Bill lets courts discharge federal tax debts if IRS misses deadlines.
S. 5477 — Federal Receivership Fairness Act · Filed by Todd Young (R-IN) · 1 cosponsor · Introduced Sep 23, 2026 · Referred to committee
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What it does
The bill lets courts handle federal tax disputes in receiverships instead of the IRS. A receiver can file a tax return. The court decides what taxes are owed. If the IRS does not check within 60 days, the receivership does not have to pay. If the IRS does not finish within 180 days, the receivership does not have to pay. The bill lets courts issue orders against the IRS.
Who it affects
The bill affects receiverships, which are companies or people under court control. It affects creditors waiting to get paid from the receivership. It affects the IRS and federal tax collection.
One thing to notice
If the IRS misses the 60 or 180 day deadline, the receivership can be freed from paying taxes. This shifts unpaid taxes to other taxpayers.
From the analysis of the bill text, linked under Primary records below.
Where it stands
1 cosponsor: 1 Democrats.
- Sep 23, 2026 — Introduced · Congress.gov: “Introduced in Senate”
- Sep 23, 2026 — Referred to Senate Committee on Finance · Congress.gov: “Read twice and referred to the Committee on Finance”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- receivership — When a court puts a company or person under control of a court-appointed manager.
- receiver — A person appointed by a court to manage a company or person's money and property.
- discharge — To free someone from a debt or legal duty they owed.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (8,059 characters) on Sep 30, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
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