This bill provides tax relief for Americans who are unlawfully detained or held hostage abroad. It extends tax deadlines and suspends the accumulation of interest and penalties during the period of detention, treating that time as if it didn't exist for tax purposes. The legislation also establishes a program allowing affected individuals—or their spouses and dependents—to apply for refunds or abatement of penalties and interest they already paid for tax years between January 1, 2021, and the bill's enactment date. The Treasury Department must create this program by January 1, 2026, and coordinate with the State Department and Attorney General to identify eligible individuals and notify them of their rights. No specific funding amount is specified in the bill; rather, it directs the Treasury to process refunds and abate penalties as needed for qualifying cases.
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