Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Federal Receivership Fairness Act amends tax law to establish new procedures for determining federal tax liabilities when a court-appointed receiver takes control of a business or estate in receivership proceedings. Under this bill, courts overseeing receiverships can resolve disputes about unpaid federal taxes, penalties, and fines—giving receivers a streamlined way to settle tax obligations rather than having those disputes drag on indefinitely. The bill requires tax authorities to respond within 60 days if they want to audit a tax return filed by a receiver, and they must complete any examination within 180 days; if they miss these deadlines, the tax liability is considered discharged upon payment. The legislation also limits the government's ability to claim sovereign immunity in receivership cases, allowing courts to enforce their decisions and offset government claims against claims the government owes to the receivership estate. The law applies to tax returns for which the assessment period is still open as of the bill's enactment and to all future tax returns filed by receivers.
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