What does Preamble of Digital Assets Voluntary Disclosure Program Act do?

This bill is formally titled 'To establish the Digital Assets Voluntary Disclosure Program'.

What does SHORT TITLE. of Digital Assets Voluntary Disclosure Program Act do?

This Act is formally titled the Digital Assets Voluntary Disclosure Program Act.

What does ESTABLISHMENT OF DIGITAL ASSETS VOLUNTARY DISCLOSURE PROGRAM. of Digital Assets Voluntary Disclosure Program Act do?

This section establishes the Digital Assets Voluntary Disclosure Program (the "program") to allow eligible taxpayers to remedy digital assets violations. The program requires eligible taxpayers to submit an application, file amended returns, and pay any deficiency of tax and a digital assets violation penalty. Uncertified taxpayers face a 25% penalty on the first $25,000 of deficiency and a 40% penalty on amounts exceeding that, while certified taxpayers face lower penalties (0% and 5%, respectively). If requirements are fulfilled, the program may waive further penalties under sections 6662 and 6663 and prevent the use of disclosed information for criminal investigations. The 'applicable period' begins with the taxpayer's first taxable year with a digital assets violation or within a 6-year period preceding the Act's enactment, and ends with the last taxable year before the Act's enactment. The Secretary has the authority to prescribe regulations and guidance to carry out the program's purposes.

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Digital Assets Voluntary Disclosure Program Act

Last updated: 6/8/2026 · Introduced: 6/8/2026

Author: Aaron Bean (R-FL)

TL;DR (AI)

This bill creates a voluntary disclosure program allowing taxpayers with past digital asset reporting errors to remedy those errors by submitting applications, amended returns, and paying taxes and penalties.
Eligible taxpayers who participate in the program may have certain penalties waived and be protected from future criminal investigations related to the disclosed information.
The program defines an 'applicable period' for disclosures, beginning with the taxpayer's first year of a digital asset violation or within six years prior to the Act's enactment.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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