This bill clarifies and expands the authority of the Tax Court to provide relief from its judgments and orders. It introduces a new subsection to the Internal Revenue Code, explicitly granting the court power to correct clerical mistakes , oversights, or omissions in any part of the record, either on motion or on its own initiative. The legislation further outlines specific grounds for the Tax Court to relieve a party from a final judgment or order . These reasons include: Mistake, inadvertence, surprise, or excusable neglect. Newly discovered evidence that could not have been found earlier and would likely change the outcome. Fraud, misrepresentation, or misconduct by an opposing party. The judgment being void, or any other circumstance where justice so requires. Motions for relief based on mistake, new evidence, or fraud must be made within a reasonable time, but no later than one year after the judgment or order. Importantly, such a motion does not affect the judgment's finality or suspend its operation while pending. The bill also ensures that if the Tax Court grants relief, either party may seek appellate review of that decision within 90 days.