Presidential Tax Accountability and Audit Integrity Act

This bill amends the Internal Revenue Code of 1986 to prohibit the Secretary of the Treasury from entering into or giving effect to any "covered instrument" that purports to affect federal tax matters for the President, certain relatives, or related persons. These instruments include any agreement, order, waiver, or similar document made during the President's term in office. The legislation aims to prevent potential conflicts of interest and ensure that presidential tax liabilities are handled without special arrangements. To promote transparency, the bill requires the Secretary to submit public reports to Congress detailing any covered instruments and actions taken to comply with the prohibition. These reports must identify affected taxpayers and are due within seven days of an instrument's creation (or the bill's enactment for prior instruments), followed by monthly updates. Furthermore, the bill amends existing law to explicitly authorize the public disclosure of relevant tax return information necessary for these reporting requirements. For covered instruments entered into between January 20, 2025, and the bill's enactment, special rules extend the statute of limitations for tax assessments or collection proceedings. This extension ensures that the period for action does not expire before three years after the President's term concludes. The prohibition on new instruments and the non-recognition of existing ones generally applies to those made on or after January 20, 2025, with disclosure provisions effective upon enactment.