US SB2629

Amends Internal Revenue Code Section 7602(c) to require IRS notices to taxpayers to identify each specific item of information the agency intends to seek from third parties, when the taxpayer could reasonably provide that information themselves

Extends the taxpayer response period to at least 45 days before the IRS contacts third parties, with the option to request additional time upon showing reasonable cause

Creates an exception allowing the Secretary to bypass the information specificity requirement when third-party information is deemed necessary regardless of whether the taxpayer could independently provide it

Applies to notices issued under Section 7602(c) beginning 12 months after enactment

Introduced July 31, 2025 by Senators Barrasso (R-WY) and Warnock (D-GA) with bipartisan sponsorship; referred to the Committee on Finance