Lawmakers Propose Tax and IRS Bills as Filing Season Ends

Bipartisan legislation aims to improve IRS customer service and crack down on tax evasion by the wealthy

Apr. 16, 2026 at 9:55pm

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A dynamic, abstract painting featuring overlapping, geometric shapes in shades of blue, teal, and gold, conceptually representing the complexities of the U.S. tax system and the legislative efforts to address them.As lawmakers propose new tax and IRS legislation, a fractured, kinetic painting reflects the fast-paced challenges of the tax filing season.Richmond Today

As tax filing season comes to a close, U.S. Senators have introduced several pieces of tax-related legislation this week. The bills include measures to improve customer service at the Internal Revenue Service, enhance tax enforcement against high-income tax cheats, and close the carried interest tax loophole that benefits hedge fund managers and private equity firms.

Why it matters

These legislative proposals come at a critical time, as the IRS has faced significant backlogs and challenges in providing timely assistance to taxpayers. The bills aim to address long-standing issues of tax evasion by the wealthy and ensure the tax system is more equitable for all Americans.

The details

The Improving IRS Customer Service Act, introduced by Senators Bill Cassidy and Mark Warner, would establish an online dashboard to inform taxpayers of IRS backlogs and wait times, expand electronic access to information and refunds, and provide more support for individuals facing economic hardship. The Stop CHEATERS Act, led by Senator Ron Wyden, would provide additional funding to the IRS to strengthen tax enforcement against high-income tax evasion. Additionally, Senators Wyden, Angus King, and Sheldon Whitehouse introduced a bill to close the carried interest tax loophole, which allows hedge fund managers and private equity partners to pay a lower tax rate on their compensation.

  • The Improving IRS Customer Service Act was first introduced in 2024.
  • The Stop CHEATERS Act and the Ending the Carried Interest Loophole Act were introduced this week, on Tax Day 2026.
  • The House Financial Services Committee plans to markup a bill next Tuesday that would fully repeal the Corporate Transparency Act.

The players

Bill Cassidy

A Republican Senator from Louisiana who co-introduced the Improving IRS Customer Service Act.

Mark Warner

A Democratic Senator from Virginia who co-introduced the Improving IRS Customer Service Act.

Ron Wyden

The ranking member of the Senate Finance Committee and a Democratic Senator from Oregon who introduced the Stop CHEATERS Act and the Ending the Carried Interest Loophole Act.

Angus King

An independent Senator from Maine who caucuses with Democrats and co-introduced the Stop CHEATERS Act.

Frank Bisignano

The CEO of the Internal Revenue Service.

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What they’re saying

“Taxpayers deserve a simple, stress-free experience when dealing with the IRS. This bill makes the process quicker and easier for taxpayers to get the information they need.”

— Bill Cassidy, U.S. Senator

“Taxpayers shouldn't have to jump through hoops to get basic answers from the IRS — and in the last year, those challenges have only gotten worse. I am glad to reintroduce this bipartisan legislation on Tax Day to ease some of this frustration by increasing clear communication and making IRS resources more readily available.”

— Mark Warner, U.S. Senator

“Wealthy tax cheats and scofflaw corporations are stealing billions and billions from the American people by refusing to pay what they legally owe, and far too many of them are getting a free pass because Republicans gutted the enforcement capacity of the IRS. This bill is about making sure the IRS has the resources it needs to go after wealthy tax cheats while improving customer service for the vast majority of American taxpayers who follow the law every year.”

— Ron Wyden, U.S. Senator

“As Congress seeks ways to fund much-needed policy priorities and address our growing national debt, there is one common sense solution that should have unanimous bipartisan support: let's enforce the tax laws already on the books. Our legislation will make sure the IRS has the resources it needs to confront the gap between taxes owed and taxes paid – while ensuring that our tax enforcement professionals are focused on the high-income earners who account for the most tax evasion.”

— Angus King, U.S. Senator

What’s next

The Improving IRS Customer Service Act and the Stop CHEATERS Act will now move through the legislative process, with the goal of being signed into law by the end of the year. The House Financial Services Committee will markup the bill to repeal the Corporate Transparency Act next Tuesday.

The takeaway

These legislative proposals aim to address long-standing issues in the U.S. tax system, from improving customer service at the IRS to cracking down on tax evasion by the wealthy. If enacted, they could help restore fairness and trust in the tax system, while providing the IRS with the resources it needs to better serve all taxpayers.