Bean Introduces Bill to Resolve Digital Asset Tax Liabilities

WASHINGTON-Today, Ways and Means Committee member U.S. Congressman Aaron Bean (FL-04) introduced H.R. 9174, the Digital Assets Voluntary Disclosure Program Act. As digital assets become increasingly common, this legislation establishes a voluntary disclosure program for taxpayers seeking to correct past digital asset-related tax noncompliance.

Upon introduction, Congressman Bean said, "Taxes are complicated enough. Add digital assets to the mix, and many Americans are left trying to navigate a confusing and evolving set of rules. My bill gives taxpayers who want to do the right thing an opportunity to correct past mistakes and come into compliance."

"Most taxpayers want to follow the law and pay what they owe, but the complexity surrounding digital assets has left some Americans unsure of how to meet their obligations," said Ways and Means Committee Chairman Jason Smith. "The Digital Assets Voluntary Disclosure Program Act creates a clear pathway for taxpayers to come back into compliance without facing unnecessary barriers or prolonged disputes. Representative Bean's bill is a practical solution that promotes voluntary compliance, improves tax administration, and helps taxpayers move forward with certainty while ensuring everyone plays by the same rules."

BACKGROUND

The Digital Assets Voluntary Disclosure Program Act establishes a voluntary disclosure program for taxpayers with unreported or underreported digital asset-related tax liabilities.

Under the program, taxpayers must:

• Fully disclose and correct prior digital asset-related tax noncompliance;
• Pay all taxes owed, plus applicable interest; and
• Cooperate with the Internal Revenue Service as part of the disclosure process.

In return, eligible taxpayers receive a streamlined compliance process and limited penalties, providing a practical pathway to come into compliance and resolve outstanding tax obligations.

Read the bill text HERE.

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