1. Short title This Act may be cited as the Presidential Audit and Tax Transparency Act . 2. Examination and disclosure with respect to Presidential income tax returns (a) Audit Subchapter A of chapter 78 of the Internal Revenue Code of 1986 is amended by redesignating section 7613 as section 7614 and by inserting after section 7612 the following new section: 7613. Examination with respect to Presidential income tax returns (a) In general As rapidly as practicable after the filing of any Presidential income tax return, the Secretary shall conduct an examination to ascertain the correctness of such return and enforce the requirements of this title with respect to the taxable year covered by such return. (b) Reports (1) Initial report Not later than 90 days after the filing of a Presidential income tax return, the Secretary shall disclose and make publicly available an initial report regarding the examination with respect to such return. Such report shall include— (A) the name of the taxpayer, (B) an identification of the subparagraph of subsection (c)(1) which describes such return, (C) the date that such return was filed, and (D) the date on which the examination with respect to such return commenced (or, if such examination has not commenced as of the date of such report, a detailed description of the reasons that such examination has not commenced). (2) Periodic reports Not later than 180 days after the disclosure of the report described in paragraph (1) with respect to any Presidential income tax return and not later than 180 days after the most recent disclosure of a report described in this paragraph with respect to such return, the Secretary shall disclose and make publicly available a periodic report regarding the examination with respect to such return. Such report shall include— (A) the information described in subparagraphs (A) through (D) of paragraph (1), (B) a description of the status of the examination, including a description of the portions of the examination which have been completed, which are