STATUTE OF LIMITATIONS ON PENALTY ASSESSMENT.

SEC. 5. STATUTE OF LIMITATIONS ON PENALTY ASSESSMENT. (a) In General.—Section 6501 of the Internal Revenue Code of 1986 is amended by redesignating subsection (n) as subsection (o) and by inserting after subsection (m) the following new subsection: “(n) Assessable Payment of Employer Shared Responsibility.—In the case of any assessable payment under section 4980H, the period for assessment shall expire at the end of the 6-year period beginning on the due date for filing the return under section 6056 (or, if later, the date such return was filed) for the calendar year with respect to which such payment is determined.” . (b) [26 U.S.C. 6501 note] Effective Date.—The amendment made by this section shall apply with respect to returns which are due after December 31, 2024.