A bill to amend the Internal Revenue Code of 1986 to suspend the tax-exempt status of designated terrorist organizations, and for other purposes.

Amends the Internal Revenue Code to: (1) suspend the tax-exempt status of an organization designated by an Executive order as a terrorist organization; (2) prohibit taking a deduction for a contribution to any such organization; (3) prohibit challenging such a suspension or denial in any administrative or judicial proceeding relating to Federal tax liability; and (4) provide any credit or refund due (with interest), in the case of an erroneous designation.