Congressional and Federal Employee Tax Accountability Act of 2012

Congressional and Federal Employee Tax Accountability Act of 2012 - Amends the Ethics in Government Act of 1978 to require all individuals required to file annual financial disclosure reports under the Act to include in their reports the amount of any delinquent tax liability owed to the United States or any state or local government entity.

Requires the appropriate supervising ethics office to open an inquiry immediately into the tax delinquency of that individual to determine: (1) his or her total delinquent tax liability and reason for such delinquency, (2) whether the individual has a plan to eliminate it, and (3) whether it has reflected poorly on Congress or the employing agency.

Prohibits public disclosure of any such delinquent tax liability.

Requires such individual to arrange with the relevant payroll office and the Internal Revenue Service (IRS) to have his or her salary reduced by an amount appropriate to pay the taxes owed to the United States within a reasonable time period.