Taxpayer Penalty Protection Act of 2018

H.R. 7300 · 115th Congress · Dec 13, 2018 · Lineage

A BILL

To provide for a one-time safe harbor for certain failures by individuals to pay estimated income tax.

This Act may be cited as the “Taxpayer Penalty Protection Act of 2018”.

In the case of a taxable year beginning in 2018—

(1)

section 6654(d)(1)(B)(ii) of the Internal Revenue Code of 1986 shall be applied by substituting “80 percent” for “100 percent”; and

(2)

the table in section 6654(d)(1)(C) of such Code shall be applied by substituting “100” for “110”.

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Dec 13, 2018viewing Introduced in House Ms. Judy Chu of California (for herself, Mr. Doggett, Mr. Larson of Connecticut, Mr. Danny K. Davis of Illinois, Mr. Higgins of New York, and Ms. Sánchez) introduced the following bill; which was referred to the Committee on Ways and Means