Taxpayer Penalty Protection Act of 2019

H.R. 1300 · 116th Congress · Feb 15, 2019 · Lineage

A BILL

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

1. Short title

This Act may be cited as the “Taxpayer Penalty Protection Act of 2019”.

2. Temporary safe harbor for failure by individuals to pay estimated income tax

In the case of a taxable year beginning in 2018—

(1)

In general— Section 6654(d)(1)(B) of the Internal Revenue Code of 1986 shall be applied—

(A)

by substituting “80 percent” for “90 percent” each place such term appears in clause (i) of such section, and

(B)

by substituting “80 percent” for “100 percent” in clause (ii) of such section.

(2)

Individuals with adjusted gross income of $150,000— In the case of an individual to whom section 6654(d)(1)(C) of such Code would (but for this paragraph) apply, section 6654 of such Code shall be applied without regard to—

(A)

paragraph (1)(B) of this Act, and

(B)

section 6654(d)(1)(C) of such Code.

(3)

Farmers and fishermen— Section 6654(i) of such Code shall be applied without regard to this Act.

Lineage

Feb 15, 2019viewing Introduced in House Ms. Judy Chu of California (for herself, Mr. Lewis, Ms. Sánchez, Mr. Pascrell, Mr. Doggett, Mr. Gomez, Mr. Panetta, Mr. Evans, Mr. Brendan F. Boyle of Pennsylvania, Mr. Larson of Connecticut, Ms. Sewell of Alabama, Mr. Danny K. Davis of Illinois, Mr. Higgins of New York, and Mr. Blumenauer) introduced the following bill; which was referred to the Committee on Ways and Means

Taxpayer Penalty Protection Act of 2019

1. Short title

2. Temporary safe harbor for failure by individuals to pay estimated income tax

Cite this provision

Incoming references