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United States · Bill · HR

H.R. 1245 (99th)

A bill entitled: "Senior Citizens Tax Improvement Act".

referredUnited States· United States Congress· EN

Introduced

25 February 1985

Last action

Status

Referred to House Committee on Ways and Means.

Sponsors

Subjects

Discovery layer

Source updated

7 February 2024

Summary

Amends the Internal Revenue Code to authorize the Secretary of the Treasury to prescribe regulations exempting retirees or individuals age 65 or over from interest penalties with respect to any underpayment of estimated tax. Requires that such underpayment be due to reasonable cause (defined to include mistake or ignorance of the law) and not to willful neglect.

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Documents

1 official file

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Sources

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