A bill to amend the Internal Revenue Code of 1954 to provide that the Internal Revenue Service shall not assess any deficiency or interest in the case of returns based upon written and certain oral advice of the Internal Revenue Service.

Summary

Amends the Internal Revenue Code to require the abatement of the full amount of any tax deficiency (including interest or penalties) which is attributable to written erroneous advice provided by an officer or employee of the Internal Revenue Service acting in his official capacity, unless the deficiency resulted from a failure by the taxpayer to provide information or a willful misrepresentation by the taxpayer. Requires IRS personnel who give tax advice to a taxpayer to make a written notation of the name and address of the taxpayer, the nature of the request, and the advice given, in cases in which more than $100 of tax liability is involved.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 5 April 1979

  Open at official source

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