A bill to amend the Internal Revenue Code of 1954 to provide that individuals will not be required to make declarations of estimated tax if the amount of estimated tax is less than $500.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exempt individuals from making declarations of estimated tax, if the amount of such estimated tax is less than $500. Provides that penalties relating to the failure by an individual to pay estimated tax will not apply if the tax is less than $500.…