HR 1245 · 99th Congress · Taxation
A bill entitled: "Senior Citizens Tax Improvement Act".
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1985-02-25)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
15 Democrats5 Republicans