To provide that no interest shal be imposed on any underpayment of tax resulting from the retroactive application of the amendment denying the deduction for personal exemptions under the alternative minimum tax.

Provides that no interest shall be imposed on any underpayment of tax for a taxable year beginning in 1987 that is attributable to an amendment made by the Technical and Miscellaneous Revenue Act of 1988 denying the deduction for personal exemptions under the alternative minimum tax.

 
HR 3869 IH
101st CONGRESS
2d Session
 H. R. 3869
To provide that no interest shall be imposed on any underpayment of tax
resulting from the retroactive application of the amendment denying the
deduction for personal exemptions under the alternative minimum tax.
IN THE HOUSE OF REPRESENTATIVES
January 23, 1990
Mr. SLATTERY (for himself, Mr. AKAKA, Mr. HALL of Ohio, Mr. PENNY, Mr. BATES,
Mr. BATEMAN, and Mr. HERGER) introduced the following bill; which was referred
to the Committee on Ways and Means
A BILL
To provide that no interest shall be imposed on any underpayment of tax
resulting from the retroactive application of the amendment denying the
deduction for personal exemptions under the alternative minimum tax.
  Be it enacted by the Senate and House of Representatives of the United States
  of America in Congress assembled, That if any portion of an underpayment of
  tax for a taxable year beginning in 1987 is attributable to the amendment
  made by section 1007(b)(2) of the Technical and Miscellaneous Revenue Act
  of 1988--
  (1) no interest shall be required to be paid on such portion under section
  6601 of the Internal Revenue Code of 1986, and
  (2) if any interest on such portion under such section has been paid for
  any such period, the amount so paid shall be allowed as a credit or refund
  in the same manner as an overpayment of tax.