Amends the Internal Revenue Code, with respect to the penalty for failure to pay tax due to negligence or intentional disregard of rules and regulations (but without intent to defraud), to change the amount of the penalty from five percent of the total underpayment to five percent of that part of the underpayment due to such negligence or intentional disregard of the rules and regulations.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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