3.0.0 1591 2023-01-13T04:50:20Z 2023-01-13T04:50:20Z Senate S S 2005-07-29 109 ssfi00 Finance Committee Senate Standing Referred to 2005-07-29T22:18:25Z 2005-07-29 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9511) IntroReferral 2005-07-29 Sponsor introductory remarks on measure. (CR S9510) IntroReferral B00100 9 Library of Congress 2005-07-29 Introduced in Senate IntroReferral 10000 9 Library of Congress B000243 Sen. Baucus, Max [D-MT] MAX BAUCUS D MT SIEBEN N G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. 2005-07-29 True Taxation Finance and Financial Sector Income tax Interest Tax administration Tax penalties Tax returns Tax shelters Taxation 00 2005-07-29 Introduced in Senate 2005-09-14T20:39:52Z Amends the Internal Revenue Code to modify provisions which suspend interest and penalties for taxpayers not contacted by the Internal Revenue Service (IRS) about additional tax liability within 18 months of the filing of their tax returns to deny certain tax shelter participants suspension of any interest or penalties accruing on or before October 3, 2004, except those participants who accept certain IRS tax shelter settlement initiatives (current law applies only to interest accruing after October 3, 2004).

Provides that the 18-month period for IRS notification of additional tax liability for taxpayers who file amended tax returns or return information showing additional tax liability begins on the date such amended returns or information are filed.

]]> A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to the suspension of interest and certain penalties where the taxpayer is not contacted by the Internal Revenue Service within 18 months. Display Title A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to the suspension of interest and certain penalties where the taxpayer is not contacted by the Internal Revenue Service within 18 months. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to the suspension of interest and certain penalties where the taxpayer is not contacted by the Internal Revenue Service within 18 months. Introduced in Senate IS Introduced in Senate 2005-07-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s1591is/xml/BILLS-109s1591is.xml 2005-07-29 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9511) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.