[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3974 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 3974

   To waive interest and penalties on failures to properly complete 
                   schedule D of Form 1040 for 1997.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 1998

  Ms. Rivers introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To waive interest and penalties on failures to properly complete 
                   schedule D of Form 1040 for 1997.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. WAIVER OF INTEREST AND PENALTIES ON FAILURES TO PROPERLY 
              COMPLETE SCHEDULE D OF FORM 1040 FOR 1997.

    No interest, penalty, addition to the tax, or additional amount 
shall be imposed under the Internal Revenue Code of 1986 on any 
underpayment attributable to a failure to properly complete schedule D 
of Form 1040 for a taxable year ending during 1997 if--
            (1) the return for such year is filed on or before the due 
        date (including extensions) for filing such return, and
            (2) such failure is due to reasonable cause and not to 
        willful neglect.
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