[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3905 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 3905

 To amend the Internal Revenue Code of 1986 to authorize the Secretary 
   of the Treasury to provide a one-time abatement of interest on an 
     underpayment or nonpayment of income tax for reasonable cause.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 7, 2002

  Mr. Cramer introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to authorize the Secretary 
   of the Treasury to provide a one-time abatement of interest on an 
     underpayment or nonpayment of income tax for reasonable cause.

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

SECTION 1. ONE-TIME ABATEMENT OF INTEREST ON UNDERPAYMENT OR NONPAYMENT 
              OF INCOME TAX FOR REASONABLE CAUSE.

    (a) In General.--Section 6404 of the Internal Revenue Code of 1986 
(relating to abatements) is amended by redesignating subsection (i) as 
subsection (j) and by inserting after subsection (h) the following new 
subsection:
    ``(i) Abatement of Interest for Individuals on Underpayment, 
Nonpayment, or Extension of Time for Payment, of Income Tax.--
            ``(1) In general.--In the case of an individual, the 
        Secretary may abate any interest prescribed under section 6601 
        on income tax with respect to a taxpayer for reasonable cause.
            ``(2) Limitation.--An abatement under this subsection may 
        be made only once with respect to the same taxpayer.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2002.
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