[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5155 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 5155

    To provide for a temporary safe harbor for certain failures by 
                individuals to pay estimated income tax.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 3, 2021

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

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                                 A BILL


 
    To provide for a temporary safe harbor for certain failures by 
                individuals to pay estimated income tax.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Taxpayer Penalty Protection Act of 
2021''.

SEC. 2. TEMPORARY SAFE HARBOR FOR FAILURE BY INDIVIDUALS TO PAY 
              ESTIMATED INCOME TAX.

    In the case of any taxable year beginning in 2020--
            (1) In general.--Section 6654(d)(1)(B) of the Internal 
        Revenue Code of 1986 shall be applied--
                    (A) by substituting ``70 percent'' for ``90 
                percent'' each place such term appears in clause (i) of 
                such section, and
                    (B) by substituting ``70 percent'' for ``100 
                percent'' in clause (ii) of such section.
            (2) Individuals with adjusted gross income in excess of 
        $150,000.--Section 6654(d)(1)(C)(i) of such Code shall be 
        applied by substituting ``90 percent'' for ``110 percent'' (and 
        without regard to the substitution made by paragraph (1)(B) of 
        this section).
            (3) Farmers and fishermen.--Section 6654(i) of such Code 
        shall be applied without regard to the substitutions made by 
        this section.
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