H.R. 5155 · 117th Congress
Taxpayer Penalty Protection Act of 2021
- Stage
- In committee
- Sponsor
- Judy Chu
- Introduced
- 2021-09-03
- Latest action
- 2021-09-03 · Introduced in House
Summary
Taxpayer Penalty Protection Act of 2021
This bill exempts taxpayers from penalties for failure to pay estimated income tax in taxable years beginning in 2020 if such taxpayers (1) paid at least 70% of the tax due for the current year, and (2) paid 70% (90% if adjusted gross income exceeds $150,000) of tax shown on returns for the prior year.