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II
116TH CONGRESS
1ST SESSION
S. 687
To provide for a temporary safe harbor for certain failures by individuals
to pay estimated income tax.
IN THE SENATE OF THE UNITED STATES
MARCH 6, 2019
Mrs. GILLIBRAND introduced the following bill; which was read twice and
referred to the Committee on Finance
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 Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Taxpayer Penalty Pro-
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tection Act of 2019’’.
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SEC. 2. TEMPORARY SAFE HARBOR FOR FAILURE BY INDI-
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VIDUALS TO PAY ESTIMATED INCOME TAX.
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In the case of a taxable year beginning in 2018—
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•S 687 IS
(1) IN
GENERAL.—Section 6654(d)(1)(B) of
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the Internal Revenue Code of 1986 shall be ap-
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plied—
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(A) by substituting ‘‘80 percent’’ for ‘‘90
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percent’’ each place such term appears in clause
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(i) of such section, and
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(B) by substituting ‘‘80 percent’’ for ‘‘100
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percent’’ in clause (ii) of such section.
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(2) INDIVIDUALS WITH ADJUSTED GROSS IN-
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COME OF $150,000.—In the case of an individual to
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whom section 6654(d)(1)(C) of such Code would
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(but for this paragraph) apply, section 6654 of such
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Code shall be applied without regard to—
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(A) paragraph (1)(B) of this Act, and
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(B) section 6654(d)(1)(C) of such Code.
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(3)
FARMERS
AND
FISHERMEN.—Section
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6654(i) of such Code shall be applied without regard
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to this Act.
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Æ
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