HR 6266
110th Congress
House
Taxation
Income tax
Tax administration
Tax evasion
Tax penalties
Tax returns
To amend the Internal Revenue Code of 1986 to allow the Secretary of the Treasury to waive the penalties for failure to disclose reportable transactions, and for other purposes.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 12, 2008
Referred to the House Committee on Ways and Means.
Jun 12, 2008
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to modify provisions relating to the waiver of penalties for failure to disclose reportable transactions (i.e., transactions which have a potential for tax avoidance or evasion) to grant authority to the Secretary of the Treasury (instead of the Commissioner of Internal Revenue) to rescind or waive all or a portion of such penalties and to allow a waiver if there was reasonable cause for the failure to disclose such transactions and the taxpayer acted in good faith.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1