 H.R.6266
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.
 5 Total PointsSubjects
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 do you think?
|
Legislation Detail
 Viewed 50 times.
Legislation Slant
Latest Action:
Referred to House committee. Status: Referred to the House Committee on Ways and Means.
This action occurred on Thursday, June 12, 2008 and earned 5 points.
Legislative Progress
Introduced in the House on June 12, 2008
Related Bills
S.3121
|
||||||||||||||||||||
|
|
|
