To amend the Internal Revenue Code of 1986 to allow individuals to avoid a penalty for failure to pay income tax by timely paying 125 percent of the income tax liability for the prior year.
Simplify Automatic Filing Extensions Act or the SAFE Act
This bill eliminates the penalty for failure to pay income tax for individual taxpayers who timely pay 125% of their income tax liability for the immediately preceding taxable year.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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