A bill to amend the Internal Revenue Code of 1954 to suspend the imposition of interest on deficiencies of income tax which result from erroneous assistance given by the Internal Revenue Service, and for other purposes.

Amends the Internal Revenue Code to suspend the imposition of interest charges on a taxpayer due to a tax deficiency to the extent that such deficiency is attributable: (1) to the preparation of the taxpayer's return by an Internal Revenue Service employee; or (2) to advice or information rendered by such employee acting in his official capacity.

Requires the Secretary of the Treasury, upon the request of a taxpayer, to furnish a written memorandum to such taxpayer providing information, advice, or interpretation with respect to the income tax. Provides that such memorandum shall not be binding upon the Secretary.