S. 1594 — A bill to amend the Internal Revenue Code of 1954 to apply the civil fraud penalty only to that portion of an underpayment which is attributable to fraud.

Summary

Amends the Internal Revenue Code to base the civil penalty for fraud on only the portion of the underpayment which is due to fraud rather than on the entire underpayment.

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Related Legislation

H.R. 6627A bill to amend the Internal Revenue Code of 1954 to apply the civil fraud penalty only to that portion of an underpayment which is attributable to fraud.
1982-06-17Referred to House Committee on Ways and Means.
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Legislative Actions

1981-08-03
Introduced in Senate
1981-08-03
Read second time and referred to Senate Committee on Finance.
1981-08-05
Committee on Finance requested executive comment from OMB; Treasury Department.
1981-11-06
Subcommittee on Taxation and Debt Management took the following actions.
1981-11-06
Subcommittee on Taxation and Debt Management. Hearings held.

A bill to amend the Internal Revenue Code of 1954 to apply the civil fraud penalty only to that portion of an underpayment which is attributable to fraud.

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