Summary: H.R.6266 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.6266. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/12/2008)

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.