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H.R.3856 - Information Reporting Simplification Act of 2015114th Congress (2015-2016)

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Sponsor: Rep. Renacci, James B. [R-OH-16] (Introduced 10/28/2015)
Committees: House - Ways and Means
Latest Action: House - 10/28/2015 Referred to the House Committee on Ways and Means.  (All Actions)

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This bill has the status Introduced

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Summary: H.R.3856 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.3856. Bill summaries are authored by CRS.

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Introduced in House (10/28/2015)

Information Reporting Simplification Act of 2015

This bill amends the Internal Revenue Code, with respect to penalties for filing erroneous tax returns, to set forth a safe harbor rule for errors on tax information returns and payee statements. If any such return or statement has one or more incorrect dollar amounts, but no single amount in error differs from the correct amount by more than $100, and no single amount reported for tax withheld on any information return differs from the correct amount by more than $25, then no correction shall be required and such return or statement shall be treated as having been filed with all of the correct required information.