Summary: H.R.6654 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for H.R.6654. Bill summaries are authored by CRS.

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Introduced in House (06/22/1982)

Amends the Internal Revenue Code to authorize the Secretary of the Treasury to prescribe regulations exempting retirees or individuals over age 65 from interest penalties with respect to any underpayment of estimated tax. Requires that such underpayment be due to reasonable cause (defined to include mistake or ignorance of the law) and not to willful neglect.