118th Congress · HOUSE BILLBILL

H.R. 3566 — SAFE Act

“To amend the Internal Revenue Code of 1986 to allow individuals to avoid a penalty for failure to pay income tax by timely paying 125 percent of the income tax liability for the prior year.”

Taxation

Introduced May 22, 2023

Last action May 22, 2023

Pipeline · Bill → Law

Step 1

Introduced

May 22, 2023

Step 2

Referred

May 22, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill eliminates the penalty for failure to pay income tax for individual taxpayers who timely pay 125% of their income tax liability for the immediately preceding taxable year.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

May 22, 2023

Introduced in House

May 22, 2023

Referred to the House Committee on Ways and Means.