US HB1300 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 25-0)
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-02-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 15 2019 - 25% progression, died in committee
Action: 2019-02-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Reduces the amount of estimated income tax that certain taxpayers are required to pay for 2018. Presently, a penalty applies if taxpayers do not use either withholding or estimated tax payments to make a required annual payment before the end of the year. The required payment is the lesser of 90% of the tax for the taxable year or a specified percentage of the preceding year's tax. For 2018, the bill reduces the percentage of the preceding year's tax from 100% to 80%. For taxpayers with adjusted gross incomes for the preceding year that exceed $150,000, the bill reduces the percentage from 110% to 100%.
Title
Taxpayer Penalty Protection Act of 2019
Sponsors
Rep. Judy Chu [D-CA] | Rep. John Lewis [D-GA] | Rep. Linda Sanchez [D-CA] | Rep. Bill Pascrell [D-NJ] |
Rep. Lloyd Doggett [D-TX] | Rep. Jimmy Gomez [D-CA] | Rep. Jimmy Panetta [D-CA] | Rep. Dwight Evans [D-PA] |
Rep. Brendan Boyle [D-PA] | Rep. John Larson [D-CT] | Rep. Terri Sewell [D-AL] | Rep. Danny Davis [D-IL] |
Rep. Brian Higgins [D-NY] | Rep. Earl Blumenauer [D-OR] | Rep. Steven Horsford [D-NV] | Rep. Thomas Suozzi [D-NY] |
Rep. Daniel Kildee [D-MI] | Rep. Carolyn Maloney [D-NY] | Rep. Don Beyer [D-VA] | Rep. Gwen Moore [D-WI] |
Rep. Suzan DelBene [D-WA] | Rep. Eleanor Norton [D-DC] | Rep. Alan Lowenthal [D-CA] | Rep. Grace Napolitano [D-CA] |
Rep. Susan Wild [D-PA] |
History
Date | Chamber | Action |
---|---|---|
2019-02-15 | House | Referred to the House Committee on Ways and Means. |
2019-02-15 | House | Introduced in House |
Same As/Similar To
SB687 (Same As) 2019-03-06 - Read twice and referred to the Committee on Finance.
Subjects
Income tax rates
Interest, dividends, interest rates
Tax administration and collection, taxpayers
Taxation
Interest, dividends, interest rates
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/1300/all-info |
Text | https://www.congress.gov/116/bills/hr1300/BILLS-116hr1300ih.pdf |