Page:United States Statutes at Large Volume 96 Part 1.djvu/660

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PUBLIC LAW 97-000—MMMM. DD, 1982

96 STAT. 618

PUBLIC LAW 97-248—SEPT. 3, 1982 SEC. 328. ADJUSTMENTS TO ESTIMATED TAX PROVISIONS. (a) W A IV E R OF P E N A L T Y W H E R E INDIVIDUAL D I D N O T H A V E T A X LIABILITIES FOR PRECEDING TAXABLE Y E A R. —

95 Stat. 346.

(1) Section 6654 (relating to failure by individual to pay estimated tax) is amended by redesignating subsection (h) a s subsection (i) and by inserting after subsection (g) the following new subsection: "(h) EXCEPTION W H E R E N O T A X LIABILITY FOR PRECEDING TAXABLE

Y E A R. — N o addition to tax shall be imposed under subsection (a) for any taxable year if— "(1) the individual did not h a v e any liability for tax for the preceding taxable year, "(2) the preceding taxable year w a s a taxable year of 12 months, and "(3) the individual w a s a citizen or resident of the United States throughout the preceding taxable year." (2) Subsection (g) of section 6654 is amended by striking out "and (f)" and inserting in lieu thereof "(f), and (h)". (b) E L I M I N A T I O N OF REQUIREMENTS TO F I L E DECLARATIONS OF ESTIMATED TAX.—

95 Stat. 345.

26 USC 6073.

26 USC 6153.

(1) Section 6015 (relating to declaration of estimated income tax by individuals) is amended by adding a t the end thereof the following new subsection: "(k) TERMINATION.—No declaration shall be required under this section for any taxable year beginning after December 31, 1982." (2) Section 6073 (relating to time for filing declarations of estimated income tax by individuals) is amended by adding at the end thereof the following new subsection: "(f) TERMINATION.—This section shall not apply to any taxable year beginning after December 31, 1982." (3) Section 6153 (relating to installment payments of estimated income tax by individuals) is amended by striking out subsection (g) and inserting in lieu thereof the following: "(g) SPECIAL RULES FOR TAXABLE Y E A R S B E G I N N I N G A F T E R 1982.—

26 USC 6015 ^°^^-

In the case of taxable years beginning after 1982— "(1) this section shall be applied as if the requirements of sections 6015 and 6073 r e m a i n e d in effect, and "(2) the a m o u n t of the estimated tax t a k e n into account under this section shall be determined under rules similar to the rules of subsections (b) and (d) of section 6654." (c) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 1982. SEC. 329. INCREASES IN CERTAIN CRIMINAL FINES.

26 USC 7201.

(a) A T T E M P T TO EVADE OR DEFEAT TAX.—Section 7201 (relating to

a t t e m p t to evade or defeat tax) is amended by striking out "$10,000" and inserting in lieu thereof "$100,000 ($500,000 in the case of a corporation)". (b) W I L L F U L FAILURE TO F I L E R E T U R N, SUPPLY INFORMATION, OR

26 USC 7203.

26 USC 7206.

P A Y TAX.—Section 7203 (relating to willful failure to file r e t u r n, supply information, or pay tax) is amended by striking out "$10,000" and inserting in lieu thereof "$25,000 ($100,000 in the case of a corporation)". (c) FRAUD AND FALSE STATEMENTS.—Section 7206 (relating to fraud and false statements) is amended by striking out "$5,000" and inserting in lieu thereof "$100,000 ($500,000 in the case of a corporation)".