- Stage
- In committee
- Started in
- House
- Sponsors
- 2
- Latest action
- Feb 5, 2025
What it does
The SAFE Act would amend the Internal Revenue Code to allow individuals to avoid penalties for failing to pay income tax if they timely pay 125 percent of their prior year’s tax liability. This provision applies to individuals who file their returns on time and make the required payment by the prescribed deadline, including extensions, but does not apply if returns are not filed, prior-year returns were not filed, or the prior tax year was shorter than 12 months. The rule also includes specific provisions for joint returns and clarifies that the exception only applies if the additional payment is made with a timely filed return. The changes would take effect for taxable years beginning…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.