2022 Standard Federal Tax Reporter (CCH) Committee Report on P.L. 97-34 (Economic Recovery Tax Act of 1981), Congress (United States)

Summary

• Committee Report: Standard Federal Tax Reporter (2022), Committee Report on P.L. 97-34 (Economic Recovery Tax Act of 1981)

  .018 Penalties for false withholding allowance certificate.-House bill. -Under present law, a civil penalty of $50 may apply for claiming withholding allowances based on false information (Code sec. 6682). The criminal penalty for willfully failing to supply information, or for willfully supplying false or fraudulent information in connection with wage withholding is a fine of up to $500 and/or up to one year imprisonment. The bill increases to $500 the civil penalty for filing false information with respect to wage withholding. The bill also increases the criminal penalty for willfully failing to supply information, or for willfully supplying falsified information in connection with wage withholding to $1,000.

  These provisions are effective for acts and failures to act after December 31, 1981.- Conference Committee Report (H.R.  Conf. Rep. No. 97-215). 

   Conference ...