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Temporary Tax Penalty Break for 2020 Estimated Payments

This bill offers a temporary break for individuals who didn't pay enough estimated income tax for the 2020 tax year. It lowers the amount you needed to pay to avoid penalties, making it easier for some people who struggled financially during that time.
Key points
Lowers the required estimated tax payment threshold for the 2020 tax year to avoid penalties.
Applies to most individuals, but not farmers or fishermen.
Provides relief for those who might have underpaid estimated taxes in 2020.
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Additional Information
Taxpayer Penalty Protection Act of 2021
Print number: HR 5155
Sponsor: Rep. Chu, Judy [D-CA-27]
Process start date: 2021-09-03