Bipartisan House Vote Sends Taxpayer Assistance Bill to Senate

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The House passes, 399-9, a taxpayer assistance bill (H.R. 4994) that would remove cell phones from listed property under tax code Section 280F, thereby eliminating the paperwork required for businesses to claim a deduction. The bill would be paid for by increasing the penalties for failure to file information returns, applying the bad check penalty to all commercially acceptable instruments of payment that are not duly paid, and implementing an assessable penalty for failure to comply with electronic filing requirements for all payments made after Dec. 31, 2010. The bill also would repeal the partial payment requirement on submissions of offers-in-compromise.