S. 2917: Small Business Penalty Fairness Act of 2009
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S. 2917: Small Business Penalty Fairness Act of 2009
111th Congress · introduced 2009-12-18 · Taxation · Latest: Held at the desk.
federal
Follow this bill, step by step
- Where it came from: introduced 2009-12-18 · official record
- Who proposed it: Sen. Baucus, Max [D-MT] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Held at the desk. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Small Business Penalty Fairness Act of 2009
Plain summary
(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Small Business Penalty Fairness Act of 2009 - Amends the Internal Revenue Code to limit the penalty for failure to disclose a reportable transaction (a transaction determined by the Internal Revenue Service [IRS] as having a potential for tax avoidance or evasion) to 75% of the decrease in tax shown on the return as a result of such transaction. Sets forth a maximum penalty for failure to report a reportable transaction and a minimum and maximum penalty for failure to report a listed transaction (a transaction specifically identified by the IRS as a tax avoidance transaction). Requires the Commissioner of Internal Revenue to report by June 1, 2010, and then annually, to Congress on penalties relating to abusive tax shelters and reportable transactions. Extends the penalty for tendering a bad check to the Internal Revenue Service to any commercially acceptable payment instrument (including electronic payments). Expands the continuous tax levy on payments to vendors for goods and services to include payments for all property, goods, or services.
Congressional Research Service summary (Passed Senate without amendment), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Small Business Penalty Fairness Act of 2009
Source: Congressional Research Service summary (Passed Senate without amendment)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Baucus, Max [D-MT] · 12 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Chuck Grassley (R-IA), Mike Crapo (R-ID)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Sources
- Congressional Research Service summary (Passed Senate without amendment)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s2917.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s2917 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111