UNDERPAYMENT OF INSTALLMENTS OF ESTIMATED INCOME TAX IN CASE OF INDIVIDUALS.

SEC. 103. UNDERPAYMENT OF INSTALLMENTS OF ESTIMATED INCOME TAX IN CASE OF INDIVIDUALS. (a) In General.— Section 6654(b) (relating to amount of underpayment), and section 6654(d) (relating to exception) as amended by section 102(b)(2) of this Act, are amended by striking out “70 percent” each place it appears and inserting in lieu thereof “80 percent”. (b) Effective Date.— The amendments made by subsection (a) shall apply with respect to taxable years beginning after December 31, 1966.