WAIVER OF PENALTY FOR UNDERPAYMENT OF 1971 ESTIMATED INCOME TAX.

SEC. 207. WAIVER OF PENALTY FOR UNDERPAYMENT OF 1971 ESTIMATED INCOME TAX. (a) Waiver of Penalty—Notwithstanding any other provision of law, section 6654(a) of the Internal Revenue Code of 1954 (relating to addition to tax for failure by individual to pay estimated income tax) shall not apply to any taxable year beginning after December 31, 1970, and ending before January 1, 1972— (1) if gross income for the taxable year does not exceed $10,000 in the case of— (A) a single individual other than a head of a household (as defined in section 2(b) of such Code) or a surviving spouse (as defined in section 2 (a) of such Code); or (B) a married individual not entitled under section 6013 of such Code to file a joint return for the taxable year; or (2) if gross income for the taxable year does not exceed $20,000 in the case of— (A) a head of a household (as defined in section 2(b) of such Code); or (B) a surviving spouse (as defined in section 2(a) of such Code); or (3) in the case of a married individual entitled under section 6013 of such Code to file a joint return for the taxable year, if the aggregate gross income of such individual and his spouse for the taxable year does not exceed $20,000. (b) Limitation—Subsection (a) shall not apply if the taxpayer has income from sources other than wages (as defined in section 3401 (a) of such Code) in excess of $200 for the taxable year ($400 in the case of a husband and wife entitled to file a joint return under section 6013 of such Code for the taxable year).