The Rangel Rule - I am NOT making this up

by: DocJess

Fri Jan 30, 2009 at 16:11:06 PM EST

From Roll Call (subscription required):

Tax season is well under way, and embattled Rep. Charlie Rangel — a man who has had, ahem, some trouble with the IRS — has inspired legislation that could have taxpayers everywhere jumping for joy.

Introduced on Wednesday by Rep. John Carter, the Rangel Rule Act would amend the tax code to allow any U.S. citizen who writes the phrase “Rangel Rule” on the top of their tax return to be exempt from penalties or interest on any back taxes they might have to pay.

The Texas Republican says he was inspired to pen the measure after learning Rangel hadn’t paid any penalties or interest on the $10,000 worth of back taxes he owed from rental income on a Caribbean property. While Rangel did eventually pay the back taxes, it remains unclear if he ever will pay any penalties.

I thought this might be an early April Fool's joke, but no, it's actually HR 735.