1. Short title This Act may be cited as the Simplify Automatic Filing Extensions Act or the SAFE Act . 2. No penalty for failure to pay income tax for individuals who timely pay 125 percent of income tax liability for prior year (a) In general Section 6651(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (3) No penalty for failure to pay income tax for individuals who timely pay 125 percent of income tax liability for prior year (A) In general Subsection (a)(2) shall not apply with respect to an income tax return of an individual if such individual pays, on or before the date prescribed for the payment of the tax with respect to which such return relates (determined with regard to any extension of time for payment), 125 percent of the amount of tax required to be shown on the income tax return of such individual for the immediately preceding taxable year. (B) Failure to file