The bill, S. 684, also known as the "Tax Administration Simplification Act," proposes changes to the Internal Revenue Code of 1986. It aims to extend the time allowed for S corporations to file elections and amend processes related to their filing. Additionally, it modifies deadlines for...
Simple Explanation
The bill wants to make it easier for small businesses to tell the government when they are changing how they pay their taxes and to help them do this online instead of using paper.