Search Results: keywords:"tax administration simplification act"

  • S. 5316 — To amend the Internal Revenue Code of 1986 to extend the period of time for making S corporation elections, and for other purposes.
    Status:Introduced in Senate
    Words:1,373

    The bill S. 5316, known as the "Tax Administration Simplification Act," proposes changes to the Internal Revenue Code to make it easier for small businesses to elect to be S corporations. It extends the time allowed for making these elections to align with the due date for...

    Simple Explanation

    The bill wants to make it easier for small businesses to choose a special tax status called "S corporation," by giving them more time to decide and file. It also makes sure that when people send their tax forms online, it's okay if they send them right at the deadline.

  • H. R. 8864 — To amend the Internal Revenue Code of 1986 to make improvements related to tax administration.
    Status:Introduced in House
    Words:1,319

    The Tax Administration Simplification Act (H. R. 8864) proposes several changes to the Internal Revenue Code. The bill aims to simplify tax administration by recognizing electronic submissions to the IRS as valid on the date they are sent, extending the deadline for S...

    Simple Explanation

    The Tax Administration Simplification Act wants to make doing taxes easier by allowing electronic filings to count on the day they're sent, giving more time for certain businesses to make choices about their taxes, and moving some tax payment due dates to later.