arrow_back Back to App

Tax Simplification: Easier Filings and Deadlines

This act simplifies tax procedures for small businesses by extending the deadline for S corporation elections. It also adjusts individual estimated tax payment due dates and applies the 'mailbox rule' to electronic submissions and payments, potentially easing daily tax compliance for citizens.
Key points
Extended time for small businesses to elect S corporation status, offering more flexibility in tax planning.
Adjusted quarterly estimated income tax payment due dates for individuals to July 15 and October 15, potentially improving personal financial management.
Electronic filings and payments will be considered timely if transmitted by the due date, not just received, enhancing convenience and security of e-services.
Allows for late S corporation revocations to be treated as timely if there was reasonable cause.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_684
Sponsor: Sen. Blackburn, Marsha [R-TN]
Process start date: 2025-02-24
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Tax Administration Simplification Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_684.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-24.

What are the main provisions?

Key points include:

  • Extended time for small businesses to elect S corporation status, offering more flexibility in tax planning.
  • Adjusted quarterly estimated income tax payment due dates for individuals to July 15 and October 15, potentially improving personal financial management.
  • Electronic filings and payments will be considered timely if transmitted by the due date, not just received, enhancing convenience and security of e-services.
  • Allows for late S corporation revocations to be treated as timely if there was reasonable cause.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Blackburn, Marsha [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes