,,ii  #aafth ,,congress  #ast ,session  
,s4 #biih  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,december #i1  
#bjai,mr4 ,braun 7for himself1 ,ms4     
,sinema1 and ,mr4 ,roberts7 introduced  
the following bill2 which was read twice
 and referred to the ,committee on      
,finance  ,a ,,bill  ,to amend the      
,internal ,revenue ,code of #aihf to    
clarify that payment of taxes on        
deferred foreign income in installments 
shall not prevent credit or refund of   
overpayments or increase estimated      
taxes4  #a4 ,short title ,this ,act may 
be cited as the ,tax ,payment           
,clarification ,act4  #b4 ,installments 
not to prevent credit or refund of      
overpayments or increase estimated taxes
  7a7 ,in general ,section #ife7;h7 of  
the ,internal ,revenue ,code of #aihf is
 amended by adding at the end the       
following new paragraph3  7#g7          
,installments not to prevent credit or  
refund of overpayments or increase      
estimated taxes ,if an election is made 

under paragraph 7#a7 to pay the net tax 
liability under this section in         
installments--  7,a7 no installment of  
such net tax liability shall-- 7i7 in   
the case of a request for credit or     
refund1 be taken into account as a      
liability for purposes of determining   
whether an overpayment exists for       
purposes of section #fdjb before the    
date on which such installment is due1  
or  7ii7 for purposes of sections #fdbe1
 #ffed1 and #ffee1 be treated as a tax  
imposed by section #a1 section #aa1 or  
subchapter ,l of chapter #a1 and  7,b7  
the first sentence of section #fdjc     
shall not apply with respect to any such
 installment4  4  7b7 ,limitation on    
payment of interest ,in the case of the 
portion of any overpayment which exists 
by reason of the application of section 
#ife7;h77#g7 of the ,internal ,revenue  
,code of #aihf 7as added by this        
section7--  7#a7 if credit or refund of 
such portion is made on or before the   
date which is #de days after the date of

 the enactment of this ,act1 no interest
 shall be allowed or paid under section 
#ffaa of such ,code with respect to such
 portion2 and  7#b7 if credit or refund 
of such portion is made after the date  
which is #de days after the date of the 
enactment of this ,act1 no interest     
shall be allowed or paid under section  
#ffaa of such ,code with respect to such
 portion for any period before the date 
of the enactment of this ,act4  7c7     
,effective date ,the amendment made by  
subsection 7a7 shall take effect as if  
included in section #adajc of ,public   
,law #aae-ig4