,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ajge  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #f1 #bjbe,mr4
 ,la,hood 7= himself1 ,ms4 ,del,bene1   
,mr4 ,fe5/ra1 ,mr4 ,s*neid]1 ,mr4       
,fitzpatrick1 & ,mr4 ,panetta7 introduc$
 ! foll[+ bill2 :i* 0 ref]r$ to !       
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to make improvem5ts relat$ to tax 
adm9i/ration4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,tax ,adm9i/ration     
,simplification ,act4  #b4 ,application 
( mailbox rule to docum5ts & paym5ts    
electronically submitt$ to ! ,int]nal   
,rev5ue ,s]vice  7a7 ,9 g5]al ,section  
#gejb7;c7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$-- 7#a7 9 ! head+1 by     
ins]t+ & paym5t aft] fil+1  7#b7 9      
p>agraph 7#b7-- 7,a7 9 ! head+1 by /rik+
 2 electronic fil+1 &  7,b7 by /rik+ &  
electronic fil+1 &  7#c7 by add+ at !   
end ! foll[+3  7#c7 ,electronic fil+ &  
paym5t  7,a7 ,9 g5]al ,if any return1   
claim1 /atem5t1 or o!r docum5t requir$  

to be fil$1 or any paym5t requir$ to be 
made1 )9 a prescrib$ p]iod or on or be=e
 a prescrib$ date "u au?ority ( any     
provision ( ! int]nal rev5ue laws is s5t
 electronically by any p]son to ! ag5cy1
 (fic]1 or (fice ) :i* su* return1      
claim1 /atem5t1 or o!r docum5t is       
requir$ to be fil$1 or to :i* su* paym5t
 is requir$ to be made1 ! date on :i*   
su* return1 claim1 /atem5t1 or o!r      
docum5t1 or paym5t1 is s5t              
electronically by su* p]son %all be     
deem$ to be ! date ( deliv]y or ! date (
 paym5t1 z ! case may be1 reg>dless ( ! 
date on :i* ! applicable ag5cy1 (fic]1  
or (fice receives or reviews su* return1
 claim1 /atem5t1 docum5t1 or paym5t4    
7,b7 ,regulations ,n lat] ?an ,decemb]  
#ca1 #bjbe1 ! ,secret>y %all issue su*  
regulations or o!r guidance z !         
,secret>y det]m9es necess>y to c>ry out 
! purposes ( ?is p>agraph4  4  7b7      
,effective date ,! am5dm5ts made by ?is 
section %all apply to any docum5t or    
paym5t s5t aft] ,decemb] #ca1 #bjbe4    

#c4 ,ext5sion ( "t = mak+ ,s corporation
 elections  7a7 ,9 g5]al ,section       
#acfb7;b7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$ to read z foll[s3  7b7   
,:5 made  7#a7 ,9 g5]al ,an election "u 
subsection 7a7 may be made by a small   
bus9ess corporation = any taxable ye> n 
lat] ?an ! due date = fil+ ! return ( ! 
,s corporation = su* taxable ye>        
7includ+ ext5sions74  7#b7 ,c]ta9       
elections treat$ z made = next taxable  
ye> ,if-- 7,a7 an election "u subsection
 7a7 is made = any taxable ye> )9 !     
p]iod describ$ 9 p>agraph 7#a71 b  7,b7 
ei!r-- 7i7 on #a or m days 9 su* taxable
 ye> & be=e ! day on :i* ! election 0   
made ! corporation did n meet !         
requirem5ts ( subsection 7b7 ( section  
#acfa1 or  7ii7 #a or m ( ! p]sons :o   
held /ock 9 ! corporation dur+ su*      
taxable ye> & be=e ! election 0 made did
 n cons5t to ! election1  !n su*        
election %all be treat$ z made = !      
foll[+ taxable ye>4  7#c7 ,au?ority to  
treat late elections1 etc41 z timely    

,if-- 7,a7 an election "u subsection 7a7
 is made = any taxable ye> aft] ! date  
prescrib$ by ?is subsection = mak+ su*  
election = su* taxable ye> or no su*    
election is made = any taxable ye>1 &   
7,b7 ! ,secret>y det]m9es t !re 0       
reasonable cause = ! failure to timely  
make su* election1  ! ,secret>y may     
treat su* an election z timely made =   
su* taxable ye>4  7#d7 ,election on     
timely fil$ returns ,except z o!rwise   
provid$ by ! ,secret>y1 an election "u  
subsection 7a7 = any taxable ye> may be 
made on a timely fil$ return ( ! ,s     
corporation = su* taxable ye>4  7#e7    
,secret>ial au?ority ,! ,secret>y may   
prescribe su* regulations1 rules1 or o!r
 guidance z may be necess>y or          
appropriate = purposes ( apply+ ?is     
subsection4  4  7b7 ,coord9ation ) c]ta9
 o!r provisions  7#a7 ,qualifi$ sub*apt]
 ,s subsidi>ies ,section                
#acfa7;b77#c77;,b7 ( su* ,code is am5d$ 
by add+ at ! end ! foll[+ flu% s5t5ce3  
,rules simil> to ! rules ( section      

#acfb7;b7 %all apply ) respect to any   
election "u clause 7ii74 4  7#b7        
,qualifi$ sub*apt] ,s tru/s ,section    
#acfa7;d77#b7 ( su* ,code is am5d$ by   
/rik+ subp>agraph 7,d74  7c7            
,revocations ,section #acfb7;d77#a7 (   
su* ,code is am5d$-- 7#a7 by /rik+      
subp>agraph 7,d7 9 subp>agraph 7,c7 &   
ins]t+ subp>agraphs 7,d7 & 7,e71 &  7#b7
 by add+ at ! end ! foll[+ new          
subp>agraph3  7,e7 ,au?ority to treat   
late revocations z timely ,if-- 7i7 a   
revocation "u subp>agraph 7,a7 is made =
 any taxable ye> aft] ! date prescrib$  
by ?is p>agraph = mak+ su* revocation = 
su* taxable ye> or no su* revocation is 
made = any taxable ye>1 &  7ii7 !       
,secret>y det]m9es t !re 0 reasonable   
cause = ! failure to timely make su*    
revocation1  ! ,secret>y may treat su* a
 revocation z timely made = su* taxable 
ye>4  4  7d7 ,effective date  7#a7 ,9   
g5]al ,except z o!rwise provid$ 9 ?is   
subsection1 ! am5dm5ts made by ?is      
section %all apply to elections =       

taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjbe4  7#b7 ,revocations ,! am5dm5ts   
made by subsection 7c7 %all apply to    
revocations made aft] ! date ( !        
enactm5t ( ?is ,act4  #d4 ,qu>t]ly      
in/allm5ts = e/imat$ income tax paym5ts 
by individual  7a7 ,9 g5]al ,! table    
conta9$ 9 section #ffed7;c77#b7 ( !     
,int]nal ,rev5ue ,code ( #aihf is       
am5d$-- 7#a7 by /rik+ ,june #ae & ins]t+
 ,july #ae1 &  7#b7 by /rik+ ,septemb]  
#ae & ins]t+ ,octob] #ae4  7b7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to in/allm5ts due 9  
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjbe4