To amend the Internal Revenue Code of 1986 to extend the period of time for making S corporation elections, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to extend the period of time for making S corporation elections, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Immigration, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Tax Administration Simplification Act.
- Section id678054E5EBD84A408DFB6C063CFAB065: 2. Extension of time for making S corporation elections Section 1362(b)(1) of the Internal Revenue Code of 1986 is amended to read as follows: (1)In generalAn...
- Section H601EDD1C872E4B29B54A6E0C1A5ADA83: 3. Quarterly installments for estimated income tax payments by individuals The table contained in section 6654(c)(2) of the Internal Revenue Code of 1986 is...
- Section idEF0120BD142348C0A845D694DC9828CD: 4. Extension of mailbox rule to electronic submissions and payments Section 7502(c) of the Internal Revenue Code of 1986 is amended— in the heading, by...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to extend the period of time for making S corporation elections, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Immigration, Government Operations
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to extend the period of time for making S corporation elections, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMrs. Blackburn (for herself and Ms. Cortez Masto) introduced the …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → The Secretary identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology