06/28/2024 | Press release | Distributed by Public on 06/28/2024 07:17
Washington, D.C. - Congressman Darin LaHood (IL-16), a member of the House Ways and Means Committee, introduced the Tax Administration Simplification Act, bipartisan legislation to simplify the tax filing and payment processes for taxpayers and small businesses. The Tax Administration Simplification Act would apply the mailbox rule to electronically submitted documents and tax payments to the IRS, allow newly-formed small businesses to elect to be treated as an S Corporation on their first tax filing, and revise the estimated tax payment deadlines to fall on quarterly intervals instead of the current irregular payment schedule.
LaHood was joined by Reps. Brad Schneider (IL-10), Randy Feenstra (IA-04), Suzan DelBene (WA-04), Brian Fitzpatrick (PA-01), Jimmy Panetta (CA-19), and Debbie Lesko (AZ-08) as co-leads on the legislation.
"As the Ways and Means Committee works to strengthen our tax code, it is important that we improve taxpayer rights and the administrative process to reduce burdensome filing challenges," said Rep. LaHood. "The Tax Administration Simplification Act builds off of recommendations from the National Taxpayer Advocate and previous legislation to simplify the tax filing and payment processes for American workers and small businesses. I am proud to lead this bipartisan effort and look forward to working with my Ways and Means colleagues to streamline the tax filing process."
The Tax Administration Simplification Act:
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