[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1726 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1726

  To amend the Internal Revenue Code of 1986 to require the Internal 
  Revenue Service to pay interest on late refunds of certain required 
payments made by entities electing not to have a required taxable year.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 20, 1993

   Mr. Bachus of Alabama (for himself and Mr. Bevill) introduced the 
 following bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to require the Internal 
  Revenue Service to pay interest on late refunds of certain required 
payments made by entities electing not to have a required taxable year.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. INTEREST PAYABLE ON LATE REFUNDS OF CERTAIN REQUIRED 
              PAYMENTS BY ENTITIES ELECTING NOT TO HAVE REQUIRED 
              TAXABLE YEAR.

    (a) In General.--Paragraph (3) of section 7519(f) of the Internal 
Revenue Code of 1986 (relating to required payments for entities 
electing not to have required taxable year) is amended by inserting 
before the period ``if such refund is made on or before the date the 
refund is payable under subsection (c)(3)''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect as if included in the amendments made by section 10206 of 
the Revenue Act of 1987.

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