[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 584 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 584

   To amend the Internal Revenue Code of 1986 to change the time for 
    filing income tax returns from April 15 to the first Tuesday in 
                   November, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 15, 1997

  Mr. Abraham introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to change the time for 
    filing income tax returns from April 15 to the first Tuesday in 
                   November, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``____ Act''.

SEC. 2. CHANGE IN FILING DATE FOR INDIVIDUAL INCOME TAX RETURNS TO 
              ELECTION DAY.

    (a) In General.--Section 6072(a) of the Internal Revenue Code of 
1986 (relating to time for filing income tax returns) is amended--
            (1) by striking ``15th day of April'' and inserting ``1st 
        Tuesday in November'', and
            (2) by striking ``15th day of the fourth month'' and 
        inserting ``1st Tuesday in the 11th month.''
    (b) Conforming Amendments.--
            (1) Section 3510(a)(2) of such Code (relating to 
        coordination of collection of domestic service employment taxes 
        with collection of income taxes) is amended by striking ``15th 
        day of the fourth month'' and inserting ``1st Tuesday in the 
        11th month.''
            (2) Section 6075(b) of the Internal Revenue Code of 1986 
        (relating to gift tax returns) is amended--
                    (A) in paragraph (3), by striking ``paragraphs (1) 
                and (2)'' and inserting ``paragraph (1)'',
                    (B) by striking paragraph (2), and
                    (C) by redesignating paragraph (3) as paragraph 
                (2).
            (3) Section 6501(b)(2) of such Code (relating to return of 
        certain employment taxes and tax imposed by chapter 3) is 
        amended by striking ``April 15'' both places it appears and 
        inserting ``the 1st Tuesday in November''.
            (4) Section 6513 of such Code (relating to time return 
        deemed filed and tax considered paid) is amended--
                    (A) in subsection (b)(1), by striking ``15th day of 
                the fourth month'' and inserting ``1st Tuesday in the 
                11th month'', and
                    (B) in subsection (c), by striking ``April 15'' 
                each place it appears and inserting ``the 1st Tuesday 
                in November''.
            (5) Section 6621(b)(2)(B) of such Code (relating to special 
        rule for individual estimated tax) is amended--
                    (A) by striking ``3rd month'' and inserting ``10th 
                month'', and
                    (B) by striking ``15 days of the 4th month'' and 
                inserting ``the period beginning with the 1st day and 
                ending with the 1st Tuesday in the 11th month''.
            (6) Section 6654(b)(2)(A) of such Code (relating to period 
        of underpayment) is amended by striking ``15th day of the 4th 
        month'' and inserting ``1st Tuesday in the 11th month.''
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1997.

SEC. 3. CHANGE IN FEDERAL FISCAL YEAR.

    (a) In General.--Notwithstanding any other provision of law, 
effective with fiscal year 1998, each fiscal year shall end on December 
31.
    (b) Transition Rules.--Not later than 90 days after the date of 
enactment of this Act, the Director of the Office of Management and 
Budget shall submit to Congress a legislative proposal proposing such 
technical and conforming amendments as are necessary to bring the law 
into conformity with the change specified in subsection (a).
                                 <all>