[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 720 Introduced in Senate (IS)]







109th CONGRESS
  1st Session
                                 S. 720

  To amend the Internal Revenue Code of 1986 to eliminate unnecessary 
 paperwork burdens on government and small businesses by reducing the 
  number of excise tax returns filed by small taxpayers that pay the 
                 Federal excise tax on wines and beer.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 6, 2005

Mr. Bingaman (for himself and Mr. Smith) 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 eliminate unnecessary 
 paperwork burdens on government and small businesses by reducing the 
  number of excise tax returns filed by small taxpayers that pay the 
                 Federal excise tax on wines and beer.

    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 ``Paperwork Relief for Small Business 
Act of 2005''.

SEC. 2. PAPERWORK REDUCTION FOR SMALL TAXPAYERS.

    (a) In General.--Subsection (d) of section 5061 of the Internal 
Revenue Code of 1986 (relating to time for collecting tax on distilled 
spirits, wines, and beer) is amended by redesignating paragraphs (4) 
and (5) as paragraphs (5) and (6), respectively, and by inserting after 
paragraph (3) the following new paragraph:
            ``(4) Taxpayers liable for taxes of not more than 
        $50,000.--
                    ``(A) In general.--In the case of any taxpayer who 
                reasonably expects to be liable for not more than 
                $50,000 in taxes imposed on wines and beer under 
                subparts C and D for the calendar year and who was 
                liable for not more than $50,000 in such taxes in the 
                preceding calendar year, the last day for the payment 
                of tax shall be the 14th day after the last day of the 
                calendar quarter during which withdrawal occurs.
                    ``(B) No application after limit exceeded.--
                Subparagraph (A) shall not apply to any taxpayer for 
                any portion of the calendar year following the first 
                date on which the aggregate amount of tax due under 
                subparts C and D from such taxpayer during such 
                calendar year exceeds $50,000, and any tax under such 
                subparts which has not been paid on such date shall be 
                due on the 14th day after the last day of the 
                semimonthly period in which such date occurs.
                    ``(C) Calendar quarter.--For purposes of this 
                paragraph, the term `calendar quarter' means the three 
                month period ending on March 31, June 30, September 30, 
                or December 31.''.
    (b) Effective Date.--The amendments made by this section shall take 
effect 90 days after the date of the enactment of this Act.
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