[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 420 Introduced in Senate (IS)]

113th CONGRESS
  1st Session
                                 S. 420

 To amend the Internal Revenue Code of 1986 to provide for the logical 
flow of return information between partnerships, corporations, trusts, 
estates, and individuals to better enable each party to submit timely, 
accurate returns and reduce the need for extended and amended returns, 
  to provide for modified due dates by regulation, and to conform the 
 automatic corporate extension period to longstanding regulatory rule.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 28, 2013

 Mr. Enzi (for himself and Mr. Tester) 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 provide for the logical 
flow of return information between partnerships, corporations, trusts, 
estates, and individuals to better enable each party to submit timely, 
accurate returns and reduce the need for extended and amended returns, 
  to provide for modified due dates by regulation, and to conform the 
 automatic corporate extension period to longstanding regulatory rule.

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

SECTION 1. SHORT TITLE; REFERENCE.

    (a) Short Title.--This Act may be cited as the ``Tax Return Due 
Date Simplification and Modernization Act of 2013''.
    (b) Reference.--Except as otherwise expressly provided, whenever in 
this Act an amendment or repeal is expressed in terms of an amendment 
to, or repeal of, a section or other provision, the reference shall be 
considered to be made to a section or other provision of the Internal 
Revenue Code of 1986.

SEC. 2. NEW DUE DATE FOR PARTNERSHIP FORM 1065, S CORPORATION FORM 
              1120S, AND C CORPORATION FORM 1120.

    (a) Partnerships.--
            (1) In general.--Section 6072 is amended by adding at the 
        end the following new subsection:
    ``(f) Returns of Partnerships.--Returns of partnerships under 
section 6031 made on the basis of the calendar year shall be filed on 
or before the 15th day of March following the close of the calendar 
year, and such returns made on the basis of a fiscal year shall be 
filed on or before the 15th day of the third month following the close 
of the fiscal year.''.
            (2) Conforming amendment.--Section 6072(a) is amended by 
        striking ``6017, or 6031'' and inserting ``or 6017''.
    (b) S Corporations.--
            (1) In general.--So much of subsection (b) of 6072 as 
        precedes the second sentence thereof is amended to read as 
        follows:
    ``(b) Returns of Certain Corporations.--Returns of S corporations 
under sections 6012 and 6037 made on the basis of the calendar year 
shall be filed on or before the 31st day of March following the close 
of the calendar year, and such returns made on the basis of a fiscal 
year shall be filed on or before the last day of the third month 
following the close of the fiscal year.''.
            (2) Conforming amendments.--
                    (A) Section 1362(b) is amended--
                            (i) by striking ``15th'' each place it 
                        appears and inserting ``last'',
                            (ii) by striking ``2\1/2\'' each place it 
                        appears and inserting ``3'', and
                            (iii) by striking ``2 months and 15 days'' 
                        in paragraph (4) and inserting ``3 months''.
                    (B) Section 1362(d)(1)(C)(i) is amended by striking 
                ``15th'' and inserting ``last''.
                    (C) Section 1362(d)(1)(C)(ii) is amended by 
                striking ``such 15th day'' and inserting ``the last day 
                of the 3d month thereof''.
    (c) Conforming Amendments Relating to C Corporations.--
            (1) Section 170(a)(2)(B) is amended by striking ``third 
        month'' and inserting ``4th month''.
            (2) Section 563 is amended by striking ``third month'' each 
        place it appears and inserting ``4th month''.
            (3) Section 1354(d)(1)(B)(i) is amended by striking ``3d 
        month'' and inserting ``4th month''.
            (4) Subsection (a) and (c) of section 6167 are each amended 
        by striking ``third month'' and inserting ``4th month''.
            (5) Section 6425(a)(1) is amended by striking ``third 
        month'' and inserting ``4th month''.
            (6) Subsections (b)(2)(A), (g)(3), and (h)(1) of section 
        6655 are each amended by striking ``3rd month'' and inserting 
        ``4th month''.
    (d) Effective Date.--The amendments made by this section shall 
apply to returns for taxable years beginning after December 31, 2013.

SEC. 3. MODIFICATION OF DUE DATES BY REGULATION.

    In the case of returns for taxable years beginning after December 
31, 2013, the Secretary of the Treasury or the Secretary's delegate 
shall modify appropriate regulations to provide as follows:
            (1) The maximum extension for the returns of partnerships 
        filing Form 1065 shall be a 6-month period beginning on the due 
        date for filing the return (without regard to any extensions).
            (2) The maximum extension for the returns of trusts and 
        estates filing Form 1041 shall be a 5\1/2\-month period 
        beginning on the due date for filing the return (without regard 
        to any extensions).
            (3) The maximum extension for the returns of employee 
        benefit plans filing Form 5500 shall be an automatic 3\1/2\-
        month period beginning on the due date for filing the return 
        (without regard to any extensions).
            (4) The maximum extension for the Forms 990 (series) 
        returns of organizations exempt from income tax shall be an 
        automatic 6-month period beginning on the due date for filing 
        the return (without regard to any extensions).
            (5) The maximum extension for the returns of organizations 
        exempt from income tax that are required to file Form 4720 
        returns of excise taxes shall be an automatic 6-month period 
        beginning on the due date for filing the return (without regard 
        to any extensions).
            (6) The maximum extension for the returns of trusts 
        required to file Form 5227 shall be an automatic 6-month period 
        beginning on the due date for filing the return (without regard 
        to any extensions).
            (7) The maximum extension for the returns of Black Lung 
        Benefit Trusts required to file Form 6069 returns of excise 
        taxes shall be an automatic 6-month period beginning on the due 
        date for filing the return (without regard to any extensions).
            (8) The maximum extension for a taxpayer required to file 
        Form 8870 shall be an automatic 6-month period beginning on the 
        due date for filing the return (without regard to any 
        extensions).
            (9) The due date of Form 3520-A, Annual Information Return 
        of a Foreign Trust with a United States Owner, shall be the 
        15th day of the 4th month after the close of the trust's 
        taxable year, and the maximum extension shall be a 6-month 
        period beginning on such day.
            (10) The due date of Form TD F 90-22.1 (relating to Report 
        of Foreign Bank and Financial Accounts) shall be April 15 with 
        a maximum extension for a 6-month period ending on October 15, 
        and with provision for an extension under rules similar to the 
        rules of 26 C.F.R. 1.6081-5. For any taxpayer required to file 
        such form for the first time, the Secretary of the Treasury may 
        waive any penalty for failure to timely request or file an 
        extension.
            (11) Taxpayers filing Form 3520, Annual Return to Report 
        Transactions with Foreign Trusts and Receipt of Certain Foreign 
        Gifts, shall be allowed to extend the time for filing such form 
        separately from the income tax return of the taxpayer, for an 
        automatic 6-month period beginning on the due date for filing 
        the return (without regard to any extensions).

SEC. 4. CORPORATIONS PERMITTED STATUTORY AUTOMATIC 6-MONTH EXTENSION OF 
              INCOME TAX RETURNS.

    (a) In General.--Section 6081(b) is amended by striking ``3 
months'' and inserting ``6 months''.
    (b) Effective Date.--The amendment made by this section shall apply 
to returns for taxable years beginning after December 31, 2013.
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