Small Business Election Simplification Act

Summary

Small Business Election Simplification Act - Amends the Internal Revenue Code, with respect to the subchapter S election for corporate taxpayers, to: (1) extend the deadline for filing such election to the due date (with extensions) of the corporation's tax return, (2) authorize the Secretary of the Treasury to treat a late filing or revocation of an election as timely filed or revoked if there is reasonable cause for failing to make a timely filing or revocation, and (3) allow taxpayers to make a subchapter S election on their current tax return in lieu of filing a separate form for making such election.

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Timeline

1. 29 March 2012

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2252-2253)

   Source: IntroReferral

2. 29 March 2012

   Introduced

   Sponsor introductory remarks on measure. (CR S2251-2252)

   Source: IntroReferral

3. 29 March 2012

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 29 March 2012 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 29 March 2012

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 29 March 2012

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 29 March 2012

  Open at official source

Sponsors

• Sen. Franken, Al [D-MN] · D · Sponsor
• Rep. Snowe, Olympia J. [R-ME-2] · R · Sponsor
• Sen. Enzi, Michael B. [R-WY] · R · Sponsor
• · ssfi00 · Standing

Related records

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