Vote Smart's Synopsis:

Vote to pass a bill that requires the Internal Revenue Service (IRS) to treat the postponement of the federal tax return deadline due to a federally declared disaster or certain other events as an extension of such deadline for purposes of calculating the limit on a tax refund.

Highlights:

• Requires the Internal Revenue Service (IRS) to treat the postponement of the federal tax return deadline due to a federally declared disaster or certain other events as an extension of such deadline for purposes of calculating the limit on a tax refund (Sec. 2).

• Requires that the IRS’s deadline for sending certain notices include such postponement (Sec. 2).

• Specifies that under current law a tax refund claim must be filed within three years of the date that the federal tax return is filed and that the tax refund amount generally is limited to federal taxes paid within the three years preceding the tax refund claim plus any extension of the federal tax return deadline (lookback period) (Sec. 2).

• Specifies that the postponement of the federal tax return deadline is not an extension for purposes of the lookback period. (Thus, certain tax payments made before the federal tax return is filed may be excluded from the lookback period) (Sec. 2).

• Requires that a federal tax return deadline postponed due to a federally declared disaster or certain other events must be treated as an extension of such deadline for purposes of the lookback period (Sec. 2).

• Specifies that under current law the IRS is required to mail a notice and demand for tax payment within 60 days of an assessment but not before the tax payment due date (Sec. 2).

• Requires that the tax payment due date includes the postponement of the tax payment deadline due to a federally declared disaster or certain other events (Sec. 2).

Full Bill Text

Full Bill Text