Tax Administration Simplification Act

The Tax Administration Simplification Act streamlines tax filing for businesses and individuals by updating key deadlines and procedures. It extends the deadline for S corporations to make elections until the tax return due date (including extensions) and shifts individual estimated tax payment due dates from June 15 and September 15 to July 15 and October 15. The bill also extends the "mailbox rule" to electronic filings and payments, treating them as timely if transmitted by the deadline - even if processed later. These changes apply to tax years beginning after the bill's enactment, with electronic filing rules effective one year post-enactment.