S.684

Extends the time for making S corporation elections and modifies estimated tax payment deadlines.

The Tax Administration Simplification Act amends the Internal Revenue Code to extend the period for making S corporation elections to the due date of the corporation's tax return, including extensions. It also modifies the deadlines for estimated tax payments by individuals, aligning them with the new S corporation election period. Additionally, the bill extends the mailbox rule to electronic submissions and payments, allowing for late filings and payments if transmitted electronically on or before the due date.