A bill to repeal the provision of the Tax Reform Act of 1986 which increases the current year liability test for estimated tax payments from 80 to 90 percent.

Amends the Tax Reform Act of 1986 to repeal provisions which increase the current year liability test for estimated tax payments from 80 percent to 90 percent.

Provides that the Internal Revenue Code shall be applied and administered as if such section has not been enacted.