A bill to extend the time for payment of certain taxes under the internal revenue laws for taxpayers in States in which one-third or more of the depository institutions have been simultaneously closed for a period of at least 5 days.

Allows taxpayers whose deposits have been frozen due to a State bank holiday of at least five consecutive business days to defer the payment of certain taxes until the earlier of April 15, 1992, or the date which is 30 days after the frozen deposits become available.