A bill to amend the Internal Revenue Code of 1986 to clarify that payment of taxes on deferred foreign income in installments shall not prevent credit or refund of overpayments or increase estimated taxes.
Tax Payment Clarification Act
This bill amends the Internal Revenue Code to provide that installment payment of taxes on deferred foreign income shall not prevent a credit or refund of overpayments of tax or an increase in estimated taxes.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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