A bill to amend the Internal Revenue Code of 1954 to provide that under certain circumstances married individuals shall be taxed as though they file a single joint return, although one or both spouses file a separate return.

Amends the Internal Revenue Code to provide that a married individual who resides in the same household as or in a separate household from such individual's spouse and who files a separate return may elect to have the Secretary of the Treasury recompute the taxes of such individual and such individual's spouse as though they were filing a single joint return. Provides that the amount of any reduction in tax as a result of such computation shall be paid (without interest) to such individual and such individual's spouse in the same proportion that each individual's taxable income bears to the aggregate taxable income.