Paperwork Relief for Small Businesses Act of 2005

Paperwork Relief for Small Businesses Act of 2005 - Amends the Internal Revenue Code to permit taxpayers who reasonably expect to owe $50,000 or less in annual taxes on distilled spirits, wines, and beer to make quarterly (rather than semimonthly) tax payments.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1520 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 1520

 To amend the Internal Revenue Code of 1986 to provide for the tax on 
   distilled spirits, wine, and beer to be collected quarterly from 
                        certain small taxpayers.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 6, 2005

Mr. Lewis of Kentucky introduced the following bill; which was referred 
                   to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide for the tax on 
   distilled spirits, wine, and beer to be collected quarterly from 
                        certain small taxpayers.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Paperwork Relief for Small 
Businesses Act of 2005''.

SEC. 2. TAX ON DISTILLED SPIRITS, WINE, AND BEER COLLECTED QUARTERLY 
              FROM SMALL TAXPAYERS.

    (a) In General.--Subsection (d) of section 5061 of the Internal 
Revenue Code of 1986 (relating to time for collecting tax on distilled 
spirits, wines, and beer) is amended by adding at the end the following 
new paragraph:
            ``(6) Quarterly payments from small taxpayers.--
                    ``(A) In general.--In the case of a small taxpayer, 
                paragraphs (1), (2), and (3) shall each be applied by 
                substituting `calendar quarter' for `semimonthly 
                period' each place it appears therein.
                    ``(B) Small taxpayer.--For purposes this paragraph, 
                the term `small taxpayer' means any person for any 
                calendar year if--
                            ``(i) such person reasonably expects (as of 
                        the beginning of the calendar year) $50,000 or 
                        less to be due from such person under this 
                        subsection during such calendar year, and
                            ``(ii) $50,000 or less was due from such 
                        person under this subsection during the 
                        previous calendar year.
                    ``(C) No application after limit exceeded.--
                Subparagraph (A) shall not apply to any small taxpayer 
                for any portion of the calendar year following the 
                first date on which the aggregate amount of tax due 
                under this subsection from such person during such 
                calendar year (determined after application of 
                subparagraph (A)) exceeds $50,000.
                    ``(D) Coordination with special rule for 
                september.--Paragraph (4) shall not apply to taxes for 
                any period which is included in a calendar quarter with 
                respect to which this paragraph applies.''.
    (b) Effective Date.--The amendments made by this section shall take 
effect on December 31, 2005.
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