123 
(5) Section 6212(b) is amended to read as fol-
lows: 
‘‘(b) ADDRESS FOR NOTICE OF DEFICIENCY.—In the 
absence of notice to the Secretary under section 6903 of 
the existence of a fiduciary relationship, notice of a defi-
ciency in respect of a tax imposed by chapter 42, 43, or 
44 if mailed to the taxpayer at his last known address, 
shall be sufficient for purposes of such chapter and this 
chapter even if such taxpayer is deceased, or is under a 
legal disability, or, in the case of a corporation has termi-
nated its existence.’’. 
(6) Section 6302(b) is amended by striking 
‘‘21,’’. 
(7) Section 6302 is amended by striking sub-
sections (g) and (i) and by redesignating subsection 
(h) as subsection (g). 
(8) Section 6325 is amended by striking sub-
section (c) and by redesignating subsections (d) 
through (h) as subsections (c) through (g), respec-
tively. 
(9) Section 6402(d) is amended by striking 
paragraph (3). 
(10) Section 6402 is amended by striking sub-
section (j) and by redesignating subsection (k) as 
subsection (j).
124 
(11) Section 6501(b) is amended— 
(A) by striking ‘‘except tax imposed by 
chapter 3, 21, or 24,’’ in paragraph (1), and 
(B) by striking paragraph (2) and by re-
designation paragraphs (3) and (4) as para-
graphs (2) and (3), respectively. 
(12) Section 6501(c) is amended by striking 
paragraphs (5) through (9). 
(13) Section 6501(e) is amended by striking 
‘‘subsection (c)—’’ and all that follows through 
‘‘subtitle D’’ in paragraph (3) and inserting ‘‘sub-
section (c), in the case of a return of a tax imposed 
under a provision of subtitle B’’. 
(14) Section 6501 is amended by striking sub-
section (f) through (k) and subsections (m) and (n) 
and by redesignating subsection (1) as subsection 
(f). 
(15) Section 6503(a) is amended— 
(A) by striking paragraph (2), 
(B) by striking ‘‘DEFICIENCY.—’’and all 
that follows through ‘‘The running’’ and insert-
ing ‘‘DEFICIENCY.—The running’’, and 
(C) by striking ‘‘income, estate, gift and’’. 
(16) Section 6503 is amended by striking sub-
sections (e), (f), (i), and (k) and by redesignating
125 
subsections (g), (h), and (j) as subsections (e), (f), 
and (g), respectively. 
(17) Section 6511 is amended by striking sub-
sections (d) and (g) and by redesignating sub-
sections (f) and (h) as subsections (d) and (e), re-
spectively. 
(18) Section 6512(b)(1) is amended by striking 
‘‘of income tax for the same taxable year, of gift tax 
for the same calendar year or calendar quarter, of 
estate tax in respect of the taxable estate of the 
same decedent or’’. 
(19) Section 6513 is amended— 
(A) by striking ‘‘(a) EARLY RETURN OR 
ADVANCE PAYMENT OF TAX.—’’, 
(B) by striking subsections (b) and (e). 
(20) Chapter 67 is amended by striking sub-
chapters A through D and inserting the following: 
‘‘SEC. 6601. INTEREST ON OVERPAYMENTS AND UNDER-
PAYMENT. 
‘‘(a) UNDERPAYMENTS.—If any amount of tax im-
posed by this title is not paid on or before the last date 
prescribed for payment, interest on such amount at the 
Federal short-term rate (as defined in section 512(b)) 
shall be paid from such last date to the date paid.
126 
‘‘(b) OVERPAYMENTS.—Interest shall be allowed and 
paid upon any overpayment in respect of any internal rev-
enue tax at the Federal short-term rate (as defined in sec-
tion 512(b)) from 60 days after the date of the overpay-
ment until the date the overpayment is refunded.’’. 
(21) Section 6651(a)(1) is amended by striking 
‘‘subchapter A of chapter 61 (other than part III 
thereof,’’. 
(22) Section 6656 is amended by striking sub-
section (c) and by redesignating subsection (d) as 
subsection (c). 
(23) Section 6663 is amended by striking sub-
section (c). 
(24) Section 6664(c) is amended— 
(A) by striking ‘‘Exception.—’’ and all 
that follows through ‘‘No penalty’’ and insert-
ing ‘‘Exception.—No penalty,’’ and 
(B) by striking paragraphs (2) and (3). 
(25) Chapter 72 is amended by striking all 
matter preceding section 7011. 
(26) Section 7422 is amended by striking sub-
sections (h) and (i) and by redesignating subsections 
(j) and (k) as subsections (h) and (i), respectively. 
(27) Section 7451 is amended to read as fol-
lows: