A bill to repeal the provisions of the Tax Reform Act of 1986 which require partnerships, S corporations, and personal service corporations to adopt certain taxable years.

[AI summary unavailable — showing source text] Repeals specified provisions of the Tax Reform Act of 1986 that require partnerships, S corporations, and personal service corporations to adopt certain taxable years. Provides that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted.…