A bill to repeal the provisions of the Tax Reform Act of 1986 which require certain entities to adopt certain taxable years.

[AI summary unavailable — showing source text] Amends the Tax Reform Act of 1986 to repeal provisions revising the taxable years of: (1) partnerships; (2) S corporations; (3) personal service corporations; and (4) trusts. States that the Internal Revenue Code shall be applied and administered as if such provisions had not been enacted.…