Miscellaneous Revenue Act

[AI summary unavailable — showing source text] Miscellaneous Revenue Act - Amends the Internal Revenue Code to permit a corporation which had not been classified as a personal holding company for the three years preceeding the taxable year to treat a dividend paid after the close of the taxable year, but prior to March 15 of the following year, as paid during the taxable year, for purposes of determining the dividends-paid deduction from personal holding company income. Prohibits the payment of any dividend which exceeds the undistributed personal holding company income of the corporation for the taxable year. Prescribes a date for the filing of an agreement to notify the Secretary of the Treasury of any acquisition of an interest in a corporation which might affect the capital gains tax treatment of a previous corporate distribution. Permits bankrupt estates to qualify as shareholders in Subchapter S corporations. Allows interest to be paid to taxpayers on money or property wrongfully seized by the Internal Revenue Service for the period in which such money or property is held. Repeals the filing requirements applicable to an individual who transfers income producing property valued in excess of $50,000 to a tax exempt organiz…