The first installment is due on the return date, then one a year
To provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70437, Sec. 70437.
Written by .
The first installment is due on the return date, then one a year
The document says “shall”Who acts: Secretary of the TreasuryHow: statuteSec. 70437 in the PDF
What the document says
“the first installment shall be paid on the due date (determined without regard to any extension of time for filing the return) for the return of tax for the taxable year in which the sale or exchange occurs”
The section requires the first installment on the return due date for the year of the sale, worked out without regard to any filing extension, and each later installment on the return due date for the following taxable year.
What the document actually says
“the first installment shall be paid on the due date (determined without regard to any extension of time for filing the return) for the return of tax for the taxable year in which the sale or exchange occurs”
That sentence, in plain words
The first part is due when the return is due. That date ignores any filing extension. It is the year of the sale.
What this is about
Each later part is due a year after the last. So the four parts fall over four years. An extension does not move the date.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70437, 139 Stat. 248 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The first installment is due on the return date, then one a year,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70437, Sec. 70437. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70437-timing/ (retrieved August 26, 2026).
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