Private Delivery Services Qualify for Timely-Mailing/Timely-Filing

The IRS is authorized to extend the "timely mailed is timely filed" rule to designated private delivery services.

A delivery service may be designated only if the service:

• is available to the general public;
• is at least as timely, on a regular basis, as the U.S. Mail; 
• satisfies recordkeeping criteria; and 
• meets any additional criteria the IRS prescribes.

The IRS is given similar authority to treat services provided by a designated private delivery service as the equivalent of U.S. certified or registered mail.

Effective on the date of enactment.

Disclosure to Designee of Taxpayer

Deletes the requirement that a taxpayer's request for disclosure to a designee be in writing and allows IRS to adopt alternatives to the written request requirement as it moves to a paperless system.

Since reasonable restrictions will be imposed on the form in which a taxpayer's request is made, in no event will IRS accept an unconfirmed verbal request.

Effective on the date of enactment.

Reporting on Netting of Interest

Requires that Treasury conduct a study of:

• how the netting of interest on overpayments and underpayments is being accomplished, and 
• administrative implications of global netting. 

The report is due no later than 6 months after the date of enactment.