TIMELY MAILING OF DEPOSITS.

SEC. 106. TIMELY MAILING OF DEPOSITS. (a) Timely Mailing Treated as Timely Deposit.— Section 7502 (relating to timely mailing treated as timely filing and paying) is amended by adding at the end thereof the following new subsection: “(e) Mailing of Deposits.— “(1) Date of deposit.— If any deposit required to be made (pursuant to regulations prescribed by the Secretary or his delegate under section 6302 (c)) on or before a prescribed date is, after such date, delivered by the United States mail to the bank or trust company authorized to receive such deposit, such deposit shall be deemed received by such bank or trust company on the date the deposit was mailed. “(2) Mailing requirements.— Paragraph (1) shall apply only if the person required to make the deposit establishes that— “(A) the date of mailing falls on or before the second day before the prescribed date for making the deposit (including any extension of time granted for making such deposit), and “(B) the deposit was, on or before such second day, mailed in the United States in an envelope or other appropriate wrapper, postage prepaid, properly addressed to the bank or trust company authorized to receive such deposit. In applying subsection (c) for purposes of this subsection, the term ‘payment’ includes ‘deposit, and the reference to the post-mark date refers to the date of mailing.” (b) Effective Date.— The amendment made by subsection (a) shall apply only as to mailing occurring after the date of the enactment of this Act.