This legislative proposal aims to simplify tax obligations and provide financial relief for certain taxpayers. It achieves this by amending the Internal Revenue Code of 1986 to exclude from gross income any interest paid on an overpayment of tax . This beneficial provision is specifically targeted towards individuals and eligible small businesses , ensuring they do not pay tax on money they receive back from the government due to an overpayment. The bill accomplishes this by inserting a new section, 139J, into Part III of subchapter B of chapter 1 of the Internal Revenue Code. This new section explicitly states that such interest will not be considered gross income for the specified entities. The amendments made by this Act will take effect for all taxable years beginning after the date of its enactment.