12 months after the date of the enactment of this section, the Secretary shall by regulations require the reporting of any information concerning the net value of assets appropriate to enforce the tax imposed by this chapter. (b) Method of reporting The Secretary shall, where appropriate, require the reporting made under subsection (a) to be made as a part of existing income reporting requirements (including requirements under chapter 4 (relating to taxes to enforce reporting on certain foreign accounts)). (c) Responsibility for reporting The Secretary may impose reporting obligations by reference to the ownership, control, management, claim to income from, or other relationship to assets and liabilities for purposes of administering the tax imposed by this section and may impose such obligations on financial institutions, business entities, or other persons, including requiring business entities to provide estimates of the value of the entity itself. 2905. Enforcement The Secretary shall annually audit not less than 30 percent of taxpayers required to pay the tax imposed under this chapter. . (b) No deduction from income taxes Section 275 of the Internal Revenue Code of 1986 is amended by inserting after paragraph (6) the following new paragraph: (7) Taxes imposed by chapter 18. . (c) Extension of time for payment of tax (1) In general Section 6161(a) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (3) Wealth tax (A) In general In the case of taxpayer described in subparagraph (B), the Secretary may extend the time for payment of the tax imposed under chapter 18 for a reasonable period not to exceed 5 years from the date fixed for the payment thereof. (B) Taxpayers described A taxpayer is described in this subparagraph if such the Secretary determines— (i) the taxpayer has severe liquidity constraints, or (ii) immediate payment would cause undue hardship on an ongoing enterprise. . (2) Rules Not later than 12 months after the date of the enactment of this Act,