April 14, 1985

President Reagan, urging legislators to ''seize this historic moment'' and overhaul the nation's tax system, said today that he would introduce a plan on tax revision to Congress next month. ''It's time for change, sweeping change,'' said Mr. Reagan. ''And when we return from the economic summit in May, we intend to move.'' Mr. Reagan said Treasury Secretary James A. Baker 3d expected ''to advance a proposal that can win bipartisan approval this year.'' In response, Democrats said that the President's tax revision of 1981 was responsible for increasing tax advantages for the well-to-do.

Last weekend and this, New York audiences have been lining up at the Museum of Modern Art to see Edgar Reitz's massive, beautifully realized new German film, ''Heimat,'' which, in a running time of almost 16 hours, chronicles in minute detail the life and times of one small Rhineland village from 1919 to 1982. The film, financed mostly by television interests, has been shown both on television and in theaters in Germany. It's virtually certain to receive some sort of theatrical release in this country before going to television, thus following the pattern set by the 1983 American release of Rainer Werner Fassbinder's masterly, 15 1/2-hour adaptation of Alfred Doblin's ''Berlin Alexanderplatz.'' Ten days ago, a lot of television viewers sat through ''A.D.,'' the sometimes riotously solemn, five- part, 10-hour, post-Crucifixion biblical epic, conceived and written by Vincenzo Labella and Anthony Burgess as a sequel to their 1977 collaboration, ''Jesus of Nazareth,'' directed by Franco Zeffirelli.

In 1979, the Port Authority of New York and New Jersey bought from Conrail a 90-acre tract in Elizabeth, N.J., near Newark International Airport with plans to establish an industrial park that would help the area's economy. Now, after a five-year delay - caused, in part, by a toxic-waste clean-up of part of the site - the agency will grant the first development land lease for the Elizabeth Industrial Center.

BUSINESS expansions used to mean good times for corporate chief executives. But this recovery has brought with it a heavy dose of corporate stress. The creaking financial system, surging imports and shrinking profit margins have wrought misery on whole industries. And for specific companies in those industries, the hostile and unpredictable takeover wars of the last two years have raised corporate insecurity to new heights. Few companies, it seems, are immune to the combat. Flaring first in the oil patch, the hostilities have spread to the communications, drug, forest products and rubber industries. Chiefs of the target companies have had to divert their attention from running their corporate ships, instead devoting their time to plotting strategies to keep the company ''out of play,'' or fighting the battle if those strategies did not work. The diversions have been so widespread that Andrew C. Sigler, chairman of Champion International and head of a Business Roundtable task force on hostile takeovers, warned recently that ''these pressures can undermine the long-term strength of our economic system.''

Top officials from the Soviet Union and the United States today accused the other side of impeding the arms-control talks in Geneva. Kenneth L. Adelman, head of the United States Arms Control and Disarmanment Agency, contended that the Soviet Union's recent public statements on arms control threatened progress by breaching the confidentiality of the negotiations. The Soviet Ambassador to the United States, Anatoly F. Dobrynin, who appeared with Mr. Adelman at a weeklong conference at Emory University's Carter Center on international arms control issues, contended that refusal by the United States to disclose details of its space-based missile defense program was slowing the talks. Early Deadlock Predicted Although neither Mr. Adelman nor Mr. Dobrynin would comment directly on the progress of the talks, experts gathered here said the talks appeared headed for an early deadlock.