Pub. L. 111-147 Mar. 18, 2010

124 Stat. 74 · Changed 33 sections of the Code

Bill H.R. 2847 · House report H. Rept. 111-149 · Senate report S. Rept. 111-34 · Bluebook JCT general explanation (2011)

§ 51 Amount of credit

  • (c)(5) Pub. L. 111–147 added par. (5).

§ 149 Bonds must be registered to be tax exempt; other requirements

  • (a)(2) Pub. L. 111–147 inserted “or” at end of subpar. (A), substituted period for “, or” in subpar. (B), and struck out…

§ 163 Interest

  • (f)(2)(A)(ii) (f)(2)(A)(iii) (f)(2)(A) Pub. L. 111–147, § 502(a)(2)(B), inserted “or” at end of cl. (ii), substituted period for “, or” in cl. (iii), and…
  • (f)(2)(B) Pub. L. 111–147, § 502(a)(1), (2)(C)(i), redesignated subpar. (C) as (B), struck out “, and subparagraph (B),” after…
  • (f)(2)(B)(i) Pub. L. 111–147, § 502(a)(2)(C)(ii), amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: “in the…
  • (f)(2) Pub. L. 111–147, § 502(a)(1), redesignated subpar. (C) as (B).
  • (f)(3) Pub. L. 111–147, § 502(c), inserted before period at end “, except that a dematerialized book entry system or other…

§ 165 Losses

  • (j)(2)(A) Pub. L. 111–147 struck out “except that clause (iv) of subparagraph (A), and subparagraph (B), of such section shall…

§ 179 Election to expense certain depreciable business assets

  • (b)(1) Pub. L. 111–147, § 201(a)(1), substituted “($250,000 in the case of taxable years beginning after 2007 and before…
  • (b)(2) Pub. L. 111–147, § 201(a)(2), substituted “($800,000 in the case of taxable years beginning after 2007 and before…
  • (b)(5) Pub. L. 111–147, § 201(a)(3), (4), redesignated par. (6) as (5) and struck out former par. (5) which related to…
  • (b)(6) Pub. L. 111–147, § 201(a)(4), redesignated par. (6) as (5).
  • (b) Pub. L. 111–147, § 201(a)(3), struck out par. (7) which related to increase in limitations for 2008 and 2009.

§ 643 Definitions applicable to subparts A, B, C, and D

  • (i)(1) Pub. L. 111–147, § 533(a), substituted “(or permits the use of any other trust property) directly or indirectly to or…
  • (i)(2)(E) Pub. L. 111–147, § 533(b), added subpar. (E).
  • (i)(3) Pub. L. 111–147, § 533(d), struck out “regarding loan principal” after “transactions” in heading and inserted “(or use…

§ 679 Foreign trusts having one or more United States beneficiaries

  • (c)(1) Pub. L. 111–147, § 531(a), inserted concluding provisions.
  • (c)(4) (c)(5) Pub. L. 111–147, § 531(b), (c), added pars. (4) and (5).
  • (c)(6) Pub. L. 111–147, § 533(c), added par. (6).
  • (d) (e) Pub. L. 111–147, § 532(a), added subsec. (d) and redesignated former subsec. (d) as (e).

§ 864 Definitions and special rules

  • (f) Pub. L. 111–147 substituted “December 31, 2020” for “December 31, 2017”.

§ 871 Tax on nonresident alien individuals

  • (h)(2) Pub. L. 111–147, § 502(b)(1), amended par. (2) generally. Prior to amendment, par. (2) defined portfolio interest to…
  • (h)(3)(A) Pub. L. 111–147, § 502(b)(2)(A), struck out “subparagraph (A) or (B) of” before “paragraph (2)”.
  • (l) Pub. L. 111–147, § 541(a), added subsec. (l). Former subsec. (l) redesignated (m).
  • (m) Pub. L. 111–147, § 541(a), redesignated subsec. (l) as (m).

§ 881 Tax on income of foreign corporations not connected with United States business

  • (c)(2) Pub. L. 111–147 amended par. (2) generally. Prior to amendment, par. (2) defined portfolio interest to also include…

§ 1287 Denial of capital gain treatment for gains on certain obligations not in registered form

  • (b)(1) Pub. L. 111–147 struck out “except that clause (iv) of subparagraph (A), and subparagraph (B), of such section shall…

§ 1291 Interest on tax deferral

  • (e) Pub. L. 111–147 substituted “and (d)” for “, (d), and (f)”.

§ 1298 Special rules

  • (f) (g) Pub. L. 111–147 added subsec. (f) and redesignated former subsec. (f) as (g).

§ 1471 Withholdable payments to foreign financial institutions

§ 1472 Withholdable payments to other foreign entities

§ 1473 Definitions

§ 1474 Special rules

§ 3111 Rate of tax

  • (d) Pub. L. 111–147 added subsec. (d).

§ 3221 Rate of tax

  • (c) § 3221 Pub. L. 111–147 added subsec. (c) and redesignated former subsec. (c) as (d).

§ 4701 Tax on issuer of registration-required obligation not in registered form

  • (b)(1) Pub. L. 111–147 amended par. (1) generally. Prior to amendment, text read as follows: “The term ‘registration-required…

§ 6011 General requirement of return, statement, or list

  • (e)(4) Pub. L. 111–147 added par. (4).

§ 6038D Information with respect to foreign financial assets

§ 6048 Information with respect to certain foreign trusts

  • (b)(1) Pub. L. 111–147 inserted “shall submit such information as the Secretary may prescribe with respect to such trust for…

§ 6414 Income tax withheld

  • § 6414 Pub. L. 111–147 inserted “or 4” after “chapter 3”.

§ 6501 Limitations on assessment and collection

  • (b)(1) Pub. L. 111–147, § 501(c)(2), inserted “4,” after “chapter 3,”.
  • (b)(2) Pub. L. 111–147, § 501(c)(3), substituted “and withholding taxes” for “taxes and tax imposed by chapter 3” in heading…
  • (c)(8) Pub. L. 111–147, § 513(b), (c), substituted “pursuant to an election under section 1295(b) or under section 1298(f)…
  • (e)(1)(A) Pub. L. 111–147, § 513(a)(1), added subpar. (A). Former subpar. (A) redesignated (B).
  • (e)(1)(B) Pub. L. 111–147, § 513(a)(2)(A), substituted “Determination of gross income” for “General rule” in heading and “For…
  • (e)(1)(B) Pub. L. 111–147, § 513(a)(1), redesignated subpar. (A) as (B). Former subpar. (B) redesignated (C).
  • (e)(1)(C) Pub. L. 111–147, § 513(a)(1), redesignated subpar. (B) as (C).

§ 6513 Time return deemed filed and tax considered paid

  • (b)(3) Pub. L. 111–147, § 501(c)(4), inserted “or 4” after “chapter 3” and “or 1474(b)” after “section 1462”.
  • (c) Pub. L. 111–147, § 501(c)(5), inserted “4,” after “chapter 3,” in introductory provisions.

§ 6611 Interest on overpayments

  • (e)(4) Pub. L. 111–147 added par. (4).

§ 6662 Imposition of accuracy-related penalty on underpayments

  • (b)(7) Pub. L. 111–147, § 512(a)(1), as amended by Pub. L. 113–295, § 208(a), added par. (7).
  • (j) Pub. L. 111–147, § 512(a)(2), added subsec. (j).

§ 6677 Failure to file information with respect to certain foreign trusts

  • (a) Pub. L. 111–147, in concluding provisions, inserted “the greater of $10,000 or” before “35 percent” and substituted “At…

§ 6724 Waiver; definitions and special rules

  • (c) Pub. L. 111–147, § 522(b), inserted before period at end “or with respect to a return described in section 6011(e)(4)”.
  • (d)(1) Pub. L. 111–147, § 501(c)(6), inserted “under chapter 4 or” after “filed with the Secretary” in concluding provisions.
  • (d)(2) Pub. L. 111–147, § 501(c)(7), inserted “or 4” after “chapter 3” in concluding provisions.

§ 9502 Airport and Airway Trust Fund

  • (a) Pub. L. 111–147 substituted “section 9503(c)(5)” for “section 9503(c)(7)”.

§ 9503 Highway Trust Fund

  • (b)(4)(D) Pub. L. 111–147, § 444(b)(2), substituted “paragraph (3)(D) or (4)(B)” for “paragraph (4)(D) or (5)(B)” in introductory…
  • (b)(6)(B) Pub. L. 111–147, § 445(a)(3), substituted “December 31, 2010 (January 1, 2011” for “September 30, 2009 (October 1…
  • (c)(1) Pub. L. 111–147, § 445(a)(1), substituted “December 31, 2010 (January 1, 2011” for “September 30, 2009 (October 1…
  • (c)(2) Pub. L. 111–147, § 444(b)(3), inserted at end “The amounts payable from the Highway Trust Fund under the preceding…
  • (c)(2) Pub. L. 111–147, § 444(a), redesignated par. (3) as (2) and struck out former par. (2) which related to transfers from…
  • (c)(3) (c)(4) (c)(5) (c) Pub. L. 111–147, § 444(a), redesignated pars. (4) to (6) as (3) to (5), respectively. Former par. (3) redesignated (2).
  • (e)(1) Pub. L. 111–147, § 442(b), substituted “this section” for “this subsection”.
  • (e)(3) Pub. L. 111–147, § 445(a)(2), substituted “January 1, 2011” for “October 1, 2009” and “in accordance with the Surface…
  • (e)(5)(A) Pub. L. 111–147, § 444(b)(4), substituted “(2) and (3)” for “(2), (3), and (4)”.
  • (f)(1) Pub. L. 111–147, § 441(b), struck out subpar. (A) designation before “the opening balance” and substituted “September…
  • (f)(1) Pub. L. 111–147, § 441(a), struck out subpar. (B) which read as follows: “notwithstanding section 9602(b), obligations…
  • (f)(2) Pub. L. 111–147, § 442(a), amended par. (2) generally. Prior to amendment, text read as follows: “Out of money in the…
  • (f)(4) Pub. L. 111–147, § 443(a), added par. (4).

§ 9504 Sport Fish Restoration and Boating Trust Fund

  • (a) Pub. L. 111–147, § 444(b)(5), substituted “section 9503(c)(3), section 9503(c)(4)” for “section 9503(c)(4), section…
  • (b)(2) Pub. L. 111–147, § 444(b)(6), substituted “section 9503(c)(4)” for “section 9503(c)(5)” in concluding provisions.
  • (b)(2)(A) (b)(2)(B) (b)(2)(C) Pub. L. 111–147, § 445(b)(1), substituted “(as in effect on the date of the enactment of the Surface Transportation…
  • (d)(2) Pub. L. 111–147, § 445(b)(2), substituted “January 1, 2011” for “October 1, 2009”.
  • (e) Pub. L. 111–147, § 444(b)(7), which directed amendment of subsec. (e) “by striking ‘section 9503(c)(4)’ and inserting…