Pub. L. 111-240 Sep. 27, 2010

124 Stat. 2555 · Changed 22 sections of the Code

Bill H.R. 5297 · House report H. Rept. 111-499 · Bluebook JCT general explanation (2011)

§ 38 General business credit

  • (c)(2)(A)(ii)(II) Pub. L. 111–240, § 2013(c)(1), inserted “the eligible small business credits,” after “the New York Liberty Zone…
  • (c)(3) Pub. L. 111–240, § 2013(c)(2), inserted “, the eligible small business credits,” after “the New York Liberty Zone…
  • (c)(4)(A)(ii)(II) Pub. L. 111–240, § 2013(c)(3), inserted “the eligible small business credits and” before “the specified credits”.
  • (c)(5) (c)(6) Pub. L. 111–240, § 2013(a), added par. (5) and redesignated former par. (5) as (6).

§ 39 Carryback and carryforward of unused credits

  • (a)(3)(A) Pub. L. 111–240, § 2012(b), inserted “or the eligible small business credits” after “credit)”.
  • (a)(4) Pub. L. 111–240, § 2012(a), added par. (4).

§ 40 Alcohol, etc., used as fuel

  • (b)(6)(E)(iii) Pub. L. 111–240, § 2121(a)(4), substituted “certain” for “unprocessed” in heading.
  • (b)(6)(E)(iii)(III) Pub. L. 111–240, § 2121(a)(1)–(3), added subcl. (III).

§ 55 Alternative minimum tax imposed

  • § 55 Pub. L. 111–240 substituted “38(c)(6)(B)” for “38(c)(3)(B)”.

§ 72 Annuities; certain proceeds of endowment and life insurance contracts

  • (a) Pub. L. 111–240 amended subsec. (a) generally. Prior to amendment, text read as follows: “Except as otherwise provided…

§ 162 Trade or business expenses

  • (l)(4) Pub. L. 111–240 inserted “for taxable years beginning before January 1, 2010, or after December 31, 2010” before period…

§ 168 Accelerated cost recovery system

  • (k) Pub. L. 111–240, § 2022(b)(1), substituted “January 1, 2011” for “January 1, 2010” in heading.
  • (k)(2)(A) Pub. L. 111–240, § 2022(a)(2), substituted “January 1, 2011” for “January 1, 2010” in subcls. (I) and (II).
  • (k)(2)(A) Pub. L. 111–240, § 2022(a), substituted “January 1, 2011” for “January 1, 2010” and “January 1, 2012” for “January 1…
  • (k)(2)(B)(ii) Pub. L. 111–240, § 2022(a)(2), (b)(2), substituted “pre-January 1, 2011” for “pre-January 1, 2010” in heading and…
  • (k)(2)(E)(i) Pub. L. 111–240, § 2022(a)(2), substituted “January 1, 2011” for “January 1, 2010”.
  • (k)(4) Pub. L. 111–240, § 2022(b)(3), added cls. (iv) and (v).
  • (l)(5) Pub. L. 111–240, § 2022(b)(4), substituted “January 1, 2011” for “January 1, 2010”.
  • (n)(2)(C) Pub. L. 111–240, § 2022(b)(5), substituted “January 1, 2011” for “January 1, 2010”.

§ 179 Election to expense certain depreciable business assets

  • (b)(1) Pub. L. 111–240, § 2021(a)(1), substituted “shall not exceed—” for “shall not exceed $25,000 ($250,000 in the case of…
  • (b)(2) Pub. L. 111–240, § 2021(a)(2), substituted “exceeds—” for “exceeds $200,000 ($800,000 in the case of taxable years…
  • (c)(2) Pub. L. 111–240, § 2021(c), substituted “2012” for “2011”.
  • (d)(1)(A)(ii) Pub. L. 111–240, § 2021(d), substituted “2012” for “2011”.
  • § 179 Pub. L. 111–240, § 2021(b), added subsec. (f).

§ 195 Start-up expenditures

  • (b)(3) Pub. L. 111–240 added par. (3).

§ 280F Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes

  • (d)(4)(A) Pub. L. 111–240 inserted “ ‘and’ ” at end of clause (iv), redesignated clause (vi) as (v), and struck out former cl.…

§ 402A Optional treatment of elective deferrals as Roth contributions

  • (c)(4) Pub. L. 111–240, § 2112(a), added par. (4).
  • (e)(1) Pub. L. 111–240, § 2111(a), added subpar. (C).
  • (e)(2) Pub. L. 111–240, § 2111(b), amended par. (2) generally. Prior to amendment, text read as follows: “The term ‘elective…

§ 460 Special rules for long-term contracts

  • (c)(6) Pub. L. 111–240 added par. (6).

§ 861 Income from sources within the United States

  • (a)(9) Pub. L. 111–240 added par. (9).

§ 862 Income from sources without the United States

  • (a)(9) Pub. L. 111–240 added par. (9).

§ 864 Definitions and special rules

  • (c)(4)(B)(ii) Pub. L. 111–240 substituted “dividends, interest, or amounts received for the provision of guarantees of indebtedness”…

§ 1202 Partial exclusion for gain from certain small business stock

  • (a)(3) Pub. L. 111–240, § 2011(b), inserted “certain periods in” before “2010” in heading and substituted “on or before the…
  • (a)(4) Pub. L. 111–240, § 2011(a), added par. (4).

§ 1374 Tax imposed on certain built-in gains

  • (d)(7)(B) Pub. L. 111–240 amended subpar. (B) generally. Prior to amendment, text read as follows: “In the case of any taxable…

§ 6041 Information at source

  • (h) Pub. L. 111–240 added subsec. (h). Former subsec. (h) redesignated (i).
  • § 6041 Pub. L. 111–240 redesignated subsec. (h) as (i). Former subsec. (i) redesignated (j).
  • § 6041 Pub. L. 111–240 redesignated subsec. (i) as (j).

§ 6330 Notice and opportunity for hearing before levy

  • (f) Pub. L. 111–240, § 2104(c), substituted “Exceptions” for “Jeopardy and State refund collection” in heading.
  • (f)(4) Pub. L. 111–240, § 2104(a), added par. (4).
  • (h) Pub. L. 111–240, § 2104(b), substituted “Definitions related to exceptions” for “Disqualified employment tax levy” in…

§ 6707A Penalty for failure to include reportable transaction information with return

  • (b) Pub. L. 111–240 amended subsec. (b) generally. Prior to amendment, subsec. (b) specified the amount of the penalty…

§ 6721 Failure to file correct information returns

  • (a)(1) Pub. L. 111–240, § 2102(a), substituted “$100” for “$50” and “$1,500,000” for “$250,000”.
  • (b)(1)(A) Pub. L. 111–240, § 2102(a)(1), (b)(1), substituted “$30” for “$15” and “$100” for “$50”.
  • (b)(1)(B) Pub. L. 111–240, § 2102(b)(2), substituted “$250,000” for “$75,000”.
  • (b)(2)(A) Pub. L. 111–240, § 2102(a)(1), (c)(1), substituted “$60” for “$30” and “$100” for “$50”.
  • (b)(2)(B) Pub. L. 111–240, § 2102(c)(2), substituted “$500,000” for “$150,000”.
  • (d)(1) Pub. L. 111–240, § 2102(d)(2), substituted “such calendar year” for “such taxable year” in introductory provisions.
  • (d)(1)(A) Pub. L. 111–240, § 2102(a)(2), (d)(1)(A), substituted “$500,000” for “$100,000” and “$1,500,000” for “$250,000”.
  • (d)(1)(B) Pub. L. 111–240, § 2102(b)(2), (d)(1)(B), substituted “$75,000” for “$25,000” and “$250,000” for “$75,000”.
  • (d)(1)(C) Pub. L. 111–240, § 2102(c)(2), (d)(1)(C), substituted “$200,000” for “$50,000” and “$500,000” for “$150,000”.
  • (e)(2) Pub. L. 111–240, § 2102(e), substituted “$250” for “$100” in introductory provisions.
  • (e)(3)(A) Pub. L. 111–240, § 2102(a)(2), substituted “$1,500,000” for “$250,000”.
  • (f) Pub. L. 111–240, § 2102(f), added subsec. (f).

§ 6722 Failure to furnish correct payee statements

  • § 6722 Pub. L. 111–240 amended section generally. Prior to amendment, section related to: in subsec. (a), general rule for…