Pub. L. 119-21 Jul. 4, 2025

139 Stat. 158 · Changed 149 sections of the Code

Bill H.R. 1 · House report H. Rept. 119-106

§ 1 Tax imposed

  • (j) Pub. L. 119–21, § 70101(a)(2), substituted “beginning after 2017” for “2018 through 2025” in heading.
  • (j)(1) Pub. L. 119–21, § 70101(a)(1), struck out “, and before January 1, 2026” after “December 31, 2017” in introductory…
  • (j)(3)(B)(i) Pub. L. 119–21, § 70101(b), inserted “solely for purposes of determining the dollar amounts at which any rate bracket…

§ 21 Expenses for household and dependent care services necessary for gainful employment

  • (a)(2) Pub. L. 119–21 amended par. (2) generally. Prior to amendment, text read as follows: “For purposes of paragraph (1)…

§ 23 Adoption expenses

  • (a)(4) Pub. L. 119–21, § 70402(a), added par. (4).
  • (c)(1) Pub. L. 119–21, § 70402(c), which directed substitution of “portion of the credit allowable under subsection (a) which…
  • (d)(3)(A) Pub. L. 119–21, § 70403(a)(1), inserted “or Indian tribal government” after “a State”.
  • (d)(3)(B) Pub. L. 119–21, § 70403(a)(2), inserted “or Indian tribal government” after “such State”.
  • (h) Pub. L. 119–21, § 70402(b), amended subsec. (h) generally. Prior to amendment, text read as follows: “In the case of a…

§ 24 Child tax credit

  • (h) Pub. L. 119–21, § 70104(a)(3), substituted “beginning after 2017” for “2018 through 2025” in heading.
  • (h)(1) Pub. L. 119–21, § 70104(a)(1), struck out “, and before January 1, 2026” after “December 31, 2017”.
  • (h)(2) Pub. L. 119–21, § 70104(a)(2), substituted “$2,200” for “$2,000”.
  • (h)(5) Pub. L. 119–21, § 70104(d), amended par. (5) generally. Prior to amendment, par. (5) related to maximum amount of…
  • (h)(7) Pub. L. 119–21, § 70104(b), amended par. (7) generally. Prior to amendment, par. (7) allowed a credit under this…
  • (i) Pub. L. 119–21, § 70104(c), amended subsec. (i) generally. Prior to amendment, subsec. (i) related to special rules for…

§ 25 Interest on certain home mortgages

  • (e)(1)(C) Pub. L. 119–21 substituted “25D, and 25F” for “and 25D”.

§ 25A American Opportunity and Lifetime Learning credits

  • (g)(1) Pub. L. 119–21 amended par. (1) generally. Prior to amendment, par. (1) required inclusion of the name and taxpayer…

§ 25B Elective deferrals and IRA contributions by certain individuals

  • (a) Pub. L. 119–21, § 70116(b)(1), substituted “$2,100” for “$2,000”.
  • (d)(1) Pub. L. 119–21, § 70116(a)(2), repealed Pub. L. 117–328, § 103(e)(1), and provided that this title shall be applied and…
  • (d)(1) Pub. L. 119–21, § 70116(a)(1), amended par. (1) generally. Prior to amendment, par. (1) defined qualified retirement…

§ 25C Energy efficient home improvement credit

  • (d)(2)(C) Pub. L. 119–21, § 70505(b), amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: “Any oil…
  • (i) Pub. L. 119–21, § 70505(a), which directed amendment of subsec. (h) by substituting “placed in service after December…

§ 25D Residential clean energy credit

  • (g)(3) Pub. L. 119–21, § 70506(b)(2), substituted “30 percent.” for “and before January 1, 2033, 30 percent,”.
  • (g) Pub. L. 119–21, § 70506(b)(1), (3), struck out pars. (4) and (5) which read as follows:
  • (h) Pub. L. 119–21, § 70506(a), substituted “with respect to any expenditures made after December 31, 2025” for “to…

§ 25E Previously-owned clean vehicles

  • (g) Pub. L. 119–21 substituted “September 30, 2025” for “December 31, 2032”.

§ 25F Qualified elementary and secondary education scholarships

§ 30C Alternative fuel vehicle refueling property credit

  • (i) Pub. L. 119–21 substituted “June 30, 2026” for “December 31, 2032”.

§ 30D Clean vehicle credit

  • (e)(1)(B) Pub. L. 119–21, § 70502(b)(1), struck out cl. (v) which read as follows: “in the case of a vehicle placed in service…
  • (e)(2)(B) Pub. L. 119–21, § 70502(b)(2), struck out cls. (iv) to (vi) which read as follows:
  • (h) Pub. L. 119–21, § 70502(a), substituted “acquired after September 30, 2025” for “placed in service after December 31…

§ 35 Health insurance costs of eligible individuals

  • (g)(12)(B)(ii) Pub. L. 119–21 substituted “then the amount determined under clause (i) shall be substituted for the amount determined…

§ 36B Refundable credit for coverage under a qualified health plan

  • (c)(1)(B) Pub. L. 119–21, § 71302(a), struck out subpar. (B) which related to a special rule for certain individuals lawfully…
  • (c)(3)(A) Pub. L. 119–21, § 71303(b), designated existing provisions as cl. (i), inserted heading, and added cl. (ii).
  • (c)(3)(A)(iii) Pub. L. 119–21, § 71304(a), added cl. (iii).
  • (c) Pub. L. 119–21, § 71303(a), added pars. (5) and (6).
  • (e)(1) Pub. L. 119–21, § 71301(a), inserted “or, in the case of aliens who are lawfully present, are not eligible aliens”…
  • (e)(2) Pub. L. 119–21, § 71301(b), substituted “For purposes of this section—” for “For purposes of this section,”, designated…
  • (f)(2) Pub. L. 119–21, § 71305(a), (b)(1), struck out subpar. (A) designation and heading and subpar. (B) which related to…

§ 40A Biodiesel and renewable diesel used as fuel

  • (b)(4)(A) Pub. L. 119–21, § 70521(j)(1)(A)(i), substituted “20 cents” for “10 cents”.
  • (b)(4)(B) Pub. L. 119–21, § 70521(j)(1)(A)(ii), inserted “in a manner which complies with the requirements under section…
  • (b)(4)(D) Pub. L. 119–21, § 70521(j)(1)(A)(iii), added subpar. (D).
  • (g) Pub. L. 119–21, § 70521(j)(1)(B), inserted “(or, in the case of the small agri-biodiesel producer credit, any sale or…

§ 41 Credit for increasing research activities

  • (d)(1)(A) Pub. L. 119–21 amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “with respect to which…

§ 42 Low-income housing credit

  • (h)(3)(I) Pub. L. 119–21, § 70422(a)(1), substituted “calendar years after 2025” for “2018, 2019, 2020, and 2021” in heading and…
  • (h)(4)(B) Pub. L. 119–21, § 70422(b)(1), added subpar. (B) and struck out former subpar. (B). Prior to amendment, text read as…

§ 45 Electricity produced from certain renewable resources, etc.

  • (b)(11)(B)(iv) Pub. L. 119–21, § 70512(f)(1)(A), added cl. (iv).
  • (b)(11)(C) Pub. L. 119–21, § 70512(f)(1)(B), added subpar. (C).

§ 45B Credit for portion of employer social security taxes paid with respect to employee cash tips

  • (b)(1)(B) Pub. L. 119–21, § 70201(e)(2), struck out “as in effect on January 1, 2007, and” before “determined without regard to”…
  • (b)(2) Pub. L. 119–21, § 70201(e)(1), amended par. (2) generally. Prior to amendment, text read as follows: “In applying…

§ 45D New markets tax credit

  • (f)(1)(H) Pub. L. 119–21, § 70423(a), substituted “for each calendar year after 2019” for “for for each of calendar years 2020…
  • (f)(3) Pub. L. 119–21, § 70423(b), designated first sentence as subpar. (A) and inserted heading, added subpar. (B), and…

§ 45F Employer-provided child care credit

  • (a)(1) Pub. L. 119–21, § 70401(a), substituted “40 percent (50 percent in the case of an eligible small business)” for “25…
  • (b) Pub. L. 119–21, § 70401(b), amended subsec. (b) generally. Prior to amendment, text read as follows: “The credit…
  • (c)(1)(A)(iii) Pub. L. 119–21, § 70401(d), inserted “, or under a contract with an intermediate entity that contracts with one or more…
  • (c)(2)(C) Pub. L. 119–21, § 70401(e), added subpar. (C).
  • (c)(4) Pub. L. 119–21, § 70401(c), added par. (4).
  • (g) Pub. L. 119–21, § 70401(f), added subsec. (g).

§ 45L New energy efficient home credit

  • (h) Pub. L. 119–21 substituted “June 30, 2026” for “December 31, 2032”.

§ 45Q Credit for carbon oxide sequestration

  • (a)(3)(B) Pub. L. 119–21, § 70522(b)(1)(B), added subpar. (B) and struck out former subpar. (B) which read as follows: “disposed…
  • (a) Pub. L. 119–21, § 70522(b)(1)(A), (C), struck out par. (4) which read as follows: “the applicable dollar amount (as…
  • (b)(1)(A) Pub. L. 119–21, § 70522(b)(2)(A)(i), added subpar. (A) and struck out former subpar. (A). Prior to amendment, text read…
  • (b)(1)(B) Pub. L. 119–21, § 70522(b)(2)(A)(ii), substituted “shall be applied by substituting ‘$36’ for ‘$17’ each place it…
  • (b)(2)(B) Pub. L. 119–21, § 70522(b)(2)(B), substituted “paragraph (3)(A)” for “paragraphs (3)(A) and (4)(A)” in introductory…
  • (b)(3) Pub. L. 119–21, § 70522(b)(2)(C), substituted “the dollar amount applicable under paragraph (3)” for “the dollar…
  • (f)(5)(B)(i) Pub. L. 119–21, § 70522(b)(3)(A), substituted “(3)(B)(iii)” for “(4)(B)(ii)” in introductory provisions.
  • (f)(9) Pub. L. 119–21, § 70522(b)(3)(B), substituted “subsection (a)(3)” for “paragraphs (3) and (4) of subsection (a)” in…
  • (f)(10) Pub. L. 119–21, § 70522(a), added par. (10).
  • (h)(3)(A)(ii) Pub. L. 119–21, § 70522(b)(4), substituted “subsection (a)(3)(A)” for “paragraph (3)(A) or (4)(A) of subsection (a)”.

§ 45S Employer credit for paid family and medical leave

  • (a)(1) Pub. L. 119–21, § 70304(a)(1)(A), added par. (1) and struck out former par. (1). Prior to amendment, text read as…
  • (a)(3) Pub. L. 119–21, § 70304(a)(1)(B), added par. (3).
  • (b)(1) Pub. L. 119–21, § 70304(a)(2), substituted “wages taken into account” for “credit allowed”.
  • (c)(3) (c)(4) Pub. L. 119–21, § 70304(a)(3), added pars. (3) and (4) and struck out former pars. (3) and (4) which read as follows:
  • (d)(1) Pub. L. 119–21, § 70304(a)(4)(A), inserted “(or, at the election of the employer, for not less than 6 months)” after “1…
  • (d)(2) Pub. L. 119–21, § 70304(a)(4)(B)(i), inserted “, as determined on an annualized basis (pro-rata for part-time…
  • (d)(3) Pub. L. 119–21, § 70304(a)(4)(B)(ii), (C), added par. (3).
  • § 45S Pub. L. 119–21, § 70304(a)(5), struck out subsec. (i). Text read as follows: “This section shall not apply to wages…

§ 45U Zero-emission nuclear power production credit

  • (c)(3) Pub. L. 119–21 added par. (3).

§ 45V Credit for production of clean hydrogen

  • (c)(3)(C) Pub. L. 119–21 substituted “January 1, 2028” for “January 1, 2033”.

§ 45W Credit for qualified commercial clean vehicles

  • (g) Pub. L. 119–21 substituted “September 30, 2025” for “December 31, 2032”.

§ 45X Advanced manufacturing production credit

  • (b)(1)(M) Pub. L. 119–21, § 70514(e)(2), inserted “(2.5 percent in the case of metallurgical coal)” after “10 percent”.
  • (b)(3) Pub. L. 119–21, § 70514(b)(1), inserted “and termination” after “Phase out” in heading.
  • (b)(3)(A) Pub. L. 119–21, § 70514(b)(2), substituted “subparagraphs (C) and (D)” for “subparagraph (C)” in introductory…
  • (b)(3)(C) (b)(3)(D) (b)(3)(E) Pub. L. 119–21, § 70514(b)(3), added subpars. (C) to (E) and struck out former subpar. (C). Prior to amendment, text of…
  • (c)(1)(C) Pub. L. 119–21, § 70514(c)(1), added subpar. (C).
  • (c)(5)(B)(iii)(III) Pub. L. 119–21, § 70514(d), added subcl. (III).
  • (c)(6)(R) (c)(6)(AA) Pub. L. 119–21, § 70514(e)(1), added subpar. (R) and redesignated former subpars. (R) to (Z) as (S) to (AA)…
  • (d)(4) Pub. L. 119–21, § 70514(c)(2), added par. (4) relating to restrictions relating to prohibited foreign entities.
  • (d)(4) Pub. L. 119–21, § 70514(a), amended par. (4) generally. Prior to amendment, text read as follows: “For purposes of this…

§ 45Y Clean electricity production credit

  • (b)(1)(D) Pub. L. 119–21, § 70512(g)(2), added subpar. (D). Former subpar. (D) redesignated (E) relating to coordination with…
  • (b)(1)(E) Pub. L. 119–21, § 70512(g)(1), redesignated subpar. (D) as (E) relating to coordination with other credits.
  • (b)(1)(E) Pub. L. 119–21, § 70512(b)(1), added subpar. (E) relating to material assistance from prohibited foreign entities.
  • (b)(2)(C)(iii) Pub. L. 119–21, § 70512(e), added cl. (iii).
  • (d)(1) Pub. L. 119–21, § 70512(a)(1), substituted “Subject to paragraph (4), the amount of” for “The amount of” in…
  • (d)(3) (d)(4) Pub. L. 119–21, § 70512(a)(2), added pars. (3) and (4) and struck out former par. (3). Prior to amendment, text of par.…
  • (g)(13) Pub. L. 119–21, § 70512(b)(2), added par. (13).
  • (h) Pub. L. 119–21, § 70512(d), added subsec. (h).

§ 45Z Clean fuel production credit

  • (a)(3) Pub. L. 119–21, § 70521(g)(2)(A), amended par. (3) generally. Prior to amendment, par. (3) consisted of subpars. (A)…
  • (b)(1)(B)(i) Pub. L. 119–21, § 70521(c)(2), substituted “clauses (ii), (iii), (iv), and (v)” for “clauses (ii) and (iii)”.
  • (b)(1)(B)(iv) (b)(1)(B)(v) Pub. L. 119–21, § 70521(c)(1), added cls. (iv) and (v).
  • (b)(1)(C) Pub. L. 119–21, § 70521(b)(1)(A), added subpar. (C) and struck out former subpar. (C). Prior to amendment, text read as…
  • (b)(1)(E) Pub. L. 119–21, § 70521(b)(1)(B), added subpar. (E).
  • (c)(1) Pub. L. 119–21, § 70521(g)(2)(B), substituted “and the $1.00 amount in subsection (a)(2)(B)” for “, the $1.00 amount in…
  • (d)(5)(A)(iv) Pub. L. 119–21, § 70521(e)(1), added cl. (iv).
  • (d)(5)(C) Pub. L. 119–21, § 70521(e)(2), added subpar. (C).
  • (f)(1)(A)(iii) Pub. L. 119–21, § 70521(a)(1), added cl. (iii).
  • (f)(3) Pub. L. 119–21, § 70521(f), inserted at end “The Secretary may prescribe additional related person rules similar to the…
  • (f)(8) Pub. L. 119–21, § 70521(k)(1), added par. (8).
  • (g) Pub. L. 119–21, § 70521(d), substituted “December 31, 2029” for “December 31, 2027”.

§ 48 Energy credit

  • (a)(2)(A)(ii) Pub. L. 119–21, § 70513(e)(1), substituted “0 percent” for “2 percent”.
  • (a)(2)(C) Pub. L. 119–21, § 70513(e)(2), added subpar. (C).

§ 48C Qualifying advanced energy project credit

  • (e)(3)(C) Pub. L. 119–21 substituted “shall not be increased” for “shall be increased”.

§ 48D Advanced manufacturing investment credit

  • (a) Pub. L. 119–21 substituted “35 percent” for “25 percent”.

§ 48E Clean electricity investment credit

  • (a)(3)(A)(i) Pub. L. 119–21, § 70512(f)(2), inserted “, as applied without regard to clause (iv) thereof” after “section…
  • (a)(3)(B) Pub. L. 119–21, § 70513(d), amended subpar. (B) generally. Prior to amendment, text read as follows: “Rules similar to…
  • (b)(6) (b)(7) Pub. L. 119–21, § 70513(b)(1)(A), added par. (6) and redesignated former par. (6) as (7).
  • (c)(3) Pub. L. 119–21, § 70513(b)(1)(B), added par. (3).
  • (d)(6) Pub. L. 119–21, § 70513(b)(2), added par. (6).
  • (e)(1) Pub. L. 119–21, § 70513(a)(1), substituted “Subject to paragraph (4), the amount of” for “The amount of” in…
  • (e)(4) Pub. L. 119–21, § 70513(a)(2), added par. (4).
  • (i) Pub. L. 119–21, § 70513(c)(1)(B), added subsec. (i). Former subsec. (i) redesignated (j), then (k).
  • (j) Pub. L. 119–21, § 70513(f)(2), added subsec. (j).
  • (j) Pub. L. 119–21, § 70513(c)(1)(A), redesignated subsec. (i) as (j), which was subsequently redesignated (k).
  • (k) Pub. L. 119–21, § 70513(f)(1), redesignated subsec. (j), as redesignated by section 70513(c)(1)(A), as (k).

§ 50 Other special rules

  • (a)(4) Pub. L. 119–21, § 70513(b)(3)(A)(ii), added par. (4). Former par. (4) redesignated (5).
  • (a)(5) Pub. L. 119–21, § 70513(b)(3)(A)(i), (iii), redesignated par. (4) as (5) and substituted “any applicable transaction to…
  • (a)(6) Pub. L. 119–21, § 70513(b)(3)(A)(i), redesignated par. (5) as (6). Former par. (6) redesignated (7).
  • (a)(7) Pub. L. 119–21, § 70513(b)(3)(A)(i), (iv), redesignated par. (6) as (7) and, in subpar. (C), substituted “(3), or (4)”…
  • (e) Pub. L. 119–21, § 70513(c)(2), added subsec. (e).

§ 55 Alternative minimum tax imposed

  • (d)(4) Pub. L. 119–21, § 70107(a)(2), struck out “and before 2026” after “beginning after 2017” in heading.
  • (d)(4)(A) Pub. L. 119–21, § 70107(a)(1), struck out “, and before January 1, 2026” after “December 31, 2017” in introductory…
  • (d)(4)(A)(ii)(IV) Pub. L. 119–21, § 70107(c), added subcl. (IV).
  • (d)(4)(B)(i) Pub. L. 119–21, § 70107(b)(1), substituted “2018 (2026, in the case of the $1,000,000 amount in subparagraph…
  • (d)(4)(B)(i)(II) Pub. L. 119–21, § 70107(b)(2), substituted “determined by substituting for ‘calendar year 2016’ in subparagraph (A)(ii)…

§ 56 Adjustments in computing alternative minimum taxable income

  • (a)(3) Pub. L. 119–21, § 70430(b), substituted “any residential construction contract (as defined in section 460(e)(4))” for…
  • (b)(2)(A) Pub. L. 119–21, § 70302(b)(3)(A)(i), substituted “, 174(a), or 174A(a)” for “or 174(a)” in introductory provisions.
  • (b)(2)(A)(ii) Pub. L. 119–21, § 70302(b)(3)(A)(ii), substituted “foreign research or experimental expenditures described in section…
  • (b)(2)(C) Pub. L. 119–21, § 70302(b)(3)(B), inserted “or 174A(a)” after “174(a)”.
  • (e)(1)(B) Pub. L. 119–21, § 70203(d)(1), substituted “section 163(h)(5)” for “section 163(h)(4)”.

§ 56A Adjusted financial statement income

  • (c)(13)(A) Pub. L. 119–21, § 70523(a)(1), added subpar. (A) and struck out former subpar. (A) which read as follows: “reduced by…
  • (c)(13)(B)(i) Pub. L. 119–21, § 70523(a)(2), added cl. (i) and struck out former cl (i) which read as follows: “to disregard any…

§ 57 Items of tax preference

  • (a)(7) Pub. L. 119–21 substituted “In the case of stock acquired on or before the date of the enactment of the Creating Small…

§ 59 Other definitions and special rules

  • (e)(2)(B) Pub. L. 119–21 substituted “section 174A(a) (relating to domestic research or experimental expenditures)” for “section…

§ 59A Tax on base erosion payments of taxpayers with substantial gross receipts

  • (b)(1) Pub. L. 119–21, § 70331(b)(1), substituted “Except as provided in paragraph (2)” for “Except as provided in paragraphs…
  • (b)(1)(A) Pub. L. 119–21, § 70331(a)(1), substituted “10.5 percent” for “10 percent”.
  • (b)(2) Pub. L. 119–21, § 70331(a)(2), redesignated par. (3) as (2) and struck out former par. (2) which related to…
  • (b)(2)(A) Pub. L. 119–21, § 70331(b)(2), substituted “the percentages otherwise in effect under paragraph (1)(A) shall be…
  • (b)(2)(B)(ii) Pub. L. 119–21, § 70331(c)(1), substituted “securities dealer registered” for “registered securities dealer”.
  • (b)(3) (b) Pub. L. 119–21, § 70331(a)(2), redesignated par. (4) as (3). Former par. (3) redesignated (2).
  • (e)(1)(C) Pub. L. 119–21, § 70331(b)(3), substituted “in the case of a taxpayer described in subsection (b)(2)(B)” for “in the…
  • (h)(2)(B) Pub. L. 119–21, § 70331(c)(2), substituted “section 6038A(b)(2)” for “section 6038B(b)(2)”.
  • (i)(2) Pub. L. 119–21, § 70331(c)(3), substituted “of subsection (h)” for “of subsection (g)” and “under subsection (h)(3)”…

§ 63 Taxable income defined

  • (b)(5) Pub. L. 119–21, § 70201(b), added par. (5).
  • (b)(6) Pub. L. 119–21, § 70202(b), added par. (6).
  • (b)(7) Pub. L. 119–21, § 70203(b), added par. (7).
  • (c)(7) Pub. L. 119–21, § 70102(a), substituted “beginning after 2017” for “2018 through 2025” in heading and struck out “, and…
  • (c)(7)(A)(i) Pub. L. 119–21, § 70102(b)(1), substituted “$23,625” for “$18,000”.
  • (c)(7)(A)(ii) Pub. L. 119–21, § 70102(b)(2), substituted “$15,750” for “$12,000”.
  • (c)(7)(B)(ii) Pub. L. 119–21, § 70102(b)(1)–(3), substituted “2025” for “2018”, “$23,625” for “$18,000”, and “$15,750” for “$12,000”…
  • (c)(7)(B)(ii)(II) Pub. L. 119–21, § 70102(b)(4), substituted “2024” for “2017”.

§ 67 2-percent floor on miscellaneous itemized deductions

  • (b)(13) Pub. L. 119–21, § 70110(b)(1), added par. (13).
  • (g) Pub. L. 119–21, § 70110(b)(2), added subsec. (g). Former subsec. (g) redesignated (h).
  • (g) Pub. L. 119–21, § 70110(a), substituted “beginning after 2017” for “2018 through 2025” in heading and struck out “, and…
  • (h) Pub. L. 119–21, § 70110(b)(2), redesignated subsec. (g) as (h).

§ 68 Overall limitation on itemized deductions

  • § 68 Pub. L. 119–21 amended section generally. Prior to amendment, section consisted of subsecs. (a) to (f) relating…

§ 78 Gross up for deemed paid foreign tax credit

  • § 78 Pub. L. 119–21 substituted “subsections (a) and (d)” for “subsections (a), (b), and (d)” and “90 percent” for “80…

§ 108 Income from discharge of indebtedness

  • (f)(5) Pub. L. 119–21 amended par. (5) generally. Prior to amendment, par. (5) related to special rule for discharges in 2021…

§ 127 Educational assistance programs

  • (c)(1)(B) Pub. L. 119–21, § 70412(a), struck out “in the case of payments made before January 1, 2026,” before “the payment by an…
  • (d) (e) Pub. L. 119–21, § 70412(b), added subsec. (d) and redesignated former subsec. (d) as (e).

§ 128 Employer contributions to Trump accounts

§ 129 Dependent care assistance programs

  • (a)(2)(A) Pub. L. 119–21 substituted “$7,500 ($3,750” for “$5,000 ($2,500”.

§ 132 Certain fringe benefits

  • (f)(1) Pub. L. 119–21, § 70112(a)(1), struck out subpar. (D) which read as follows: “Any qualified bicycle commuting…
  • (f)(2) Pub. L. 119–21, § 70112(a)(2), struck out subpar. (C) which read as follows: “the applicable annual limitation in the…
  • (f)(4) Pub. L. 119–21, § 70112(a)(3), struck out “(other than a qualified bicycle commuting reimbursement)” after…
  • (f)(5) Pub. L. 119–21, § 70112(a)(4), struck out subpar. (F) which defined qualified bicycle commuting reimbursement…
  • (f)(6)(A)(ii) Pub. L. 119–21, § 70112(b), substituted “1997” for “1998”.
  • (f) Pub. L. 119–21, § 70112(a)(5), struck out par. (8). Text read as follows: “Paragraph (1)(D) shall not apply to any…
  • (g)(2) Pub. L. 119–21, § 70113(d), inserted “, or an employee or new appointee of the intelligence community (as defined in…
  • (g)(2) Pub. L. 119–21, § 70113(c), substituted “beginning after 2017” for “2018 through 2025” in heading and struck out “, and…

§ 139J Certain contributions to Trump accounts

§ 139K Scholarships for qualified elementary or secondary education expenses of eligible students

§ 139L Interest on loans secured by rural or agricultural real property

§ 142 Exempt facility bond

  • (a)(1) Pub. L. 119–21, § 70309(a), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “airports,”.
  • (b)(1)(C) Pub. L. 119–21, § 70309(b), added subpar. (C).
  • (c) Pub. L. 119–21, § 70309(e), inserted “spaceports,” after “Airports,” in heading.
  • (p) Pub. L. 119–21, § 70309(c), added subsec. (p).

§ 144 Qualified small issue bond; qualified student loan bond; qualified redevelopment bond

  • (a)(4)(C)(iv) Pub. L. 119–21 substituted “174A(a)” for “174(a)”.

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

  • (b)(3)(F) Pub. L. 119–21 added subpar. (F).

§ 151 Allowance of deductions for personal exemptions

  • (d)(5) Pub. L. 119–21, § 70103(a)(1), (2), substituted “beginning after 2017” for “2018 through 2025” in heading and struck…
  • (d)(5)(C) Pub. L. 119–21, § 70103(a)(3), added subpar. (C).

§ 162 Trade or business expenses

  • (m)(7) Pub. L. 119–21 added par. (7).

§ 163 Interest

  • (h)(3)(F) Pub. L. 119–21, § 70108(a)(3), substituted “beginning after 2017” for “2018 through 2025” in heading.
  • (h)(3)(F)(i) Pub. L. 119–21, § 70108(a)(1)(A), struck out “, and before January 1, 2026” after “December 31, 2017” in introductory…
  • (h)(3)(F)(i)(III) (h)(3)(F)(i)(IV) (h)(3)(F)(i)(V) Pub. L. 119–21, § 70108(a)(1)(B)–(D), added subcl. (III), redesignated former subcls. (III) and (IV) as (IV) and (V)…
  • (h)(3)(F)(ii) (h)(3)(F)(iii) (h)(3)(F) Pub. L. 119–21, § 70108(a)(2), redesignated cls. (iii) and (iv) as (ii) and (iii), respectively, and struck out former…
  • (h)(4) (h)(5) Pub. L. 119–21, § 70203(a), added par. (4) and redesignated former par. (4) as (5).
  • (j)(5) Pub. L. 119–21, § 70341(b), inserted at end “Such term shall not include any interest which is capitalized under…
  • (j)(8)(A)(v) Pub. L. 119–21, § 70303(a), struck out “in the case of taxable years beginning before January 1, 2022,” before “any…
  • (j)(8)(A)(vi) Pub. L. 119–21, § 70342(a), added cl. (vi).
  • (j)(9)(C) Pub. L. 119–21, § 70303(b), inserted concluding provisions.
  • (j)(10) (j)(11) (j)(12) (j)(13) Pub. L. 119–21, § 70341(a), (c), added pars. (10) and (11) and successively redesignated former pars. (10) and (11) as…

§ 164 Taxes

  • (b)(6) Pub. L. 119–21, § 70120(a)(1), struck out “and before January 1, 2026” after “December 31, 2017,” in introductory…
  • (b)(6)(B) Pub. L. 119–21, § 70120(a)(2), substituted “the applicable limitation amount (half the applicable limitation amount in…
  • (b)(7) Pub. L. 119–21, § 70120(b), added par. (7).

§ 165 Losses

  • (d) Pub. L. 119–21, § 70114(a), added subsec. (d) and struck out former subsec. (d). Prior to amendment, text read as…
  • (h)(5) Pub. L. 119–21, § 70109(a)(2), substituted “beginning after 2017” for “2018 through 2025” in heading.
  • (h)(5)(A) Pub. L. 119–21, § 70109(b)(1), substituted “(i)(5)) or a State declared disaster” for “(i)(5))”.
  • (h)(5)(A) Pub. L. 119–21, § 70109(a)(1), struck out “, and before January 1, 2026” after “December 31, 2017”.
  • (h)(5)(B)(i) Pub. L. 119–21, § 70109(b)(2), substituted “(as so defined) or a State declared disaster” for “(as so defined)”.
  • (h)(5)(C) Pub. L. 119–21, § 70109(b)(3), added subpar. (C).

§ 168 Accelerated cost recovery system

  • (e)(3)(B)(vi) Pub. L. 119–21, § 70509(a), redesignated subcls. (II) and (III) as (I) and (II), respectively, and struck out former…
  • (k)(1)(A) Pub. L. 119–21, § 70301(b)(1)(A), substituted “100 percent” for “the applicable percentage”.
  • (k)(2)(A)(i)(IV) Pub. L. 119–21, § 70434(g)(1), substituted “without regard to subsections (a)(2) and (h)” for “without regard to…
  • (k)(2)(A)(i)(V) Pub. L. 119–21, § 70434(g)(1), substituted “without regard to subsections (a)(2) and (h)” for “without regard to…
  • (k)(2)(A)(i)(V) Pub. L. 119–21, § 70301(a)(1), inserted “and” at end.
  • (k)(2)(A)(i)(VI) Pub. L. 119–21, § 70434(g)(1)(A), added subcl. (VI).
  • (k)(2)(A)(ii) Pub. L. 119–21, § 70301(a)(1), (5)(A), substituted “clause (i) of subparagraph (E)” for “clause (ii) of subparagraph…
  • (k)(2)(A) Pub. L. 119–21, § 70301(a)(1), struck out cl. (iii) which read as follows: “which is placed in service by the taxpayer…
  • (k)(2)(B)(i)(II) (k)(2)(B)(i)(III) (k)(2)(B)(i)(IV) (k)(2)(B)(i) Pub. L. 119–21, § 70301(a)(2)(A), redesignated subcls. (IV) to (VI) as (II) to (IV), respectively, and struck out…
  • (k)(2)(B)(ii) (k)(2)(B)(iii) (k)(2)(B) Pub. L. 119–21, § 70301(a)(2)(B), redesignated cls. (iii) and (iv) as (ii) and (iii), respectively, and struck out…
  • (k)(2)(C)(i) Pub. L. 119–21, § 70301(a)(5)(B), struck out “and subclauses (II) and (III) of subparagraph (B)(i)” after “subparagraph…
  • (k)(2)(C)(ii) Pub. L. 119–21, § 70301(a)(5)(C), substituted “subparagraph (B)(ii)” for “subparagraph (B)(iii)”.
  • (k)(2)(E) Pub. L. 119–21, § 70301(a)(3), redesignated cls. (ii) and (iii) as (i) and (ii), respectively, and struck out former…
  • (k)(2)(H)(iii) Pub. L. 119–21, § 70434(g)(2), added cl. (iii).
  • (k)(5)(A) Pub. L. 119–21, § 70301(a)(4), substituted “planted or grafted” for “planted before January 1, 2027, or is grafted…
  • (k)(5)(A)(i) Pub. L. 119–21, § 70301(b)(2), substituted “100 percent” for “the applicable percentage”.
  • (k)(6) (k)(8) Pub. L. 119–21, § 70301(b)(1)(B), struck out pars. (6) and (8) which defined the term “applicable percentage” and…
  • (k)(10) Pub. L. 119–21, § 70301(b)(3), added subpars. (A) and (B), redesignated former subpar. (B) as (C), and struck out…
  • (n) Pub. L. 119–21, § 70307(a), added subsec. (n).

§ 170 Charitable, etc., contributions and gifts

  • (b)(1)(B) Pub. L. 119–21, § 70425(b)(2)(B)(i), substituted “to which subparagraph (A) or (G)” for “to which subparagraph (A)” in…
  • (b)(1)(B)(ii) Pub. L. 119–21, § 70425(b)(2)(B)(ii), substituted “over—” and subcls. (I) and (II) for “over the amount of charitable…
  • (b)(1)(G)(i) Pub. L. 119–21, § 70425(b)(1), amended cl. (i) generally. Prior to amendment, text read as follows: “In the case of any…
  • (b)(1)(G)(iii) Pub. L. 119–21, § 70425(b)(2)(A)(i), substituted “subparagraph (A)” for “subparagraphs (A) and (B)” in heading.
  • (b)(1)(G)(iii)(II) Pub. L. 119–21, § 70425(b)(2)(A)(ii), struck out “, and subparagraph (B) shall be applied by treating any reference to…
  • (b)(1)(I) Pub. L. 119–21, § 70425(a)(1), added subpar. (I).
  • (b)(2)(A) Pub. L. 119–21, § 70426(a), amended subpar. (A) generally. Prior to amendment, text read as follows: “The total…
  • (b)(2)(B)(ii) Pub. L. 119–21, § 70426(c), inserted “other than subparagraph (C) thereof” after “subsection (d)(2)”.
  • (d)(1)(C) Pub. L. 119–21, § 70425(a)(2), added subpar. (C).
  • (d)(2) Pub. L. 119–21, § 70426(b), amended par. (2) generally. Prior to amendment, par. (2) related to carryovers of excess…
  • (n)(1) Pub. L. 119–21, § 70429(a), substituted “$50,000” for “$10,000”.
  • (p) Pub. L. 119–21, § 70425(a)(3), inserted “, (b)(1)(I),” after “subsections (b)(1)(G)(ii)” in introductory provisions.
  • (p) Pub. L. 119–21, § 70424(a), in introductory provisions, struck out “beginning in 2021” after “In the case of any…

§ 172 Net operating loss deduction

  • (d)(9) Pub. L. 119–21 substituted “deduction eligible” for “intangible” in heading.

§ 174 Amortization of research and experimental expenditures

  • (a) Pub. L. 119–21, § 70302(b)(1)(A)(i), substituted “a taxpayer’s foreign research or experimental expenditures” for “a…
  • (a)(2)(B) Pub. L. 119–21, § 70302(b)(1)(A)(ii), substituted “over the 15-year period” for “over the 5-year period (15-year period…
  • (b) Pub. L. 119–21, § 70302(b)(1)(B), substituted “Foreign” for “Specified” in heading and “foreign research” for…
  • (d) Pub. L. 119–21, § 70302(b)(1)(C), substituted “foreign research or experimental expenditures” for “specified research…

§ 174A Domestic research or experimental expenditures

§ 179 Election to expense certain depreciable business assets

  • (b)(1) Pub. L. 119–21, § 70306(a)(1), substituted “$2,500,000” for “$1,000,000”.
  • (b)(2) Pub. L. 119–21, § 70306(a)(2), substituted “$4,000,000” for “$2,500,000”.
  • (b)(6)(A) Pub. L. 119–21, § 70306(b)(1), inserted “(2025 in the case of the dollar amounts in paragraphs (1) and (2))” after “In…
  • (b)(6)(A)(ii) Pub. L. 119–21, § 70306(b)(2), substituted “determined by substituting in subparagraph (A)(ii) thereof—” for…

§ 179D Energy efficient commercial buildings deduction

  • (i) Pub. L. 119–21 added subsec. (i).

§ 181 Treatment of certain qualified productions

  • § 181 Pub. L. 119–21, § 70434(h)(1), amended section catchline generally. Prior to amendment, section catchline read as…
  • (a)(1) Pub. L. 119–21, § 70434(a), substituted “qualified film or television production, any qualified live theatrical…
  • (a)(2)(C) Pub. L. 119–21, § 70434(b), added subpar. (C).
  • (b) Pub. L. 119–21, § 70434(c), substituted “qualified film or television production, any qualified live theatrical…
  • (c)(1) Pub. L. 119–21, § 70434(d), substituted “qualified film or television production, any qualified live theatrical…
  • (f) (g) Pub. L. 119–21, § 70434(e), added subsec. (f) and redesignated former subsec. (f) as (g). Former subsec. (g)…
  • (h) Pub. L. 119–21, § 70434(f), substituted “qualified film and television productions, qualified live theatrical…
  • (h) Pub. L. 119–21, § 70434(e), redesignated subsec. (g) as (h).

§ 195 Start-up expenditures

  • (c)(1) Pub. L. 119–21 substituted “174, or 174A” for “or 174” in concluding provisions.

§ 199A Qualified business income

  • (a) Pub. L. 119–21, § 70105(b)(2), inserted “except as provided in subsection (i),” before “there” in introductory…
  • (b)(3)(B) Pub. L. 119–21, § 70105(a)(1), substituted “$75,000 ($150,000 in the case of a joint return)” for “$50,000 ($100,000 in…
  • (c)(4)(D) Pub. L. 119–21, § 70201(d), added subpar. (D).
  • (d)(3) Pub. L. 119–21, § 70105(a)(2), substituted “$75,000 ($150,000 in the case of a joint return)” for “$50,000 ($100,000 in…
  • (e)(1) Pub. L. 119–21, § 70111(b)(1), inserted “without regard to section 68 and” after “shall be computed”.
  • (g)(2)(B) Pub. L. 119–21, § 70111(b)(2), inserted “section 68 or” after “without regard to”.
  • (i) Pub. L. 119–21, § 70105(b)(1), amended subsec. (i) generally. Prior to amendment, text read as follows: “This section…

§ 217 Moving expenses

  • (k) Pub. L. 119–21, § 70113(b), designated existing provisions as par. (1), inserted heading, and added par. (2).
  • (k) Pub. L. 119–21, § 70113(a), substituted “beginning after 2017” for “2018 through 2025” in heading and struck out “, and…

§ 223 Health savings accounts

  • (c)(1)(B)(ii) Pub. L. 119–21, § 71306(b), struck out “(in the case of months or plan years to which paragraph (2)(E) applies)” after…
  • (c)(1)(E) Pub. L. 119–21, § 71308(a), added subpar. (E).
  • (c)(2)(E) Pub. L. 119–21, § 71306(a), amended subpar. (E) generally. Prior to amendment, text read as follows: “In the case of—
  • (c)(2)(H) Pub. L. 119–21, § 71307(a), added subpar. (H).
  • (d)(2)(C)(v) Pub. L. 119–21, § 71308(b), added cl. (v).
  • (g)(1) Pub. L. 119–21, § 71308(c)(1), (3), substituted “in subsections (b)(2), (c)(2)(A), and in the case of taxable years…
  • (g)(1)(B) Pub. L. 119–21, § 71308(c)(2), substituted “clauses (ii) and (iii)” for “clause (ii)”, in cl. (i), and added cl. (iii).

§ 224 Qualified tips

§ 225 Qualified overtime compensation

§ 226 Cross reference

  • § 226 Pub. L. 119–21 successively renumbered sections 224 and 225 of this title as this section.

§ 250 Foreign-derived deduction eligible income and net CFC tested income

  • § 250 Pub. L. 119–21, § 70323(b)(2)(C)(i), substituted “Foreign-derived deduction eligible” for “Foreign-derived intangible”…
  • § 250 Pub. L. 119–21, § 70323(a)(3)(A)(ii), substituted “net CFC tested income” for “global intangible low-taxed income” in…
  • (a)(1)(A) Pub. L. 119–21, § 70323(b)(1), substituted “foreign-derived deduction eligible income” for “foreign-derived intangible…
  • (a)(1)(A) Pub. L. 119–21, § 70321(a)(1), substituted “33.34 percent” for “37.5 percent”.
  • (a)(1)(B) Pub. L. 119–21, § 70321(a)(2), substituted “40 percent” for “50 percent” in introductory provisions.
  • (a)(1)(B)(i) Pub. L. 119–21, § 70323(a)(3)(A)(i), substituted “net CFC tested income” for “global intangible low-taxed income”.
  • (a)(2) Pub. L. 119–21, § 70323(b)(2)(A), substituted “foreign-derived deduction eligible income” for “foreign-derived…
  • (a)(2) Pub. L. 119–21, § 70323(a)(3)(A)(i), substituted “net CFC tested income” for “global intangible low-taxed income” in…
  • (a) Pub. L. 119–21, § 70321(a)(3), struck out par. (3). Text read as follows: “In the case of any taxable year beginning…
  • (b) Pub. L. 119–21, § 70323(b)(2)(B)(iv), substituted “deduction eligible” for “intangible” in heading.
  • (b) Pub. L. 119–21, § 70323(b)(2)(B)(i)–(iii), struck out pars. (1) and (2), redesignated former pars. (4) and (5) as (1)…
  • (b)(3)(A)(i)(II) Pub. L. 119–21, § 70323(a)(3)(A)(i), substituted “net CFC tested income” for “global intangible low-taxed income”.
  • (b)(3)(A)(i)(VII) Pub. L. 119–21, § 70322(a)(1), added subcl. (VII).
  • (b)(3)(A)(ii) Pub. L. 119–21, § 70322(b)(1), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “the…
  • (b) Pub. L. 119–21, § 70322(a)(2), inserted “(other than paragraph (3)(A)(i)(VII))” after “For purposes of this subsection”.

§ 263 Capital expenditures

  • (a)(1)(B) Pub. L. 119–21 inserted “or 174A” after “174”.

§ 263A Capitalization and inclusion in inventory costs of certain expenses

  • (c)(2) Pub. L. 119–21 inserted “or 174A” after “174”.

§ 274 Disallowance of certain entertainment, etc., expenses

  • (l) Pub. L. 119–21, § 70112(c), struck out par. (1) designation and heading before “No deduction” and struck out par. (2).…
  • (n)(2)(C)(v) Pub. L. 119–21, § 70305(b), added cl. (v).
  • (o) Pub. L. 119–21, § 70305(a), substituted “Except in the case of an expense described in subsection (e)(8) or (n)(2)(C)…

§ 280C Certain expenses for which credits are allowable

  • (a) Pub. L. 119–21, § 70304(b), substituted “45S(a)(1)(A)” for “45S(a)” and inserted “No deduction shall be allowed for…
  • (c)(1) Pub. L. 119–21, § 70302(b)(2)(B), amended par. (1) generally. Prior to amendment, text read as follows: “If—

§ 460 Special rules for long-term contracts

  • (c)(6)(B) Pub. L. 119–21, § 70301(a)(5)(D), substituted “which has a recovery period of 7 years or less.” for “which—
  • (e)(1) Pub. L. 119–21, § 70430(a)(1), in concluding provisions, substituted “residential construction contract” for “home…
  • (e)(1)(A) Pub. L. 119–21, § 70430(a)(1)(A), substituted “residential construction contract” for “home construction contract”.
  • (e)(4) Pub. L. 119–21, § 70430(a)(2), redesignated par. (5) as (4) and struck out former par. (4). Prior to amendment, text of…
  • (e)(4)(A) Pub. L. 119–21, § 70430(a)(3), substituted “paragraph (3)” for “paragraph (4)” in introductory provisions.
  • (e) Pub. L. 119–21, § 70430(a)(2), redesignated par. (5) as (4).

§ 461 General rule for taxable year of deduction

  • (l)(1)(A) Pub. L. 119–21, § 70601(a), struck out “and before January 1, 2029,” after “December 31, 2017,”.
  • (l)(1)(B) Pub. L. 119–21, § 70601(a), struck out “and before January 1, 2029,” after “December 31, 2020,”.
  • (l)(3)(C) Pub. L. 119–21, § 70601(b)(1), substituted “December 31, 2025” for “December 31, 2018” in introductory provisions.
  • (l)(3)(C)(ii) Pub. L. 119–21, § 70601(b)(2), substituted “2024” for “2017”.

§ 529 Qualified tuition programs

  • (c)(3)(C)(i)(III) Pub. L. 119–21, § 70117(a), struck out “before January 1, 2026,” before “to an ABLE account”.
  • (c)(7) Pub. L. 119–21, § 70413(a)(1), amended par. (7) generally. Prior to amendment, text read as follows: “Any reference in…
  • (e)(3)(A) Pub. L. 119–21, § 70413(b)(1), which directed that the “last sentence of section 529(e)(3)” be amended by substituting…
  • (e)(3)(C) Pub. L. 119–21, § 70414(a), added subpar. (C).
  • (f) (g) Pub. L. 119–21, § 70414(b), added subsec. (f) and redesignated former subsec. (f) as (g).

§ 529A Qualified ABLE programs

  • (b)(2)(B) Pub. L. 119–21, § 70204(a)(2)(A), which directed the insertion of “or received in a qualified ABLE rollover…
  • (b)(2)(B)(i) Pub. L. 119–21, § 70115(a)(1), inserted “(determined by substituting ‘1996’ for ‘1997’ in paragraph (2)(B) thereof)”…
  • (b)(2)(B)(ii) Pub. L. 119–21, § 70115(a)(2), struck out “before January 1, 2026” after “paragraph (7)” in introductory provisions.
  • (b)(6) Pub. L. 119–21, § 70204(a)(2)(B), inserted “but do not include any contributions received in a qualified ABLE rollover…

§ 530A Trump accounts

§ 543 Personal holding company income

  • (d)(4)(A)(i) Pub. L. 119–21 inserted “174A,” after “174,”.

§ 707 Transactions between partner and partnership

  • (a)(2) Pub. L. 119–21 substituted “Except as provided” for “Under regulations prescribed” in introductory provisions.

§ 856 Definition of real estate investment trust

  • (c)(4)(B)(ii) Pub. L. 119–21 substituted “25 percent” for “20 percent”.

§ 864 Definitions and special rules

  • (g)(2) Pub. L. 119–21 substituted “foreign research or experimental expenditures within the meaning of section 174 or domestic…

§ 898 Taxable year of certain foreign corporations

  • (c)(2) (c) Pub. L. 119–21 redesignated par. (3) as (2) and struck out former par. (2). Prior to amendment, text of par. (2) read…

§ 904 Limitation on credit

  • (b)(5) Pub. L. 119–21, § 70311(a), added par. (5).
  • (b)(6) Pub. L. 119–21, § 70313(a), added par. (6).
  • (d)(2)(H)(i) Pub. L. 119–21, § 70311(b)(1), substituted “paragraph (1)(D)” for “paragraph (1)(B)”.
  • (d)(4)(C)(ii) Pub. L. 119–21, § 70311(b)(2), substituted “paragraph (1)(C)” for “paragraph (1)(A)”.

§ 951 Amounts included in gross income of United States shareholders

  • (a) Pub. L. 119–21 amended subsec. (a) generally. Prior to amendment, subsec. (a) consisted of pars. (1) and (2) relating…

§ 951A Net CFC tested income included in gross income of United States shareholders

  • § 951A Pub. L. 119–21, § 70323(a)(3)(E)(i), substituted “Net CFC tested income” for “Global intangible low-taxed income” in…
  • (a) Pub. L. 119–21, § 70323(a)(1), substituted “net CFC tested income” for “global intangible low-taxed income”.
  • (b) Pub. L. 119–21, § 70323(a)(2), redesignated subsec. (c) as (b) and struck out former subsec. (b) defining “global…
  • (b)(1)(A) Pub. L. 119–21, § 70354(b)(1)(A), struck out “(determined for each taxable year of such controlled foreign corporation…
  • (b)(1)(B) Pub. L. 119–21, § 70354(b)(1)(B), struck out “(determined for each taxable year of such controlled foreign corporation…
  • (c) Pub. L. 119–21, § 70323(a)(2), redesignated subsec. (e) as (c). Former subsec. (c) redesignated (b).
  • (c)(1) Pub. L. 119–21, § 70354(b)(2)(A), substituted “determined under section 951(a)(3)” for “in which or with which the…
  • (c)(1) Pub. L. 119–21, § 70323(a)(3)(B), substituted “subsections (b)(1)(A) and (b)(1)(B)” for “subsections (b), (c)(1)(A)…
  • (c)(2) Pub. L. 119–21, § 70354(b)(2)(B), substituted “any day in such taxable year” for “the last day in the taxable year of…
  • (d) Pub. L. 119–21, § 70323(a)(3)(C)(i), substituted “net CFC tested income” for “global intangible low-taxed income”…
  • (d) Pub. L. 119–21, § 70323(a)(2), redesignated subsec. (f) as (d) and struck out former subsec. (d) which related to…
  • (d)(2)(B)(ii) Pub. L. 119–21, § 70323(a)(3)(C)(ii), substituted “subsection (b)(1)(A)” for “subsection (c)(1)(A)”.
  • § 951A Pub. L. 119–21, § 70323(a)(2), redesignated subsec. (e) as (c).
  • § 951A Pub. L. 119–21, § 70323(a)(2), redesignated subsec. (f) as (d).
  • § 951A Pub. L. 119–21, § 70311(b)(3), substituted “904(h)” for “904(h)(1)”.

§ 951B Amounts included in gross income of foreign controlled United States shareholders

§ 954 Foreign base company income

  • (c)(6)(C) Pub. L. 119–21 struck out “and before January 1, 2026,” after “after December 31, 2005,”.

§ 958 Rules for determining stock ownership

  • (b) Pub. L. 119–21, § 70353(a)(2), substituted “Paragraphs (1) and (4)” for “Paragraph (1)” in concluding provisions.
  • (b)(4) Pub. L. 119–21, § 70353(a)(1), added par. (4).

§ 960 Deemed paid credit for subpart F inclusions

  • (d)(1) Pub. L. 119–21, § 70312(a)(1), substituted “90 percent” for “80 percent” in introductory provisions.
  • (d)(2)(A) Pub. L. 119–21, § 70323(a)(3)(D)(i), substituted “net CFC tested income” for “global intangible low-taxed income”.
  • (d)(2)(B) Pub. L. 119–21, § 70323(a)(3)(D)(ii), substituted “section 951A(b)(1)(A)” for “section 951A(c)(1)(A)”.
  • (d)(4) Pub. L. 119–21, § 70312(b), added par. (4).

§ 1016 Adjustments to basis

  • (a)(14) Pub. L. 119–21 substituted “deductions under section 174 or 174A(c)” for “deductions as deferred expenses under section…

§ 1062 Gain from the sale or exchange of qualified farmland property to qualified farmers

§ 1063 Cross references

  • § 1063 Pub. L. 119–21 renumbered section 1062 of this title as this section.

§ 1202 Partial exclusion for gain from certain small business stock

  • (a)(1) Pub. L. 119–21, § 70431(a)(1), amended par. (1) generally. Prior to amendment, text read as follows: “In the case of a…
  • (a)(3)(A) Pub. L. 119–21, § 70431(a)(5)(A), substituted “paragraph (1)(A)” for “paragraph (1)”.
  • (a)(4) Pub. L. 119–21, § 70431(a)(5)(B), which directed amendment of par. (4)(A) of subsec. (a) by inserting “and on or before…
  • (a)(4)(A) Pub. L. 119–21, § 70431(a)(5)(A), substituted “paragraph (1)(A)” for “paragraph (1)”.
  • (a)(4) Pub. L. 119–21, § 70431(a)(4)(B), struck out subpar. (C) which read as follows: “paragraph (7) of section 57(a) shall…
  • (a)(5) Pub. L. 119–21, § 70431(a)(2), added par. (5).
  • (a)(6) Pub. L. 119–21, § 70431(a)(3), added par. (6).
  • (b)(1)(A) Pub. L. 119–21, § 70431(b)(1), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows…
  • (b)(2) Pub. L. 119–21, § 70431(a)(5)(C), substituted “at least 3 years (more than 5 years in the case of stock acquired on or…
  • (b)(3)(A) Pub. L. 119–21, § 70431(b)(3), amended subpar. (A) generally. Prior to amendment, text read as follows: “In the case of…
  • (b)(4) Pub. L. 119–21, § 70431(c)(2), added par. (4) relating to inflation adjustment. Paragraph was added as directed “at the…
  • (b)(4) Pub. L. 119–21, § 70431(b)(2), added par. (4) relating to applicable dollar limit.
  • (b)(5) Pub. L. 119–21, § 70431(b)(2), added par. (5).
  • (d)(1)(A) (d)(1)(B) Pub. L. 119–21, § 70431(c)(1), substituted “$75,000,000” for “$50,000,000”.
  • (e)(2)(B) Pub. L. 119–21, § 70302(b)(11), substituted “which are treated as foreign research or experimental expenditures under…
  • (g)(2)(A) (j)(1)(A) Pub. L. 119–21, § 70431(a)(5)(C), substituted “at least 3 years (more than 5 years in the case of stock acquired on or…

§ 1245 Gain from dispositions of certain depreciable property

  • (a)(3)(G) Pub. L. 119–21 added subpar. (G).

§ 1371 Coordination with subchapter C

  • (d)(1) Pub. L. 119–21 substituted “section 50(a)(6)” for “section 50(a)(5)”.

§ 1400Z-1 Designation

  • (b)(3) Pub. L. 119–21, § 70421(a)(3), struck out par. (3). Text read as follows: “Each population census tract in Puerto Rico…
  • (c) Pub. L. 119–21, § 70421(b)(1), substituted “For purposes of this section—” for “For purposes of this subsection—” in…
  • (c)(2)(B) Pub. L. 119–21, § 70421(a)(1), substituted “beginning on the decennial determination date” for “beginning on the date…
  • (c)(2)(C) Pub. L. 119–21, § 70421(a)(2), added subpar. (C).
  • (d)(1) Pub. L. 119–21, § 70421(a)(4)(A), struck out “and subsection (b)(3)” after “by paragraph (2)” and inserted “during any…
  • (d)(2) Pub. L. 119–21, § 70421(a)(4)(B), inserted “during any period” before period at end.
  • (e) Pub. L. 119–21, § 70421(b)(3), amended subsec. (e) generally. Prior to amendment, text read as follows: “A designation…
  • (e) Pub. L. 119–21, § 70421(b)(2), redesignated subsec. (f) as (e) and struck out former subsec. (e) which related to…
  • § 1400Z-1 Pub. L. 119–21, § 70421(b)(2), redesignated subsec. (f) as (e).

§ 1400Z-2 Special rules for capital gains invested in opportunity zones

  • (a)(2) Pub. L. 119–21, § 70421(c)(1), amended par. (2) generally. Prior to amendment, text read as follows: “No election may…
  • (b) Pub. L. 119–21, § 70421(c)(2), amended subsec. (b) generally. Prior to amendment, subsec. (b) related to deferral of…
  • (c) Pub. L. 119–21, § 70421(c)(3), substituted “makes an election under this subsection, the basis of such investment shall…
  • (d)(2)(B)(i)(I) (d)(2)(B)(i) Pub. L. 119–21, § 70421(c)(4)(B)(i), substituted “the applicable date” for “December 31, 2017,”.
  • (d)(2)(D)(i)(I) Pub. L. 119–21, § 70421(c)(4)(A), substituted “the applicable start date (as defined in section 1400Z–1(e)(2)) with…
  • (d)(2)(D)(ii) Pub. L. 119–21, § 70421(c)(4)(C), inserted “(50 percent of such adjusted basis in the case of property in a qualified…
  • (d)(2) Pub. L. 119–21, § 70421(c)(4)(B)(ii), added subpar. (E).

§ 2010 Unified credit against estate tax

  • (c)(3)(A) Pub. L. 119–21, § 70106(a)(1), substituted “$15,000,000” for “$5,000,000”.
  • (c)(3)(B) Pub. L. 119–21, § 70106(a)(2)(A), substituted “2026” for “2011” in introductory provisions.
  • (c)(3)(B)(ii) Pub. L. 119–21, § 70106(a)(2)(B), substituted “calendar year 2025” for “calendar year 2010”.
  • (c)(3) Pub. L. 119–21, § 70106(a)(3), struck out subpar. (C). Text read as follows: “In the case of estates of decedents dying…

§ 3134 Employee retention credit for employers subject to closure due to COVID–19

  • (l) Pub. L. 119–21 amended subsec. (l) generally. Prior to amendment, text read as follows: “Notwithstanding section 6501…

§ 3406 Backup withholding

  • (b)(6) Pub. L. 119–21, § 70433(d)(2), substituted “only where in excess of threshold” for “only where aggregate for calendar…
  • (b)(6)(A) Pub. L. 119–21, § 70433(d)(1), substituted “the dollar amount in effect for such calendar year under section 6041(a)”…
  • (b)(8) Pub. L. 119–21, § 70432(b)(1), added par. (8).

§ 4101 Registration and bond

  • (a)(1) Pub. L. 119–21, § 70521(i)(1), amended Pub. L. 117–169, § 13704(b)(5). See 2022 Amendment note below.

§ 4182 Exemptions

  • (a) Pub. L. 119–21 inserted at end “For purposes of the preceding sentence, any firearm described in section 5811(a)(2)…

§ 4475 Imposition of tax

§ 4960 Tax on excess tax-exempt organization executive compensation

  • (c)(2) Pub. L. 119–21 amended par. (2) generally. Prior to amendment, text read as follows: “For purposes of this section, the…

§ 4968 Excise tax based on investment income of private colleges and universities

  • § 4968 Pub. L. 119–21 amended section generally. Prior to amendment, section consisted of subsecs. (a) to (d) relating to tax…

§ 4973 Tax on excess contributions to certain tax-favored accounts and annuities

  • (h)(1) Pub. L. 119–21 inserted “or contributions received in a qualified ABLE rollover contribution described in section…

§ 5000A Requirement to maintain minimum essential coverage

  • (d)(3) Pub. L. 119–21 substituted “an eligible alien (within the meaning of section 36B(e)(2))” for “an alien lawfully present…

§ 5811 Transfer tax

  • (a) Pub. L. 119–21 amended subsec. (a) generally. Prior to amendment, text read as follows: “There shall be levied…

§ 5821 Making tax

  • (a) Pub. L. 119–21 amended subsec. (a) generally. Prior to amendment, text read as follows: “There shall be levied…

§ 6011 General requirement of return, statement, or list

  • (e)(8) Pub. L. 119–21 added par. (8).

§ 6033 Returns by exempt organizations

  • (o) (p) Pub. L. 119–21 added subsec. (o) and redesignated former subsec. (o) as (p).

§ 6039K Returns with respect to qualified opportunity funds and qualified rural opportunity funds

§ 6039L Information required from qualified opportunity zone businesses and qualified rural opportunity zone businesses

§ 6041 Information at source

  • (a) Pub. L. 119–21, § 70433(e), substituted “exceeding threshold” for “of $600 or more” in heading and “calendar year” for…
  • (a) Pub. L. 119–21, § 70433(a), substituted “$2,000” for “$600”.
  • (a) Pub. L. 119–21, § 70202(c)(2)(A), which directed the insertion of “and a separate accounting of any amount of qualified…
  • (a) Pub. L. 119–21, § 70201(f)(1)(A), inserted “(including a separate accounting of any such amounts reasonably designated…
  • (d)(3) Pub. L. 119–21, § 70201(f)(1)(B), added par. (3).
  • (d)(4) Pub. L. 119–21, § 70202(c)(2)(B), added par. (4).
  • (h) Pub. L. 119–21, § 70433(b), added subsec. (h).

§ 6041A Returns regarding payments of remuneration for services and direct sales

  • (a) Pub. L. 119–21, § 70201(f)(2)(A), inserted “(including a separate accounting of any such amounts reasonably designated…
  • (a)(2) Pub. L. 119–21, § 70433(c), substituted “equals or exceeds the dollar amount in effect for such calendar year under…
  • (e)(3) Pub. L. 119–21, § 70201(f)(2)(B), added par. (3).

§ 6050AA Returns relating to applicable passenger vehicle loan interest received in trade or business from individuals

§ 6050W Returns relating to payments made in settlement of payment card and third party network transactions

  • (a)(3) Pub. L. 119–21, § 70201(f)(3)(A), added par. (3).
  • (e) Pub. L. 119–21, § 70432(a)(1), amended subsec. (e) generally. Prior to amendment, text read as follows: “A third party…
  • (f)(2) Pub. L. 119–21, § 70201(f)(3)(B), inserted “(including a separate accounting of any such amounts that have been…

§ 6051 Receipts for employees

  • (a)(18) Pub. L. 119–21, § 70201(f)(4), added par. (18).
  • (a)(19) Pub. L. 119–21, § 70202(c)(1), added par. (19).

§ 6206 Special rules applicable to excessive claims under certain sections

  • § 6206 Pub. L. 119–21 substituted “6427, or 6435” for “or 6427” in two places and “6420, 6421, and 6435” for “6420 and 6421”.

§ 6213 Restrictions applicable to deficiencies; petition to Tax Court

  • (g)(2)(I) Pub. L. 119–21, § 70104(e), substituted “section 24” for “section 24(e)”.
  • (g)(2)(J) Pub. L. 119–21, § 70606(b), substituted “social security number or employer identification number” for “TIN”.
  • (g)(2)(W) Pub. L. 119–21, § 70103(b), added subpar. (W).
  • (g)(2)(X) Pub. L. 119–21, § 70119(b), added subpar. (X).
  • (g)(2)(Y) Pub. L. 119–21, § 70201(c), added subpar. (Y).
  • (g)(2)(Z) Pub. L. 119–21, § 70202(d), added subpar. (Z).
  • (g)(2)(AA) Pub. L. 119–21, § 70204(d)(3), added subpar. (AA).

§ 6417 Elective payment of applicable credits

  • (d)(3)(C)(i)(II)(bb) Pub. L. 119–21, § 70522(c), substituted “section 45Q(a)(3)(A)” for “paragraph (3)(A) or (4)(A) of section 45Q(a)”.
  • (d)(6)(D) Pub. L. 119–21, § 70512(j)(2), added subpar. (D).

§ 6418 Transfer of certain credits

  • (f)(1)(A)(xii) Pub. L. 119–21, § 70521(j)(2), added cl. (xii).
  • (g)(3) Pub. L. 119–21, § 70513(b)(3)(B)(ii), substituted “subsection (a)(7)” for “subsection (a)(5)” in subpars. (A) and (B).
  • (g)(5) Pub. L. 119–21, § 70512(h), added par. (5).

§ 6426 Credit for alcohol fuel, biodiesel, and alternative fuel mixtures

  • (k)(4) Pub. L. 119–21, § 70521(g)(1)(A), added par. (4).
  • (k)(5) Pub. L. 119–21, § 70521(h), added par. (5).

§ 6430 Treatment of tax imposed at Leaking Underground Storage Tank Trust Fund financing rate

  • (4) Pub. L. 119–21 added par. (4).

§ 6434 Trump accounts contribution pilot program

§ 6435 Dyed fuel

§ 6501 Limitations on assessment and collection

  • (o) (p) Pub. L. 119–21 added subsec. (o) and redesignated former subsec. (o) as (p).

§ 6659 Improper claim for Trump account contribution pilot program credit

§ 6662 Imposition of accuracy-related penalty on underpayments

  • (m) Pub. L. 119–21 added subsec. (m).

§ 6675 Excessive claims with respect to the use of certain fuels

  • (a) Pub. L. 119–21, § 70525(b)(3)(A), substituted “6427 (relating to fuels not used for taxable purposes), or 6435…
  • (b)(1) Pub. L. 119–21, § 70525(b)(3)(B), substituted “6421, 6427, or 6435,” for “6421, or 6427,”.

§ 6676 Erroneous claim for refund or credit

  • (a) Pub. L. 119–21 substituted “income or employment tax” for “income tax”.

§ 6693 Failure to provide reports on certain tax-favored accounts or annuities; penalties relating to designated nondeductible contributions

  • (a)(2)(G) Pub. L. 119–21 added subpar. (G).

§ 6695B Penalty for substantial misstatements on certification provided by supplier

§ 6696 Rules applicable with respect to sections 6694, 6695, 6695A, and 6695B

  • § 6696 Pub. L. 119–21, § 70512(k)(2)(A)(i), (ii), substituted “6695A, and 6695B” for “and 6695A” in section catchline and…
  • (c) Pub. L. 119–21, § 70512(k)(2)(A)(iii), substituted “6695A, or 6695B” for “or 6695A”.
  • (d)(1) Pub. L. 119–21, § 70512(k)(2)(A)(iv)(I), inserted “(or, in the case of any penalty under section 6695B, 6 years)” after…
  • (d)(2) Pub. L. 119–21, § 70512(k)(2)(A)(iv)(II), inserted “(or, in the case of any claim for refund of an overpayment of any…

§ 6724 Waiver; definitions and special rules

  • (d)(1)(B)(xxix) Pub. L. 119–21, § 70203(c)(2)(A), added cl. (xxix).
  • (d)(2)(MM) Pub. L. 119–21, § 70203(c)(2)(B), added subpar. (MM).
  • (d)(2)(NN) (d)(2)(OO) Pub. L. 119–21, § 70421(d)(2)(B), added subpars. (NN) and (OO).

§ 6726 Failure to comply with information reporting requirements relating to qualified opportunity funds and qualified rural opportunity funds

§ 7652 Shipments to the United States

  • (f)(1) Pub. L. 119–21 amended par. (1) generally. Prior to amendment, par. (1) read as follows: “$10.50 ($13.25 in the case of…

§ 7701 Definitions

§ 7704 Certain publicly traded partnerships treated as corporations

  • (d)(1)(E) Pub. L. 119–21 substituted “gains derived from—” for “gains derived from”, inserted cl. (i) designation before “the…