# Pub. L. 95-600: changes to the Internal Revenue Code 1978-11-06, 92 Stat. 2767. Source: . ## Legislative history - Bill: [H.R. 13511](https://www.congress.gov/bill/95th-congress/house-bill/13511) - Bluebook: [JCT general explanation (1979)](https://www.govinfo.gov/app/details/CPRT-96JPRT35922O) ## § 1: Tax imposed - § 1(a): Pub. L. 95–600 generally made a downward revision of tax table for married individuals filing joint returns and surviving spouses resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $3,400 or less was substituted for a bottom bracket imposing no tax on taxable income of $3,200 or less. - § 1(b): Pub. L. 95–600 generally made a downward revision of tax table for heads of household resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $2,300 or less was substituted for a bottom bracket imposing no tax on taxable income of $2,200 or less. - § 1(c): Pub. L. 95–600 generally made a downward revision of tax table for unmarried individuals other than surviving spouses and heads of households resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $2,300 or less was substituted for a bottom bracket imposing no tax on taxable income of $2,200 or less. - § 1(d): Pub. L. 95–600 generally made a downward revision of tax tables for married individuals filing separate returns resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $1,700 or less was substituted for a bottom bracket imposing no tax on taxable income of $1,600 or less. - § 1(e): Pub. L. 95–600 generally made a downward revision of tax tables for estates and trusts resulting in a table under which, among other changes, a bottom bracket under which a tax of 14% is imposed on taxable income of $1,050 for a bottom bracket under which a tax of 14% was imposed on taxable income of $500 or less. ## § 3: Tax tables for individuals - § 3(b)(1): Pub. L. 95–600 redesignated subpars. (C) and (D) as (B) and (C), respectively, and struck out former subpar. (B) which related to the alternative capital gains tax under section 1201 of this title. ## § 5: Cross references relating to tax on individuals - § 5(a)(3): Pub. L. 95–600, § 401(b)(2), redesignated par. (4) as (3). Former par. (3), relating to the alternative tax in the case of capital gains, was struck out. - § 5(a)(4), § 5(a): Pub. L. 95–600, §§ 401(b)(2), 421(e)(1), redesignated par. (5) as (4) and substituted “taxpayers other than corporations, see section 55” for “preferences, see section 56”. Former par. (4) redesignated (3). ## § 11: Tax imposed - § 11: Pub. L. 95–600 reduced corporate tax rates by substituting provisions imposing a five-step tax rate structure on corporate taxable income for provisions using a normal tax and surtax approach to the taxation of corporate taxable income. ## § 12: Cross references relating to tax on corporations - § 12: Pub. L. 95–600 substituted “benefits of graduated rate schedule provided in section 11(b)” for “the $25,000 exemption from surtax provided in section 11(c)”. ## § 15: Effect of changes - § 15(f): Pub. L. 95–600 added subsec. (f). ## § 21: Expenses for household and dependent care services necessary for gainful employment - § 21(f): Pub. L. 95–600 substituted provision disallowing a credit for any amount paid by a taxpayer to an individual with respect to whom, for the taxable year, a deduction under section 151(e) is allowable either to the taxpayer or his spouse or who is a child of the taxpayer who has not attained the age of 19 at the close of the taxpayer year and defining “taxpayer year” for provision disallowing a credit for any amount paid by the taxpayer to an individual bearing a relationship described in section 152(a)(1) through (8), or a dependent described in section 152(a)(9), except that a credit was allowed for an amount paid by a taxpayer to an individual with respect to whom, for the taxable year of the taxpayer in which the service was performed, neither the taxpayer nor his spouse was entitled to a deduction under section 151(e), provided the service constituted employment within the meaning of section 3121(b). ## § 22: Credit for the elderly and the permanently and totally disabled - § 22(e)(2): Pub. L. 95–600, § 701(a)(1), inserted “(and whose gross income includes income described in paragraph (4)(B))” after “who has not attained age 65 before the close of the taxable year”. - § 22(e): Pub. L. 95–600, § 701(a)(2), (3)(B), as amended by Pub. L. 96–222, § 107(a)(1)(E)(i), inserted “and who performed the services giving rise to the pension or annuity (or is the spouse of the individual who performed the services)” after “before the close of the taxable year” and substituted reference to paragraph (9)(A) for reference to paragraph (8)(A). - § 22(e): Pub. L. 95–600, § 701(a)(3)(C), as amended by Pub. L. 96–222, § 107(a)(1)(E)(i), substituted reference to paragraph (9)(A) for reference to paragraph (8)(A). - § 22(e): Pub. L. 95–600, § 701(a)(3)(A), as amended by Pub. L. 96–222, § 107(a)(1)(E)(i), added par. (8) and redesignated former par. (8) as (9). ## § 32: Earned income - § 32(a): Pub. L. 95–600, § 104(a), substituted “subtitle” for “chapter” and “$5,000” for “$4,000”. - § 32(b): Pub. L. 95–600, § 104(b), substituted provision limiting the allowable credit to an amount not to exceed the excess of $500 over 12.5 percent of so much of the adjusted gross income for the taxable year as exceeds $6,000 for provision limiting the allowable credit to an amount reduced by 10 percent of so much of the adjusted gross income for the taxable year as exceeds $4,000. - § 32(c)(1): Pub. L. 95–600, § 104(e), amended par. (1) generally, substituting in definition of eligible individual one who is married and is entitled to a deduction under section 151 for a child, provided the child has the same principal abode as the individual and the abode is in the United States, is a surviving spouse, or is a head of household, provided the household is in the United States for one who maintains a household in the United States which is the principal abode of that individual and a child of that individual who meets the requirements of section 151(e)(1)(B) or a child of that individual who is disabled within the meaning of section 72(m)(7) and to whom the individual is entitled to claim a deduction under section 151. - § 32(c)(2)(B): Pub. L. 95–600, § 104(d), redesignated cls. (ii) to (iv) as (i) to (iii), respectively. Former cl. (i), which provided that amounts be taken into account only if includible in the gross income of the taxpayer for the taxable year, was struck out. - § 32(f): Pub. L. 95–600, § 104(c), added subsec. (f). - § 32(h): Pub. L. 95–600, § 105(a), added subsec. (h). ## § 46: Amount of credit - § 46: Pub. L. 95–600, § 312(c)(2), as amended by Pub. L. 96–222, § 103(a)(2)(A), substituted “ ‘described in section 50 (as in effect before its repeal by the Revenue Act of 1978)’ ” for “ ‘described in section 50’ ”. - § 46: Pub. L. 95–600, § 311(a), made 10 percent limitation on investment tax credit permanent. - § 46: Pub. L. 95–600, § 141(e), (f)(2), substituted “December 31, 1983” for “and ending on December 31, 1980” wherever appearing, “section 48(n)(1)(B)” for “section 301(e) of the Tax Reduction Act of 1975” and “section 409A” for “section 301(d) of the Tax Reduction Act of 1975”. - § 46: Pub. L. 95–600, § 312(a), increased the present 50 percent tax liability limitation to 90 percent, to be phased in at an additional 10 percentage points per year beginning with taxable years which end in 1979. - § 46: Pub. L. 95–600, § 312(b)(1), in subpar. (A) substituted “the taxable year ending in 1979” for “a taxable year ending after calendar year 1974 and before calendar year 1981”, “subparagraph (B)” for “subparagraph (C)”, and “for ‘60 percent’ the taxpayer’s” for “for 50 percent his” and inserted “the application of this paragraph results in a percentage higher than 60 percent,” before “then subparagraph (B)”; in subpar. (B) substituted “70 percent” for “50 percent plus the tentative percentage for such year”; struck out former subpar. (C), which related to the determination of the tentative percentage, and redesignated former subpar. (D) as (C). - § 46: Pub. L. 95–600, § 312(b)(2), in subpar. (A) substituted “the taxable year ending in 1979” for “a taxable year ending after calendar year 1976, and before calendar year 1983”, “subparagraph (B)” for “subparagraph (C)”, and “for ‘60 percent’ (‘70 percent’ in the case of a taxable year ending in 1980) the taxpayer’s” for “for 50 percent his” and inserted reference to airline property and “the application of this paragraph results in a percentage higher than 60 percent (70 percent in the case of a taxable year ending in 1980),” before “then subparagraph (B)”; in subpar. (B) inserted reference to airline property and substituted “90 percent (80 percent in the case of a taxable year ending in 1980)” for “50 percent plus the tentative percentage for such year”; in subpar. (C) table struck out tentative percentage of 50 for 1977 or 1978, 20 for 1981, and 10 for 1982; and added subpar. (E). - § 46: Pub. L. 95–600, § 312(b)(2), struck out par. (9) which related to the alternative limitation in the case of certain airlines. - § 46: Pub. L. 95–600, § 311(c)(1), substituted “To the extent that the credit allowed by section 38 with respect to any public utility property is determined at the rate of 7 percent” for “For the period beginning on January 1, 1981”. - § 46: Pub. L. 95–600, § 313(a), increased the investment credit available to pollution control facilities which a taxpayer has elected to amortize over a five-year period to a full investment credit from a one-half investment credit. - § 46: Pub. L. 95–600, § 316(b)(1), struck out subpar. (C) which related to a cooperative organization described in section 1381(a). - § 46: Pub. L. 95–600, § 316(b)(2), struck out subpar. (C) which related to a cooperative organization. - § 46: Pub. L. 95–600, § 312(c)(2), struck out “described in section 50” after “with respect to any property”. See 1980 Amendment note above. - § 46: Pub. L. 95–600, §§ 311(c)(2), 703(a)(1), substituted “subsection (a)(7)(D)” for “subsection (a)(6)(D)” and inserted reference to the Revenue Act of 1978. - § 46: Pub. L. 95–600, § 703(a)(2), substituted “Merchant Marine Act, 1936” for “Merchant Marine Act, 1970”. - § 46: Pub. L. 95–600, § 316(a), added subsec. (h). ## § 47: Rehabilitation credit - § 47(b): Pub. L. 95–600, § 317(a), added par. (3). ## § 48: Energy credit - § 48(a)(7)(B): Pub. L. 95–600, § 312(c)(2), as amended by Pub. L. 96–222, § 103(a)(2)(A), substituted “ ‘described in section 50 (as in effect before its repeal by the Revenue Act of 1978’ ” for “ ‘described in section 50’ ”. - § 48(a)(1): Pub. L. 95–600, § 314(a), added par. (D). - § 48(a)(1): Pub. L. 95–600, § 315(a), added par. (E). - § 48(a)(7)(A): Pub. L. 95–600, § 312(c)(3), struck out “(other than pretermination property)” after “Property”. - § 48(a)(7)(B): Pub. L. 95–600, § 312(c)(2), struck out “described in section 50” after “with respect to property”. See 1980 Amendment note above. - § 48(a)(8): Pub. L. 95–600, § 315(c), substituted “188, or 191” for “or 188”. - § 48(d)(1): Pub. L. 95–600, § 703(a)(3), substituted “section 46(a)(6)” for “section 46(a)(5)”. - § 48(d): Pub. L. 95–600, § 703(a)(4), substituted “section 57(c)(1)(B)” for “section 57(c)(2)”. - § 48: Pub. L. 95–600, § 315(b), added subsec. (g). - § 48: Pub. L. 95–600, § 312(c)(1), struck out subsec. (h) which related to suspension of investment credit. - § 48: Pub. L. 95–600, § 312(c)(1), struck out subsec. (i) which related to an exemption from suspension of $20,000 of investment. - § 48: Pub. L. 95–600, § 312(c)(1), struck out subsec. (j) which defined “suspension period”. - § 48: Pub. L. 95–600, § 141(b), added subsec. (n). Former subsec. (n) redesignated (p). - § 48: Pub. L. 95–600, § 141(b), added subsec. (o). - § 48: Pub. L. 95–600, §§ 141(b), 314(b), added subsec. (p). Former subsec. (n) redesignated (p) and subsequently as (q). ## § 51: Amount of credit - § 51: Pub. L. 95–600 amended section generally and limited allowance of credit to the hiring of seven target groups with high unemployment rates. ## § 52: Special rules - § 52(a), § 52(b): Pub. L. 95–600, § 321(c)(1)(B), substituted “proportionate share of the wages” for “proportionate contribution to the increase in unemployment insurance wages”. - § 52(c), § 52(d): Pub. L. 95–600, § 321(c)(1)(A), struck out subsec. (c) which related to dispositions by an employer, and redesignated subsecs. (d) and (f) as (c) and (d), respectively. - § 52(e): Pub. L. 95–600, § 321(c)(1)(A), (C), redesignated subsec. (g) as (e) and struck out par. (3) which provided that the $100,000 amount specified in section 51(d) applicable to such estate or trust be reduced to an amount which bears the same ratio to $100,000 as the portion of the credit allocable to the estate or trust under paragraph (1) bears to the entire amount of such credit. Former subsec. (e), which related to a change in status from self-employed to employee, was struck out. - § 52: Pub. L. 95–600, § 321(c)(1)(A), redesignated subsecs. (f) to (h) as (d) to (f), respectively. - § 52: Pub. L. 95–600, § 321(c)(1)(A)(i), struck out subsec. (i) which related to a $50,000 limitation in the case of married individuals filing separate returns. - § 52: Pub. L. 95–600, § 321(c)(1)(A)(i), struck out subsec. (j) which related to certain short taxable years. ## § 63: Taxable income defined - § 63: Pub. L. 95–600 substituted “$3,400” for “$3,200” in par. (1), “$2,300” for “$2,200” in par. (2), and “$1,700” for “$1,600” in par. (3). ## § 85: Unemployment compensation - Enacted 26 U.S.C. § 85. ## § 103: Interest on State and local bonds - § 103(b)(1): Pub. L. 95–600, § 703(j)(1)(A), substituted “subsection (a)(1) or (2)” for “subsection (a)(1)” in heading. - § 103(b): Pub. L. 95–600, §§ 332(a), 333(a), in subpar. (G)(i) inserted reference to electric utility, industrial, agricultural, or commercial users and added subpar. (G)(ii) and provision following subpar. (G)(ii) relating to the local furnishing of electric energy. - § 103(b): Pub. L. 95–600, § 331(a), substituted in heading and cl. (i) “$10,000,000” for “$5,000,000”. - § 103(b): Pub. L. 95–600, § 331(b), added subpar. (I). - § 103(b): Pub. L. 95–600, § 334(a), (b), added par. (7), redesignated former par. (7) as (8) and, as so redesignated, substituted “(6), and (7)” for “and (6)”. - § 103(c)(1): Pub. L. 95–600, § 703(j)(1)(B), substituted in heading and text “(a)(1) or (2)” for “(a)(1) or (4)”. - § 103(c)(2): Pub. L. 95–600, § 703(j)(1)(C), substituted “subsection (a)(1) or (2)” for “subsection (a)(1) or (2) or (4)”. - § 103(c): Pub. L. 95–600, § 703(j)(1)(D), (q)(1), as amended by Pub. L. 96–222, § 107(a)(3)(C), substituted “section 438 of the Higher Education Act of 1965” for “section 2 of the Emergency Insured Student Loan Act of 1969” and “paragraph (2)(A)” for “subsection (d)(2)(A)”. - § 103: Pub. L. 95–600, § 703(j)(1)(E), substituted “subsection (b)(4)(G)” for “subsection (c)(4)(G)”. ## § 105: Amounts received under accident and health plans - § 105(d): Pub. L. 95–600, § 701 (c)(1), redesignated par. (5) as (4). Former par. (4) redesignated (5)(A) and (C). - § 105(d): Pub. L. 95–600, § 701(c)(1), added heading and subpar. (B), redesignated former par. (4) as subpars. (A) and (C), adding subpar. (C) heading and substituting “section 143(a)” for “section 143”; and redesignated former par. (6) as subpar. (D), inserting “defined” in heading. - § 105(d): Pub. L. 95–600, § 701(c)(1), redesignated par. (7) as (6). Former par. (6) redesignated (5)(D). - § 105(h): Pub. L. 95–600, § 366(a), added subsec. (h). ## § 118: Contributions to the capital of a corporation - § 118(b)(1): Pub. L. 95–600, § 364(a)(1), (2), substituted in provisions preceding subpar. (A) “electric energy, gas (through a local distribution system or transportation by pipeline), water,” for “water” and in subpar. (B) “electric energy, gas, steam, water,” for “water”. - § 118(b)(2): Pub. L. 95–600, § 364(a)(3), substituted “electric energy, gas, steam, water,” for “water”. - § 118(b): Pub. L. 95–600, § 364(a)(4), substituted “line to an electric line, a gas main, a steam line, or a main water or sewer line” for “property to a main water or sewer line”. - § 118(b): Pub. L. 95–600, § 364(a)(5), substituted “electric energy, gas, water,” for “water” and inserted “(including in the case of a gas transmission utility, the provision of gas services by sale for resale to the general public)” after “members of the general public”. ## § 121: Exclusion of gain from sale of principal residence - § 121: Pub. L. 95–600, § 404(a), substituted “One-time exclusion of gain from sale of principal residence by individual who has attained age 55” for “Gain from sale or exchange of residence of individual who has attained age 65” in section catchline. - § 121(a): Pub. L. 95–600, § 404(a), substituted “55” for “65”, “5-year” for “8-year”, and “3 years” for “5 years”. - § 121(b): Pub. L. 95–600, § 404(a), in par. (1) substituted provisions respecting dollar limitations for amount of gain for provisions setting forth applicable limitations where the adjusted sales price exceeds $35,000 and added par. (3). - § 121(d)(2): Pub. L. 95–600, § 404(c)(1), substituted “5-year period” for “8-year period”. - § 121(d)(5): Pub. L. 95–600, § 404(c)(2), substituted “5-year period” for “8-year period” and “3 years” for “5 years”. - § 121(d)(8): Pub. L. 95–600, § 404(b), added par. (8). ## § 125: Cafeteria plans - Enacted 26 U.S.C. § 125. ## § 126: Certain cost-sharing payments - Enacted 26 U.S.C. § 126. ## § 127: Educational assistance programs - Enacted 26 U.S.C. § 127. ## § 140: Cross references to other Acts - § 140: Pub. L. 95–600 successively renumbered sections 125, 126, and 127 of this title as this section. ## § 151: Allowance of deductions for personal exemptions - § 151: Pub. L. 95–600 increased exemption from $750 to $1,000 with respect to taxable years beginning after Dec. 31, 1978. ## § 164: Taxes - § 164(a): Pub. L. 95–600, § 111(a), struck out par. (5) relating to a deduction for State and local taxes on the sale of gasoline, diesel fuel, and other motor fuels. - § 164(b)(5): Pub. L. 95–600, § 111(b), struck out in heading “and gasoline taxes” after “sales taxes”, and in text “or of any tax on the sale of gasoline, diesel fuel, or other motor fuel” after “sales tax”. ## § 167: Depreciation - § 167(i): Pub. L. 95–600, § 312(c)(4), struck out subsec. (i) which related to a limitation in the case of property constructed or acquired during the suspension period. - § 167: Pub. L. 95–600, § 367, substituted “January 1, 1982” for “January 1, 1979” wherever appearing. - § 167: Pub. L. 95–600, § 701(f)(4), in par. (1), substituted “occupied by a certified historic structure (or by any structure in a registered historic district) which is demolished or substantially altered after such date” for “occupied by a certified historic structure (as defined in section 191(d)(1)) which is demolished or substantially altered (other than by virtue of a certified rehabilitation as defined in section 191(d)(3) after such date”, inserted “and” preceding subpar. (B), substituted “means” for “shall mean” in subpar. (B), and inserted provision that “The preceding sentence shall not apply if the last substantial alteration of the structure is a certified rehabilitation.”; in par. (2), substituted heading “Exceptions” for “Exception”, designated existing text as subpar. (A), and added subpar. (B); and added par. (3). - § 167: Pub. L. 95–600, § 701(f)(6), inserted in par. (1) “(other than property with respect to which an amortization deduction has been allowed to the taxpayer under section 191)” after “substantially rehabilitated historic property” and substituted in par. (2) “section 191(d)(4)” for “section 191(d)(3)”. ## § 170: Charitable, etc., contributions and gifts - § 170(e)(1)(B): Pub. L. 95–600 substituted “40 percent” for “50 percent” and “28⁄46” for “62½ percent”. ## § 172: Net operating loss deduction - § 172(b)(1)(A): Pub. L. 95–600, § 371(a)(2), as amended by Pub. L. 96–222, § 103(a)(15), substituted “(G), and (H)” for “and (G)”. - § 172(b)(1)(A): Pub. L. 95–600, § 703(p)(1)(A), struck out provisions relating to net operating loss carryback with respect to a taxable year ending on or after Dec. 31, 1962, for which a certification has been issued under section 317 of the Trade Expansion Act of 1962. - § 172(b)(1)(B): Pub. L. 95–600, § 701(d)(1), inserted reference to subpar. (G). - § 172(b)(1): Pub. L. 95–600, § 371(a)(1), added subpar. (H) relating to product liability losses. - § 172(b)(1): Pub. L. 95–600, § 601(b)(1), added subpar. (H) relating to an electing GSOC. - § 172(b)(3): Pub. L. 95–600, § 703(p)(1)(B), redesignated subpar. (C) as (A). Former subpar. (A), which related to conditions for application of paragraph (1)(A)(ii), was struck out. - § 172(b)(3): Pub. L. 95–600, § 703(p)(1)(B), (C), redesignated subpar. (D) as (B) and substituted “subparagraph (A)(iii)” for “subparagraph (C)(iii)”. Former subpar. (B), which related to the applicability of paragraph (1)(A)(ii) to partnerships and electing small business corporations, was struck out. - § 172(b)(3): Pub. L. 95–600, § 703(p)(1)(B), redesignated subpar. (E) as (C). Former subpar. (C) redesignated (A). - § 172(b)(3): Pub. L. 95–600, § 703(p)(1)(B), redesignated subpars. (D) and (E) as (B) and (C), respectively. - § 172: Pub. L. 95–600, § 371(b), added subsec. (i) and redesignated former subsec. (i) as (j). ## § 216: Deduction of taxes, interest, and business depreciation by cooperative housing corporation tenant-stockholder - § 216(b)(6): Pub. L. 95–600, added par. (6). ## § 219: Retirement savings - § 219(b)(4): Pub. L. 95–600, § 156(c)(3), inserted “403(b)(8)” after “403(a)(4)”. - § 219(b): Pub. L. 95–600, § 152(c), added par. (7). - § 219(c): Pub. L. 95–600, § 157(a)(1), substituted “not later than the time prescribed by law for filing the return for such taxable year (including extensions thereof)” for “not later than 45 days after the end of such taxable year”. - § 219(c): Pub. L. 95–600, § 703(c)(1), substituted “subsection (b)(2)(A)(iv)” for “subsection (b)(3)(A)(iv)” wherever appearing. - § 219(c): Pub. L. 95–600, § 157(b)(1), added par. (5). ## § 274: Disallowance of certain entertainment, etc., expenses - § 274(a)(1): Pub. L. 95–600, § 361(a), substituted provisions allowing no deduction for expenses paid or incurred with respect to a facility which is used in conjunction with an activity which is of a type generally considered to constitute entertainment, amusement, or recreation for provisions allowing a deduction for expenses paid or incurred with respect to a facility if the facility used is primarily for the furtherance of the taxpayer’s business, and the expense is “directly related” to the active conduct of taxpayer’s business. - § 274(a)(2): Pub. L. 95–600, § 361(b), as amended by Pub. L. 96–222, § 103(a)(10)(B), added subpar. (C). - § 274(h)(3): Pub. L. 95–600, § 701(g)(3), substituted “at least one-half” for “more than one-half” in first sentence. - § 274(h)(6)(D): Pub. L. 95–600, § 701(g)(1), designated existing provisions as cl. (i), inserted introductory phrase “Except as provided in clause (ii)” and substituted “For the purposes” for “For purpose”, and added cl. (ii). - § 274(h)(6)(E): Pub. L. 95–600, § 701(g)(2), added subpar. (E). ## § 275: Certain taxes ## § 280A: Disallowance of certain expenses in connection with business use of home, rental of vacation homes, etc. - § 280A(d)(3): Pub. L. 95–600 added par. (3). ## § 280B: Demolition of structures - § 280B: Pub. L. 95–600 substituted “registered historic district (as defined in section 191(d)(2))” for “Registered Historic District” and “Secretary of the Interior has certified that such structure is not a certified historic structure, and that such structure is not of historic significance to the district, and if such certification occurs after the beginning of the demolition of such structure, the taxpayer has certified to the Secretary that, at the time of such demolition, he in good faith was not aware of the certification requirement by the Secretary of the Interior” for “Secretary of the Interior has certified, prior to the demolition of such structure, that such structure is not of historic significance to the district”. ## § 280C: Certain expenses for which credits are allowable - § 280C: Pub. L. 95–600, as amended by Pub. L. 96–178 and Pub. L. 96–222, substituted “section 40 or 44B” for “section 44B” in section catchline, and in text designated existing provisions as subsec. (b) and added subsec. (a). ## § 306: Dispositions of certain stock - § 306(a): Pub. L. 95–600, § 702(a)(1), added par. (3) which related to ordinary income from the sale or redemption of section 306 stock which was carryover basis property adjusted for 1976 value. See Repeals note below. - § 306(b): Pub. L. 95–600, § 702(a)(2), added par. (5) which provided that subsec. (a) of this section shall not apply to the extent that section 303 applies to a distribution in redemption of section 306 stock. See Repeals note below. ## § 311: Taxability of corporation on distribution - § 311: Pub. L. 95–600 redesignated subpar. (H) as (G). ## § 316: Dividend defined - § 316(b)(3): Pub. L. 95–600 inserted “regulated investment company or” after “distributions by a” in heading and substituted in text “section 860(f)” for “section 859(d)”. ## § 357: Assumption of liability - § 357(c)(3): Pub. L. 95–600 added par. (3). ## § 358: Basis to distributees - § 358(d): Pub. L. 95–600 designated existing provisions as par. (1) and added par. (2). ## § 368: Definitions relating to corporate reorganizations - § 368(a)(2)(F): Pub. L. 95–600 substituted in cl. (iii), first sentence, “50 percent or more” and “80 percent or more” for “more than 50 percent” and “more than 80 percent”; substituted in cl. (vi), first sentence, “does not meet the requirements” for “is not diversified within the meaning”; struck from cl. (vi), second sentence, “(hereafter referred to as the (‘actual acquisition’)” after “section 368(a)(1)(B)” and “and security holders” after “the shareholders” and substituted “stock in such company for stock having a fair market value equal to the fair market value of their stock of such investment company immediately after the exchange” for “stock in such investment company for a percentage of the value of the total outstanding stock of the other corporation equal to the percentage of the value of the total outstanding stock of such investment company which such shareholders own immediately after the actual acquisition”; and added cls. (vii) and (viii). ## § 381: Carryovers in certain corporate acquisitions - § 381(c)(25): Pub. L. 95–600 substituted “regulated investment company or real estate investment trust” for “real estate investment trust” in heading, and in text “section 860(f)” for “section 859(d)” and “section 860” for “section 859”. ## § 401: Qualified pension, profit-sharing, and stock bonus plans - § 401(a)(5): Pub. L. 95–600, § 152(e), inserted provision that for purposes of determining whether one or more plans of the employer satisfy the requirements of section 410(b)(4), an employer may take into account all simplified employee pensions to which only the employer contributes. - § 401(a)(21): Pub. L. 95–600, § 141(f)(3), substituted “ESOP” for “employee stock option plan which satisfies the requirements of section 301(d) of the Tax Reduction Act of 1975” and “section 48(n)(1)” for “subsection (d)(6) or (e)(3) of section 301 of the Tax Reduction Act of 1975”. - § 401(a)(22): Pub. L. 95–600, § 143(a), added par. (22). - § 401(k), § 401(l): Pub. L. 95–600, § 135(a), added subsec. (k) and redesignated former subsec. (k) as (l). ## § 402: Taxability of beneficiary of employees’ trust - § 402(a): Pub. L. 95–600, § 157(h)(1), substituted “subparagraphs (B) and (H) of subsection (e)(4)” for “subsection (e)(4)(B)”. - § 402(a): Pub. L. 95–600, § 157(f)(1), added subpar. (D). - § 402(a): Pub. L. 95–600, § 157(g)(1), added par. (7). - § 402(a): Pub. L. 95–600, § 135(b), added par. (8). - § 402(e)(1): Pub. L. 95–600, § 101(d)(1), substituted “$2,300” for “$2,200”. ## § 403: Taxation of employee annuities - § 403(a)(4): Pub. L. 95–600, § 157(g)(2), in subpar. (B) substituted “paragraphs (6) and (7)” for “paragraph (6)”. - § 403(b)(1): Pub. L. 95–600, § 156(b), inserted provision relating to application of rules of this subsection to amounts contributed by an employer for a taxable year. - § 403(b)(7)(A): Pub. L. 95–600, § 154(a), struck out “the amounts are paid to provide a retirement benefit for that employee and are to be invested in regulated investment company stock to be held in that custodial account” after “contract for his employee if”, and added cls. (i) and (ii). - § 403(b)(8): Pub. L. 95–600, § 156(a), added par. (8). ## § 404: Deduction for contributions of an employer to an employees’ trust or annuity plan and compensation under a deferred-payment plan - § 404(a)(2): Pub. L. 95–600, § 141(f)(9), substituted “(20), and (22)” for “and (20)”. - § 404(b): Pub. L. 95–600, § 133(b), substituted “other plan” for “similar plan”. - § 404(d): Pub. L. 95–600, § 133(a), added subsec. (d). - § 404(h): Pub. L. 95–600, § 152(f), added subsec. (h). ## § 408: Individual retirement accounts - § 408(a)(1): Pub. L. 95–600, § 156(c)(3), inserted reference to section 403(b)(8). - § 408(b)(2): Pub. L. 95–600, § 157(d)(1), (e)(1)(A), designated existing provisions as subpars. (B) and (C) and added subpar. (A), and in subpar. (B) as so designated, inserted “on behalf of any individual” after “annual premium”, respectively. - § 408(d)(3)(A): Pub. L. 95–600, § 156(c)(1), added cl. (iii). - § 408(d)(3)(B): Pub. L. 95–600, § 157(g)(3), (h)(2), inserted provision relating to the applicability of clause (ii) of subparagraph (A) to any amount paid or distributed out of an individual retirement account or annuity to which an amount was contributed which was treated as a rollover contribution by section 402(a)(7) and substituted “1-year period” for “3-year period”. - § 408(d)(4): Pub. L. 95–600, § 703(c)(4), amended Pub. L. 94–455, § 1501(b)(5). See 1976 Amendment note below. - § 408(d)(5), § 408(d)(6): Pub. L. 95–600, § 157(c)(1), added par. (5) and redesignated former par. (5) as (6). - § 408(j), § 408(k), § 408(l), § 408(m): Pub. L. 95–600, § 152(a), added subsecs. (j) to (l) and redesignated former subsec. (j) as (m). ## § 409: Qualifications for tax credit employee stock ownership plans - Enacted 26 U.S.C. § 409. ## § 414: Definitions and special rules - § 414(b), § 414(c): Pub. L. 95–600 inserted “408(k),” after “sections 401,” wherever appearing. ## § 415: Limitations on benefits and contribution under qualified plans - § 415(a)(2): Pub. L. 95–600, § 152(g)(1), (2), as amended by Pub. L. 96–222, § 101(a)(10)(J)(iii), added subpar. (E), redesignated former subpars. (E) and (F) as (F) and (G), respectively, and in provision following subpar. (G) as so redesignated, inserted “408(k),” after “408(b),”. - § 415(b)(7): Pub. L. 95–600, § 153(a), added par. (7). - § 415(c)(6)(B): Pub. L. 95–600, § 141(f)(7), substituted “leveraged employee stock ownership plan (within the meaning of section 4975(e)(7)) or an ESOP” for “a plan which meets the requirements of section 4975(e)(7) or section 301(d) of the Tax Reduction Act of 1975”. - § 415(c)(6)(B): Pub. L. 95–600, § 141(f)(7), substituted “has the meaning given to such term by section 409A” for “means, in the case of an employee stock ownership plan within the meaning of section 4975(e)(7), qualifying employer securities within the meaning of section 4975(e)(8), but only if they are described in section 301(d)(9)(A) of the Tax Reduction Act of 1975, or, in the case of an employee stock ownership plan described in section 301(d)(2) of the Tax Reduction Act of 1975, employer securities within the meaning of section 301(d)(9)(A) of such Act”. - § 415(e): Pub. L. 95–600, § 152(g)(3), inserted “any simplified employee pension,” after “section 408(b),”. - § 415(k)(1): Pub. L. 95–600, § 152(g)(4), added subpar. (G) and redesignated former subpar. (G) as (H). ## § 443: Returns for a period of less than 12 months - § 443(b)(1): Pub. L. 95–600, § 703(o)(2), substituted “modified taxable income for such short period” for “gross income for such short period (minus the deductions allowed by this chapter for the short period, but only the adjusted amount of the deductions for personal exemptions)”. - § 443(b)(2): Pub. L. 95–600, § 703(o)(1), substituted in cl. (i) “modified taxable income” for “taxable income” in two places and in cl. (ii) “the sum of the modified taxable income” for “the taxable income” and “plus the zero bracket amount” for “without placing the taxable income on an annual basis”. - § 443(b)(3): Pub. L. 95–600, § 703(o)(3), added par. (3). - § 443(d): Pub. L. 95–600, § 421(e)(2), substituted “Adjustment in computing minimum tax for tax preferences” for “Adjustment in exclusion for computing minimum tax for tax preferences” in heading, redesignated existing provisions as par. (2) and as so redesignated applied par. (2) to corporations, and added par. (1). ## § 447: Method of accounting for corporations engaged in farming - § 447(a): Pub. L. 95–600, §§ 353(a), 703(d), substituted in provisions following par. (2) “preproductive period expenses” for “preproductive expenses” and “nursery or sod farm” for “nursery”. - § 447: Pub. L. 95–600, § 701(l)(1), struck out “(except as otherwise provided in such regulations)” before “be taken” and inserted “(or the remaining taxable years where there is a stated future life of less than 10 taxable years)” after “10 taxable years”. - § 447: Pub. L. 95–600, § 703(d), substituted “preproductive period expenses” for “preproductive expenses”. - § 447: Pub. L. 95–600, § 351(a), added subsec. (h). ## § 457: Deferred compensation plans of State and local governments and tax-exempt organizations - Enacted 26 U.S.C. § 457. ## § 458: Magazines, paperbacks, and records returned after the close of the taxable year - Enacted 26 U.S.C. § 458. ## § 464: Limitations on deductions for certain farming expenses - § 464(c): Pub. L. 95–600 substituted in subpar. (E) “(or a spouse of any such member)” for “(within the meaning of section 267(c)(4))” and provided that for purposes of subpar. (E) the term “family” has the meaning given to such term by section 267(c)(4). ## § 465: Deductions limited to amount at risk - § 465: Pub. L. 95–600, § 201(c)(1), substituted “Deductions limited to amount at risk” for “Deductions limited to amount at risk in case of certain activities” in section catchline. - § 465(a): Pub. L. 95–600, § 202, redesignated existing provisions as par. (1), substituted provisions relating to limitations with respect to an individual, an electing small business corporation defined under section 1371(b) of this title, and a corporation meeting the stock ownership requirements of section 542(a)(2) of this title and the rules of section 318 of this title, for provisions relating to limitations with respect to a taxpayer other than a corporation which is neither an electing small business corporation defined under section 1371(b) of this title, nor a personal holding company defined under section 542 of this title, and added par. (2). - § 465(c)(3): Pub. L. 95–600, § 201(a), added par. (3). - § 465(d): Pub. L. 95–600, § 701(k)(2), substituted “(determined without regard to the first sentence of subsection (a))” for “(determined without regard to this section)”. - § 465(e): Pub. L. 95–600, § 203, added subsec. (e). ## § 501: Exemption from tax on corporations, certain trusts, etc. - § 501(c)(20): Pub. L. 95–600, § 703(b)(2), substituted “this paragraph” for “section 501(c)(20)”. - § 501(g), § 501(i): Pub. L. 95–600, § 703(g)(2)(B), redesignated subsec. (g), which was added by section 2(a) of Pub. L. 94–568, as subsec. (i). Former subsec. (i), relating to cross reference, redesignated (j). - § 501(i), § 501(j): Pub. L. 95–600, § 703(g)(2)(A), amended Pub. L. 95–600, § 2(a). See 1976 Amendment note below. ## § 511: Imposition of tax on unrelated business income of charitable, etc., organizations - § 511(a)(1): Pub. L. 95–600, § 301(b)(5)(A), substituted “a tax” for “a normal tax and a surtax”. - § 511(a)(2): Pub. L. 95–600, § 301(b)(5)(B), substituted “tax” for “taxes” wherever appearing. - § 511: Pub. L. 95–600, § 421(e)(3), substituted provisions relating to organizations taxable at corporate rates and organizations taxable as trusts, for provisions relating to imposition of the tax imposed by section 56 of this title to an organization subject to tax under this section for tax preferences computed in unrelated business taxable income. ## § 527: Political organizations - § 527(b): Pub. L. 95–600 substituted “Such tax shall be computed by multiplying the political organization taxable income by the highest rate of tax specified in section 11(b)” for “Such tax shall consist of a normal tax and a surtax computed as provided in section 11 as though the political organization were a corporation and as though the political organization taxable income were the taxable income referred to in section 11” and struck out provision that for purposes of this subsection, the surtax exemption provided by section 11(d) not be allowed. ## § 528: Certain homeowners associations - § 528(b): Pub. L. 95–600, § 301(b)(7), substituted “Such tax shall be computed by multiplying the homeowners association taxable income by the highest rate of tax specified in section 11(b)” for “Such tax shall consist of a normal tax and a surtax computed as provided in section 11 as though the homeowners association were a corporation and as though the homeowners association taxable income were the taxable income referred to in section 11” and struck out provision that for purposes of this subsection, the surtax exemption provided by section 11(d) not be allowed. - § 528(b): Pub. L. 95–600, § 403(c)(2), substituted provision related to amount being determined according to section 1201(a) for provision requiring an amount of 30 percent. - § 528(c)(2): Pub. L. 95–600, § 701(n)(1), substituted “by individuals for residences” for “as residences”. ## § 537: Reasonable needs of the business - § 537(b)(4), § 537(b)(5): Pub. L. 95–600 added par. (4) and redesignated former par. (4) as (5). ## § 642: Special rules for credits and deductions - § 642(i), § 642: Pub. L. 95–600 redesignated subsecs. (j) and (k) as (i) and (j), respectively. Former subsec. (i), which did not allow estates or trusts the deduction for contributions to candidates for public office provided by section 218, was struck out. ## § 665: Definitions applicable to subpart D - § 665(d): Pub. L. 95–600 designated existing provisions as par. (1), defined “taxes imposed on the trust” to mean imposition of taxes without regard to subpart A of part IV of subchapter (A), and added par. (2). ## § 666: Accumulation distribution allocated to preceding years - § 666(b): Pub. L. 95–600 inserted “(other than the tax imposed by section 55)” after “equal to the taxes”. ## § 667: Treatment of amounts deemed distributed by trust in preceding years - § 667(b)(1): Pub. L. 95–600, § 701(q)(1)(C), inserted in last sentence “(other than the amount of taxes described in section 665(d)(2))” after “taxes”. - § 667(b)(6): Pub. L. 95–600, § 702(o)(1), added par. (6). - § 667(d): Pub. L. 95–600, § 701(q)(1)(B), added subsec. (d). - § 667(e): Pub. L. 95–600, § 701(r)(1), added subsec. (e). ## § 691: Recipients of income in respect of decedents - § 691(c)(4): Pub. L. 95–600 added par. (4). ## § 704: Partner’s distributive share - § 704(d): Pub. L. 95–600 struck out provisions relating to adjusted basis of a partner’s interest. ## § 736: Payments to a retiring partner or a deceased partner’s successor in interest - § 736: Pub. L. 95–600 added subsec. (c). ## § 751: Unrealized receivables and inventory items - § 751(e): Pub. L. 95–600 added subsec. (e). ## § 835: Election by reciprocal - § 835(c)(1): Pub. L. 95–600 substituted “the tax imposed by section 11” for “the taxes imposed by section 11(b) and (c)”. ## § 851: Definition of regulated investment company - § 851(b): Pub. L. 95–600 required that for purposes of pars. (2) and (3), amounts excludable from gross income under section 103(a)(1) shall be treated as included in gross income. ## § 852: Taxation of regulated investment companies and their shareholders - § 852(b)(1): Pub. L. 95–600, § 301(b)(11), substituted “a tax” for “a normal tax and surtax”. - § 852(b)(3)(C): Pub. L. 95–600, § 362(c), inserted “, except that, if there is an increase in the excess described in subparagraph (A) of this paragraph for such year which results from a determination (as defined in section 860(e)), such designation may be made with respect to such increase at any time before the expiration of 120 days after the date of such determination” after “amount so designated”. - § 852(b)(4): Pub. L. 95–600, § 701(s)(2), designated first sentence, including subpars. (A) and (B), as subpar. (A), cls. (i) and (ii); added subpar. (A) heading and substituted “shall, to the extent of the amount described in clause (i), be treated as a long-term capital loss” for “shall, to the extent of the amount described in subparagraph (A) of this paragraph, be treated as loss from the sale or exchange of a capital asset held for more than 1 year”; added subpar. (B); and designated second sentence as subpar. (C). ## § 856: Definition of real estate investment trust - § 856(c)(2)(H): Pub. L. 95–600, § 363(a)(1), added subpar. (H). - § 856(c)(3)(D): Pub. L. 95–600, § 701(t)(2), inserted “(other than gain from prohibited transactions)” after “on, and gain”. - § 856(c)(3)(H): Pub. L. 95–600, § 363(a)(2), added subpar. (H). - § 856(c)(4)(B): Pub. L. 95–600, § 363(a)(3), substituted “property in a transaction which is a prohibited transaction” for “section 1221(1) property (other than foreclosure property)”. - § 856(e)(3): Pub. L. 95–600, § 363(c), substituted “the Secretary may grant one or more extensions of the grace period for such property” for “the Secretary may extend the grace period for such property” and “shall not extend the grace period beyond the date which is 6 years after the date such trust acquired such property” for “shall be for a period of not more than one year, and not more than two extensions shall be granted with respect to any property”. ## § 857: Taxation of real estate investment trusts and their beneficiaries - § 857(b)(1): Pub. L. 95–600, § 301(b)(12), substituted “a tax” for “a normal tax and surtax”. - § 857(b)(3)(A): Pub. L. 95–600, § 403(c)(3), substituted “a tax determined at the rate provided in section 1201(a) on” for “a tax of 30 percent of”. - § 857(b)(3)(C): Pub. L. 95–600, § 362(d)(3), substituted “section 860(e)” for “section 859(c)”. - § 857(b)(6)(C), § 857(b)(6)(D), § 857(b)(6)(E): Pub. L. 95–600, § 363(b), added subpars. (C) to (E). ## § 859: Adoption of annual accounting period - § 859: Pub. L. 95–600, § 701(t)(1), designated existing provisions as par. (1), substituted “change to any accounting period” for “change to or adopt any annual accounting period”, and added par. (2) and provision for nonapplicability of par. (2) to a real estate investment trust for any taxable year beginning on or before Oct. 4, 1976. ## § 860: Deduction for deficiency dividends - Enacted 26 U.S.C. § 860. ## § 861: Income from sources within the United States - § 861(a)(1): Pub. L. 95–600, § 540(a), designated existing provisions as cl. (i) and added cl. (ii). - § 861: Pub. L. 95–600, § 370(a), added subsec. (f). ## § 871: Tax on nonresident alien individuals - § 871(b)(1): Pub. L. 95–600, §§ 401(b)(3), 421(e)(4), substituted “section 1, section 55, or 402(e)(1)” for “section 1, 402(e)(1), or 1201(b)”. ## § 877: Expatriation to avoid tax - § 877(b): Pub. L. 95–600 substituted “section 1, section 55,” for “section 1”. ## § 882: Tax on income of foreign corporations connected with United States business - § 882(a): Pub. L. 95–600 substituted in subsec. (a) heading “Imposition of tax” for “Normal tax and surtax” and in par. (1) heading “In general” for “Imposition of tax”. ## § 901: Taxes of foreign countries and of possessions of United States - § 901(g)(1): Pub. L. 95–600, § 701(u)(1)(A), inserted provisions prohibiting a deduction for any tax of a foreign country or possession of the United States which is paid or accrued with respect to any distribution from a corporation if a dividends received deduction is allowable with respect to that distribution from a corporation under part VIII of subchapter B. - § 901(g)(2): Pub. L. 95–600, § 701(u)(1)(B), inserted provision relating to application of section 957(c) of this title. ## § 904: Limitation on credit - § 904(b)(2): Pub. L. 95–600, §§ 403(c)(4)(A), 701(u)(2)(A), (3)(A), in subpar. (A) substituted “this section” for “subsection (a)”, “the rate differential portion” for “three eighths” wherever appearing, and “for purposes of determining taxable income from sources without the United States, any net capital loss (and any amount which is a short term capital loss under section 1212(a))” for “any net capital loss”. - § 904(b)(3): Pub. L. 95–600, §§ 403(c)(4)(B), 701(u)(2)(B), (C), as amended by Pub. L. 96–222, § 104(a)(3)(D)(ii), substituted “There” for “For purposes of this paragraph, there”, added subpar. (D), redesignated former subpar. (D), relating to section 1231 gains, as subpar. (E), and added another subpar. (E), relating to rate differential portion. See 1980 Amendment note above. - § 904(f)(2)(A): Pub. L. 95–600, § 701(u)(4)(A), struck out provision relating to capital loss carrybacks and carryovers. - § 904(f)(4): Pub. L. 95–600, § 701(u)(4)(B), (8)(C), substituted in introductory provisions “In making the separate computation under this subsection with respect to foreign oil related income which is required by section 907(b)” for “In the case of a corporation to which section 907(b)(1) applies” and in subpar. (A) struck out provision relating to capital loss carrybacks and carryovers. - § 904(f)(5): Pub. L. 95–600, § 701(q)(2), added par. (5). - § 904(h): Pub. L. 95–600, § 421(e)(6), designated existing provisions as par. (1) and added par. (2). ## § 907: Special rules in case of foreign oil and gas income - § 907(a)(2): Pub. L. 95–600, §§ 301(b)(14), 701(u)(8)(A), designated existing provisions as subpar. (A), inserted applicability to corporations and generally reworked applicable formula, and added subpar. (B). - § 907(b): Pub. L. 95–600, § 701(u)(8)(B), substituted provisions relating to applicability of section 904 separately to foreign oil related income and other taxable income for provisions relating to applicability of section 904 to corporations and other taxpayers. ## § 911: Citizens or residents of the United States living abroad - § 911(a): Pub. L. 95–600, § 701(u)(10)(A), inserted provisions setting forth formula for determining amount of reduction of taxes, and struck out provisions relating to the credit against taxes. - § 911(c): Pub. L. 95–600, § 703(e), redesignated former par. (8) as (7). Such par. (8) was subsequently repealed by section 202(e) of Pub. L. 95–615 without taking into account the redesignation of par. (8) as (7) by Pub. L. 95–600. See 1978 Amendment note for subsec. (c)(8) below. - § 911(d)(1): Pub. L. 95–600, § 401(b)(4), struck out provisions respecting applicability of section 1201 of this title. ## § 962: Election by individuals to be subject to tax at corporate rates - § 962(c): Pub. L. 95–600 substituted provisions relating to the pro ration of each section 11 bracket amount for provisions relating to the surtax exemption. ## § 995: Taxation of DISC income to shareholders - § 995(b)(1): Pub. L. 95–600, § 703(i)(1), (2), substituted in subpar. (G) “subsection (d)” for “subsection (D)”, and in provisions following subpar. (G) “income” for “gross income (taxable income in the case of subparagraph (D))” and “subparagraph (G)” for “subparagraph (E)”. - § 995(c)(1): Pub. L. 95–600, § 701(u)(12)(B), inserted provision relating to application of subpar. (C). ## § 996: Rules for allocation in the case of distributions and losses - § 996(a)(2): Pub. L. 95–600 substituted “section (b)(1)(G)” for “section (b)(1)(E)”. ## § 999: Reports by taxpayers; determinations - § 999(c)(1): Pub. L. 95–600, § 703(h)(2), substituted “995(b)(1)(F)(ii)” for “995(b)(3)”. - § 999(c)(2): Pub. L. 95–600, § 703(h)(3), substituted “995(b)(1)(F)(ii)” for “995(b)(1)(D)(ii)”. ## § 1001: Determination of amount of and recognition of gain or loss - § 1001(e)(1): Pub. L. 95–600 inserted reference to section 1023. See Repeals note below. ## § 1014: Basis of property acquired from a decedent - § 1014(a): Pub. L. 95–600, § 702(c)(1)(A), designated existing provisions as pars. (1) and (2) and added par. (3). - § 1014(d): Pub. L. 95–600, § 515(1), substituted “December 31, 1979” for “December 31, 1976” in heading and text. ## § 1016: Adjustments to basis - § 1016(a)(21): Pub. L. 95–600, § 601(b)(3), as amended by Pub. L. 96–222, § 106(a)(3), added par. (21) relating to an adjustment to the extent provided in section 1395. - § 1016(a)(23): Pub. L. 95–600, § 702(r)(3), which redesignated par. (23) as (21), was repealed by Pub. L. 96–222, § 107(a)(2)(C), and Pub. L. 96–223, § 401(a). See Repeals note below. - § 1016(a)(23): Pub. L. 95–600, § 515(2), substituted “December 31, 1979” for “December 31, 1976”. ## § 1033: Involuntary conversions - § 1033(a)(2)(A)(ii): Pub. L. 95–600, § 703(j)(5), substituted “subsection (b)” for “subsection (c)”. - § 1033(f), § 1033(g): Pub. L. 95–600, § 542(a), added subsec. (f) and redesignated former subsecs. (f) and (g) as (g) and (h), respectively. - § 1033(h): Pub. L. 95–600, §§ 404(c)(4), 542(a), redesignated subsec. (g) as (h) and substituted in par. (3) “one-time exclusion” for “exclusion” and “age 55” for “age 65”. ## § 1038: Certain reacquisitions of real property - § 1038(e)(1): Pub. L. 95–600, § 404(c)(6), substituted “relating to one-time exclusion of gain from sale of principal residence by individual who has attained age 55” for “relating to gain from sale or exchange of residence of an individual who has attained age 65”. - § 1038(e)(1): Pub. L. 95–600, § 405(c)(3), which directed the amendment of section 1083(e)(1)(B) of this title by substituting “(relating to rollover of gain on sale of principal residence)” for “(relating to sale or exchange of residence)”, was executed to this section to reflect the probable intent of Congress because section 1083 does not contain a subsec. (e)(1)(B). ## § 1040: Transfer of certain farm, etc., real property - § 1040(a): Pub. L. 95–600 substituted “chapter 11 (determined without regard to section 2032A)” for “chapter 11”. ## § 1212: Capital loss carrybacks and carryovers - § 1212(a)(1)(C): Pub. L. 95–600 substituted “succeeding the loss year” for “exceeding the loss year”. ## § 1223: Holding period of property - § 1223(11): Pub. L. 95–600 inserted reference to determination of basis of property under section 1023. See Repeals note below. ## § 1231: Property used in the trade or business and involuntary conversions - § 1231(b)(1)(D): Pub. L. 95–600 added subpar. (D). ## § 1239: Gain from sale of depreciable property between certain related taxpayers - § 1239(a): Pub. L. 95–600 substituted “of a character which is subject to the allowance for depreciation provided in section 167” for “subject to the allowance for depreciation provided in section 167”. ## § 1244: Losses on small business stock - § 1244(b): Pub. L. 95–600, § 345(b), substituted in par. (1) “$50,000” for “$25,000” and in par. (2) “$100,000” for “$50,000”. - § 1244(c): Pub. L. 95–600, § 345(a), (c), among other changes, substituted provisions permitting a corporation to issue common stock under the provisions of this section without a written plan for provisions requiring that a written plan to issue section 1244 stock must be adopted by the issuing corporation and increased the amount of section 1244 stock that a qualified small business corporation may issue from $500,000 to $1,000,000. - § 1244(d)(2): Pub. L. 95–600, § 345(d), substituted “subparagraph (C)” for “subparagraph (E)” and “paragraphs (1)(C) and (3)(A)” for “paragraphs (1)(E) and (2)(A)”. ## § 1245: Gain from dispositions of certain depreciable property - § 1245(a)(2): Pub. L. 95–600, § 701(f)(3)(A), struck out from the listed sections in subpar. (D) reference to 191 and inserted “(in the case of property described in paragraph (3)(C))” before “191” in two places in next to last sentence. - § 1245(a)(3)(D): Pub. L. 95–600, § 701(f)(3)(B), struck out reference to section 191. - § 1245(a): Pub. L. 95–600, § 701(w)(2), inserted “attributable to periods after December 31, 1975,” after “for the depreciation”, “incurred after December 31, 1975,” after “allowable for losses”, and “described in clause (i)” after “of the amounts”. - § 1245(a): Pub. L. 95–600, § 701(w)(1), struck out provisions relating to the aggregate of the amounts treated as ordinary income. ## § 1250: Gain from dispositions of certain depreciable realty - § 1250(b)(3): Pub. L. 95–600, § 701(f)(3)(C), struck out reference to section 191. - § 1250(b)(4): Pub. L. 95–600, § 701(f)(3)(E), inserted reference to amortization deduction, amortization adjustments, and to section 191 in two places. - § 1250(d)(7): Pub. L. 95–600, § 405(c)(4), substituted “relating to rollover of gain on sale of principal residence” for “relating to sale or exchange of residence”. - § 1250(d)(7): Pub. L. 95–600, § 404(c)(7), inserted provisions relating to a one-time exclusion and principal residence and substituted “55” for “65”. ## § 1255: Gain from disposition of section 126 property - Enacted 26 U.S.C. § 1255. ## § 1351: Treatment of recoveries of foreign expropriation losses - § 1351(d)(4): Pub. L. 95–600 substituted “the rates of tax specified in section 11(b)” for “the normal tax rate provided by section 11(b) and the surtax rate provided by section 11(c) which are in effect”. ## § 1388: Definitions; special rules - § 1388(j): Pub. L. 95–600 added subsec. (j). ## § 1402: Definitions - § 1402(a): Pub. L. 95–600, § 703(j)(8)(A), substituted “subsection (h)” for “subsection (i)” wherever appearing in last par. - § 1402(c)(6): Pub. L. 95–600, § 703(j)(8)(B), substituted “subsection (g)” for “subsection (h)”. ## § 1504: Definitions - § 1504(a): Pub. L. 95–600 substituted “(within the meaning for section 409A(l)) while such securities are held under an ESOP, or qualifying employer securities (within the meaning of section 4975(e)(8)) while such securities are held under a leveraged employee stock ownership plan which meets the requirements of section 4975(e)(7)” for “within the meaning of section 301(d)(9)(A) of the Tax Reduction Act of 1975, or qualifying employer securities within the meaning of section 4975(e)(8) while such securities are held under an employee stock ownership plan which meets the requirements of section 301(d) of such Act or section 4975(e)(7), respectively”. ## § 1561: Limitation on accumulated earnings credit in the case of certain controlled corporations - § 1561(a): Pub. L. 95–600, § 301(b)(19)(A), in par. (1) substituted “amounts in each taxable income bracket in the tax table in section 11(b) which do not aggregate more than the maximum amount in such bracket to which a corporation is not a component member of a controlled group is entitled” for “the surtax exemption under section 11(d)” and in provisions following par. (3) substituted “amounts” for “amount” in two places and struck out provision that in applying section 11(b)(2), the first $25,000 of taxable income and the second $25,000 of taxable income each be allocated among the component members of a controlled group of corporations in the same manner as the surtax exemption is allocated. - § 1561(b): Pub. L. 95–600, § 301(b)(19)(B), substituted “the amount in each taxable income bracket in the tax table in section 11(b)” for “the surtax exemption under section 11(d)”. - § 1561(b): Pub. L. 95–600, § 703(j)(7), substituted “804(a)(3)” for “804(a)(4)”. ## § 2001: Imposition and rate of tax - § 2001(e): Pub. L. 95–600 added subsec. (e). ## § 2032A: Valuation of certain farm, etc., real property - § 2032A(b)(1): Pub. L. 95–600, § 702(d)(1), inserted “which was acquired from or passed from the decedent to a qualified heir of the decedent and” after “located in the United States”. - § 2032A(c)(6): Pub. L. 95–600, § 702(d)(5)(A), inserted “unless the heir has furnished bond which meets the requirements of subsection (e)(11)” after “respect to his interest”. - § 2032A(e)(9): Pub. L. 95–600, § 702(d)(2), added par. (9). - § 2032A(e)(10): Pub. L. 95–600, § 702(d)(4), added par. (10). - § 2032A(e)(11): Pub. L. 95–600, § 702(d)(5)(B), added par. (11). ## § 2035: Adjustments for certain gifts made within 3 years of decedent’s death - § 2035(b): Pub. L. 95–600 substituted in par. (2) provisions relating to gifts for which donee was not required by section 6019 to file gift tax returns for provisions relating to gifts excludable in computing taxable gifts by reason of section 2503(b) and inserted provisions following par. (2) relating to inapplicability of par. (2) to transfers respecting life insurance policies. ## § 2036: Transfers with retained life estate - § 2036(a): Pub. L. 95–600, § 702(i)(2), struck out provision following par. (2) relating to the retention of voting rights in retained stock. - § 2036(b), § 2036(c): Pub. L. 95–600, § 702(i)(1), added subsec. (b) and redesignated former subsec. (b) as (c). ## § 2039: Annuities - § 2039: Pub. L. 95–600, § 142(a), substituted “(other than an amount described in subsection (f))” for “(other than a lump sum distribution described in section 402(e)(4), determined without regard to the next to the last sentence of section 402(e)(4)(A))” in provisions preceding par. (1). - § 2039: Pub. L. 95–600, §§ 156(c)(4), 702(j)(1), inserted “section 403(b)(8) (but only to the extent such contribution is attributed to a distribution from a contract described in subsection (c)(3)),” after “403(a)(4)” and inserted “or 220” after “section 219” wherever appearing in provisions following par. (3). - § 2039: Pub. L. 95–600, § 142(b), added subsec. (f). ## § 2040: Joint interests - § 2040: Pub. L. 95–600, § 511(a), added subsec. (c). - § 2040: Pub. L. 95–600, § 702(k)(2), added subsecs. (d) and (e). ## § 2051: Definition of taxable estate - § 2051: Pub. L. 95–600 struck out “exemption and” after “gross estate the”. ## § 2055: Transfers for public, charitable, and religious uses - § 2055(e)(3): Pub. L. 95–600 inserted “or (B)” before “of paragraph (2)”, substituted “on or before December 31, 1978” for “on or before December 31, 1977” wherever appearing and “which meets the requirements of such subparagraph (a) or (B) (as the case may be),” for “which is a charitable remainder annuity trust, a charitable remainder unitrust (described in section 664), or a pooled income fund (described in section 642(c)(5)),”. ## § 2056: Bequests, etc., to surviving spouse - § 2056(c)(1): Pub. L. 95–600 inserted in cl. (ii) “required to be included in a gift tax return” after “with respect to any gift” and inserted following cl. (ii) “For purposes of this subparagraph, a gift which is includible in the gross estate of the donor by reason of section 2035 shall not be taken into account”. ## § 2204: Discharge of fiduciary from personal liability - § 2204(d): Pub. L. 95–600 added subsec. (d). ## § 2503: Taxable gifts - § 2503(d): Pub. L. 95–600 added subsec. (d). ## § 2518: Disclaimers - § 2518(b)(4): Pub. L. 95–600 inserted provision relating to spouse of decedent. ## § 2602: Amount of tax - § 2602: Pub. L. 95–600, § 702(h)(2), inserted “, as modified by section 2001(e)” after “within the meaning of section 2001(b)”. - § 2602: Pub. L. 95–600, § 702(n)(4)(A), inserted “(or at the same time as the death of a beneficiary of the trust assigned to a higher generation than such deemed transferor)” after “such deemed transferor”. - § 2602: Pub. L. 95–600, § 702(n)(4)(B), inserted “(or beneficiary)” after “the deemed transferor”. ## § 2613: Skip person and non-skip person defined - § 2613(b): Pub. L. 95–600, § 702(n)(3), substituted “a present interest and a present power” for “an interest and a power” and “present interest or present power” for “interest or power” wherever appearing. - § 2613: Pub. L. 95–600, § 702(n)(2), inserted provisions relating to powers of independent trustees and definition of a related or subordinate trustee. ## § 3121: Definitions - § 3121(a)(18): Pub. L. 95–600 added par. (18). ## § 3306: Definitions - § 3306(b)(13): Pub. L. 95–600 added par. (13). ## § 3401: Definitions - § 3401(a)(18): Pub. L. 95–600 added par. (18) relating to remuneration for which a corresponding deduction is allowable under section 913. ## § 3402: Income tax collected at source - § 3402(a): Pub. L. 95–600, § 101(e)(1), substituted “With respect to wages paid after December 31, 1978, the tables so prescribed shall be the same as the tables prescribed under this subsection which were in effect on January 1, 1975, except that such tables shall be modified to the extent necessary to reflect the amendments made by sections 101 and 102 of the Tax Reduction and Simplification Act of 1977 and the amendments made by section 101 of the Revenue Act of 1978.” for “With respect to wages paid after May 31, 1977, and before January 1, 1979, the tables so prescribed shall be the same as the tables prescribed under this subsection which were in effect on January 1, 1976; except that such tables shall be modified to the extent necessary so that, had they been in effect for all of 1977, they would reflect the full year effect of the amendments made by sections 101 and 102 of the Tax Reduction and Simplification Act of 1977. With respect to wages paid after December 31, 1978, the tables so prescribed shall be the same as the tables prescribed under this subsection which were in effect on January 1, 1975, except that such tables shall be modified to the extent necessary to reflect the amendments made by sections 101 and 102 of the Tax Reduction and Simplification Act of 1977.” - § 3402(b)(1): Pub. L. 95–600, § 102(c)(1), increased the amounts set out in the table for one withholding exemption for each of the payroll period categories from $14.40, $28.80, $31.30, $62.50, $187.50, $375.00, $750.00 and $2.10 to $19.23, $38.46, $41.66, $83.33, $250.00, $500.00, $1,000.00 and $2.74, respectively. - § 3402(m)(1): Pub. L. 95–600, §§ 101(e)(2), 102(c)(2), substituted “$1,000” for “$750”, “$3,400” for “$3,200” and “$2,300” for “$2,200”. - § 3402(r): Pub. L. 95–600, § 601(b)(2), added subsec. (r). ## § 4041: Imposition of tax - § 4041(h)(2): Pub. L. 95–600, § 703(l)(1), substituted “term ‘aircraft museum’ means” for “term ‘aircraft’ means”. - § 4041(i), § 4041(j): Pub. L. 95–600, § 703(l)(2), redesignated subsec. (i), relating to sales by United States, or by any agency or instrumentality of United States, as (j). ## § 4221: Certain tax-free sales - § 4221(c): Pub. L. 95–600 substituted “4063(b), 4063(e),” for “4063(b),”. ## § 4222: Registration - § 4222(d): Pub. L. 95–600 substituted “4063(b), 4063(e),” for “4063(b),”. ## § 4402: Exemptions - § 4402(2): Pub. L. 95–600 substituted “(as defined in section 4462 as in effect for years beginning before July 1, 1980)” for “with respect to which an occupational tax is imposed by section 4461” and “(as so in effect), or” for “if an occupational tax is imposed with respect to such device by section 4461, or”. ## § 4901: Payment of tax - § 4901(a): Pub. L. 95–600 struck out “or 4461(a)(1) (coin-operated gaming devices)” after “(wagering)”. ## § 4911: Tax on excess expenditures to influence legislation - § 4911(c)(2): Pub. L. 95–600 substituted “exempt purpose expenditures” for “proposed expenditures” in heading of table. ## § 4940: Excise tax based on investment income - § 4940(a): Pub. L. 95–600 substituted “2 percent” for “4 percent”. ## § 4942: Taxes on failure to distribute income - § 4942(j): Pub. L. 95–600 added par. (6). ## § 4973: Tax on excess contributions to certain tax-favored accounts and annuities - § 4973(b)(1)(A): Pub. L. 95–600, § 156(c)(3), inserted reference to section 403(b)(8). - § 4973(b)(2): Pub. L. 95–600, § 157(b)(3), substituted “reduced by the sum of—” for “reduced by the excess (if any) of”, struck out “the maximum amount allowable as a deduction under section 219 or 220 for the taxable year over the amount contributed to the accounts or for the annuities or bonds for the taxable years and reduced by the sum of the distributions out of the account (for the taxable year and all prior taxable years) which were included in the gross income of the payee under section 408(d)(1)” in provision preceding par. (A), and added subpars. (A), (B), and (C). - § 4973(b): Pub. L. 95–600, §§ 157(j)(1), 701(aa)(1), struck out in last sentence “if such distribution consists of an excess contribution solely because of employer contributions to a plan or contract described in section 219(b)(2) or by reason of the application of section 219(b)(1) (without regard to the $1,500 limitation) or section 220(b)(1) (without regard to the $1,750 limitation) and only if such distribution does not exceed the excess of $1,500 or $1,750 if applicable, over the amount described in paragraph (1)(B)” after “as an amount not contributed”. - § 4973(c)(1): Pub. L. 95–600, § 156(c)(5), inserted “(other than a rollover contribution described in section 403(b)(8), 408(d)(3)(A)(iii), or 409(d)(3)(C))” after “account”. ## § 4974: Excise tax on certain accumulations in qualified retirement plans - § 4974(c): Pub. L. 95–600 added subsec. (c). ## § 4975: Tax on prohibited transactions - § 4975(d)(3): Pub. L. 95–600, § 141(f)(6), substituted “leveraged employee” for “employee”. - § 4975(e)(7): Pub. L. 95–600, § 141(f)(5), substituted in heading “Leveraged employee” for “Employee”, and in text, “leveraged employee” for “employee” and inserted provision that a plan not be treated as a leveraged employee stock ownership plan unless it meet the requirements of section 409A(e) and (h). ## § 6001: Notice or regulations requiring records, statements, and special returns - § 6001: Pub. L. 95–600 inserted provision at end relating to only records which an employer shall be required to keep in connection with charged tips. ## § 6012: Persons required to make returns of income - § 6012(a)(1)(A): Pub. L. 95–600, §§ 101(c), 102(b)(1), substituted in provision preceding cl. (i), “$1,000” for “$750”, in cl. (i), “$3,050” for “$2,950” and “$3,300” for “$3,050”, in cl. (ii), “$4,150” for “$3,950” and “$4,400” for “$4,150”, and in cl. (iii), “$4,900” for “$4,700” and “$5,400” for “$4,900”. - § 6012(a)(8): Pub. L. 95–600, § 105(d), added par. (8). - § 6012(c): Pub. L. 95–600, § 404(c)(8), inserted provisions relating to a one-time exclusion and principal residence, and substituted “55” for “65”. ## § 6013: Joint returns of income tax by husband and wife - § 6013(b)(3)(A): Pub. L. 95–600, § 102(b)(2), increased the exemptions wherever appearing from $750 and $1500 to $1,000 and $2,000, respectively, with respect to taxable years beginning after Dec. 31, 1978. - § 6013(g)(1): Pub. L. 95–600, § 701(u)(15)(A), amended par. (1) generally, designating existing provisions as introductory material and par. (A), and in such par. (A) inserting reference to chapter 5, and adding par. (2). - § 6013(g)(2): Pub. L. 95–600, § 701(u)(16)(A), substituted “who, at the close of the taxable year for which an election under this subsection was made,” for “who, at the time an election was made under this subsection,”. - § 6013(g)(5): Pub. L. 95–600, § 701(u)(15)(B), substituted “chapters 1 and 5” for “chapter 1”. - § 6013(h)(1): Pub. L. 95–600, § 701(u)(15)(C), substituted “chapters 1 and 5” for “chapter 1” and inserted provision relating to chapter 24 of this title. ## § 6041: Information at source - § 6041(c), § 6041(d): Pub. L. 95–600 added subsec. (d) and redesignated subsec. (d) as (c). ## § 6050B: Returns relating to unemployment compensation - Enacted 26 U.S.C. § 6050B. ## § 6051: Receipts for employees - § 6051(a)(7): Pub. L. 95–600 added par. (7). ## § 6058: Information required in connection with certain plans of deferred compensation - § 6058(c): Pub. L. 95–600 substituted “an individual retirement plan” for “an individual retirement account or annuity described in section 408”. - § 6058(d), § 6058(e), § 6058(f): Pub. L. 95–600 added subsecs. (d) and (e) and redesignated former subsec. (d) as (f). ## § 6103: Confidentiality and disclosure of returns and return information - § 6103(a)(3): Pub. L. 95–600, § 701(bb)(1)(B), inserted “, subsection (m)(4)(B),” after “subsection (e)(1)(D)(iii)”. - § 6103(d): Pub. L. 95–600, § 701(bb)(2), inserted “31,” after “21, 23, 24,”. - § 6103(h)(2): Pub. L. 95–600, § 503(a), substituted “In a matter involving tax administration, a” for “A”, “officers and employees” for “attorneys” after “open to inspection by or disclosure to”, inserted “any proceeding before a Federal grand jury or” after “for their use in”, and struck out “in a matter involving tax administration” after “or any Federal or State court”. - § 6103(h)(2)(A): Pub. L. 95–600, § 503(b)(1), substituted “the proceeding” for “such proceeding” and inserted “or the proceeding arose out of, or in connection with, determining the taxpayer’s civil or criminal liability, or the collection of such civil liability in respect of any tax imposed under this title”. - § 6103(h)(4)(A): Pub. L. 95–600, § 503(b)(2), substituted “the taxpayer is a party to the proceeding, or the proceeding arose out of, or in connection with, determining the taxpayer’s civil or criminal liability, or the collection of such civil liability, in respect of any tax imposed under this title” for “if the taxpayer is a party to such proceeding”. - § 6103(i)(2), § 6103(i)(3): Pub. L. 95–600, § 701(bb)(3), (4), inserted provisions relating to name and address of taxpayer not being treated as return information. - § 6103(k)(4): Pub. L. 95–600, § 701(bb)(5), struck out reference to income tax in heading and inserted provisions relating to gift and estate tax and exchange of tax information. - § 6103(m): Pub. L. 95–600, § 701(bb)(1)(A), reenacted pars. (1) to (3) without change and added par. (4). ## § 6104: Publicity of information required from certain exempt organizations and certain trusts - § 6104(a)(2): Pub. L. 95–600 substituted “Section 6103(f)” for “Section 6103(d)”. ## § 6166: Extension of time for payment of estate tax where estate consists largely of interest in closely held business - § 6166(b)(2)(D): Pub. L. 95–600, § 512(a), added subpar. (D). - § 6166(b)(7): Pub. L. 95–600, § 512(b), added par. (7). ## § 6212: Notice of deficiency - § 6212(c)(1): Pub. L. 95–600, § 701(t)(3)(C), substituted “same taxable year” for “same taxable years” in two places. - § 6212(c)(2)(C): Pub. L. 95–600, § 405(c)(5), substituted “principal residence” for “personal residence”. ## § 6213: Restrictions applicable to deficiencies; petition to Tax Court - § 6213(b)(3): Pub. L. 95–600 inserted “or refund” after “carryback” in heading, and “or the amount described in section 1341(b)(1)” after “carryback” in text. ## § 6302: Mode or time of collection - § 6302(d): Pub. L. 95–600 added subsec. (d). ## § 6323: Validity and priority against certain persons - § 6323(f)(4): Pub. L. 95–600, § 702(q)(1), in heading substituted “Indexing required with respect to certain real property” for “Index” and in text inserted provisions relating to the validity of a deed, under the laws of the State in which the real property is located, as against a purchaser who does not have actual notice or knowledge of the existence of such deed and provisions relating to the maintenance of an adequate system for the public indexing of Federal tax liens. - § 6323(g)(2)(A): Pub. L. 95–600, § 702(q)(2), inserted reference to real property. ## § 6324A: Special lien for estate tax deferred under section 6166 - § 6324A(b)(2)(B): Pub. L. 95–600, § 702(e)(1)(B), substituted “required interest amount” for “aggregate interest amount”. - § 6324A(d)(5): Pub. L. 95–600, § 702(e)(1)(C), substituted “required interest amount” for “aggregate interest amount”. - § 6324A(e)(2): Pub. L. 95–600, § 702(e)(1)(A), substituted “Required interest amount” for “Aggregate interest amount” in heading and in text “required interest amount”, “over the first 4 years of the deferral period” and “for the payment” for “aggregate interest amount”, “over the deferral period” and “for payment”, respectively. - § 6324A(e)(4): Pub. L. 95–600, § 702(e)(1)(D), substituted “required interest amount” for “aggregate interest amount”. ## § 6324B: Special lien for additional estate tax attributable to farm, etc., valuation - § 6324B(b): Pub. L. 95–600 substituted “qualified real property” for “qualified farm real property”. ## § 6325: Release of lien or discharge of property - § 6325(d)(3): Pub. L. 95–600 added par. (3). ## § 6401: Amounts treated as overpayments - § 6401(b): Pub. L. 95–600 inserted provisions relating to credit to a nonresident alien individual. ## § 6411: Tentative carryback and refund adjustments - § 6411: Pub. L. 95–600, § 504(b)(1)(A), inserted “and refund” after “carryback” in section catchline. - § 6411(d): Pub. L. 95–600, § 504(a), added subsec. (d). ## § 6422: Cross references - § 6422: Pub. L. 95–600 inserted “regulated investment company or” before “real estate investment trust” and substituted “section 860” for “section 859”. ## § 6427: Fuels not used for taxable purposes - § 6427(d): Pub. L. 95–600 struck out “or his delegate” after “Secretary”. ## § 6501: Limitations on assessment and collection - § 6501(e)(3): Pub. L. 95–600, § 701(t)(3)(A), substituted “43, or 44” for “or 43”, which required no change in text in view of the identical amendment by section 4(d)(4) of Pub. L. 95–227. - § 6501(h): Pub. L. 95–600, § 703(n), (p)(2), substituted “section 6213(b)(3)” for “section 6213(b)(2)” and struck out provisions relating to the assessment of a deficiency attributable to the application of a net operating loss carryback. - § 6501(j): Pub. L. 95–600, § 703(n), substituted “section 6213(b)(3)” for “section 6213(b)(2)”. - § 6501(m): Pub. L. 95–600, § 504(b)(3), inserted “and refund” after “tentative carryback”. - § 6501(o): Pub. L. 95–600, § 703(n), substituted “section 6213(b)(3)” for “section 6213(b)(2)”. - § 6501: Pub. L. 95–600, § 212(a), added subsec. (q) relating to special rules for partnership items of Federally registered partnerships. - § 6501: Pub. L. 95–600, § 321(b)(2), added subsec. (q) relating to deficiency attributable to election under section 44B. ## § 6503: Suspension of running of period of limitation - § 6503(j): Pub. L. 95–600, as amended by Pub. L. 96–596, § 2(a)(4)(E) and (F), substituted “in the case of a regulated investment company or a real estate investment trust, see section 860(h)” for “of a real estate investment trust, see section 859(f)”. See Codification note above. ## § 6504: Cross references - § 6504(4): Pub. L. 95–600, § 405(c)(6), substituted “principal residence” for “residence”. - § 6504(6): Pub. L. 95–600, § 703(j)(10), amended directory language of Pub. L. 94–455, § 1901(b)(37)(D). See 1976 Amendment note below. ## § 6511: Limitations on credit or refund - § 6511(d)(2)(A): Pub. L. 95–600, § 703(p)(3), struck out provisions relating to the period of limitations with respect to an overpayment attributable to a net operating loss carryback to any year on account of a certification issued to the taxpayer under section 317 of the Trade Expansion Act of 1962. - § 6511(g), § 6511(h): Pub. L. 95–600, § 212(b)(1), added subsec. (g) and redesignated former subsec. (g) as (h). ## § 6512: Limitations in case of petition to Tax Court - § 6512(b)(2): Pub. L. 95–600 substituted “(c), (d), or (g)” for “(c), or (d)” wherever appearing. ## § 6515: Cross references - § 6515: Pub. L. 95–600 inserted “regulated investment company or” before “real estate investment trust” and substituted “section 860” for “section 859”. Notwithstanding the directory language that the amendment be made to par. (5), the amendment was executed to par. (6) to reflect the probable intent of Congress. ## § 6654: Failure by individual to pay estimated income tax - § 6654(f)(1): Pub. L. 95–600 substituted “section 55 or 56” for “section 56”. ## § 6655: Failure by corporation to pay estimated income tax - § 6655(e): Pub. L. 95–600 struck out provisions relating to the corporation’s temporary estimated tax exemption. ## § 6695: Other assessable penalties with respect to the preparation of tax returns for other persons - § 6695(f): Pub. L. 95–600 inserted provision relating to deposits by a bank. ## § 6698: Failure to file partnership return - Enacted 26 U.S.C. § 6698. ## § 7213: Unauthorized disclosure of information - § 7213(a)(1): Pub. L. 95–600, § 701(bb)(6)(A), inserted “willfully” before “to disclose”. - § 7213(a)(2): Pub. L. 95–600, § 701(bb)(1)(C), (6)(A), inserted provision relating to educational institutions, inserted “willfully” before “to disclose”, and substituted “subsection (d), (l)(6), or (m)(4)(B) of section 6103” for “section 6103(d) or (l)(6)”. - § 7213(a)(3): Pub. L. 95–600, § 701(bb)(6)(B), substituted “thereafter willfully to” for “to thereafter”. - § 7213(a)(4): Pub. L. 95–600, § 701(bb)(6)(C), inserted “willfully” before “to offer”. - § 7213(a)(5): Pub. L. 95–600, § 701(bb)(6)(A), inserted “willfully” before “to disclose”. ## § 7428: Declaratory judgments relating to status and classification of organizations under section 501(c)(3), etc. - § 7428(a): Pub. L. 95–600 inserted provision relating to change in qualification or classification. ## § 7456: Administration of oaths and procurement of testimony - § 7456(a): Pub. L. 95–600, § 502(c), substituted “any judge or commissioner of the Tax Court” for “any judge of the Tax Court” wherever appearing, and “by the judge or commissioner” for “by the judge” after “and signed”. - § 7456(c): Pub. L. 95–600, § 336(b)(1), inserted provision that the chief judge may assign proceedings under sections 7428, 7476, 7477, and 7478 to be heard by the commissioners of the court, and the court may authorize a commissioner to make the decision of the court with respect to such proceedings, subject to such conditions and review as the court may by rule provide. ## § 7463: Disputes involving $50,000 or less - § 7463: Pub. L. 95–600, § 502(a)(2)(A), substituted “$5,000” for “$1,500” in section catchline. - § 7463(a): Pub. L. 95–600, § 502(a)(1), “$5,000 for any one taxable year, in the case of the taxes imposed by subtitle A” for “$1,500 for any one taxable year, in the case of the taxes imposed by subtitle A and chapter 12, or” in par. (1), “$5,000, in the case of the tax imposed by chapter 11, or” for “$1,500 in the case of the tax imposed by chapter 11,” in par. (2), and added par. (3). - § 7463: Pub. L. 95–600, § 502(b), added subsec. (g). ## § 7476: Declaratory judgments relating to qualification of certain retirement plans - § 7476(a): Pub. L. 95–600, § 701(dd)(1), inserted provision relating to revocation of qualification. - § 7476(c), § 7476(d), § 7476: Pub. L. 95–600, § 336(b)(2)(A), redesignated subsecs. (d) and (e) as (c) and (d), respectively. Former subsec. (c), which authorized the chief judge to assign proceedings under this section or section 7428 to be heard by the commissioners of the court, was struck out. ## § 7478: Declaratory judgments relating to status of certain governmental obligations - Enacted 26 U.S.C. § 7478. ## § 7482: Courts of review - § 7482(b)(1): Pub. L. 95–600, § 336(c)(1)(A), substituted “provided in paragraphs (2) and (3)” for “provided in paragraph (2)”. - § 7482(b)(3): Pub. L. 95–600, § 336(c)(1)(B), added par. (3). ## § 7609: Special procedures for third-party summonses - § 7609(c)(1): Pub. L. 95–600 which purported to substitute “6427(f)(2)” for “6427(e)(2)” was not executed in view of the amendment made by Pub. L. 95–599. See below. ## § 7701: Definitions - § 7701(a)(36)(B)(iii): Pub. L. 95–600, § 701(cc)(2), substituted “prepares as a fiduciary a return or claim for refund for any person, or” for “prepares a return or claim for refund for any trust or estate with respect to which he is a fiduciary, or”. - § 7701(a)(37): Pub. L. 95–600, § 157(k)(2), added par. (37).