Pub. L. 96-589 Dec. 24, 1980

94 Stat. 3389 · Changed 42 sections of the Code

Bill H.R. 5043

§ 108 Income from discharge of indebtedness

  • § 108 Pub. L. 96–589 completely revised and expanded provisions by specifying the types of indebtedness and by setting out…

§ 111 Recovery of tax benefit items

  • (d) Pub. L. 96–589 added subsec. (d).

§ 118 Contributions to the capital of a corporation

  • (c) Pub. L. 96–589 designated existing provisions as par. (1) and added par. (2).

§ 140 Cross references to other Acts

  • (a) Pub. L. 96–589 redesignated pars. (2) to (9) as (1) to (8), respectively. Former par. (1), relating to section 1079 of…

§ 302 Distributions in redemption of stock

  • (a) Pub. L. 96–589, § 5(b)(2)(A), struck out reference to par. (4) of subsec. (b).
  • (b)(4) (b)(5) Pub. L. 96–589, § 5(b)(1), (2)(B), redesignated par. (5) as (4) and struck out reference to par. (4) in two places.…

§ 312 Effect on earnings and profits

  • (l) Pub. L. 96–589 added subsec. (l).

§ 351 Transfer to corporation controlled by transferor

  • (a) Pub. L. 96–589, § 5(e)(2), struck out provision that stock or securities issued for services shall not be considered as…
  • (d) Pub. L. 96–589, § 5(e)(1), added subsec. (d). Former subsec. (d) redesignated (e)(1).
  • (e) Pub. L. 96–589, § 5(e)(2), redesignated former subsec. (d) as par. (1) and added par. (2). Former subsec. (e)…
  • (f) Pub. L. 96–589, § 5(e)(1), redesignated former subsec. (e) as (f).

§ 354 Exchanges of stock and securities in certain reorganizations

  • (a)(2) Pub. L. 96–589, § 4(e)(1), redesignated existing pars. (A) and (B) as par. (A)(i), (ii), and added par. (B).
  • (a)(3) Pub. L. 96–589, § 4(e)(1), designated existing provisions as subpar. (A), inserted provisions excluding property to…
  • (b) Pub. L. 96–589, § 4(h)(1), substituted “subparagraph (D) or (G) of section 368(a)(1)” for “section 368(a)(1)(D)”…
  • (c) Pub. L. 96–589, § 6(i)(2), substituted “confirmed under section 1173 of title 11 of the United States Code, or approved…

§ 355 Distribution of stock and securities of a controlled corporation

  • (a)(3) Pub. L. 96–589 designated existing provisions as subpars. (A) and (B) and added subpar. (C).
  • (a)(4) Pub. L. 96–589, § 4(e)(2), designated existing provisions as subpar. (A), substituted “exchange if any property” for…

§ 357 Assumption of liability

  • (c)(2) Pub. L. 96–589 added subpar. (C).

§ 368 Definitions relating to corporate reorganizations

  • (a)(1)(G) Pub. L. 96–589, § 4(a), (h)(3), added subpar. (G).
  • (a)(2)(C) Pub. L. 96–589, § 4(c), inserted provision that a similar rule would apply to a transaction otherwise qualifying under…
  • (a)(2)(D) Pub. L. 96–589, § 4(d), among other changes, inserted reference to par. (1)(G).
  • (a)(3) Pub. L. 96–589, § 4(b), added par. (3).
  • (b) Pub. L. 96–589, § 4(h)(4), substituted “paragraph (1)(A), (1)(B), (1)(C), or (1)(G) of subsection (a) by reason of…

§ 381 Carryovers in certain corporate acquisitions

  • (a) Pub. L. 96–589, § 4(g)(2), inserted provisions that a reorganization shall be treated as meeting the requirements of…
  • (a)(2) Pub. L. 96–589, § 4(g)(1), substituted “subparagraph (A), (C), (D), (F), or (G) of section 368(a)(1)” for “subparagraph…

§ 382 Limitation on net operating loss carryforwards and certain built-in losses following ownership change

  • (b) Pub. L. 96–589 added par. (7).

§ 443 Returns for a period of less than 12 months

  • (e) Pub. L. 96–589 inserted cross reference to section 1398(d)(3)(E) for returns for a period of less than 12 months in the…

§ 542 Definition of personal holding company

  • (c) Pub. L. 96–589, added par. (9).

§ 703 Partnership computations

  • (b) Pub. L. 96–589 inserted reference to section 108(b)(5) and (d)(4).

§ 1017 Discharge of indebtedness

  • § 1017 Pub. L. 96–589 generally revised and expanded the section to specify the amount of reduction of basis of property under…

§ 1023 Cross references

  • § 1023 Pub. L. 96–589 redesignated par. (3) as (2). Former par. (2), which provided reference to sections 670, 796, and 922 of…

§ 1398 Rules relating to individuals’ title 11 cases

§ 1399 No separate taxable entities for partnerships, corporations, etc.

§ 3302 Credits against tax

  • (a)(5) Pub. L. 96–589 added par. (5).

§ 6012 Persons required to make returns of income

  • (a) Pub. L. 96–589, § 3(b)(1), added par. (9).
  • (b)(3) Pub. L. 96–589, § 6(i)(5), substituted “trustee in a case under title 11 of the United States Code” for “trustee in…
  • (b)(4) Pub. L. 96–589, § 3(b)(2), inserted reference to estate of an individual under chapter 7 or 11 of title 11 of the…

§ 6036 Notice of qualification as executor or receiver

  • § 6036 Pub. L. 96–589 substituted “trustee in a case under title 11 of the United States Code” for “trustee in bankruptcy”.

§ 6103 Confidentiality and disclosure of returns and return information

  • (e)(4) Pub. L. 96–589, § 3(c)(1), added par. (4). Former par. (4), relating to public inspection of returns of persons whose…
  • (e)(5) Pub. L. 96–589, § 3(c)(1), added par. (5). Former par. (5) redesignated (6).
  • (e)(6) Pub. L. 96–589, § 3(c)(1), (2), redesignated former par. (5) as (6), and in par. (6) as so redesignated, inserted…
  • (e)(7) Pub. L. 96–589, § 3(c)(1), redesignated former par. (6) as (7).

§ 6155 Payment on notice and demand

  • (b)(2) Pub. L. 96–589 struck out reference to a bankruptcy proceeding.

§ 6161 Extension of time for paying tax

  • (c) Pub. L. 96–589 substituted “Claims in cases under title 11 of the United States Code or in receivership proceedings”…

§ 6212 Notice of deficiency

  • (c)(2) Pub. L. 96–589 inserted cross reference to section 505(a) of title 11 for provisions allowing determination of tax in…

§ 6213 Restrictions applicable to deficiencies; petition to Tax Court

  • (f) Pub. L. 96–589 added subsec. (f). Former subsec. (f) redesignated (g).
  • (g) (h) Pub. L. 96–589 redesignated former subsecs. (f) and (g) as (g) and (h), respectively.

§ 6216 Cross references

  • (1) Pub. L. 96–589 struck out reference to bankruptcy proceedings.

§ 6327 Cross references

  • (2) Pub. L. 96–589, § 6(i)(10)(A), substituted “cases under title 11 of the United States Code, see section 523 of such…
  • (3) Pub. L. 96–589, § 6(i)(10)(A), redesignated par. (4) as (3) and substituted “cases under title 11 of the United States…
  • (4) Pub. L. 96–589, § 6(i)(10)(A), redesignated par. (5) as (4) and substituted “plans for individuals with regular income…
  • (5) (6) § 6327 Pub. L. 96–589, § 6(i)(10)(A), (B), redesignated pars. (6) and (7) as (5) and (6), respectively. Former par. (5)…

§ 6404 Abatements

  • (d) Pub. L. 96–589 substituted “section 6213(g)(2)(A)” for “section 6213(f)(2)(A)”.

§ 6503 Suspension of running of period of limitation

  • (i) Pub. L. 96–589, § 6(a), added subsec. (i) and redesignated former subsec. (i), relating to cross references, as (j).…
  • (j) Pub. L. 96–589, § 6(a), (i)(11), redesignated former subsec. (i), relating to cross references, as (j), and in par. (2)…

§ 6512 Limitations in case of petition to Tax Court

  • (c) Pub. L. 96–589 added subsec. (c).

§ 6532 Periods of limitation on suits

  • (a)(5) Pub. L. 96–589 added par. (5).

§ 6658 Coordination with title 11

§ 6871 Claims for income, estate, gift, and certain excise taxes in receivership proceedings, etc.

  • (a) Pub. L. 96–589 amended subsec. (a) generally, substituting reference to appointment of a receiver for the taxpayer in…
  • (b) (c) Pub. L. 96–589 added subsec. (b), redesignated former subsec. (b) as (c), inserted reference to chapters 41, 42, 43…

§ 6872 Suspension of period on assessment

  • § 6872 Pub. L. 96–589 substituted “any case under title 11 of the United States Code” for “any proceeding under the Bankruptcy…

§ 6873 Unpaid claims

  • (a) Pub. L. 96–589 struck out reference to proceedings under the Bankruptcy Act.

§ 7437 Cross references

  • (1) Pub. L. 96–589, § 6(d)(1), added par. (1). Former par. (1), which provided cross reference to former section 35 of…
  • (2) Pub. L. 96–589, § 6(d)(1), (i)(13), added par. (2). Former par. (2), which provided cross reference to former section…
  • (3) Pub. L. 96–589, § 6(d)(1), (i)(13), added par. (3). Former par. (3), which provided cross reference to former section…
  • (4) Pub. L. 96–589, § 6(d)(1), (i)(13), added par. (4). Former par. (4), which provided for cross reference to former…

§ 7464 Intervention by trustee of debtor’s estate

§ 7465 Provisions of special application to transferees

    § 7508 Time for performing certain acts postponed by reason of service in combat zone or contingency operation

    • (d) Pub. L. 96–589 substituted “cases under title 11 of the United States Code and receiverships” for “bankruptcy and…