Pub. L. 97-34: Aug. 13, 1981

Bill H.R. 4242 · Bluebook JCS-71-81 (1981)

§ 1 Tax imposed

(a) (b) (c) (d) (e) Pub. L. 97–34, § 101(a), generally revised tax tables downward providing for cumulative across-the-board reductions of…
(f) Pub. L. 97–34, § 104(a), added subsec. (f).

§ 3 Tax tables for individuals

(a)(1) Pub. L. 97–34, § 101(b)(2)(B), inserted “and which shall be in such form as he determines appropriate” after…
(a) Pub. L. 97–34, § 121(c)(3), substituted “reduced by the sum of (i) the excess itemized deductions, and (ii) the direct…
(a) Pub. L. 97–34, § 101(b)(2)(C), added par. (5).
(b)(1) Pub. L. 97–34, § 101(c)(2)(A), substituted “an individual to whom section 1301 (relating to income averaging) applies…

§ 11 Tax imposed

(b) Pub. L. 97–34, § 231(a)(1), substituted “15 percent (16 percent for taxable years beginning in 1982)” for “17 percent”.
(b) Pub. L. 97–34, § 231(a)(2), substituted “18 percent (19 percent for taxable years beginning in 1982)” for “20 percent”.

§ 15 Effect of changes

(d) Pub. L. 97–34 substituted provisions that this section shall not apply to any change in rates under section 1…
(e) (f) Pub. L. 97–34 struck out subsecs. (e) and (f) which had related, respectively, to changes made by the Tax Reduction and…

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

(a) Pub. L. 97–34, § 124(a), designated existing provisions as par. (1), substituted “the applicable percentage” for “20…
(c)(2) Pub. L. 97–34, § 124(c), designated existing provisions as cl. (i) and added cl. (ii).
(c)(2) Pub. L. 97–34, § 124(d), added subpars. (C) and (D).
(d)(1) Pub. L. 97–34, § 124(b)(1)(A), substituted “$2,400” for “$2,000”.
(d)(2) Pub. L. 97–34, § 124(b)(1)(B), substituted “$4,800” for “$4,000”.
(e)(2) Pub. L. 97–34, § 124(b)(2)(A), substituted “$200” for “$166”.
(e)(2) Pub. L. 97–34, § 124(b)(2)(B), substituted “$400” for “$333”.

§ 22 Credit for the elderly and the permanently and totally disabled

(e) Pub. L. 97–34 substituted “section 911(d)(2)” for “section 911(b)”.

§ 32 Earned income

(c)(1)(C) Pub. L. 97–34 struck out reference to section 913 in heading, substituted “relating to citizens or residents of the…

§ 40 Alcohol, etc., used as fuel

(e)(2) Pub. L. 97–34 substituted “15” for “7” in two places, and “14” for “6” in one place.

§ 41 Credit for increasing research activities

Enacted § 41

§ 45K Credit for producing fuel from a nonconventional source

(e) Pub. L. 97–34 substituted provisions respecting application with the Natural Gas Policy Act of 1978 for prior provision…

§ 46 Amount of credit

§ 46 Pub. L. 97–34, § 212(a)(1), added cl. (iv).
§ 46 Pub. L. 97–34, § 332(a), substituted “December 31, 1982” for “December 31, 1983” in cls. (i) and (ii) and added cl.…
§ 46 Pub. L. 97–34, § 212(a)(2), added subpar. (F).
§ 46 Pub. L. 97–34, § 207(c)(1), inserted provision after subpar. (D) directing that, in the case of an unused credit for an…
§ 46 Pub. L. 97–34, § 211(e)(1), inserted references in provisions preceding table to exceptions provided in paragraphs (3)…
§ 46 Pub. L. 97–34, § 211(e)(2), substituted “Notwithstanding paragraph (2) or (3)” for “Notwithstanding paragraph (2)” and…
§ 46 Pub. L. 97–34, § 211(a)(1), added par. (7).
§ 46 Pub. L. 97–34, § 211(f)(1), added par. (8).
§ 46 Pub. L. 97–34, § 302(c)(3), (d)(1), provided that, applicable to taxable years beginning after Dec. 31, 1984…
§ 46 Pub. L. 97–34, § 211(f)(1), added par. (9).
§ 46 Pub. L. 97–34, § 211(b)(1), designated existing provisions as subpar. (A), substituted “an amount equal to the…
§ 46 Pub. L. 97–34, § 211(b)(2), struck out “having a useful life of 7 years or more” after “it is reasonable to believe…
§ 46 Pub. L. 97–34, § 211(d), in provisions following subpar. (B), inserted provision that, for purposes of subpar. (B), in…

§ 47 Rehabilitation credit

(a) Pub. L. 97–34, § 211(g)(2)(A), inserted provisions relating to disposition, cessation, or change in expected use…
(a) Pub. L. 97–34, § 211(g)(1), (2)(B), added par. (5), redesignated former par. (5) as (6) and substituted “paragraph (1)…
(a) Pub. L. 97–34, § 211(g)(1), (2)(C), redesignated former par. (6) as (7), substituted “paragraph (6)” for “paragraph…
(d) Pub. L. 97–34, § 211(f)(2), added subsec. (d).

§ 48 Energy credit

(a)(1) Pub. L. 97–34, § 211(e)(4), in provisions following subpar. (G), substituted “Such term includes only recovery property…
(a)(1) Pub. L. 97–34, § 211(c), added subpar. (G).
(a)(2)(B) Pub. L. 97–34, § 211(h), designated existing provisions as subcl. (I) and added subcl. (II).
(a)(3)(D) Pub. L. 97–34, § 212(c), added subpar. (D).
(a)(4) Pub. L. 97–34, § 214(a), inserted provision that, if any qualified rehabilitated building is used by the tax-exempt…
(a)(5) Pub. L. 97–34, § 214(b), inserted provision that, if any qualified rehabilitated building is used by the governmental…
(a)(8) Pub. L. 97–34, § 212(d)(2)(A), substituted “or 188” for “188, or 191”.
(a)(9) Pub. L. 97–34, § 211(a)(2), struck out par. (9) which set out a special rule for the depreciation of railroad track.
(c)(2)(A) (c)(2)(B) (c)(2)(C) Pub. L. 97–34, § 213(a), amended subpars. (A) to (C) generally raising in subpar. (A) the existing $100,000 dollar…
§ 48 Pub. L. 97–34, § 212(b), in amending subsec. (c) generally incorporated the concept of “substantial rehabilitation”…
§ 48 Pub. L. 97–34, § 211(e)(3), inserted “or which is recovery property (within the meaning of section 168)” after “3 years…
§ 48 Pub. L. 97–34, § 332(b), substituted “which does not exceed” for “equal to”.
§ 48 Pub. L. 97–34, § 212(a)(3), added par. (8).

§ 51 Amount of credit

(c)(3) (c)(4) Pub. L. 97–34, § 261(b)(2)(B)(ii), redesignated par. (4) as (3). Former par. (3), which excluded from term “wages” any…
(c)(3) (c)(4) Pub. L. 97–34, § 261(a), extended termination date to Dec. 31, 1982, from Dec. 31, 1981, and inserted “to an individual…
(d)(1)(H) (d)(1)(I) Pub. L. 97–34, § 261(b)(1), added subpars. (H) and (I).
(d)(3)(A)(ii) Pub. L. 97–34, § 261(b)(2)(B)(iii), substituted “paragraph (11)” for “paragraph (9)”.
(d)(4) Pub. L. 97–34, § 261(b)(2)(B)(iii), (3), in subpar. (B) inserted “and” after “States,” in subpar. (C) substituted…
(d)(7)(B) Pub. L. 97–34, § 261(b)(2)(B)(iii), substituted “paragraph (11)” for “paragraph (9)”.
(d)(9) (d)(10) Pub. L. 97–34, § 261(b)(2)(A), added pars. (9) and (10) and redesignated former pars. (9) and (10) as (11) and (12)…
(d)(11) Pub. L. 97–34, § 261(b)(2)(A), (c)(2), redesignated former par. (9) as (11), substituted “70 percent or less” for “less…
(d)(12) (d)(13) Pub. L. 97–34, § 261(b)(2)(A), redesignated former pars. (10) and (11) as pars. (12) and (13), respectively. Former…
(d)(14) Pub. L. 97–34, § 261(f)(1)(A), substituted as definition for term “ ‘designated local agency’ means a State employment…
(d)(14) Pub. L. 97–34, § 261(b)(2)(A), redesignated former par. (12) as (14).
(d)(15) Pub. L. 97–34, § 261(c)(1), added par. (15).
(e) Pub. L. 97–34, § 261(e)(1), struck out subsec. (e) which set forth limitation that qualified first-year wages could not…
(f) Pub. L. 97–34, § 261(e)(2), substituted “any taxable year” for “any year” in pars. (1) and (2) and struck out par. (3)…
(g) Pub. L. 97–34, § 261(f)(1)(B), substituted “United States Employment Service” for “Secretary of Labor” in heading and…
(i) Pub. L. 97–34, § 261(d), added subsec. (i).

§ 62 Adjusted gross income defined

§ 62 Pub. L. 97–34, § 311(h)(1), struck out “and the deduction allowed by section 220 (relating to retirement savings for…
§ 62 Pub. L. 97–34, § 112(b)(2), redesignated par. (15) as (14). Former par. (14), relating to deduction for certain…
§ 62 Pub. L. 97–34, § 112(b)(2), redesignated par. (16) as (15). Former par. (15) redesignated (14).
§ 62 Pub. L. 97–34, §§ 103(b), 112(b)(2), added par. (16). Former par. (16) redesignated (15).

§ 63 Taxable income defined

(b)(1) Pub. L. 97–34, § 121(b)(1), added subpar. (C).
(d) Pub. L. 97–34, § 104(b), substituted a blanket reference to individuals to whom subsection (a), (b), (c), or (d) of…
(e)(2) Pub. L. 97–34, § 111(b)(4), substituted “section 911(d)(2)” for “section 911(b)” in provisions following subpar. (B).
(f)(3) Pub. L. 97–34, § 121(c)(2), added par. (3).
§ 63 Pub. L. 97–34, § 121(b)(2), added subsec. (i).

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

(m)(6) Pub. L. 97–34, § 312(d)(1), expanded definition of “owner-employee” to include an employee within the meaning of…
(m)(8) Pub. L. 97–34, § 312(d)(2), added par. (8).
(m)(9) Pub. L. 97–34, § 312(e)(1), added par. (9).
(o) (p) Pub. L. 97–34, § 311(b)(1), added subsec. (o) and redesignated former subsec. (o) as (p).

§ 83 Property transferred in connection with performance of services

(c)(3) Pub. L. 97–34 added par. (3).

§ 85 Unemployment compensation

(a) Pub. L. 97–34 substituted “this section, section 105(d), and section 221” for “this section and without regard to…

§ 103 Interest on State and local bonds

(b) Pub. L. 97–34, § 811(a), added subpar. (I).
(b) Pub. L. 97–34, § 811(b), added par. (9) and redesignated former par. (9) as (10).
§ 103 Pub. L. 97–34, § 812(a), added subsec. (i) and redesignated former subsec. (i) as (j).

§ 105 Amounts received under accident and health plans

(d) Pub. L. 97–34, § 103(c)(2), substituted “this subsection and section 221” for “this subsection” in parenthetical…
(h)(3)(B)(v) Pub. L. 97–34, § 111(b)(4), substituted “section 911(d)(2)” for “section 911(b)”.

§ 119 Meals or lodging furnished for the convenience of the employer

(c) Pub. L. 97–34 added subsec. (c).

§ 121 Exclusion of gain from sale of principal residence

(b)(1) Pub. L. 97–34 substituted “$125,000 ($62,500” for “$100,000 ($50,000”.

§ 129 Dependent care assistance programs

Enacted § 129

§ 140 Cross references to other Acts

§ 140 Pub. L. 97–34 successively renumbered sections 128 and 129 of this title as this section.

§ 151 Allowance of deductions for personal exemptions

(b) (c) (d)(1) (d)(2) (e) Pub. L. 97–34, § 104(c)(1), substituted “the exemption amount” for “$1,000” wherever appearing.
§ 151 Pub. L. 97–34, § 104(c)(2), added subsec. (f).

§ 162 Trade or business expenses

(h) Pub. L. 97–34 added subsec. (h) relating to State legislators’ travel expenses away from home. Former subsec. (h)…
(i) Pub. L. 97–34 redesignated former subsec. (h), relating to cross references, as (i). See 1982 Amendment note above.

§ 167 Depreciation

(a) Pub. L. 97–34, § 203(a), inserted provision that, in the case of recovery property (within the meaning of section 168)…
(d) Pub. L. 97–34, § 203(d), provided that subsec. (d) did not apply with respect to recovery property defined in section…
§ 167 Pub. L. 97–34, § 264(a), substituted “Except as provided in subparagraph (B), the aggregate amount” for “The aggregate…
§ 167 Pub. L. 97–34, § 209(d)(3), inserted “and which is placed in service before January 1, 1981” after “pre-1970 public…
§ 167 Pub. L. 97–34, § 203(b), added par. (4).
§ 167 Pub. L. 97–34, § 212(d)(1), struck out subsec. (n) which dealt with the use of the straight line method of depreciation…
§ 167 Pub. L. 97–34, § 203(c)(1), redesignated subsec. (s) as (r). Former subsec. (r), relating to the…
§ 167 Pub. L. 97–34, § 203(c)(1), redesignated subsec. (s) as (r).

§ 168 Accelerated cost recovery system

Enacted § 168

§ 170 Charitable, etc., contributions and gifts

(b)(2) Pub. L. 97–34, § 263(a), increased to 10 from 5 percent deduction allowable to a corporation in any taxable year for…
(e)(4) Pub. L. 97–34, § 222(a), added par. (4).
(i) Pub. L. 97–34, § 121(a), added subsec. (i). Former subsec. (i) redesignated (j).
(j) (k) Pub. L. 97–34, § 121(a), redesignated former subsecs. (i) and (j) as (j) and (k), respectively.

§ 172 Net operating loss deduction

(b)(1)(B) Pub. L. 97–34, § 207(a)(1), substituted “15 taxable years” for “7 taxable years”.
(b)(1)(C) Pub. L. 97–34, § 207(a)(2)(A), substituted “ending after December 31, 1955, and before January 1, 1976, shall” for…
(b)(1) Pub. L. 97–34, § 207(a)(2)(B)(i), substituted “15” for “8”.
(b)(1) Pub. L. 97–34, § 207(a)(2)(B)(ii), struck out designation subclause “(I)” for provisions prohibiting a loss carryback…
(g) Pub. L. 97–34, § 207(a)(2)(C), struck out subpar. (C) which provided that, in the case of a net operating loss…

§ 179 Election to expense certain depreciable business assets

§ 179 Pub. L. 97–34 amended section generally, changing its content from provisions that formerly made available an…

§ 219 Retirement savings

(a) Pub. L. 97–34, § 311(a), amended subsec. (a) generally, substituting in heading “Allowance of deduction” for “Deduction…
(b) Pub. L. 97–34, § 311(a), in heading substituted “Maximum amount of deduction” for “Limitations and restrictions”.
(b)(1) Pub. L. 97–34, § 311(a), amended par. (1) generally, substituting “In general” for “Maximum deduction” in heading and…
(b)(2) Pub. L. 97–34, § 312(c)(1), substituted “$15,000” for “$7,500”.
(b)(2) Pub. L. 97–34, § 311(a), redesignated par. (7) as (2), substituted in heading “rules for employer contributions under”…
(b)(3) (b)(4) (b)(5) Pub. L. 97–34, § 311(a), added pars. (3) and (4). Former pars. (3) to (5) redesignated subsec. (d)(1) to (3).
(b) Pub. L. 97–34, § 311(a), struck out par. (6) which set forth alternative deduction provisions which disallowed a…
(b) Pub. L. 97–34, § 311(a), redesignated par. (7) as (2).
(c) Pub. L. 97–34, § 311(a), added subsec. (c). Former subsec. (c)(1) to (3) and (5) redesignated subsec. (f)(1), (2)…
(d) Pub. L. 97–34, § 311(a), in heading redesignated former subsec. (b) heading as subsec. (d) heading and inserted “Other”…
(d)(1) Pub. L. 97–34, § 311(a), redesignated former subsec. (b)(3) as par. (1), substituted as heading “Individuals who have…
(d)(2) Pub. L. 97–34, § 313(b)(2), inserted reference to section 405(d)(3).
(d)(2) Pub. L. 97–34, § 311(a), redesignated former subsec. (b)(4) as par. (2) and substituted “shall be allowed” for “is…
(d)(3) Pub. L. 97–34, § 311(a), redesignated former subsec. (b)(5) as par. (3) and, as so redesignated, substituted “shall be…
(e) Pub. L. 97–34, § 311(a), added subsec. (e) incorporating former provisions of subsecs. (a) and (b)(2) as pars. (1), and…
(f)(1) Pub. L. 97–34, § 311(a), redesignated former subsec. (c)(1) as par. (1).
(f)(2) Pub. L. 97–34, § 311(a), redesignated former subsec. (c)(2) as par. (2) and, as so redesignated, substituted “deduction…
(f)(3) Pub. L. 97–34, § 311(a), redesignated former subsec. (c)(3) as subpar. (A) and, as so redesignated, added subpar. (A)…
(f)(4) Pub. L. 97–34, § 311(a), added par. (4).
(f)(5) Pub. L. 97–34, § 311(a), redesignated former provisions of subsec. (a) as par. (5), added par. (5) heading “Employer…
(f)(6) Pub. L. 97–34, § 311(a), redesignated former subsec. (c)(5) as par. (6), inserted “for contributions to an individual…
(g) Pub. L. 97–34, § 311(a), added subsec. (g).

§ 226 Cross reference

§ 226 Pub. L. 97–34 successively renumbered sections 221 and 222 of this title as this section.

§ 243 Dividends received by corporations

(b)(3)(C) Pub. L. 97–34 struck out “$150,000” before “minimum accumulated earnings credit”.

§ 263 Capital expenditures

(a)(1)(H) Pub. L. 97–34, § 202(d)(1), added subpar. (H).
(e) Pub. L. 97–34, § 201(c), struck out subsec. (e) which related to the allowance of repair expenses or specified repair…
(g) Pub. L. 97–34, § 502, added subsec. (g).

§ 265 Expenses and interest relating to tax-exempt income

§ 265 Pub. L. 97–34, § 302(c)(2), (d)(1), provided that, applicable to taxable years beginning after Dec. 31, 1984, par. (2)…
§ 265 Pub. L. 97–34, § 301(b)(2), inserted “, or to purchase or carry any certificate to the extent the interest on such…

§ 274 Disallowance of certain entertainment, etc., expenses

(b)(1) Pub. L. 97–34, § 265(a), excluded from term “gift” an award for productivity, designated existing provisions as cl.…
(b) Pub. L. 97–34, § 265(b), added par. (3).

§ 280B Demolition of structures

§ 280B Pub. L. 97–34, § 212(d)(2)(C)(i), substituted “48(g)(3)(A)” for “section 191(d)(1)” in provisions preceding par. (1).
§ 280B Pub. L. 97–34, § 212(d)(2)(C)(ii), substituted “section 48(g)(3)(B)” for “section 191(d)(2)”.

§ 303 Distributions in redemption of stock to pay death taxes

(b)(1)(C) Pub. L. 97–34, § 422(e)(1), struck out “or 6166A” after “section 6166” in two places.
(b)(2)(A) Pub. L. 97–34, § 422(b)(1), substituted “35” for “50” before percent.
(b)(2)(B) Pub. L. 97–34, § 422(b)(2), in heading, substituted “stock in 2” for “stock of two”, in first sentence, struck out “the…

§ 305 Distributions of stock and stock rights

(d)(1) Pub. L. 97–34, § 321(b), inserted “(other than subsection (e))” after “this section”.
(e) (f) Pub. L. 97–34, § 321(a), added subsec. (e) and redesignated former subsec. (e) as (f).

§ 312 Effect on earnings and profits

(k)(3) (k)(4) Pub. L. 97–34 added par. (3), redesignated former par. (3) as (4) substituted “The provisions of paragraphs (1) and…

§ 368 Definitions relating to corporate reorganizations

(a)(3)(D) Pub. L. 97–34 substituted “Agency proceedings” for “Agency receivership proceedings” in heading, incorporated existing…

§ 381 Carryovers in certain corporate acquisitions

(c) Pub. L. 97–34, § 208, added par. (28) relating to recovery allowance for recovery property.
(c) Pub. L. 97–34, § 221(b)(1)(B), added par. (28) relating to credit under section 44F.
(c) Pub. L. 97–34, § 331(d)(1)(B), added par. (29).

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

(b) Pub. L. 97–34 designated existing provisions as subpar. (A) and added subpar. (B).

§ 383 Special limitations on certain excess credits, etc.

§ 383 Pub. L. 97–34, § 331(d)(1)(C)(ii), (D)(ii), in catchlines of sections 383, as related to section 382(a) of this title…
§ 383 Pub. L. 97–34, § 331(d)(1)(D)(i), in section 383, as in effect prior to amendment by Pub. L. 94–455, § 806(f)(2), as…
§ 383 Pub. L. 97–34, § 331(d)(1)(C)(i), in section 383, as amended by Pub. L. 94–455, § 806(f)(2), as related to section…
§ 383 Pub. L. 97–34, § 221(b)(1)(C)(ii), (D)(ii), in catchlines of sections 383, as related to section 382(a) of this title…
§ 383 Pub. L. 97–34, § 221(b)(1)(D)(i), in section 383, as in effect prior to amendment by Pub. L. 94–455, § 806(f)(2), as…
§ 383 Pub. L. 97–34, § 221(b)(1)(C)(i), in section 383, as amended by Pub. L. 94–455, § 806(f)(2), as related to section…

§ 401 Qualified pension, profit-sharing, and stock bonus plans

(a)(17) Pub. L. 97–34, § 312(b)(1), designated provision relating to the annual compensation of each employee as subpar. (A)…
(a)(22) Pub. L. 97–34, § 338(a), inserted “(other than a profit-sharing plan)” and substituted “if” for “If” and “such plan”…
(a)(23) Pub. L. 97–34, § 335, substituted “409A(h), except that in applying section 409A(h) for purposes of this paragraph, the…
(d) Pub. L. 97–34, § 312(e)(2), inserted provision making subpar. (B) inapplicable to any distribution to which section…
(d) Pub. L. 97–34, § 314(a)(1), inserted provision making subpar. (C) inapplicable to a distribution on account of the…
(e) Pub. L. 97–34, § 312(c)(2), substituted “for such taxable year exceeds $15,000” for “for all such years exceeds $7,500”.
(j) Pub. L. 97–34, § 312(c)(3), (4), substituted in par. (2)(A) “$100,000” for “$50,000” and in par. (3) inserted provision…

§ 402 Taxability of beneficiary of employees’ trust

(a) Pub. L. 97–34, § 311(c)(1), inserted “(other than deductible employee contributions within the meaning of section…
(a) Pub. L. 97–34, § 314(c)(1), struck out “or made available” after “distributed” in three places.
(a) Pub. L. 97–34, § 311(b)(3)(A), inserted “(other than accumulated deductible employee contributions within the meaning…
(e)(4) Pub. L. 97–34, § 311(b)(2), (c)(2), added to subpar. (A) provision that for purposes of sections 402 and 403, the…

§ 403 Taxation of employee annuities

(b)(8)(B) Pub. L. 97–34 inserted “, or 1 or more distributions of accumulated deductible employee contributions (within the…

§ 404 Deduction for contributions of an employer to an employees’ trust or annuity plan and compensation under a deferred-payment plan

(a)(10) Pub. L. 97–34, § 333(a), added par. (10).
(e) Pub. L. 97–34, § 312(a), substituted in pars. (1) and (2)(A) “$15,000” for “$7,500”.
(i) Pub. L. 97–34, § 331(b), added subsec. (i).

§ 408 Individual retirement accounts

(a)(1) Pub. L. 97–34, § 313(b)(2), inserted reference to section 405(d)(3).
(a)(1) Pub. L. 97–34, § 311(g)(1)(A), substituted “$2,000” for “$1,500”.
(b) Pub. L. 97–34, § 311(g)(1)(B), substituted in par. (2)(B) and provision following par. (5) “$2,000” for “$1,500”.
(d)(4) Pub. L. 97–34, § 311(h)(2), substituted section “219” for “219 or 220” in provision preceding subpar. (A) and in…
(d)(5)(A) Pub. L. 97–34, § 312(c)(5), substituted “$15,000” for “$7,500”.
(d)(5)(A) Pub. L. 97–34, § 311(g)(2), (h)(2), substituted “$2,250” for “$1,750” and “219” for “219 or 220” in two places.
(j) Pub. L. 97–34, § 312(c)(5), substituted “$15,000” for “$7,500”.
(j) Pub. L. 97–34, § 311(g)(1)(C), substituted “$2,000” for “$1,500”.
(k)(3)(C) Pub. L. 97–34, § 312(b)(2), designated provision relating to compensation bearing a uniform relationship to total…
(m) (n) Pub. L. 97–34, § 314(b)(1), as amended by Pub. L. 97–448, § 103(e)(1), added subsec. (m) and redesignated former…

§ 409 Qualifications for tax credit employee stock ownership plans

(b) Pub. L. 97–34, § 331(c)(1)(A), (B), inserted in par. (1)(A) reference to section 44G(c)(1)(B), and inserted in par. (4)…
(d) Pub. L. 97–34, § 337, designated provision relating to death, disability, or separation from service as par. (1) and…
(g) Pub. L. 97–34, § 331(c)(1)(C), (D), inserted reference to section 44G(c)(1)(B) and inserted “or the credit allowed…
(h)(2) Pub. L. 97–34, § 334, substituted “this subsection” for “this section” and inserted provision respecting receipt of…
(h)(3) (h)(4) Pub. L. 97–34, § 336, added pars. (3) and (4).
(i)(1)(A) Pub. L. 97–34, § 331(c)(1)(E), inserted reference to section 44G(c)(1)(B).
(m) Pub. L. 97–34, § 331(c)(1)(F), inserted reference to section 44G(c)(1)(B).
(n)(2) (n)(3) Pub. L. 97–34, § 331(c)(1)(G), (H), inserted “or employee stock ownership credit” after “employee plan credit” in par.…

§ 410 Minimum participation standards

(b)(3)(C) Pub. L. 97–34 substituted “section 911(d)(2)” for “section 911(b)”.

§ 415 Limitations on benefits and contribution under qualified plans

(a)(2) Pub. L. 97–34, § 311(g)(4)(A), struck out in provision preceding subpar. (A) “Except as provided in paragraph (3)”…
(a) Pub. L. 97–34, § 311(h)(3), struck out par. (3) which provided that par. (2) not apply to an account, annuity, or bond…
(c)(2) Pub. L. 97–34, § 311(g)(4)(B), included in provision following subpar. (C) references to sections 403(b)(8) and…
(c)(6) Pub. L. 97–34, § 333(b)(1), added subpar. (C).
(e) Pub. L. 97–34, § 311(g)(4)(C), struck out “, any individual retirement account described in section 408(a), any…

§ 421 General rules

(a) (b) (c)(1)(A) Pub. L. 97–34 inserted references to section 422A(a) in subsecs. (a), (b), and (c)(1)(A) and to section 422A(a)(1) in…

§ 422 Incentive stock options

Enacted § 422

§ 424 Definitions and special rules

(d) Pub. L. 97–34, § 251(b)(2), inserted reference to section 422A(b)(6).
(g) Pub. L. 97–34, § 251(b)(3), inserted reference to section 422A(a)(2).
(h)(3)(B) Pub. L. 97–34, § 251(b)(4), inserted reference to section 422A(b)(5).

§ 453 Installment method

(i) (j) Pub. L. 97–34 added subsec. (i) and redesignated former subsec. (i) as (j).

§ 472 Last-in, first-out inventories

(d) Pub. L. 97–34, § 236(a), substituted “3-year averaging for increases in inventory value” for “Preceding closing…
(f) Pub. L. 97–34, § 235, added subsec. (f).

§ 474 Simplified dollar-value LIFO method for certain small businesses

Enacted § 474

§ 483 Interest on certain deferred payments

(g) Pub. L. 97–34 added subsec. (g).

§ 527 Political organizations

(h) Pub. L. 97–34 added subsec. (h).

§ 535 Accumulated taxable income

(c)(2) Pub. L. 97–34, § 232(a), designated existing provisions as subpar. (A), substituted “$250,000” for “$150,000”, and…
(c)(3) Pub. L. 97–34, § 232(b)(1), substituted “$250,000” for “$150,000”.

§ 541 Imposition of personal holding company tax

§ 541 Pub. L. 97–34 substituted “50 percent” for “70 percent”.

§ 584 Common trust funds

(c)(2) Pub. L. 97–34, § 301(b)(6)(A), inserted reference to “interest” in heading and text, which continued the amendment made…
(c)(2) Pub. L. 97–34, § 301(b)(3), inserted “or 128” after “section 116”.

§ 585 Reserves for losses on loans of banks

(b)(2) Pub. L. 97–34 defined “allowable percentage” to mean 1.0 percent for taxable years beginning in 1982 and 0.6 percent…

§ 591 Deduction for dividends paid on deposits

§ 591 Pub. L. 97–34 designated existing provisions as subsec. (a), inserted heading “In general”, and added subsec. (b).

§ 593 Reserves for losses on loans

(a) Pub. L. 97–34, § 245(c)(1), struck out “not having capital stock represented by shares” after “mutual savings bank”.
(b)(2)(B) Pub. L. 97–34, § 245(b)(1), inserted “which is not described in section 591(b)” after “mutual savings bank” in cls. (i)…
(b)(2)(C) Pub. L. 97–34, § 245(b)(2), inserted “which are not described in section 591(b)” after “mutual savings banks” in cl.…
(e)(1) Pub. L. 97–34, § 245(c)(2), inserted “or an institution that is treated as a mutual savings bank under section 591(b)”…
(e)(1) Pub. L. 97–34, § 243, inserted provisions making par. (1) inapplicable to any distribution to the Federal Savings and…

§ 597 Treatment of transactions in which Federal financial assistance provided

Enacted § 597

§ 642 Special rules for credits and deductions

(f) Pub. L. 97–34 substituted “and 188” for “188, and 191”.

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

(a)(7) Pub. L. 97–34, § 301(b)(6)(A), inserted reference to “interest” in heading and text, which continued the amendment made…
(a)(7) Pub. L. 97–34, § 301(b)(4), inserted “or section 128 (relating to interest on certain savings certificates)” after…

§ 691 Recipients of income in respect of decedents

(c)(3) Pub. L. 97–34 substituted “section 2602(c)(5)(B)” for “section 2602(c)(5)(C)”.

§ 702 Income and credits of partner

(a)(5) Pub. L. 97–34, § 301(b)(6)(C), inserted reference to “interest” in heading and text which continued the amendment made…
(a)(5) Pub. L. 97–34, § 301(b)(5), inserted “or 128” after “section 116”.

§ 854 Limitations applicable to dividends received from regulated investment company

(b) Pub. L. 97–34, § 302(c)(4), (d)(1), provided for general amendment of subsec. (b) so as to include provisions relating…

§ 857 Taxation of real estate investment trusts and their beneficiaries

(c) Pub. L. 97–34, § 302(c)(5), (d)(1), provided for general amendment of subsec. (c) so as to include provisions relating…

§ 862 Income from sources without the United States

(a)(8) Pub. L. 97–34 added par. (8).

§ 871 Tax on nonresident alien individuals

(g) Pub. L. 97–34 substituted “6015(j)” for “6015(i)”.

§ 879 Tax treatment of certain community income in the case of nonresident alien individuals

(a)(1) Pub. L. 97–34 substituted “section 911(d)(2)” for “section 911(b)”.

§ 897 Disposition of investment in United States real property

(c)(1)(A)(i) Pub. L. 97–34, § 831(a)(1), defined “United States real property interest” to also mean an interest in real property…
(c)(4)(B) Pub. L. 97–34, § 831(b), substituted “Assets” for “Interests” in heading and in first sentence “Under regulations…
(d)(1) Pub. L. 97–34, § 831(c), substituted “Exceptions” for “Exception where there is a carryover basis” in heading, inserted…
(i) Pub. L. 97–34, § 831(d), in par. (1)(A) substituted “holds a United States real property interest” for “has a permanent…
(j) (k) (l) Pub. L. 97–34, § 831(f), (g), added subsecs. (j) to (l).

§ 911 Citizens or residents of the United States living abroad

§ 911 Pub. L. 97–34 amended section generally, modifying the eligibility standards of existing law, replacing the existing…

§ 964 Miscellaneous provisions

(a) Pub. L. 97–34 substituted “section 312(k)(4)” for “section 312(k)(3)”.

§ 1014 Basis of property acquired from a decedent

(e) Pub. L. 97–34 added subsec. (e).

§ 1015 Basis of property acquired by gifts and transfers in trust

(d)(2) Pub. L. 97–34 substituted “calendar year (or preceding calendar period)” for “calendar quarter (or calendar year if the…

§ 1016 Adjustments to basis

(a)(24) Pub. L. 97–34, § 212(d)(2)(G), added par. (24).
(c) Pub. L. 97–34, § 421(g), substituted provisions respecting increase in basis of property on which additional estate tax…

§ 1033 Involuntary conversions

(g)(3)(A) Pub. L. 97–34 substituted “(relating to election to expense certain depreciable business assets)” for “(relating to…

§ 1040 Transfer of certain farm, etc., real property

§ 1040 Pub. L. 97–34 substituted “Transfer of certain farm, etc., real property” for “Use of farm, etc., real property to…
(a) Pub. L. 97–34 revised subsec. (a) generally, substituting “transfers to a qualified heir (within the meaning of section…
(b) Pub. L. 97–34 substituted “shall apply where the trustee of a trust (any portion of which is included in the gross…

§ 1092 Straddles

Enacted § 1092

§ 1212 Capital loss carrybacks and carryovers

(c) Pub. L. 97–34 added subsec. (c).

§ 1221 Capital asset defined

§ 1221 Pub. L. 97–34 redesignated par. (6) as (5) and struck out former par. (5), which excluded from definition of “capital…

§ 1231 Property used in the trade or business and involuntary conversions

(b)(1)(D) Pub. L. 97–34 substituted “paragraph (5)” for “paragraph (6)”.

§ 1233 Gains and losses from short sales

(e)(2)(A) Pub. L. 97–34 inserted “, but does not include any position to which section 1092(b) applies” after “taxpayer”.

§ 1234A Gains or losses from certain terminations

Enacted § 1234A

§ 1236 Dealers in securities

(a) Pub. L. 97–34, § 506(a), substituted “before the close of the day on which it was acquired (before the close of the…
(d) Pub. L. 97–34, § 506(b), added subsec. (d).

§ 1245 Gain from dispositions of certain depreciable property

(a)(1) Pub. L. 97–34, § 204(a), inserted reference to section 1245 recovery property disposed of after Dec. 31, 1980, in…
(a)(2) Pub. L. 97–34, §§ 202(b)(1)–(3), 204(b), inserted reference to section 179 in subpar. (D), added subpar. (E), and, in…
(a)(3)(D) Pub. L. 97–34, § 202(b)(3), inserted reference to section 179.
(a)(3)(E) (a)(3)(F) Pub. L. 97–34, § 201(b), added subpars. (E) and (F).
(a) Pub. L. 97–34, § 204(c), added par. (5).
(a) Pub. L. 97–34, § 204(d), added par. (6).

§ 1250 Gain from dispositions of certain depreciable realty

(b)(4) Pub. L. 97–34, § 212(d)(2)(F), inserted “(as in effect before its repeal by the Economic Recovery Tax Act of 1981)”…
(d) Pub. L. 97–34, § 204(e), added par. (11).

§ 1256 Section 1256 contracts marked to market

Enacted § 1256

§ 1402 Definitions

(a)(8) Pub. L. 97–34, § 111(b)(3), substituted “relating to citizens or residents of the United States living abroad” for…
(a)(11) Pub. L. 97–34, § 111(b)(5), substituted “in the case of an individual described in section 911(d)(1)(B), the exclusion…

§ 1561 Limitation on accumulated earnings credit in the case of certain controlled corporations

(a) Pub. L. 97–34 substituted “$250,000 ($150,000 if any component member is a corporation described in section…

§ 2001 Imposition and rate of tax

(b)(2) Pub. L. 97–34, § 402(c), inserted “which would have been” before “payable” and “, if the rate schedule set forth in…
(c) Pub. L. 97–34, § 402(a), (b)(1), designated existing provision as par. (1), inserted heading “In general” and…

§ 2010 Unified credit against estate tax

(a) Pub. L. 97–34, § 401(a)(1), substituted “$192,800” for “$47,000”.
(b) Pub. L. 97–34, § 401(a)(2)(A), struck out “$47,000” before “credit” from heading and in text substituted in subsec. (a)…

§ 2012 Credit for gift tax

(b)(2) Pub. L. 97–34 substituted “the amount of such value, reduced as provided in paragraph (1)” for “an amount which bears…

§ 2032A Valuation of certain farm, etc., real property

(a)(2) Pub. L. 97–34, § 421(a), substituted “Limit on aggregate reduction in fair market value” for “Limitation” in heading…
(b)(1) Pub. L. 97–34, § 421(b)(1), substituted “qualified use by the decedent or a member of the decedent’s family” for…
(b)(4) (b)(5) Pub. L. 97–34, § 421(b)(2), added pars. (4) and (5).
(c)(1) Pub. L. 97–34, § 421(c)(1)(A), substituted “10 years” for “15 years”.
(c)(2)(E) Pub. L. 97–34, § 421(h)(2), added subpar. (E).
(c)(3) Pub. L. 97–34, § 421(c)(1)(B)(i), redesignated par. (4) as (3) and struck out former par. (3), which provided for a…
(c)(4) (c)(5) Pub. L. 97–34, § 421(c)(1)(B)(i), redesignated pars. (5) and (6) as (4) and (5), respectively. Former par. (4)…
(c)(6) Pub. L. 97–34, § 421(c)(2)(B)(ii), in subpar. (B) substituted “more than 3 years” for “3 years or more”.
(c)(6) Pub. L. 97–34, § 421(c)(1)(B)(i), redesignated par. (7) as (6). Former par. (6) redesignated (5).
(c)(7) Pub. L. 97–34, § 421(c)(1)(B)(i), (2)(A), added par. (7). Former par. (7) redesignated (6).
(d)(1) Pub. L. 97–34, § 421(j)(3), substituted “The election under this section shall be made on the return of the tax imposed…
(e)(2) Pub. L. 97–34, § 421(i), substituted provisions designated subpars. (A) through (D) for “such individual’s ancestor or…
(e)(7) Pub. L. 97–34, § 421(f), added subpar. (B), redesignated former subpar. (B) as (C), and inserted “and that there is no…
(e)(9) Pub. L. 97–34, § 421(j)(2)(A), struck out from subpar. (B) “in satisfaction of the right of such person to a pecuniary…
(e)(12) Pub. L. 97–34, § 421(c)(2)(B)(i), added par. (12).
(e)(13) (e)(14) Pub. L. 97–34, § 421(h)(1), (j)(4), added pars. (13) and (14).
(f)(1) Pub. L. 97–34, § 421(e)(2), substituted “to which subsection (h)” for “to which an election under subsection (h)”.
(f)(1) Pub. L. 97–34, § 421(d)(2)(A), substituted “conversion or exchange”, “(h) or (i)”, and “replace or of the exchange of…
(g) Pub. L. 97–34, § 421(j)(1), inserted provision that for purposes of the preceding sentence, an interest in a…
(h)(1)(A) Pub. L. 97–34, § 421(e)(1)(A), struck out “and the qualified heir makes an election under this subsection” after…
(h)(2)(A) Pub. L. 97–34, § 421(c)(1)(B)(ii), substituted “; except that” for “, except that” and “the 10-year period” for “the…
(h)(2)(C) Pub. L. 97–34, § 421(c)(1)(B)(iii), substituted “(6)” for “(7)” in provisions preceding cl. (i).
(h) Pub. L. 97–34, § 421(e)(1)(B), struck out par. (5) which provided for making a subsec. (h) election at such time and in…
(i) Pub. L. 97–34, § 421(d)(1), added subsec. (i).

§ 2035 Adjustments for certain gifts made within 3 years of decedent’s death

(b) Pub. L. 97–34, § 403(b)(3)(B), inserted “(other than by reason of section 6019(a)(2))” after “section 6019”.
(d) Pub. L. 97–34, § 424(a), added subsec. (d).

§ 2039 Annuities

§ 2039 Pub. L. 97–34, § 311(d)(1), provided that for purposes of subsec. (c), any deductible employee contributions, within…
§ 2039 Pub. L. 97–34, § 313(b)(3), inserted reference to rollover contribution described in section 405(d)(3).
§ 2039 Pub. L. 97–34, § 311(h)(4), substituted “section 219” for “section 219 or 220”.

§ 2040 Joint interests

(a) Pub. L. 97–34, § 403(c)(2), substituted “joint tenants with right of survivorship” for “joint tenants” in three places.
(b)(2) Pub. L. 97–34, § 403(c)(1), in redefining “qualified joint interest” substituted provision defining term as meaning any…
§ 2040 Pub. L. 97–34, § 403(c)(3)(A), repealed subsec. (c) respecting value where spouse of decedent materially participated…

§ 2044 Certain property for which marital deduction was previously allowed

Enacted § 2044

§ 2045 Prior interests

§ 2046 Disclaimers

§ 2055 Transfers for public, charitable, and religious uses

(e)(4) Pub. L. 97–34 added par. (4).

§ 2056 Bequests, etc., to surviving spouse

(a) Pub. L. 97–34, § 403(a)(1)(B), substituted “subsection (b)” for “subsections (b) and (c)”.
(b)(7) (b)(8) Pub. L. 97–34, § 403(d)(1), added pars. (7) and (8).
(c) (d) Pub. L. 97–34, § 403(a)(1)(A), redesignated subsec. (d) as (c) and struck out former subsec. (c) relating to limitation…

§ 2204 Discharge of fiduciary from personal liability

(a) (b) (c) Pub. L. 97–34, § 422(e)(1), (3), struck out reference to section 6166A in subsecs. (a) and (b), and two such references…

§ 2207A Right of recovery in the case of certain marital deduction property

Enacted § 2207A

§ 2501 Imposition of tax

(a)(1) (a)(4) Pub. L. 97–34 substituted “calendar year” for “calendar quarter” wherever appearing.

§ 2502 Rate of tax

(a) Pub. L. 97–34 substituted in introductory text and par. (1) “calendar year” for “calendar quarter” and in pars. (1) and…
(b) Pub. L. 97–34 substituted definition of “preceding calendar period” for “calendar quarter”, the latter including only…
(c) § 2502 Pub. L. 97–34 redesignated subsec. (d) as (c). Former subsec. (c), defining “preceding calendar years” and “preceding…

§ 2503 Taxable gifts

(a) Pub. L. 97–34, § 442(a)(3)(A), substituted “the total amount of gifts made during the calendar year, less the…
(b) Pub. L. 97–34, § 442(a)(3)(B), substituted provision that in the case of gifts, other than gifts of future interests in…
(b) Pub. L. 97–34, § 441(a), substituted “$10,000” for “$3,000”.
(d) Pub. L. 97–34, § 311(h)(5), repealed subsec. (d) which related to individual retirement accounts, etc., for spouse.
(e) Pub. L. 97–34, § 441(b), added subsec. (e).

§ 2504 Taxable gifts for preceding calendar periods

§ 2504 Pub. L. 97–34, § 442(a)(4)(D), substituted “calendar periods” for “years and quarters” in section catchline.
(a) Pub. L. 97–34, § 442(a)(4)(A), substituted in introductory text “preceding calendar periods” and “calendar year” for…
(b) Pub. L. 97–34, § 442(a)(4)(B), substituted in heading “calendar periods” for “years and quarters” and in text…
(c) Pub. L. 97–34, § 442(a)(4)(C), substituted in heading “calendar periods” for “calendar years and quarters” and in text…

§ 2505 Unified credit against gift tax

(a) Pub. L. 97–34, § 442(a)(5)(A), substituted in provision preceding par. (1) “year” for “quarter”, and “periods” for…
(a)(1) Pub. L. 97–34, § 401(b)(1), substituted “$192,800” for “$47,000”.
(b) Pub. L. 97–34, § 401(b)(2), struck out from heading “$47,000” before “credit”, substituted subsec. (a)(1) substitutions…
§ 2505 Pub. L. 97–34, § 442(a)(5)(B), substituted “year” for “quarter” in two places.

§ 2512 Valuation of gifts

(b) Pub. L. 97–34 substituted “calendar year” for “calendar quarters”.

§ 2513 Gift by husband or wife to third party

(a)(1) (a)(2) Pub. L. 97–34, § 442(b)(2)(A), substituted “calendar year” for “calendar quarter”.
(b)(2) Pub. L. 97–34, § 442(b)(2)(B)–(D), in introductory text, substituted “calendar year” for “calendar quarter”, in subpar.…
(c) Pub. L. 97–34, § 442(b)(2)(E), in provision preceding par. (1) substituted “calendar year” for “calendar quarter” and…
(d) Pub. L. 97–34, § 442(b)(2)(F), substituted “any calendar year” and “such year” for “any calendar quarter” and “such…

§ 2518 Disclaimers

(c)(3) Pub. L. 97–34 added par. (3).

§ 2519 Dispositions of certain life estates

Enacted § 2519

§ 2522 Charitable and similar gifts

(a) Pub. L. 97–34, § 442(c), substituted “year” for “quarter” in two places in provision preceding par. (1).
(b) Pub. L. 97–34, § 442(c), substituted “year” for “quarter” in provision preceding par. (1).
(c)(3) Pub. L. 97–34, § 423(b), added par. (3).

§ 2523 Gift to spouse

(a) Pub. L. 97–34, § 403(b)(1), struck out “(1) In general” designation for existing text and struck out par. (2) which…
(f) Pub. L. 97–34, § 403(b)(2), (d)(2), substituted provision relating to election with respect to life estate for donee…
(g) Pub. L. 97–34, § 403(d)(2), added subsec. (g).

§ 2602 Amount of tax

§ 2602 Pub. L. 97–34 redesignated subpars. (B) and (C) as (A) and (B), respectively, and struck out former subpar. (A)…

§ 2621 Taxable amount in case of taxable distribution

(b) Pub. L. 97–34 substituted “Section 6166” for “Sections 6166 and 6166A” in heading and “section 6166 (relating to…

§ 3121 Definitions

(a)(18) Pub. L. 97–34 substituted “section 127 or 129” for “section 127”.

§ 3201 Rate of tax

(a) Pub. L. 97–34 added subsec. (a).
(b) Pub. L. 97–34 designated existing provisions as subsec. (b) and substituted “The rate of tax imposed by subsection (a)…

§ 3211 Rate of tax

(a) Pub. L. 97–34 substituted “11.75” for “9.5”.

§ 3221 Rate of tax

(a) Pub. L. 97–34 substituted in first sentence “11.75” for “9.5”.

§ 3231 Definitions

(e)(1) Pub. L. 97–34, § 743(a), inserted after third sentence provision that “Compensation which is paid in one calendar month…
(e)(1) Pub. L. 97–34, § 741(d)(2), struck out cl. (iii) exclusion from term “compensation” the voluntary payment by an…
(e)(2) Pub. L. 97–34, § 743(b), (c), inserted first sentence respecting presumption of a payment through the employer’s…

§ 3306 Definitions

(b)(13) Pub. L. 97–34, § 124(e)(2)(A), substituted “section 127 or 129” for “section 127”.
(c)(18) (c)(19) Pub. L. 97–34, § 822(a), added par. (18) and redesignated former par. (18) as (19).

§ 3401 Definitions

(a)(12)(D) Pub. L. 97–34, § 311(h)(6), substituted “section 219(a)” for “section 219(a) or 220(a)”.
(a)(18) Pub. L. 97–34, § 124(e)(2)(A), substituted “section 127 or 129” for “section 127”.
(a)(18) Pub. L. 97–34, § 112(b)(5), redesignated par. (19) as (18). Former par. (18), relating to remuneration paid to or on…
(a)(19) (a)(20) Pub. L. 97–34, § 112(b)(5), redesignated par. (20) as (19). Former par. (19) redesignated (18).

§ 3402 Income tax collected at source

(a) Pub. L. 97–34, § 101(e)(1), revised subsec. (a) generally to provide for a 5-percent reduction in income tax…
(b)(1) Pub. L. 97–34, § 101(e)(2)(A), redesignated par. (2) as (1). Former par. (1), which set out a table for determining…
(b)(2) Pub. L. 97–34, § 101(e)(2)(A), redesignated par. (3) as (2). Former par. (2) redesignated (1).
(b)(3) Pub. L. 97–34, § 101(e)(2)(A), (B), redesignated par. (4) as (3) and substituted provisions relating to an employer’s…
(b)(4) (b) Pub. L. 97–34, § 101(e)(2)(A), redesignated par. (5) as (4). Former par. (4) redesignated (3).
(f)(1) Pub. L. 97–34, § 101(e)(3), inserted “(or more than one exemption if so prescribed by the Secretary)” after “an amount…
(i) Pub. L. 97–34, § 101(e)(4), substituted provisions authorizing the Secretary by regulations to provide for increases or…
(m) Pub. L. 97–34, § 101(e)(5), revised provisions respecting additional withholding allowances for anticipated excess…

§ 4251 Imposition of tax

(a)(2) Pub. L. 97–34, § 821(a), substituted “During 1982, 1983, or 1984” for “During 1982” in table.
(b) Pub. L. 97–34, § 821(b), extended termination date to Jan. 1, 1985, from Jan. 1, 1983.

§ 4942 Taxes on failure to distribute income

(d)(1) Pub. L. 97–34, § 823(a)(1), struck out “or the adjusted net income (whichever is higher)” after “return”.
(j)(3) Pub. L. 97–34, § 823(a)(2), (3), inserted in subpar. (A) “the lesser of” after “substantially all of”, designated…

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

(a) Pub. L. 97–34, § 311(h)(9), substituted “The tax imposed by this subsection shall be paid by such individual” for “The…
(b)(1)(A) Pub. L. 97–34, § 313(b)(2), inserted “405(d)(3),” after “403(b)(8),”.
(b)(1)(B) Pub. L. 97–34, § 311(h)(7), substituted “section 219” for “section 219 or 220”.
(b)(2)(C) Pub. L. 97–34, § 311(h)(7), (10), substituted “section 219” for “section 219 or 220”, and “section 219(f)(6)” for…

§ 5684 Penalties relating to the payment and collection of liquor taxes

(b) Pub. L. 97–34, § 724(b)(4)(A), redesignated subsec. (c) as (b). Former subsec. (b), which related to penalties for…
(c) Pub. L. 97–34, § 724(b)(4), redesignated subsec. (d) as (c), added par. (4), and redesignated pars. (5) and (6) as (4)…
(c) Pub. L. 97–34, § 722(a)(3), substituted “6660” for “6659” in heading and text.
§ 5684 Pub. L. 97–34, § 724(b)(4), redesignated subsec. (d) as (c).

§ 5761 Civil penalties

(c) Pub. L. 97–34, § 724(b)(5), added subsec. (c). Former subsec. (c), which related to applicability of section 6656 to…
(d) Pub. L. 97–34, §§ 722(a)(3), 724(b)(5), added subsec. (d). Former subsec. (d), which related to applicability of…

§ 6012 Persons required to make returns of income

(a)(1) Pub. L. 97–34, § 104(d)(1)(D), substituted “the exemption amount” for “$1,000”, wherever appearing, substituted “the…
(c) Pub. L. 97–34, § 111(b)(3), substituted “relating to citizens or residents of the United States living abroad” for…

§ 6013 Joint returns of income tax by husband and wife

(b)(3)(A) Pub. L. 97–34 substituted “the exemption amount” for “$1,000” and “twice the exemption amount” for “$2,000” in cls.…

§ 6018 Estate tax returns

(a)(1) Pub. L. 97–34, § 401(a)(2)(B)(i), substituted “$600,000” for “$175,000”.
(a)(3) Pub. L. 97–34, § 401(a)(2)(B)(ii), set forth par. (1) substitutions for “$600,000” amount of “$225,000”, “$275,000”…

§ 6019 Gift tax returns

§ 6019 Pub. L. 97–34 struck out subsec. “(a) In general” designation, substituted “calendar year” for “calendar quarter” and…

§ 6039 Returns required in connection with certain options

(a)(1) Pub. L. 97–34, § 251(b)(5)(A), inserted “, an incentive stock option,” after “qualified stock option”.
(b) Pub. L. 97–34, § 251(b)(5)(B), inserted “incentive stock option,” after “qualified stock option,”.
(c) Pub. L. 97–34, § 251(b)(5)(C), added par. (4).

§ 6039C Returns with respect to foreign persons holding direct investments in United States real property interests

(b) Pub. L. 97–34, § 831(e), substituted “For purposes of determining whether an entity to which this subsection applies…
§ 6039C Pub. L. 97–34, § 831(a)(3), added subsec. (f).

§ 6041 Information at source

(d) (e) Pub. L. 97–34 added subsec. (d) and redesignated former subsec. (d) as (e).

§ 6047 Information relating to certain trusts and annuity plans

(d) Pub. L. 97–34 substituted “section 219(a)” for “section 219(a) or 220(a)”.

§ 6075 Time for filing estate and gift tax returns

(b) Pub. L. 97–34 substituted in par. (1) the rule for filing gift tax returns on or before the 15th day of April following…

§ 6091 Place for filing returns or other documents

(b)(1)(B)(iii) Pub. L. 97–34 substituted “section 911 (relating to citizens or residents of the United States living abroad)” for…

§ 6096 Designation by individuals

(b) Pub. L. 97–34, § 331(e)(1), inserted reference to section 44G.
(b) Pub. L. 97–34, § 221(c)(1), inserted reference to section 44F.

§ 6103 Confidentiality and disclosure of returns and return information

(b)(2) Pub. L. 97–34 inserted prohibition against disclosure of methods for selection of tax returns for audit.

§ 6161 Extension of time for paying tax

(a)(2)(B) Pub. L. 97–34 struck out reference to section 6166A.

§ 6166 Extension of time for payment of estate tax where estate consists largely of interest in closely held business

§ 6166 Pub. L. 97–34, § 422(e)(5)(B), substituted “Extension of time” for “Alternate extension of time” in section catchline.
(a) Pub. L. 97–34, § 422(a)(1), (e)(5)(A), substituted in par. (1) “35 percent” for “65 percent” and struck out par. (4)…
(c) Pub. L. 97–34, § 422(a)(2), substituted “20 percent or more” for “more than 20 percent”.
(g)(1)(A) Pub. L. 97–34, § 422(c)(1), redesignated cl. (i) as cl. (i)(I), substituted “any portion” for “one-third or more in…
(g)(1)(D) Pub. L. 97–34, § 422(c)(3), inserted provision for application of a similar rule in the case of a series of subsequent…
(g)(3) Pub. L. 97–34, § 422(c)(2), substituted as heading “Failure to make payment of principal or interest” for “Failure to…

§ 6212 Notice of deficiency

(c)(1) Pub. L. 97–34 substituted “calendar year” for “calendar quarter”.

§ 6324A Special lien for estate tax deferred under section 6166

§ 6324A Pub. L. 97–34, § 422(e)(6)(C), struck out “or 6166A” after “section 6166” in section catchline.
(a) (c)(2) Pub. L. 97–34, § 422(e)(6)(A), struck out “or 6166A” after “section 6166”.
(d)(3) (d)(5) Pub. L. 97–34, § 422(e)(6)(B), struck out “or 6166A(h)” after “section 6166(g)”.
(e)(1) (e)(3) (e)(4) Pub. L. 97–34, § 422(e)(6)(A), struck out “or 6166A” after “section 6166”.

§ 6324B Special lien for additional estate tax attributable to farm, etc., valuation

(c)(2) Pub. L. 97–34 defined “qualified real property” to include qualified exchange property (within the meaning of section…

§ 6411 Tentative carryback and refund adjustments

(a) Pub. L. 97–34, § 331(d)(2)(B), inserted in introductory provisions “by an employee stock ownership credit carryback…
(a) Pub. L. 97–34, § 221(b)(2)(B), inserted in introductory provision “by a research credit carryback provided in section…
(b) Pub. L. 97–34, § 331(d)(2)(B)(i), substituted “unused research credit, or unused employee stock ownership credit” for…
(b) Pub. L. 97–34, § 221(b)(2)(B)(i), substituted “unused new employee credit, or unused research credit” for “or unused…
(c) Pub. L. 97–34, § 331(d)(2)(B)(i), substituted “unused research credit, or unused employee stock ownership credit” for…
(c) Pub. L. 97–34, § 221(b)(2)(B)(i), substituted “unused new employee credit, or unused research credit” for “or unused…

§ 6503 Suspension of running of period of limitation

(d) Pub. L. 97–34 struck out reference to section 6166A.

§ 6511 Limitations on credit or refund

(d)(4)(C) Pub. L. 97–34, § 331(d)(2)(A), inserted reference to employee stock ownership credit carryback.
(d)(4)(C) Pub. L. 97–34, § 221(b)(2)(A), inserted reference to research credit carryback.

§ 6621 Determination of rate of interest

(b) Pub. L. 97–34, § 711(a), struck out provision that an adjustment provided for under this subsection not be made prior…
(b) Pub. L. 97–34, § 711(c), substituted “January 1” for “February 1”.
(c) Pub. L. 97–34, § 711(b), struck out “90 percent of” before “the average predominant prime rate”.

§ 6652 Failure to file certain information returns, registration statements, etc.

(a) Pub. L. 97–34, § 723(a)(4), inserted in heading “information at source,” before “payments of dividends”.
(a)(1) Pub. L. 97–34, § 723(a)(1), added subpars. (A), (E), and (F), and redesignated former subpars. (A) to (C) as (B) to…
(b) Pub. L. 97–34, § 723(a)(3), substituted provisions relating to failure to file required statement of payment to another…
(h) (i) Pub. L. 97–34, § 311(f), added subsec. (h) and redesignated former subsec. (h) as (i).

§ 6653 Failure to pay stamp tax

§ 6653 Pub. L. 97–34, § 722(b)(1), designated existing provisions as par. (1), inserted heading, struck out “(relating to…
§ 6653 Pub. L. 97–34, § 501(b), added subsec. (g).

§ 6654 Failure by individual to pay estimated income tax

(f) Pub. L. 97–34, § 725(b), added subsec. (f). Former subsec. (f) redesignated (g).
(f)(3) Pub. L. 97–34, § 601(a)(6)(A), inserted “the sum of—” after “(3)”, designated former par. (3) as subpar. (A), and added…
(g) (h) Pub. L. 97–34, §§ 601(a)(6)(A), 725(b), (c)(5), redesignated former subsec. (f) as (g), inserted reference to subsec.…

§ 6655 Failure by corporation to pay estimated income tax

(e)(2) Pub. L. 97–34, § 601(a)(6)(B), inserted “the sum of—”, designated existing provisions as subpar. (A), inserted at end…
(h) Pub. L. 97–34, § 731(a), (b), substituted in heading “minimum percentage” for “at least 60 percent” and provisions of…

§ 6656 Failure to make deposit of taxes

§ 6656 Pub. L. 97–34, § 724(b)(1), inserted “or overstatement of deposits” after “taxes” in section catchline.
(a) Pub. L. 97–34, § 724(b)(3), substituted “Underpayment of deposits” for “Penalty” in heading.
(b) Pub. L. 97–34, § 724(a), substituted provisions relating to conditions for imposition of penalties for overstated…

§ 6682 False information with respect to withholding

§ 6682 Pub. L. 97–34 struck out “allowances based on itemized deductions” after “withholding” in section catchline.
(a) Pub. L. 97–34 substituted provisions relating to imposition of penalty of $500 for statement under section 3402…
(b) (c) Pub. L. 97–34 added subsec. (b) and redesignated former subsec. (b) as (c).

§ 7205 Fraudulent withholding exemption certificate or failure to supply information

§ 7205 Pub. L. 97–34 substituted “$1,000” for “$500”.

§ 7403 Action to enforce lien or to subject property to payment of tax

(a) Pub. L. 97–34 struck out “or 6166A(h)” after “section 6166(g)”.

§ 7451 Petitions

§ 7451 Pub. L. 97–34 increased limitation on amount of fee to $60 from $10.

§ 7701 Definitions

(a)(34) Pub. L. 97–34 substituted “section 6015(d)” for “section 6015(c)”.