Bill H.R. 6056
§ 1 Tax imposed
§ 2 Definitions and special rules
- (a)(3)(B) Pub. L. 97–448 substituted “December 31, 1982” for “January 2, 1978”.
§ 5 Cross references relating to tax on individuals
§ 31 Tax withheld on wages
- § 31 Pub. L. 97–448 amended subsec. (d) generally. See 1982 Amendment note below.
§ 41 Credit for increasing research activities
- (b)(2)(A) Pub. L. 97–448 inserted provision that cl. (iii) would not apply to any amount to the extent that the taxpayer (or any…
§ 45K Credit for producing fuel from a nonconventional source
§ 46 Amount of credit
- § 46 Pub. L. 97–448, § 202(f), substituted “before January 1, 1983, all engineering studies in connection with the…
- § 46 Pub. L. 97–448, § 102(f)(5)(A), substituted “a qualified rehabilitated building” for “any building”.
- § 46 Pub. L. 97–448, § 102(f)(5)(B), substituted “means a qualified rehabilitated building which meets the requirements of…
- § 46 Pub. L. 97–448, § 102(e)(1), substituted “in the case of property other than 3-year property (within the meaning of…
§ 47 Rehabilitation credit
§ 48 Energy credit
- (a)(1) Pub. L. 97–448, § 102(e)(2)(A), inserted “(not including a building and its structural components) used in connection”…
- (a)(10) Pub. L. 97–448, § 202(c), amended directory language of Pub. L. 96–223, § 223(a)(1), to correct an error, and did not…
- § 48 Pub. L. 97–448, § 102(f)(2), (6), substituted “the 24-month period selected by the taxpayer (at the time and in the…
- § 48 Pub. L. 97–448, § 102(f)(3), substituted “a credit is determined under section 46(a)(2)” for “a credit is allowed under…
- § 48 Pub. L. 97–448, § 306(a)(3), substituted “paragraphs (1) and (2) of this subsection and paragraph (5) of subsection…
§ 51 Amount of credit
- (d)(8) Pub. L. 97–448, § 102(l)(1), substituted “clauses (i), (ii), and (iii) of subparagraph (A)” for “subparagraph (A)”.
- (d)(9) Pub. L. 97–448, § 102(l)(3), substituted “section 432(b)(1) or 445” for “section 432(b)(1)”.
- (d)(11) Pub. L. 97–448, § 102(l)(4), substituted “the earlier of the month in which such determination occurs or the month in…
§ 72 Annuities; certain proceeds of endowment and life insurance contracts
§ 83 Property transferred in connection with performance of services
- (c)(3) Pub. L. 97–448 substituted “Securities Exchange Act of 1934” for “Securities and Exchange Act of 1934” in heading and…
§ 108 Income from discharge of indebtedness
- (b)(2)(B) Pub. L. 97–448, § 102(h)(1), added cl. (v).
- (e)(7)(A)(iii) Pub. L. 97–448, § 304(d), added cl. (iii).
§ 129 Dependent care assistance programs
- (d)(1) Pub. L. 97–448, § 101(e)(1)(C), substituted “paragraphs (2) through (7)” for “paragraphs (2) through (6)”.
- (d)(2) Pub. L. 97–448, § 101(e)(1)(A), added par. (2). Former par. (2) redesignated (3).
- (d)(3) Pub. L. 97–448, § 101(e)(1)(A), (B), redesignated former par. (2) as (3) and substituted “employees described in…
- (d)(4) (d)(5) (d)(6) (d)(7) Pub. L. 97–448, § 101(e)(1)(A), redesignated former pars. (3) to (6) as (4) to (7), respectively.
- (e)(7) Pub. L. 97–448, § 101(e)(2), substituted “shall be allowed to the employee under any other section of this chapter for…
§ 168 Accelerated cost recovery system
- (b)(2)(A) Pub. L. 97–448, § 102(a)(5), substituted “In the case of 15-year real property” for “For purposes of this subparagraph”…
- (c) Pub. L. 97–448, § 102(a)(8), added subpar. (F).
- (d)(2)(B) Pub. L. 97–448, § 102(a)(2), substituted “paragraph (7) or (10) of subsection (f)” for “subsection (f)(7)”.
- (e)(4) Pub. L. 97–448, § 102(a)(9)(A), inserted provision that, in the case of the acquisition of property by any partnership…
- (e)(4) Pub. L. 97–448, § 102(a)(9)(B), added subpars. (H) and (I).
- (f)(4) Pub. L. 97–448, § 102(f)(4), substituted “Election made on return” for “Made on return” as the subpar. (B) heading…
- (f)(5) Pub. L. 97–448, § 102(a)(1), inserted provision that, in the case of 15-year real property, the first sentence of this…
- (f) Pub. L. 97–448, § 102(a)(10)(A), amended subpar. (D), as in effect before the amendments made by the Tax Equity and…
- (f) Pub. L. 97–448, § 102(a)(3), added par. (13).
- (g)(8) Pub. L. 97–448, § 102(a)(4)(B), substituted “Qualified coal utilization property” for “In general” in heading.
- (g)(8) Pub. L. 97–448, § 102(a)(4)(C), substituted “Coal utilization property” for “In general” in heading.
- (h)(4) Pub. L. 97–448, § 102(a)(4)(A), substituted “coal utilization property which would otherwise be 15-year public utility…
§ 170 Charitable, etc., contributions and gifts
- (h)(4)(B)(ii) Pub. L. 97–448 substituted “section 48(g)(3)(B)” for “section 191(d)(2)”.
§ 173 Circulation expenditures
§ 174 Amortization of research and experimental expenditures
§ 179 Election to expense certain depreciable business assets
- (d)(10) Pub. L. 97–448 added par. (10).
§ 193 Tertiary injectants
- (b)(1) Pub. L. 97–448 struck out “during the taxable year” after “any cost paid or incurred”.
§ 194A Contributions to employer liability trusts
§ 219 Retirement savings
- (b)(2) Pub. L. 97–448, § 103(c)(12)(A), inserted a close parenthesis after “allowable under paragraph (1)” in introductory…
- (c)(2)(B) Pub. L. 97–448, § 103(c)(1), substituted “the amount allowable as a deduction under subsection (a) for the taxable year…
- (d)(1) Pub. L. 97–448, § 103(c)(2), substituted “Beneficiary must be under age 70½” for “Individuals who have attained age…
- (e) Pub. L. 97–448, § 103(c)(3)(A), redesignated subpar. (E) as (D). Former subpar. (D), which related to simplified…
- (f)(1) Pub. L. 97–448, § 103(c)(4), substituted “earned income (as defined in section 401(c)(2)) reduced by any amount…
- (f)(3) Pub. L. 97–448, § 103(c)(5), substituted “if the contribution is made on account of the taxable year which includes…
§ 263 Capital expenditures
- (g)(2)(A)(ii) Pub. L. 97–448, § 105(b)(1), substituted “all other amounts (including charges for temporary use of the personal…
- (g)(2)(B)(ii) Pub. L. 97–448, § 306(a)(9)(A), substituted “section 1232(a)(3)(A)” for “section 1232(a)(4)(A)”.
§ 291 Special rules relating to corporate preference items
- (a)(1) Pub. L. 97–448 inserted provision that, under regulations prescribed by the Secretary, the provisions of this paragraph…
§ 305 Distributions of stock and stock rights
§ 312 Effect on earnings and profits
- (j) Pub. L. 97–448 substituted “Redemptions” for “Partial liquidations and redemptions” in heading, and in text struck out…
§ 338 Certain stock purchases treated as asset acquisitions
§ 368 Definitions relating to corporate reorganizations
- (a)(2)(C) Pub. L. 97–448, § 304(b), struck out “or stock” after “acquisition of the assets”.
- (a)(3)(B)(i) Pub. L. 97–448, § 304(c), substituted “any party to the reorganization” for “such corporation”.
§ 381 Carryovers in certain corporate acquisitions
§ 401 Qualified pension, profit-sharing, and stock bonus plans
- (a)(21) Pub. L. 97–448, § 103(g)(2)(A), designated part of existing provisions as subpar. (A) and added subpar. (B).
- (d) Pub. L. 97–448, § 306(a)(12), substituted “paragraph (1)(B)” for “paragraph (9)(B)”.
- (d) Pub. L. 97–448, § 103(c)(10)(A), substituted “Subparagraphs (A) and (B) shall not apply to contributions described in…
- (j) Pub. L. 97–448, § 103(d)(2), substituted “under subparagraph (A) of paragraph (2) shall be treated as beginning a new…
§ 402 Taxability of beneficiary of employees’ trust
- (a) Pub. L. 97–448, § 103(c)(8)(A), added cl. (v).
- (e)(1) Pub. L. 97–448, § 101(b), substituted “the zero bracket amount applicable to such an individual for the taxable year”…
- (e)(4)(A) Pub. L. 97–448, § 103(c)(7), substituted “this subsection, subsection (a)(2) of this section, and subsection (a)(2) of…
- (e)(4) Pub. L. 97–448, § 103(c)(12)(D), amended Pub. L. 97–34, § 311(c)(2) [see 1981 Amendment note below], by substituting…
§ 403 Taxation of employee annuities
- (b)(8) Pub. L. 97–448 substituted “subparagraphs (B), (C), (D)(v), and (E)(i) of section 402(a)(5)” for “subparagraphs (B)…
§ 408 Individual retirement accounts
- (j) Pub. L. 97–448, § 103(d)(1)(B), substituted “$17,000” for “$15,000” in provisions preceding par. (1).
- (k)(3)(C) Pub. L. 97–448, § 103(d)(1)(A), inserted “(other than an employee within the meaning of section 401(c)(1))” after “a…
- (m) (n) Pub. L. 97–448, § 103(e)(1), amended directory language of Pub. L. 97–34, § 314(b)(1), thereby correcting subsec.…
§ 409 Qualifications for tax credit employee stock ownership plans
§ 422 Incentive stock options
- (b) Pub. L. 97–448, § 102(j)(1), substituted “granted incentive stock options” for “granted options”.
- (c)(1) Pub. L. 97–448, § 102(j)(2), substituted “Good faith efforts to value stock” for “Exercise of option when price is less…
- (c)(2)(A) Pub. L. 97–448, § 102(j)(3), substituted “either of the periods” for “the 2-year period”.
- (c)(4)(A) Pub. L. 97–448, § 102(j)(4), substituted “granted incentive stock options” for “granted options”.
§ 424 Definitions and special rules
§ 443 Returns for a period of less than 12 months
- (e) Pub. L. 97–448 substituted “section 1398(d)(2)(E)” for “section 1398(d)(3)(E)”.
§ 453 Installment method
- (f)(6)(C) Pub. L. 97–448 inserted “, when used in any provision of this section other than subsection (b)(1),” after “the term…
§ 453B Gain or loss on disposition of installment obligations
- (d) Pub. L. 97–448 substituted “under subsection (a)” for “under paragraph (1)” in second sentence.
§ 483 Interest on certain deferred payments
- (g) Pub. L. 97–448 substituted “Paragraph (1)” for “This section”.
§ 501 Exemption from tax on corporations, certain trusts, etc.
- (c)(23) Pub. L. 97–448 substituted “75 percent” for “25 percent”.
§ 511 Imposition of tax on unrelated business income of charitable, etc., organizations
§ 512 Unrelated business taxable income
- (b)(10) Pub. L. 97–448 substituted “10 percent” for “5 percent”.
§ 545 Undistributed personal holding company income
- (b)(2) Pub. L. 97–448 substituted “10-percent” for “5-percent”.
§ 562 Rules applicable in determining dividends eligible for dividends paid deduction
- (e) Pub. L. 97–448 added subsec. (e).
§ 584 Common trust funds
- (c)(2) Pub. L. 97–448 reenacted par. (2) without change.
§ 613A Limitations on percentage depletion in case of oil and gas wells
§ 616 Development expenditures
§ 617 Deduction and recapture of certain mining exploration expenditures
§ 643 Definitions applicable to subparts A, B, C, and D
- (a)(7) Pub. L. 97–448 substituted “section 116 (relating to partial exclusion of dividends) or section 128 (relating to…
§ 678 Person other than grantor treated as substantial owner
- (e) Pub. L. 97–448 added subsec. (e).
§ 692 Income taxes of members of Armed Forces, astronauts, and victims of certain terrorist attacks on death
- (b) Pub. L. 97–448 substituted “December 31, 1982” for “January 2, 1978”.
§ 702 Income and credits of partner
- (a)(5) Pub. L. 97–448 substituted “an exclusion under section 116 or 128,” for “provided an exclusion under section 116 or…
§ 751 Unrealized receivables and inventory items
- (c) Pub. L. 97–448 inserted reference to section 1245 recovery property (as defined in section 1245(a)(5)) in second…
§ 897 Disposition of investment in United States real property
§ 901 Taxes of foreign countries and of possessions of United States
§ 911 Citizens or residents of the United States living abroad
- (c)(3)(B)(ii) Pub. L. 97–448, § 101(c)(2), substituted “subsection (a)” for “subsection (a)(1)”.
- (d)(7) (d)(8) Pub. L. 97–448, § 101(c)(1), added par. (7) and redesignated former par. (7) as (8).
§ 1014 Basis of property acquired from a decedent
- (b)(10) Pub. L. 97–448 added par. (10).
§ 1040 Transfer of certain farm, etc., real property
§ 1092 Straddles
- (a)(1)(A) Pub. L. 97–448, § 105(a)(1)(A), (2), substituted “unrecognized gain” for “unrealized gain” and “which were offsetting…
- (a)(3) Pub. L. 97–448, § 105(a)(1)(B), substituted “Unrecognized gain” for “Unrealized gain” in heading.
- (a)(3)(A) Pub. L. 97–448, § 105(a)(1)(B), substituted “unrecognized gain” for “unrealized gain” as term defined, designated…
- (a)(3)(B) Pub. L. 97–448, § 105(a)(1)(C), substituted “with respect to which, as of the close of the taxable year, there is…
- (a)(3)(B) Pub. L. 97–448, § 105(a)(1)(C), substituted “unrecognized gain” for “unrealized gain”.
- (c)(2) Pub. L. 97–448, § 105(a)(4), substituted “subsection (a)(2)(B)” for “subsection (a)(3)(B)”.
- (d)(4) Pub. L. 97–448, § 105(a)(3), substituted “a straddle at least 1 (but not all) of the positions of which are regulated…
§ 1212 Capital loss carrybacks and carryovers
- (c)(4)(A) Pub. L. 97–448 struck out “and positions to which section 1256 applies” after “losses from regulated futures contracts”.
§ 1223 Holding period of property
§ 1234A Gains or losses from certain terminations
- § 1234A Pub. L. 97–448 inserted reference to a regulated futures contract (as defined in section 1256) not described in…
§ 1236 Dealers in securities
- (e) Pub. L. 97–448 added subsec. (e).
§ 1239 Gain from sale of depreciable property between certain related taxpayers
- (b) Pub. L. 97–448, § 301(a), substituted provisions that “related persons” means (1) a husband and wife, and (2) a person…
- (c)(1) Pub. L. 97–448, § 301(b), inserted “, with respect to any person” after “means” in introductory provisions and…
- (c)(2) Pub. L. 97–448, § 301(b), struck out “and” at end of subpar. (A), substituted “paragraph (2)(C)” for “paragraphs (2)(C)…
§ 1245 Gain from dispositions of certain depreciable property
- (a)(3)(F) Pub. L. 97–448 inserted “(not including a building or its structural components)” after “a storage facility”.
§ 1248 Gain from certain sales or exchanges of stock in certain foreign corporations
- (c)(1) Pub. L. 97–448 substituted “section 312(k)(4)” for “section 312(k)(3)”.
§ 1250 Gain from dispositions of certain depreciable realty
§ 1256 Section 1256 contracts marked to market
- (b) Pub. L. 97–448, § 105(c)(5)(A), (B), struck out par. (1) which related to contracts requiring delivery of personal…
- (c) Pub. L. 97–448, § 105(c)(1), inserted “, etc.” after “Terminations” in heading and, in text, designated existing first…
- (d)(4)(B) Pub. L. 97–448, § 105(c)(2), substituted “day on which the first regulated futures contract forming part of the…
- (e)(3)(C)(v) Pub. L. 97–448, § 105(c)(3), inserted “(by regulations or otherwise)” after “determines”.
- (g) Pub. L. 97–448, § 105(c)(5)(C), added subsec. (g).
§ 1368 Distributions
- (e)(3) Pub. L. 97–448 added par. (3).
§ 1374 Tax imposed on certain built-in gains
- (d) Pub. L. 97–448 substituted “this section” for “subsections (a)(2) and (b)(2)”.
§ 2032A Valuation of certain farm, etc., real property
- (b)(5)(C) Pub. L. 97–448, § 104(b)(1), added subpar. (C).
- (i)(1)(B)(ii) Pub. L. 97–448, § 104(b)(2)(A), substituted “the qualified exchange property” for “the other property”.
- (i)(3) Pub. L. 97–448, § 104(b)(2)(B), substituted “subparagraph (A) or (B)” for “subparagraph (A), (B), or (C)”.
§ 2035 Adjustments for certain gifts made within 3 years of decedent’s death
- (b) Pub. L. 97–448, § 104(a)(9), substituted “section 6019(2)” for “section 6019(a)(2)”.
- (d) Pub. L. 97–448, § 104(d)(2), inserted “of this subsection and paragraph (2) of subsection (b)” after “Paragraph (1)”…
- (d) Pub. L. 97–448, § 104(d)(1)(C), redesignated subpar. (D) as (C). Former subpar. (C), which referred to section 6166…
- (d) Pub. L. 97–448, § 104(d)(1)(A), added par. (4).
§ 2039 Annuities
§ 2044 Certain property for which marital deduction was previously allowed
- (c) Pub. L. 97–448 added subsec. (c).
§ 2056 Bequests, etc., to surviving spouse
- (b)(7)(B)(ii) Pub. L. 97–448, § 104(a)(8), inserted provision that an annuity shall be treated in a manner similar to an income…
- (b)(9) Pub. L. 97–448, § 104(a)(2)(A), added par. (9).
§ 2518 Disclaimers
- (c)(3) Pub. L. 97–448 substituted “A written transfer” for “For purposes of subsection (a), a written transfer”.
§ 2519 Dispositions of certain life estates
§ 2523 Gift to spouse
- (f)(3) Pub. L. 97–448, § 104(a)(6), substituted “rules similar to the rules of clauses (ii)” for “the rules of clauses (ii)”.
- (f)(4) Pub. L. 97–448, § 104(a)(4), divided existing provisions into subpars. (A) and (B), in subpar. (A) as so designated…
- (f)(5) Pub. L. 97–448, § 104(a)(5), added par. (5).
- (h) Pub. L. 97–448, § 104(a)(2)(B), added subsec. (h).
§ 3401 Definitions
- (a)(12)(D) Pub. L. 97–448 substituted “section 219” for “section 219(a)”.
§ 4942 Taxes on failure to distribute income
- (j)(3)(A)(i) Pub. L. 97–448 substituted “or” for “and” at the end.
§ 4975 Tax on prohibited transactions
- (d) Pub. L. 97–448 inserted “, as in effect on the day before the date of the enactment of the Subchapter S Revision Act of…
§ 5703 Liability for tax and method of payment
- (b) Pub. L. 97–448 designated existing provisions as par. (1), struck out provisions that the Secretary prescribe the time…
§ 5761 Civil penalties
- (c) Pub. L. 97–448 substituted “section 6660” for “section 6659” in heading, and substituted “section 6660(a)” for “section…
§ 6013 Joint returns of income tax by husband and wife
- (f)(1) Pub. L. 97–448 substituted “December 31, 1982” for “January 2, 1978”.
§ 6038A Information with respect to certain foreign-owned corporations
- (c)(2)(B) Pub. L. 97–448 inserted “, (b)(2)(C),” after “(a)(4)”.
§ 6047 Information relating to certain trusts and annuity plans
- (d) Pub. L. 97–448 substituted “section 219” for “section 219(a)”.
§ 6166 Extension of time for payment of estate tax where estate consists largely of interest in closely held business
- (b)(3) Pub. L. 97–448, § 104(c)(1), substituted “35-percent requirement” for “65-percent requirement”.
- (g)(1)(B)(i) Pub. L. 97–448, § 104(c)(2), substituted “the redemption of such stock, and the withdrawal of money or other property…
- (g)(1)(B)(ii) Pub. L. 97–448, § 104(c)(2), substituted “for purposes of subparagraph (A), the value of the interest in the closely…
- (j) Pub. L. 97–448, § 104(d)(1)(B), added par. (5).
§ 6652 Failure to file certain information returns, registration statements, etc.
- (a) Pub. L. 97–448, which directed that “or” be struck out at end of subpar. (F) of par. (1), “or” be inserted at end of…
§ 6653 Failure to pay stamp tax
- § 6653 Pub. L. 97–448, § 107(a)(3), inserted “(or, if earlier, the date of the payment of the tax)” after “assessment of the…
- § 6653 Pub. L. 97–448, § 105(a)(1)(D), redesignated subsec. (g), added by Pub. L. 97–34, as (f) and substituted “unrecognized…
- § 6653 Pub. L. 97–448, § 105(a)(1)(D), redesignated subsec. (g), added by Pub. L. 97–34, as (f).
§ 6654 Failure by individual to pay estimated income tax
- (f)(1) Pub. L. 97–448, § 107(c)(1), inserted “, reduced by the credit allowable under section 31,” before “is less than”.
- (g) Pub. L. 97–448, § 201(j)(3), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “to the…
- (g) Pub. L. 97–448, § 106(a)(4)(C), inserted “or 6430” after “section 6429”.
§ 6655 Failure by corporation to pay estimated income tax
- (f) Pub. L. 97–448 amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “to the extent allowed…
§ 6679 Failure to file returns, etc., with respect to foreign corporations or foreign partnerships
- § 6679 Pub. L. 97–448 amended language of Pub. L. 97–248, § 405(b), (c)(2), to clarify an ambiguity created by the conflicting…
§ 7508 Time for performing certain acts postponed by reason of service in combat zone or contingency operation
- (b)(1) Pub. L. 97–448 substituted “December 31, 1982” for “January 2, 1978”.