| TABLE OF INDEXED AMOUNTS |
|
XIX | |
| DEPRECIATION AND COST RECOVERY TABLES |
|
XXV | |
| LIST OF EDITORIAL SUMMARIES |
|
XXXVII | |
| LIST OF CODE SECTIONS AND REGULATION SECTIONS |
|
XLI | |
| INTERNAL REVENUE CODE |
|
1 | (1) |
| SUBTITLE A. INCOME TAXES |
|
|
1. Normal Taxes and Surtaxes |
|
|
1 | (1400) |
|
A. Determination of Tax Liability |
|
|
1 | (60) |
|
|
|
1 | (10) |
|
|
|
11 | (4) |
|
III. Changes in Rates During a Taxable Year |
|
|
15 | (6) |
|
|
|
21 | (34) |
|
A. Nonrefundable Personal Credits |
|
|
21 | (6) |
|
B. Foreign Tax Credit, Etc |
|
|
27 | (4) |
|
|
|
31 | (7) |
|
D. Business Related Credits |
|
|
38 | (8) |
|
E. Rules for Computing Investment Credit |
|
|
46 | (5) |
|
F. Rules for Computing Work Opportunity Credit |
|
|
51 | (2) |
|
G. Credit Against Regular Tax for Prior Year Minimum Tax Liability |
|
|
53 | (2) |
|
V Tax Surcharge [Repealed] |
|
|
|
VI. Alternative Minimum Tax |
|
|
55 | (6) |
|
VII. Environmental Tax 59A |
|
|
|
B. Computation of Taxable Income |
|
|
61 | (240) |
|
I. Definition of Gross Income, Adjusted Gross Income, Taxable Income, Etc |
|
|
61 | (10) |
|
II. Items Specifically Included in Gross Income |
|
|
71 | (30) |
|
III. Items Specifically Excluded From Gross Income |
|
|
101 | (40) |
|
IV Tax Exemption Requirements for State and Local Bonds |
|
|
141 | (10) |
|
V. Deductions for Personal Exemptions |
|
|
151 | (10) |
|
VI. Itemized Deductions for Individuals and Corporations |
|
|
161 | (50) |
|
VII. Additional Itemized Deductions for Individuals |
|
|
211 | (30) |
|
VIII. Special Deductions for Corporations |
|
|
241 | (20) |
|
|
|
261 | (20) |
|
X. Terminal Railroad Corporations and Their Shareholders |
|
|
281 | (10) |
|
XI. Special Rules Relating to Corporate Preference Items |
|
|
291 | (10) |
|
C. Corporate Distributions and Adjustments |
|
|
301 | (100) |
|
I. Distributions by Corporations |
|
|
301 | (30) |
|
|
|
301 | (10) |
|
B. Effects on Corporation |
|
|
311 | (5) |
|
C. Definitions; Constructive Ownership of Stock |
|
|
316 | (15) |
|
II. Corporate Liquidations |
|
|
331 | (20) |
|
|
|
331 | (5) |
|
B. Effects on Corporation |
|
|
336 | (5) |
|
C. Collapsible Corporations [Repealed] |
|
|
341 | (5) |
|
D. Definition and Special Rule |
|
|
346 | (5) |
|
III. Corporate Organizations and Reorganizations |
|
|
351 | (19) |
|
A. Corporate Organizations |
|
|
351 | (3) |
|
B. Effects on Shareholders and Security Holders |
|
|
354 | (7) |
|
C. Effects on Corporation |
|
|
361 | (6) |
|
D. Special Rule; Definitions |
|
|
367 | (3) |
|
IV. Insolvency Reorganizations [Repealed] |
|
|
370 | (11) |
|
|
|
381 | (4) |
|
VI. Treatment of Certain Corporate Interests as Stock or Indebtedness |
|
|
385 | (1) |
|
VII. Miscellaneous Corporate Provisions [Repealed] |
|
|
386 | (15) |
|
D. Deferred Compensation, Etc |
|
|
401 | (40) |
|
I. Pension, Profit-Sharing, Stock Bonus Plans, Etc. |
|
|
401 | (20) |
|
|
|
401 | (9) |
|
|
|
410 | (8) |
|
C. Special Rules for Multiemployer Plans |
|
|
418 | (1) |
|
D. Treatment of Welfare Benefit Funds |
|
|
419 | (1) |
|
E. Treatment of Transfers to Retiree Health Accounts |
|
|
420 | (1) |
|
II. Certain Stock Options |
|
|
421 | (20) |
|
E. Accounting Periods and Methods of Accounting |
|
|
441 | (60) |
|
|
|
441 | (5) |
|
II. Methods of Accounting |
|
|
446 | (35) |
|
A. Methods of Accounting in General |
|
|
446 | (5) |
|
B. Taxable Year for Which Items of Gross Income Included |
|
|
451 | (10) |
|
C. Taxable Year for Which Deductions Taken |
|
|
461 | (10) |
|
|
|
471 | (10) |
|
|
|
481 | (20) |
|
|
|
501 | (30) |
|
|
|
501 | (6) |
|
|
|
507 | (4) |
|
III. Taxation of Business Income of Certain Exempt Organizations |
|
|
511 | (10) |
|
|
|
521 | (5) |
|
V. Shipowners' Protection and Indemnity Associations |
|
|
526 | (1) |
|
VI. Political Organizations |
|
|
527 | (1) |
|
VII. Certain Homeowners Associations |
|
|
528 | (1) |
|
VIII. Higher Education Savings Entities |
|
|
529 | (2) |
|
G. Corporations Used to Avoid Income Tax on Shareholders |
|
|
531 | (50) |
|
I. Corporations Improperly Accumulating Surplus |
|
|
531 | (10) |
|
II. Personal Holding Companies |
|
|
541 | (10) |
|
III. Foreign Personal Holding Companies |
|
|
551 | (10) |
|
IV Deduction for Dividends Paid |
|
|
561 | (20) |
|
|
|
581 | (30) |
|
|
|
611 | (30) |
|
|
|
611 | (10) |
|
II. Exclusions From Gross Income [Repealed] |
|
|
621 | (10) |
|
|
|
631 | (5) |
|
IV Mineral Production Payments |
|
|
636 | (2) |
|
V Continental Shelf Areas |
|
|
638 | (3) |
|
J. Estates, Trusts, Beneficiaries, and Decedents |
|
|
641 | (60) |
|
I. Estates, Trusts, and Beneficiaries |
|
|
641 | (50) |
|
A. General Rules for Taxation of Estates and Trusts |
|
|
641 | (10) |
|
B. Trusts Which Distribute Current Income Only |
|
|
651 | (10) |
|
C. Estates and Trusts Which May Accumulate Income or Which Distribute Corpus |
|
|
661 | (4) |
|
D. Treatment of Excess Distributions by Trusts |
|
|
665 | (6) |
|
E. Grantors and Others Treated as Substantial Owners |
|
|
671 | (10) |
|
|
|
681 | (10) |
|
II. Income in Respect of Decedents |
|
|
691 | (10) |
|
K. Partners and Partnerships |
|
|
701 | (100) |
|
I. Determination of Tax Liability |
|
|
701 | (1) |
|
II. Contributions, Distributions, and Transfers |
|
|
702 | (59) |
|
A. Contributions to a Partnership |
|
|
721 | (10) |
|
B. Distributions by a Partnership |
|
|
731 | (10) |
|
C. Transfers of Interests in a Partnership |
|
|
741 | (10) |
|
D. Provisions Common to Other Subparts |
|
|
751 | (10) |
|
|
|
761 | (10) |
|
IV. Electing Large Partnerships |
|
|
771 | (1) |
|
IV. Effective Date for Subchapter [Repealed] |
|
|
771 | (30) |
|
|
|
801 | (50) |
|
M. Regulated Investment and Real Estate Investment Trusts Companies |
|
|
851 | (10) |
|
N. Tax Based on Income From Sources Within or Without the United States |
|
|
861 | (140) |
|
I. Determination of Sources of Income |
|
|
861 | |
|
II. Nonresident Alien and Foreign Corporations |
|
|
87l | (814) |
|
III. Income From Sources Without the United States |
|
|
901 | (90) |
|
|
|
901 | (10) |
|
B. Earned Income of Citizens or Residents of United States |
|
|
911 | (10) |
|
C Taxation of Foreign Sales Corporations |
|
|
921 | (10) |
|
D. Possessions of the United States |
|
|
931 | (10) |
|
E. Qualifying Foreign Trade Income |
|
|
941 | (10) |
|
F. Controlled Foreign Corporations |
|
|
951 | (19) |
|
G. Export Trade Corporations |
|
|
970 | (11) |
|
H. Income of Certain Nonresident United States Citizens Subject to Foreign Community Property Laws [Repealed] |
|
|
981 | (1) |
|
I. Admissibility of Documentation Maintained in Foreign Countries |
|
|
982 | (3) |
|
J. Foreign Currency Transactions |
|
|
985 | (6) |
|
IV. Domestic International Sales Corporations |
|
|
991 | (8) |
|
V. International Boycott Determinations |
|
|
999 | (2) |
|
O. Gain or Loss on Disposition of Property |
|
|
1001 | (200) |
|
I. Determination of Amount of and Recognition of Gain or Loss |
|
|
1001 | (10) |
|
II. Basis Rules of General Application |
|
|
1011 | (20) |
|
III. Common Nontaxable Exchanges |
|
|
1031 | (20) |
|
|
|
1051 | (20) |
|
V. Changes to Effectuate F.C.C. Policy |
|
|
1071 | (10) |
|
VI. Exchanges in Obedience to S.E.C. Orders |
|
|
1081 | (10) |
|
VII. Wash Sales; Straddles |
|
|
1091 | (10) |
|
VIII. Distributions Pursuant to Bank Holding Company Act [Repealed] |
|
|
1101 | (10) |
|
IX. Distributions Pursuant to Orders Enforcing the Antitrust Laws [Repealed] |
|
|
1111 | (90) |
|
P. Capital Gains and Losses |
|
|
1201 | (100) |
|
I. Treatment of Capital Gains |
|
|
1201 | (10) |
|
II. Treatment of Capital Losses |
|
|
1211 | (10) |
|
III. General Rules for Determining Capital Gains and Losses |
|
|
1221 | (10) |
|
IV. Special Rules for Determining Capital Gains and Losses |
|
|
1231 | (40) |
|
V. Special Rules for Bonds and Other Debt Instruments |
|
|
1271 | (20) |
|
A. Original Issue Discount |
|
|
1271 | (5) |
|
B. Market Discount on Bonds |
|
|
1276 | (5) |
|
C. Discount on Short-Term Obligations |
|
|
1281 | (5) |
|
D. Miscellaneous Provisions |
|
|
1286 | (5) |
|
VI. Treatment of Certain Passive Foreign Investment Companies |
|
|
1291 | (10) |
|
Q. Readjustment of Tax Between Years and Special Limitations |
|
|
1301 | (60) |
|
|
|
1301 | (10) |
|
II. Mitigation of Effect of Limitations and Other Provisions |
|
|
1311 | (10) |
|
III. Involuntary Liquidation and Replacement of LIFO Inventories [Repealed] |
|
|
1321 | (10) |
|
IV. War Loss Recoveries [Repealed] |
|
|
1331 | (10) |
|
|
|
1341 | (5) |
|
VI. Maximum Rate on Personal Service Income [Repealed] |
|
|
1346 | (5) |
|
VII. Recoveries of Foreign Expropriation Losses |
|
|
1351 | (10) |
|
R. Election of Certain Partnerships and Proprietorships as to Taxable Status [Repealed] |
|
|
1361 | (1) |
|
S. Tax Treatment of S Corporations and Their Shareholders |
|
|
1361 | (20) |
|
|
|
1361 | (5) |
|
II. Tax Treatment of Shareholders |
|
|
1366 | (5) |
|
|
|
1371 | (6) |
|
IV Definitions; Miscellaneous |
|
|
1377 | (4) |
|
T. Cooperatives and Their Patrons |
|
|
1381 | (10) |
|
U. Designation and Treatment of Empowerment Zones, Enterprise Communities, and Rural Development Investment Areas |
|
|
1391 | (7) |
|
|
|
1398 | (2) |
|
W. District of Columbia Enterprise Zone |
|
|
1400 | (1) |
|
X. Designation of Renewal Communities |
|
|
1400 | (1) |
|
Y. New York Liberty Zone Benefits |
|
|
1400 | (1) |
|
2. Tax on Self-Employment Income |
|
|
1401 | (40) |
|
3. Withholding of Tax on Nonresident Aliens and Foreign Corporations |
|
|
1441 | (30) |
|
4. Rules Applicable to Recovery of Excessive Profits on Government Contracts [Repealed] |
|
|
1471 | (20) |
|
5. Tax on Transfers to Avoid Income Tax |
|
|
1491 | (10) |
|
|
|
1501 | (500) |
|
A. Returns and Payment of Tax |
|
|
1501 | (50) |
|
|
|
1551 | (450) |
|
|
|
1551 | (10) |
|
II. Certain Controlled Corporations |
|
|
1561 | (440) |
| SUBTITLE B. ESTATE AND GIFT TAXES |
|
|
|
|
2001 | (500) |
|
A. Estates of Citizens or Residents |
|
|
2001 | (100) |
|
|
|
2001 | (9) |
|
|
|
2010 | (21) |
|
|
|
2031 | (20) |
|
|
|
2051 | (50) |
|
B. Estates of Nonresidents Not Citizens |
|
|
2101 | (100) |
|
|
|
2201 | (300) |
|
|
|
2501 | (100) |
|
A. Determination of Tax Liability |
|
|
2501 | (10) |
|
|
|
2511 | (10) |
|
|
|
2521 | (80) |
|
13. Tax on Certain Generation-Skipping Transfers |
|
|
2601 | (100) |
|
|
|
2601 | (10) |
|
B. Generation-Skipping Transfers |
|
|
2611 | (10) |
|
|
|
2621 | (10) |
|
|
|
2631 | (10) |
|
E. Applicable Rate, Inclusion Ratio |
|
|
2641 | (10) |
|
F. Other Definitions and Special Rules |
|
|
2651 | (10) |
|
|
|
2661 | (40) |
|
14. Special Valuation Rules |
|
|
2701 | (400) |
| SUBTITLE C. EMPLOYMENT TAXES |
|
|
21. Federal Insurance Contributions Act |
|
|
3101 | (100) |
|
22. Railroad Retirement Tax Act |
|
|
3201 | (100) |
|
23. Federal Unemployment Tax Act |
|
|
3301 | (20) |
|
23A. Railroad Unemployment Repayment Tax |
|
|
3321 | (80) |
|
24. Collection of Income Tax at Source on Wages |
|
|
3401 | (100) |
|
25. General Provisions Relating to Employment Taxes |
|
|
3501 | (500) |
| SUBTITLE D. MISCELLANEOUS EXCISE TAXES |
|
|
|
|
4001 | (60) |
|
32. Manufacturers Excise Taxes |
|
|
4061 | (170) |
|
33. Facilities and Services |
|
|
4231 | (140) |
|
34. Policies Issued by Foreign Insurers |
|
|
4371 | (30) |
|
|
|
4401 | (60) |
|
36. Certain Other Excise Taxes |
|
|
4461 | (40) |
|
|
|
4501 | (110) |
|
|
|
4611 | (90) |
|
39. Registration-Required Obligations |
|
|
4701 | (200) |
|
40. General Provisions Relating to Occupational Taxes |
|
|
4901 | (10) |
|
|
|
4911 | (47) |
|
42. Private Foundations and Certain Other Tax-Exempt Organizations |
|
|
4958 | (13) |
|
43. Qualified Pension, Etc., Plans |
|
|
4971 | (10) |
|
44. Qualified Investment Entities |
|
|
4981 | (5) |
|
45. Windfall Profit Tax on Domestic Crude Oil |
|
|
4986 | (13) |
|
46. Golden Parachute Payments |
|
|
4999 | (1) |
|
47. Certain Large Group Health Plans |
|
|
5000 | (1) |
| SUBTITLE E. ALCOHOL, TOBACCO, AND CERTAIN OTHER EXCISE TAXES |
|
|
51. Distilled Spirits, Wines, and Beer |
|
|
5001 | (700) |
|
52. Cigars, Cigarettes, Smokeless Tobacco, and Cigarette Papers and Tubes |
|
|
5701 | (100) |
|
53. Machine Guns, Destructive Devices, and Certain Other Firearms |
|
|
5801 | (80) |
|
|
|
5881 | (120) |
| SUBTITLE F. PROCEDURE AND ADMINISTRATION |
|
|
61. Information and Returns |
|
|
6001 | (150) |
|
|
|
6001 | (100) |
|
I. Records, Statements, and Special Returns |
|
|
6001 | (10) |
|
II. Tax Returns or Statements |
|
|
6011 | (20) |
|
|
|
6011 | (1) |
|
|
|
6012 | (6) |
|
C. Estate and Gift Tax Returns |
|
|
6018 | (2) |
|
D. Miscellaneous Provisions |
|
|
6020 | (11) |
|
|
|
6031 | (30) |
|
A. Information Concerning Persons Subject to Special Provisions |
|
|
6031 | (10) |
|
B. Information Concerning Transactions with Other Persons |
|
|
6041 | (10) |
|
C. Information Regarding Wages Paid Employees |
|
|
6051 | (5) |
|
D. Information Concerning Private Foundations [Repealed] |
|
|
6056 | (1) |
|
E. Registration of and Information Concerning Pension, Etc., Plans |
|
|
6057 | (3) |
|
F. Information Concerning Income Tax Return Preparers |
|
|
6060 | (1) |
|
IV. Signing and Verifying of Returns and Other Documents |
|
|
6061 | (10) |
|
V. Time for Filing Returns and Other Documents |
|
|
6071 | (10) |
|
VI. Extension of Time for Filing Returns |
|
|
6081 | (10) |
|
VII. Place for Filing Returns or Other Documents |
|
|
6091 | (5) |
|
VIII. Designation of Income Tax Payments to Presidential Election Campaign Fund |
|
|
6096 | (5) |
|
B. Miscellaneous Provisions |
|
|
6101 | (50) |
|
62. Time and Place for Paying Tax |
|
|
6151 | (50) |
|
A. Place and Due Date for Payment of Tax |
|
|
6151 | (10) |
|
B. Extensions of Time for Payment |
|
|
6161 | (40) |
|
|
|
6201 | (100) |
|
|
|
6201 | (10) |
|
B. Deficiency Procedures in the Case of Income, Estate, Gift, and Certain Excise Taxes |
|
|
6211 | (10) |
|
C. Tax Treatment of Partnership Items |
|
|
6221 | (20) |
|
D. Tax Treatment of Subchapter S Items |
|
|
6241 | (60) |
|
|
|
6301 | (100) |
|
65. Abatements, Credits, and Refunds |
|
|
6401 | (100) |
|
|
|
6401 | (10) |
|
B. Rules of Special Application |
|
|
6411 | (90) |
|
|
|
6501 | (100) |
|
A. Limitations on Assessment and Collection |
|
|
6501 | (10) |
|
B. Limitations on Credit or Refund |
|
|
6511 | (10) |
|
C. Mitigation of Effect of Period of Limitations |
|
|
6521 | (10) |
|
D. Periods of Limitation in Judicial Proceedings |
|
|
6531 | (70) |
|
|
|
6601 | (50) |
|
A. Interest on Underpayments |
|
|
6601 | (10) |
|
B. Interest on Overpayments |
|
|
6611 | (10) |
|
C. Determination of Interest Rate; Compounding of Interest |
|
|
6621 | (10) |
|
|
|
6631 | (20) |
|
68. Additions to the Tax, Additional Amounts, and Assessable Penalties |
|
|
6651 | (150) |
|
A. Additions to the Tax and Additional Amounts |
|
|
6651 | (20) |
|
|
|
6651 | (11) |
|
II. Accuracy-Related and Fraud Penalties |
|
|
6662 | (3) |
|
|
|
6665 | (6) |
|
|
|
6671 | (530) |
|
|
|
6671 | (50) |
|
II. Failure to File Certain Information, Returns or Statements |
|
|
6721 | (80) |
|
69. General Provisions Relating to Stamps |
|
|
6801 | (50) |
|
70. Jeopardy, Receiverships, Etc |
|
|
6851 | (50) |
|
71. Transferees and Fiduciaries |
|
|
6901 | (100) |
|
72. Licensing and Registration |
|
|
7001 | (100) |
|
|
|
7101 | (20) |
|
74. Closing Agreements and Compromises |
|
|
7121 | (80) |
|
75. Crimes, Other Offenses, and Forfeitures |
|
|
7201 | (200) |
|
|
|
7201 | (60) |
|
|
|
7201 | (30) |
|
II. Penalties Applicable to Certain Taxes |
|
|
7231 | (30) |
|
|
|
7261 | (40) |
|
|
|
7301 | (40) |
|
D. Miscellaneous Penalty and Forfeiture Provisions |
|
|
7341 | (60) |
|
|
|
7401 | (100) |
|
A. Civil Actions by the United States |
|
|
7401 | (20) |
|
B. Proceedings by Taxpayers and Third Parties |
|
|
7421 | (20) |
|
|
|
7441 | (40) |
|
I. Organization and Jurisdiction |
|
|
7441 | (10) |
|
|
|
7451 | (20) |
|
III. Miscellaneous Provisions |
|
|
7471 | (4) |
|
|
|
7475 | (6) |
|
D. Court Review of Tax Court Decisions |
|
|
7481 | (10) |
|
|
|
7491 | (10) |
|
77. Miscellaneous Provisions |
|
|
7501 | (100) |
|
78. Discovery of Liability and Enforcement of Title |
|
|
7601 | (100) |
|
|
|
7701 | (100) |
|
|
|
7801 | (200) |
|
A. Application of Internal Revenue Laws |
|
|
7801 | (50) |
|
B. Effective Date and Related Provisions |
|
|
7851 | (20) |
|
C. Provisions Affecting More than One Subtitle |
|
|
7871 | |
| SUBTITLE G. THE JOINT COMMITTEE ON TAXATION |
|
|
91. Organization and Membership of the Joint Committee |
|
|
8001 | (20) |
|
92. Powers and Duties of the Joint Committee |
|
|
8021 | (980) |
| SUBTITLE H. FINANCING OF PRESIDENTIAL ELECTION CAMPAIGNS |
|
|
95. Presidential Election Campaign Fund |
|
|
9001 | (300) |
|
96. Presidential Primary Matching Payment Account |
|
|
9301 | (200) |
| SUBTITLE I. TRUST FUND CODE |
|
|
|
|
9501 | |
| REGULATIONS |
|
999 | (860) |
| GLOSSARY |
|
1859 | (26) |
| INDEX |
|
1885 | |
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