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For termination of amendment by section 105 of Pub. L. 108–311, see Effective and Termination Dates of 2004 Amendments note below. For termination of amendment by sections 107 and 303 of Pub. L. 108–27, see Effective and Termination Dates of 2003 Amendment note below. For termination of amendment by section 901 of Pub. L. 107–16, see Effective and Termination Dates of 2001 Amendment note below.
Revenue Procedure 2007–66 provided: Section 1. Purpose This revenue procedure sets forth inflation adjusted items for 2008. Section 2. Changes .01 The excise taxes imposed under § 4261(b) and (c), as enacted by the Airport and Airway Trust Fund Tax Reinstatement Act of 1997 and extended by § 149(a) of Pub. L. No. 110–92, 121 Stat. 989 (2007), apply to transportation taken through November 16, 2007, and to amounts paid on or before November 16, 2007, for transportation beginning after that date. Accordingly, the amounts in § 4261(b) and (c) are not included in this revenue procedure. .02 For 2008, the inflation adjusted items in §§ 25B, 219, and 408A also will be included in a separate news release and related notice with other inflation adjusted amounts relating to pension and retirement accounts. For future years, these amounts will not be included in this revenue procedure but will appear only in the separate news release and related notice. .03 For taxable years beginning after 2007, the inflation adjusted items for health savings accounts under § 223 are published no later than June 1 of the preceding calendar year. See § 223(g) and Rev. Proc. 2007–36, 2007–22 I.R.B. 1335. Accordingly, these items are not included in this revenue procedure. .04 Section 1.148–3(d)(1)(iv) of the proposed Income Tax Regulations provides that on the last day of each bond year during which there are amounts allocated to gross proceeds of an issue that are subject to the rebate requirement, and on the final maturity date, there can be included as a payment a computation credit of $1,400 for any bond year ending in 2007. For bond years ending after 2007, the $1,400 computation credit will be adjusted for inflation pursuant to proposed § 1.148–3(d)(4). See section 3.17 of this revenue procedure. Section 3. 2008 Adjusted Items .01 Tax Rate Tables. For taxable years beginning in 2008, the tax rate tables under § 1 are as follows:
.02 Unearned Income of Minor Children Taxed as if Parent’s Income (the “Kiddie Tax”). For taxable years beginning in 2008, the amount in § 1(g)(4)(A)(ii)(I), which is used to reduce the net unearned income reported on the child’s return that is subject to the “kiddie tax,” is $900. This amount is the same as the $900 standard deduction amount provided in section 3.11(2) of this revenue procedure. The same $900 amount is used for purposes of § 1(g)(7) (that is, to determine whether a parent may elect to include a child’s gross income in the parent’s gross income and to calculate the “kiddie tax”). For example, one of the requirements for the parental election is that a child’s gross income is more than the amount referenced in § 1(g)(4)(A)(ii)(I) but less than 10 times that amount; thus, a child’s gross income for 2008 must be more than $900 but less than $9,000.
.03 Adoption Credit. For taxable years beginning in 2008, under § 23(a)(3) the credit allowed for an adoption of a child with special needs is $11,650. For taxable years beginning in 2008, under § 23(b)(1) the maximum credit allowed for other adoptions is the amount of qualified adoption expenses up to $11,650. The available adoption credit begins to phase out under § 23(b)(2)(A) for taxpayers with modified adjusted gross income in excess of $174,730 and is completely phased out for taxpayers with modified adjusted gross income of $214,730 or more. (See section
3.15 of this revenue procedure for the adjusted items relating to adoption assistance programs.)
.04 Child Tax Credit. For taxable years beginning in 2008, the value used in § 24(d)(1)(B)(i) to determine the amount of credit under § 24 that may be refundable is $12,050.
.05 Hope and Lifetime Learning Credits.
(1) For taxable years beginning in 2008, the Hope Scholarship Credit under § 25A(b)(1) is an amount equal to 100 percent of qualified tuition and related expenses not in excess of $1,200 plus 50 percent of those expenses in excess of $1,200, but not in excess of $2,400. Accordingly, the maximum Hope Scholarship Credit allowable under § 25A(b)(1) for taxable years beginning in 2008 is $1,800.
(2) For taxable years beginning in 2008, a taxpayer’s modified adjusted gross income in excess of $48,000 ($96,000 for a joint return) is used to determine the reduction under § 25A(d)(2)(A)(ii) in the amount of the Hope Scholarship and Lifetime Learning Credits otherwise allowable under § 25A(a).
.06 Elective Deferrals and IRA Contributions by Certain Individuals. For taxable years beginning in 2008, the applicable percentage under § 25B(b) is determined based on the following amounts:
.07 Earned Income Credit.
(1) In general. For taxable years beginning in 2008, the following amounts are used to determine the earned income credit under § 32(b). The “earned income amount” is the amount of earned income at or above which the maximum amount of the earned income credit is allowed. The “threshold phaseout amount” is the amount of adjusted gross income (or, if greater, earned income) above which the maximum amount of the credit begins to phase out. The “completed phaseout amount” is the amount of adjusted gross income (or, if greater, earned income) at or above which no credit is allowed.
The instructions for the Form
1040 series provide tables showing the amount of the earned income credit for each type of taxpayer.
(2) Excessive investment income. For taxable years beginning in 2008, the earned income tax credit is not allowed under § 32(i) if the aggregate amount of certain investment income exceeds $2,950.
.08 Low-Income Housing Credit. For calendar year 2008, the amount used under § 42(h)(3)(C)(ii) to calculate the State housing credit ceiling for the low-income housing credit is the greater of (1) $2.00 multiplied by the State population, or (2) $2,325,000.
.09 Alternative Minimum Tax Exemption for a Child Subject to the “Kiddie Tax.” For taxable years beginning in 2008, for a child to whom the § 1(g) “kiddie tax” applies, the exemption amount under §§ 55 and
59
(j) for purposes of the alternative minimum tax under § 55 may not exceed the sum of (1) the child’s earned income for the taxable year, plus (2) $6,400.
.10 Transportation Mainline Pipeline Construction Industry Optional Expense Substantiation Rules for Payments to Employees under Accountable Plans. For calendar year 2008, an eligible employer may pay certain welders and heavy equipment mechanics an amount of up to $15 per hour for rig-related expenses that is deemed substantiated under an accountable plan if paid in accordance with Rev. Proc. 2002–41. If the employer provides fuel or otherwise reimburses fuel expenses, up to $9 per hour is deemed substantiated if paid under Rev. Proc. 2002–41.
.11 Standard Deduction.
(1) In general. For taxable years beginning in 2008, the standard deduction amounts under § 63(c)(2) are as follows:
(2) Dependent. For taxable years beginning in 2008, the standard deduction amount under § 63(c)(5) for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of (1) $900, or (2) the sum of $300 and the individual’s earned income.
(3) Aged or blind. For taxable years beginning in 2008, the additional standard deduction amount under § 63(f) for the aged or the blind is $1,050. These amounts are increased to $1,350 if the individual is also unmarried and not a surviving spouse.
.12 Overall Limitation on Itemized Deductions. For taxable years beginning in 2008, the “applicable amount” of adjusted gross income under § 68(b), above which the amount of otherwise allowable itemized deductions is reduced under § 68, is $159,950 (or $79,975 for a separate return filed by a married individual).
.13 Qualified Transportation Fringe. For taxable years beginning in 2008, the monthly limitation under § 132(f)(2)(A), regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass, is $115. The monthly limitation under § 132(f)(2)(B), regarding the fringe benefit exclusion amount for qualified parking, is $220.
.14 Income from United States Savings Bonds for Taxpayers Who Pay Qualified Higher Education Expenses. For taxable years beginning in 2008, the exclusion under § 135, regarding income from United States savings bonds for taxpayers who pay qualified higher education expenses, begins to phase out for modified adjusted gross income above $100,650 for joint returns and $67,100 for other returns. The exclusion is completely phased out for modified adjusted gross income of $130,650 or more for joint returns and $82,100 or more for other returns.
.15 Adoption Assistance Programs. For taxable years beginning in 2008, under § 137(a)(2) the amount that can be excluded from an employee’s gross income for the adoption of a child with special needs is $11,650. For taxable years beginning in 2008, under § 137(b)(1) the maximum amount that can be excluded from an employee’s gross income for the amounts paid or expenses incurred by an employer for qualified adoption expenses furnished pursuant to an adoption assistance program for other adoptions by the employee is $11,650. The amount excludable from an employee’s gross income begins to phase out under § 137(b)(2)(A) for taxpayers with modified adjusted gross income in excess of $174,730 and is completely phased out for taxpayers with modified adjusted gross income of $214,730 or more. (See section
3.03 of this revenue procedure for the adjusted items relating to the adoption credit.)
.16 Private Activity Bonds Volume Cap. For calendar year 2008, the amounts used under § 146(d)(1) to calculate the State ceiling for the volume cap for private activity bonds is the greater of (1) $85 multiplied by the State population, or (2) $262,095,000.
.17 General Arbitrage Rebate Rules. For bond years ending in 2008, the amount of the computation credit determined under § 1.148–3(d)(4) of the proposed Income Tax Regulations is $1,430.
.18 Safe Harbor Rules for Broker Commissions on Guaranteed Investment Contracts or Investments Purchased for a Yield Restricted Defeasance Escrow. For calendar year 2008, under § 1.148–5(e)(2)(iii)(B)(1), a broker’s commission or similar fee for the acquisition of a guaranteed investment contract or investments purchased for a yield restricted defeasance escrow is reasonable if (1) the amount of the fee that the issuer treats as a qualified administrative cost does not exceed the lesser of (A) $34,000, and (B) 0.2 percent of the computational base (as defined in § 1.148–5(e)(2)(iii)(B)(2)) or, if more, $3,000; and (2) the issuer does not treat more than $95,000 in brokers’ commissions or similar fees as qualified administrative costs for all guaranteed investment contracts and investments for yield restricted defeasance escrows purchased with gross proceeds of the issue.
.19 Personal Exemption.
(1) Exemption amount. For taxable years beginning in 2008, the personal exemption amount under § 151(d) is $3,500. The exemption amount for taxpayers with adjusted gross income in excess of the maximum phaseout amount is $2,333 for taxable years beginning in 2008.
(2) Phaseout. For taxable years beginning in 2008, the personal exemption amount begins to phase out at, and reaches the maximum phaseout amount after, the following adjusted gross income amounts:
.20 Election to Expense Certain Depreciable Assets. For taxable years beginning in 2008, under § 179(b)(1) the aggregate cost of any § 179 property a taxpayer may elect to treat as an expense can not exceed $128,000. Under § 179(b)(2) the $128,000 limitation is reduced (but not below zero) by the amount by which the cost of § 179 property placed in service during the 2008 taxable year exceeds $510,000.
.21 Eligible Long-Term Care Premiums. For taxable years beginning in 2008, the limitations under § 213(d)(10), regarding eligible long-term care premiums includible in the term “medical care,” are as follows:
.22 Retirement Savings.
(1) For taxable years beginning in 2008, the applicable dollar amount under § 219(g)(3)(B)(i) for taxpayers filing a joint return is $85,000. If the taxpayer’s spouse is not an active participant, the applicable dollar amount for the spouse under § 219(g)(3)(B)(i) is $159,000 for taxable years beginning in 2008.
(2) For taxable years beginning in 2008, the applicable dollar amount under § 219(g)(3)(B)(ii) for all other taxpayers (except for married taxpayers filing separately) is $53,000.
(3) The applicable dollar amount under § 219(g)(3)(B)(iii) for married taxpayers filing separately is $0.
.23 Medical Savings Accounts.
(1) Self-only coverage. For taxable years beginning in 2008, the term “high deductible health plan” as defined in § 220(c)(2)(A) means, for self-only coverage, a health plan that has an annual deductible that is not less than $1,950 and not more than $2,900, and under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits does not exceed $3,850.
(2) Family coverage. For taxable years beginning in 2008, the term “high deductible health plan” means, for family coverage, a health plan that has an annual deductible that is not less than $3,850 and not more than $5,800, and under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits does not exceed $7,050.
.24 Interest on Education Loans. For taxable years beginning in 2008, the $2,500 maximum deduction for interest paid on qualified education loans under § 221 begins to phase out under § 221(b)(2)(B) for taxpayers with modified adjusted gross income in excess of $55,000 ($115,000 for joint returns), and is completely phased out for taxpayers with modified adjusted gross income of $70,000 or more ($145,000 or more for joint returns).
.25 Roth IRAs.
(1) For taxable years beginning in 2008, the applicable dollar amount under § 408A(c)(3)(C)(ii)(I) for taxpayers filing a joint return is $159,000.
(2) For taxable years beginning in 2008, the applicable dollar amount under § 408A(c)(3)(C)(ii)(II) for all other taxpayers (except for married taxpayers filing separately) is $101,000.
(3) The applicable dollar amount under § 408A(c)(3)(C)(ii)(III) for married taxpayers filing separately is $0.
.26 Treatment of Dues Paid to Agricultural or Horticultural Organizations. For taxable years beginning in 2008, the limitation under § 512(d)(1), regarding the exemption of annual dues required to be paid by a member to an agricultural or horticultural organization, is $139.
.27 Insubstantial Benefit Limitations for Contributions Associated with Charitable Fund-Raising Campaigns.
(1) Low cost article. For taxable years beginning in 2008, the unrelated business income of certain exempt organizations under § 513(h)(2) does not include a “low cost article” of $9.10 or less.
(2) Other insubstantial benefits. For taxable years beginning in 2008, the $5, $25, and $50 guidelines in section 3 of Rev. Proc. 90–12, 1990–1 C.B. 471 (as amplified by Rev. Proc. 92–49, 1992–1 C.B. 987, and modified by Rev. Proc. 92–102, 1992–2 C.B. 579), for disregarding the value of insubstantial benefits received by a donor in return for a fully deductible charitable contribution under § 170, are $9.10, $45.50, and $91, respectively.
.28 Funeral Trusts. For a contract entered into during calendar year 2008 for a “qualified funeral trust,” as defined in § 685, the trust may not accept aggregate contributions by or for the benefit of an individual in excess of $9,000.
.29 Expatriation to Avoid Tax. For calendar year 2008, an individual with “average annual net income tax” of more than $139,000 for the five taxable years ending before the date of the loss of United States citizenship under § 877(a)(2)(A) is subject to tax under § 877(b).
.30 Foreign Earned Income Exclusion. For taxable years beginning in 2008, the foreign earned income exclusion amount under § 911(b)(2)(D)(i) is $87,600.
.31 Valuation of Qualified Real Property in Decedent’s Gross Estate. For an estate of a decedent dying in calendar year 2008, if the executor elects to use the special use valuation method under § 2032A for qualified real property, the aggregate decrease in the value of qualified real property resulting from electing to use § 2032A for purposes of the estate tax can not exceed $960,000.
.32 Annual Exclusion for Gifts.
(1) For calendar year 2008, the first $12,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts under § 2503 made during that year.
(2) For calendar year 2008, the first $128,000 of gifts to a spouse who is not a citizen of the United States (other than gifts of future interests in property) are not included in the total amount of taxable gifts under §§ 2503 and
2523
(i)(2) made during that year.
.33 Tax on Arrow Shafts. For calendar year 2008, the tax imposed under § 4161(b)(2)(A) on the first sale by the manufacturer, producer, or importer of any shaft of a type used in the manufacture of certain arrows is $0.43 per shaft.
.34 Reporting Exception for Certain Exempt Organizations with Nondeductible Lobbying Expenditures. For taxable years beginning in 2008, the annual per person, family, or entity dues limitation to qualify for the reporting exception under § 6033(e)(3) (and section
5.05 of Rev. Proc. 98–19, 1998–1 C.B. 547), regarding certain exempt organizations with nondeductible lobbying expenditures, is $97 or less.
.35 Notice of Large Gifts Received from Foreign Persons. For taxable years beginning in 2008, recipients of gifts from certain foreign persons may be required to report these gifts under § 6039F if the aggregate value of gifts received in a taxable year exceeds $13,561.
.36 Persons Against Whom a Federal Tax Lien Is Not Valid. For calendar year 2008, a federal tax lien is not valid against (1) certain purchasers under § 6323(b)(4) who purchased personal property in a casual sale for less than $1,320, or (2) a mechanic’s lienor under § 6323(b)(7) that repaired or improved certain residential property if the contract price with the owner is not more than $6,600.
.37 Property Exempt from Levy. For calendar year 2008, the value of property exempt from levy under § 6334(a)(2) (fuel, provisions, furniture, and other household personal effects, as well as arms for personal use, livestock, and poultry) can not exceed $7,900. The value of property exempt from levy under § 6334(a)(3) (books and tools necessary for the trade, business, or profession of the taxpayer) can not exceed $3,950.
.38 Interest on a Certain Portion of the Estate Tax Payable in Installments. For an estate of a decedent dying in calendar year 2008, the dollar amount used to determine the “2-percent portion” (for purposes of calculating interest under § 6601(j)) of the estate tax extended as provided in § 6166 is $1,280,000.
.39 Attorney Fee Awards. For fees incurred in calendar year 2008, the attorney fee award limitation under § 7430(c)(1)(B)(iii) is $170 per hour.
.40 Periodic Payments Received under Qualified Long-Term Care Insurance Contracts or under Certain Life Insurance Contracts. For calendar year 2008, the stated dollar amount of the per diem limitation under § 7702B(d)(4), regarding periodic payments received under a qualified long-term care insurance contract or periodic payments received under a life insurance contract that are treated as paid by reason of the death of a chronically ill individual, is $270.
Section
4. Effective Date
.01 General Rule. Except as provided in section
4.02, this revenue procedure applies to taxable years beginning in 2008.
.02 Calendar Year Rule. This revenue procedure applies to transactions or events occurring in calendar year 2008 for purposes of sections
3.08 (low-income housing credit), 3.10 (transportation mainline pipeline construction industry optional expense substantiation rules for payments to employees under accountable plans), 3.16 (private activity bond volume cap), 3.17 (general arbitrage rebate rules), 3.18 (safe harbor rules for broker commissions on guaranteed investment contracts or investments purchased for a yield restricted defeasance escrow), 3.28 (funeral trusts), 3.29 (expatriation to avoid tax), 3.31 (valuation of qualified real property in decedent’s gross estate), 3.32 (annual exclusion for gifts), 3.33 (tax on arrow shafts), 3.36 (persons against whom a federal tax lien is not valid), 3.37 (property exempt from levy), 3.38 (interest on a certain portion of the estate tax payable in installments), 3.39 (attorney fee awards), and 3.40 (periodic payments received under qualified long-term care insurance contracts or under certain life insurance contracts).
Section
5. Drafting Information
[Omitted–related to author of this revenue procedure.]
Inflation adjusted items for certain prior tax years were contained in the following: Revenue Procedure 2006–53 provided for inflation adjusted items for tax years beginning in 2007. Revenue Procedure 2005–70 provided for inflation adjusted items for tax years beginning in 2006. Revenue Procedure 2004–71 provided for inflation adjusted items for tax years beginning in 2005. Revenue Procedure 2003–85 provided inflation adjusted items for tax years beginning in 2004. Revenue Procedure 2002–70 provided inflation adjusted items for tax years beginning in 2003. Revenue Procedure 2001–59 provided inflation adjusted items for tax years beginning in 2002. Revenue Procedure 2001–13 provided inflation adjusted items for tax years beginning in 2001. Revenue Procedure 99–42 provided inflation adjusted items for tax years beginning in 2000. Revenue Procedure 98–61 provided inflation adjusted items for tax years beginning in 1999. Revenue Procedure 97–57 provided inflation adjusted items for tax years beginning in 1998. Revenue Procedure 96–59 provided inflation adjusted items for tax years beginning in 1997. Revenue Procedure 95–53 provided inflation adjusted items for tax years beginning in 1996. Revenue Procedure 94–72 provided inflation adjusted items for tax years beginning in 1995. Revenue Procedure 93–49 provided inflation adjusted items for tax years beginning in 1994. Revenue Procedure 92–102 provided inflation adjusted items for tax years beginning in 1993. Revenue Procedure 91–65 provided inflation adjusted items for tax years beginning in 1992. Revenue Procedure 90–64 provided inflation adjusted items for tax years beginning in 1991. Revenue Procedure 90–7 provided inflation adjusted items for tax years beginning in 1990. Revenue Procedure 88–56 provided inflation adjusted items for tax years beginning in 1989. Revenue Procedure 85–55 provided income tax cost-of-living adjustment (indexing) factor with respect to taxable years beginning in 1986. Revenue Procedure 84–79 provided income tax cost-of-living adjustment (indexing) factor with respect to taxable years beginning in 1985.
See Effective and Termination Dates of 2003 Amendment note below.
TITLE 26 > Subtitle A > CHAPTER 1 > Subchapter A > PART I > § 1
NOTES:
Source
(Aug. 16, 1954, ch. 736, 68A Stat. 5; Pub. L. 88–272, title I, § 111, Feb. 26, 1964, 78 Stat. 19; Pub. L. 89–809, title I, § 103(a)(2), Nov. 13, 1966, 80 Stat. 1550; Pub. L. 91–172, title VIII, § 803(a), Dec. 30, 1969, 83 Stat. 678; Pub. L. 95–30, title I, § 101(a), May 23, 1977, 91 Stat. 127; Pub. L. 95–600, title I, § 101(a), Nov. 6, 1978, 92 Stat. 2767; Pub. L. 97–34, title I, §§ 101(a),
104
(a), Aug. 13, 1981, 95 Stat. 176, 188; Pub. L. 97–448, title I, § 101(a)(3), Jan. 12, 1983, 96 Stat. 2366; Pub. L. 99–514, title I, § 101(a), title III, § 302(a), title XIV, § 1411(a), Oct. 22, 1986, 100 Stat. 2096, 2218, 2714; Pub. L. 100–647, title I, §§ 1001(a)(3),
1014
(e)(1)–(3), (6), (7), title VI, § 6006(a), Nov. 10, 1988, 102 Stat. 3349, 3561, 3562, 3686; Pub. L. 101–239, title VII, §§ 7811(j)(1),
7816
(b),
7831
(a), Dec. 19, 1989, 103 Stat. 2411, 2420, 2425; Pub. L. 101–508, title XI, §§ 11101(a)–(c), (d)(1)(A), (2), 11103(c), 11104(b), Nov. 5, 1990, 104 Stat. 1388–403 to 1388–406, 1388–408; Pub. L. 103–66, title XIII, §§ 13201(a), (b)(3)(A), (B),
13202
(a),
13206
(d)(2), Aug. 10, 1993, 107 Stat. 457, 459, 461, 467; Pub. L. 104–188, title I, § 1704(m)(1), (2), Aug. 20, 1996, 110 Stat. 1882, 1883; Pub. L. 105–34, title III, § 311(a), Aug. 5, 1997, 111 Stat. 831; Pub. L. 105–206, title V, § 5001(a)(1)–(4), title VI, §§ 6005(d)(1),
6007
(f)(1), July 22, 1998, 112 Stat. 787, 788, 800, 810; Pub. L. 105–277, div. J, title IV, § 4002(i)(1), (3), Oct. 21, 1998, 112 Stat. 2681–907, 2681–908; Pub. L. 106–554, § 1(a)(7) [title I, § 117(b)(1)], Dec. 21, 2000, 114 Stat. 2763, 2763A–604; Pub. L. 107–16, title I, § 101(a), (c)(1), (2), title III, §§ 301(c)(1),
302
(a), (b), June 7, 2001, 115 Stat. 41, 43, 54; Pub. L. 108–27, title I, §§ 102(a), (b)(1),
104
(a), (b),
105
(a), title III, §§ 301(a)(1), (2)(A), (b)(1),
302
(a), (e)(1), May 28, 2003, 117 Stat. 754, 755, 758, 760, 763; Pub. L. 108–311, title I, § 101(c), (d), title IV, §§ 402(a)(1)–(3), 408(a)(1), (2), Oct. 4, 2004, 118 Stat. 1167, 1168, 1184, 1190; Pub. L. 108–357, title IV, § 413(c)(1), Oct. 22, 2004, 118 Stat. 1506; Pub. L. 109–222, title V, § 510(a)—(c), May 17, 2006, 120 Stat. 364; Pub. L. 110–28, title VIII, § 8241(a), (b), May 25, 2007, 121 Stat. 199.)
Amendment of Section
For termination of amendment by section 105 of Pub. L. 108–311, see Effective and Termination Dates of 2004 Amendments note below. For termination of amendment by sections 107 and 303 of Pub. L. 108–27, see Effective and Termination Dates of 2003 Amendment note below. For termination of amendment by section 901 of Pub. L. 107–16, see Effective and Termination Dates of 2001 Amendment note below.
Tax Tables for Taxable Years Beginning in 2008
Revenue Procedure 2007–66 provided: Section 1. Purpose This revenue procedure sets forth inflation adjusted items for 2008. Section 2. Changes .01 The excise taxes imposed under § 4261(b) and (c), as enacted by the Airport and Airway Trust Fund Tax Reinstatement Act of 1997 and extended by § 149(a) of Pub. L. No. 110–92, 121 Stat. 989 (2007), apply to transportation taken through November 16, 2007, and to amounts paid on or before November 16, 2007, for transportation beginning after that date. Accordingly, the amounts in § 4261(b) and (c) are not included in this revenue procedure. .02 For 2008, the inflation adjusted items in §§ 25B, 219, and 408A also will be included in a separate news release and related notice with other inflation adjusted amounts relating to pension and retirement accounts. For future years, these amounts will not be included in this revenue procedure but will appear only in the separate news release and related notice. .03 For taxable years beginning after 2007, the inflation adjusted items for health savings accounts under § 223 are published no later than June 1 of the preceding calendar year. See § 223(g) and Rev. Proc. 2007–36, 2007–22 I.R.B. 1335. Accordingly, these items are not included in this revenue procedure. .04 Section 1.148–3(d)(1)(iv) of the proposed Income Tax Regulations provides that on the last day of each bond year during which there are amounts allocated to gross proceeds of an issue that are subject to the rebate requirement, and on the final maturity date, there can be included as a payment a computation credit of $1,400 for any bond year ending in 2007. For bond years ending after 2007, the $1,400 computation credit will be adjusted for inflation pursuant to proposed § 1.148–3(d)(4). See section 3.17 of this revenue procedure. Section 3. 2008 Adjusted Items .01 Tax Rate Tables. For taxable years beginning in 2008, the tax rate tables under § 1 are as follows:
| If Taxable Income Is: | The Tax Is: |
|---|---|
| Not over $16,050 | 10% of the taxable income |
| Over $16,050 but not over $65,100 | $1,605 plus 15% of the excess over $16,050 |
| Over $65,100 but not over $131,450 | $8,962.50 plus 25% of the excess over $65,100 |
| Over $131,450 but not over $200,300 | $25,550 plus 28% of the excess over $131,450 |
| Over $200,300 but not over $357,700 | $44,828 plus 33% of the excess over $200,300 |
| Over $357,700 | $96,770 plus 35% of the excess over $357,700 |
| If Taxable Income Is: | The Tax Is: |
|---|---|
| Not over $11,450 | 10% of the taxable income |
| Over $11,450 but not over $43,650 | $1,145 plus 15% of the excess over $11,450 |
| Over $43,650 but not over $112,650 | $5,975 plus 25% of the excess over $43,650 |
| Over $112,650 but not over $182,400 | $23,225 plus 28% of the excess over $112,650 |
| Over $182,400 but not over $357,700 | $42,755 plus 33% of the excess over $182,400 |
| Over $357,700 | $100,604 plus 35% of the excess over $357,700 |
| If Taxable Income Is: | The Tax Is: |
|---|---|
| Not over $8,025 | 10% of the taxable income |
| Over $8,025 but not over $32,550 | $802.50 plus 15% of the excess over $8,025 |
| Over $32,550 but not over $78,850 | $4,481.25 plus 25% of the excess over $32,550 |
| Over $78,850 but not over $164,550 | $16,056.25 plus 28% of the excess over $78,850 |
| Over $164,550 but not over $357,700 | $40,052.25 plus 33% of the excess over $164,550 |
| Over $357,700 | $103,791.75 plus 35% of the excess over $357,700 |
| If Taxable Income Is: | The Tax Is: |
|---|---|
| Not over $8,025 | 10% of the taxable income |
| Over $8,025 but not over $32,550 | $802.50 plus 15% of the excess over $8,025 |
| Over $32,550 but not over $65,725 | $4,481.25 plus 25% of the excess over $32,550 |
| Over $65,725 but not over $100,150 | $12,775 plus 28% of the excess over $65,725 |
| Over $100,150 but not over $178,850 | $22,414 plus 33% of the excess over $100,150 |
| Over $178,850 | $48,385 plus 35% of the excess over $178,850 |
| If Taxable Income Is: | The Tax Is: |
|---|---|
| Not over $2,200 | 15% of the taxable income |
| Over $2,200 but not over $5,150 | $330 plus 25% of the excess over $2,200 |
| Over $5,150 but not over $7,850 | $1,067.50 plus 28% of the excess over $5,150 |
| Over $7,850 but not over $10,700 | $1,823.50 plus 33% of the excess over $7,850 |
| Over $10,700 | $2,764 plus 35% of the excess over $10,700 |
| Joint Return | Over | Not Over | Head of Household | Over | Not Over | All Other Cases | Over | Not Over | Applicable Percentage | |
|---|---|---|---|---|---|---|---|---|---|---|
| $0 | $32,000 | $0 | $24,000 | $0 | $16,000 | 50% | ||||
| $32,000 | $34,500 | $24,000 | $25,875 | $16,000 | $17,250 | 20% | ||||
| $34,500 | $53,0000 | $25,875 | $39,750 | $17,250 | $26,500 | 10% | ||||
| $53,000 | $39,750 | $26,500 | 0% |
| Item | Number of Qualifying Children | One | Two or More | None | |
|---|---|---|---|---|---|
| Earned Income Amount | $ 8,580 | $12,060 | $ 5,720 | ||
| Maximum Amount of Credit | $ 2,917 | $ 4,824 | $ 438 | ||
| Threshold Phaseout Amount (Single, Surviving Spouse, or Head of Household) | $15,740 | $15,740 | $ 7,160 | ||
| Completed Phaseout Amount (Single, Surviving Spouse, or Head of Household) | $33,995 | $38,646 | $12,880 | ||
| Threshold Phaseout Amount (Married Filing Jointly) | $18,740 | $18,740 | $10,160 | ||
| Completed Phaseout Amount (Married Filing Jointly) | $36,995 | $41,646 | $15,880 |
| Filing Status | Standard Deduction |
|---|---|
| Married Individuals Filing Joint Returns and Surviving Spouses (§ 1(a)) | $10,900 |
| Heads of Households (§ 1(b)) | $8,000 |
| Unmarried Individuals (other than Surviving Spouses and Heads of Households) (§ 1(c)) | $5,450 |
| Married Individuals Filing Separate Returns (§ 1(d)) | $5,450 |
| Filing Status | AGI—Beginning of Phaseout | AGI—Maximum Phaseout |
|---|---|---|
| Married Individuals Filing Joint Returns and Surviving Spouses (§ 1(a)) | $239,950 | $362,450 |
| Heads of Households (§ 1(b)) | $199,950 | $322,450 |
| Unmarried Individuals (other than Surviving Spouses and Heads of Households) (§ 1(c)) | $159,950 | $282,450 |
| Married Individuals Filing Separate Returns (§ 1(d)) | $119,975 | $181,225 |
| Attained Age Before the Close of the Taxable Year | Limitation on Premiums |
|---|---|
| 40 or less | $ 310 |
| More than 40 but not more than 50 | $ 580 |
| More than 50 but not more than 60 | $1,150 |
| More than 60 but not more than 70 | $3,080 |
| More than 70 | $3,850 |
Tax Tables for Prior Tax Years
Inflation adjusted items for certain prior tax years were contained in the following: Revenue Procedure 2006–53 provided for inflation adjusted items for tax years beginning in 2007. Revenue Procedure 2005–70 provided for inflation adjusted items for tax years beginning in 2006. Revenue Procedure 2004–71 provided for inflation adjusted items for tax years beginning in 2005. Revenue Procedure 2003–85 provided inflation adjusted items for tax years beginning in 2004. Revenue Procedure 2002–70 provided inflation adjusted items for tax years beginning in 2003. Revenue Procedure 2001–59 provided inflation adjusted items for tax years beginning in 2002. Revenue Procedure 2001–13 provided inflation adjusted items for tax years beginning in 2001. Revenue Procedure 99–42 provided inflation adjusted items for tax years beginning in 2000. Revenue Procedure 98–61 provided inflation adjusted items for tax years beginning in 1999. Revenue Procedure 97–57 provided inflation adjusted items for tax years beginning in 1998. Revenue Procedure 96–59 provided inflation adjusted items for tax years beginning in 1997. Revenue Procedure 95–53 provided inflation adjusted items for tax years beginning in 1996. Revenue Procedure 94–72 provided inflation adjusted items for tax years beginning in 1995. Revenue Procedure 93–49 provided inflation adjusted items for tax years beginning in 1994. Revenue Procedure 92–102 provided inflation adjusted items for tax years beginning in 1993. Revenue Procedure 91–65 provided inflation adjusted items for tax years beginning in 1992. Revenue Procedure 90–64 provided inflation adjusted items for tax years beginning in 1991. Revenue Procedure 90–7 provided inflation adjusted items for tax years beginning in 1990. Revenue Procedure 88–56 provided inflation adjusted items for tax years beginning in 1989. Revenue Procedure 85–55 provided income tax cost-of-living adjustment (indexing) factor with respect to taxable years beginning in 1986. Revenue Procedure 84–79 provided income tax cost-of-living adjustment (indexing) factor with respect to taxable years beginning in 1985.
Amendments
2007—Subsec. (g). Pub. L. 110–28, § 8241(b), struck out “minor” before “children” in heading.
Subsec. (g)(2)(A). Pub. L. 110–28, § 8241(a), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “such child has not attained age 18 before the close of the taxable year,”.
2006—Subsec. (g)(2)(A). Pub. L. 109–222, § 510(a), substituted “age 18” for “age 14”.
Subsec. (g)(2)(C). Pub. L. 109–222, § 510(c), added subpar. (C).
Subsec. (g)(4)(C). Pub. L. 109–222, § 510(b), added subpar. (C).
2004—Subsec. (f)(8). Pub. L. 108–311, §§ 101(c),
105, temporarily amended par. (8) generally, substituting provisions relating to elimination of marriage penalty in 15-percent bracket for provisions relating to phaseout of marriage penalty in 15-percent bracket. See Effective and Termination Dates of 2004 Amendments note below.
Subsec. (g)(7)(B)(ii)(II). Pub. L. 108–311, § 408(a)(1), substituted “10 percent” for “10 percent.”
Subsec. (h)(1)(D)(i). Pub. L. 108–311, § 402(a)(1), inserted “(determined without regard to paragraph (11))” after “net capital gain”.
Subsec. (h)(6)(A)(ii)(I). Pub. L. 108–311, § 408(a)(2)(A), substituted “(4)(B)” for “(5)(B)”.
Subsec. (h)(6)(A)(ii)(II). Pub. L. 108–311, § 408(a)(2)(B), substituted “(4)(A)” for “(5)(A)”.
Subsec. (h)(10)(F) to (H). Pub. L. 108–357, § 413(c)(1)(A), inserted “and” at end of subpar. (F), redesignated subpar. (H) as (G), and struck out former subpar. (G) which read as follows: “a foreign investment company which is described in section
1246
(b)(1) and for which an election is in effect under section
1247; and”.
Subsec. (h)(11)(B)(iii)(I). Pub. L. 108–311, § 402(a)(2), substituted “substituting in section
246
(c)” for “substituting in section
246
(c)(1)”, “121-day period” for “120-day period”, and “91-day period” for “90-day period”.
Subsec. (h)(11)(C)(iii). Pub. L. 108–357, § 413(c)(1)(B), struck out “a foreign personal holding company (as defined in section
552), a foreign investment company (as defined in section
1246
(b)), or” before “a passive foreign investment”.
Subsec. (h)(11)(D)(ii). Pub. L. 108–311, § 402(a)(3), substituted “a taxpayer to whom this section applies” for “an individual”.
Subsec. (i)(1)(B)(i). Pub. L. 108–311, §§ 101(d)(1),
105, temporarily struck out “($12,000 in the case of taxable years beginning after December 31, 2004, and before January 1, 2008)” after “$14,000”. See Effective and Termination Dates of 2004 Amendments note below.
Subsec. (i)(1)(C). Pub. L. 108–311, §§ 101(d)(2),
105, temporarily reenacted heading without change and amended text generally, substituting provisions relating to inflation adjustment in calendar years after 2003 for such provisions in calendar years after 2000. See Effective and Termination Dates of 2004 Amendments note below.
2003—Subsec. (f)(8)(A). Pub. L. 108–27, §§ 102(b)(1),
107, temporarily substituted “2002” for “2004”. See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (f)(8)(B). Pub. L. 108–27, §§ 102(a),
107, temporarily inserted table item relating to years 2003 and 2004. See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(1)(B). Pub. L. 108–27, §§ 301(a)(1),
303, temporarily substituted “5 percent (0 percent in the case of taxable years beginning after 2007)” for “10 percent”. See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(1)(C). Pub. L. 108–27, §§ 301(a)(2)(A),
303, temporarily substituted “15 percent” for “20 percent”. See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(2). Pub. L. 108–27, §§ 301(b)(1)(A), (B),
303, temporarily redesignated par. (3) as (2) and struck out heading and text of former par. (2). Text read as follows:
“(A) Reduction in 10-percent rate.—In the case of any taxable year beginning after December 31, 2000, the rate under paragraph (1)(B) shall be 8 percent with respect to so much of the amount to which the 10-percent rate would otherwise apply as does not exceed qualified 5-year gain, and 10 percent with respect to the remainder of such amount.
“(B) Reduction in 20-percent rate.—The rate under paragraph (1)(C) shall be 18 percent with respect to so much of the amount to which the 20-percent rate would otherwise apply as does not exceed the lesser of—
“(i) the excess of qualified 5-year gain over the amount of such gain taken into account under subparagraph (A) of this paragraph; or
“(ii) the amount of qualified 5-year gain (determined by taking into account only property the holding period for which begins after December 31, 2000),
and 20 percent with respect to the remainder of such amount. For purposes of determining under the preceding sentence whether the holding period of property begins after December 31, 2000, the holding period of property acquired pursuant to the exercise of an option (or other right or obligation to acquire property) shall include the period such option (or other right or obligation) was held.” See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(3). Pub. L. 108–27, §§ 302(e)(1),
303, temporarily amended heading and text of par. (3) generally. Prior to amendment, text read as follows: “For purposes of this subsection, the term ‘adjusted net capital gain’ means net capital gain reduced (but not below zero) by the sum of—
“(A) unrecaptured section
1250 gain; and
“(B) 28-percent rate gain.” See Effective and Termination Dates of 2003 Amendment note below.
Pub. L. 108–27, §§ 301(b)(1)(B),
303, temporarily redesignated par. (4) as (3). Former par. (3) temporarily redesignated (2). See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(4) to (7). Pub. L. 108–27, §§ 301(b)(1)(B),
303, temporarily redesignated pars. (5) to (8) as (4) to (7), respectively. Former par. (4) temporarily redesignated (3). See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(8). Pub. L. 108–27, §§ 301(b)(1)(C),
303, temporarily redesignated par. (10) as (8). Former par. (8) temporarily redesignated (7). See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(9). Pub. L. 108–27, §§ 301(b)(1)(A), (C),
303, temporarily redesignated par. (11) as (9) and struck out heading and text of former par. (9). Text read as follows: “For purposes of this subsection, the term ‘qualified 5-year gain’ means the aggregate long-term capital gain from property held for more than 5 years. The determination under the preceding sentence shall be made without regard to collectibles gain, gain described in paragraph (7)(A)(i), and section
1202 gain.” See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(10). Pub. L. 108–27, §§ 301(b)(1)(C),
303, temporarily redesignated par. (12) as (10). Former par. (10) temporarily redesignated (8). See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(11). Pub. L. 108–27, §§ 302(a),
303, temporarily added par. (11). See Effective and Termination Dates of 2003 Amendment note below.
Pub. L. 108–27, §§ 301(b)(1)(C),
303, temporarily redesignated par. (11) as (9). See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (h)(12). Pub. L. 108–27, §§ 301(b)(1)(C),
303, temporarily redesignated par. (12) as (10). See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (i)(1)(B)(i). Pub. L. 108–27, §§ 104(a),
107, temporarily substituted “($12,000 in the case of taxable years beginning after December 31, 2004, and before January 1, 2008)” for “($12,000 in the case of taxable years beginning before January 1, 2008)”. See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (i)(1)(C). Pub. L. 108–27, §§ 104(b),
107, temporarily amended heading and text of subpar. (C) generally. Text read as follows: “In prescribing the tables under subsection (f) which apply with respect to taxable years beginning in calendar years after 2000—
“(i) the Secretary shall make no adjustment to the initial bracket amount for any taxable year beginning before January 1, 2009,
“(ii) the cost-of-living adjustment used in making adjustments to the initial bracket amount for any taxable year beginning after December 31, 2008, shall be determined under subsection (f)(3) by substituting ‘2007’ for ‘1992’ in subparagraph (B) thereof, and
“(iii) such adjustment shall not apply to the amount referred to in subparagraph (B)(iii).
If any amount after adjustment under the preceding sentence is not a multiple of $50, such amount shall be rounded to the next lowest multiple of $50.” See Effective and Termination Dates of 2003 Amendment note below.
Subsec. (i)(2). Pub. L. 108–27, §§ 105(a),
107, temporarily amended table generally. Prior to amendment, table read as follows:
| “In the case of taxable years beginning during calendar year: | The corresponding percentages shall be substituted for the following percentages: | 28% | 31% | 36% | 39.6% | |
|---|---|---|---|---|---|---|
| 2001 | 27.5% | 30.5% | 35.5% | 39.1% | ||
| 2002 and 2003 | 27.0% | 30.0% | 35.0% | 38.6% | ||
| 2004 and 2005 | 26.0% | 29.0% | 34.0% | 37.6% | ||
| 2006 and thereafter | 25.0% | 28.0% | 33.0% | 35.0%” |
2001—Subsec. (f). Pub. L. 107–16, §§ 302(b)(2),
901, temporarily substituted “Phaseout of marriage penalty in 15-percent bracket; adjustments” for “Adjustments” in heading. See Effective and Termination Dates of 2001 Amendment note below.
Subsec. (f)(2)(A). Pub. L. 107–16, §§ 302(b)(1),
901, temporarily inserted “except as provided in paragraph (8),” before “by increasing”. See Effective and Termination Dates of 2001 Amendment note below.
Subsec. (f)(6)(B). Pub. L. 107–16, §§ 301(c)(1),
901, temporarily substituted “(other than with respect to sections
63
(c)(4) and
151
(d)(4)(A)) shall be applied” for “(other than with respect to subsection (c)(4) of section
63 (as it applies to subsections (c)(5)(A) and (f) of such section) and section
151
(d)(4)(A)) shall be applied”. See Effective and Termination Dates of 2001 Amendment note below.
Subsec. (f)(8). Pub. L. 107–16, §§ 302(a),
901, temporarily added par. (8). See Effective and Termination Dates of 2001 Amendment note below.
Subsec. (g)(7)(B)(ii)(II). Pub. L. 107–16, §§ 101(c)(1),
901, temporarily substituted “10 percent.” for “15 percent”. See Effective and Termination Dates of 2001 Amendment note below.
Subsec. (h)(1)(A)(ii)(I), (B)(i). Pub. L. 107–16, §§ 101(c)(2)(A),
901, temporarily substituted “25 percent” for “28 percent”. See Effective and Termination Dates of 2001 Amendment note below.
Subsec. (h)(13). Pub. L. 107–16, §§ 101(c)(2)(B),
901, temporarily struck out par. (13), which set out special rules for determination of 28-percent rate gain, unrecaptured section
1250 gain, pass-thru entities, and charitable remainder trusts. See Effective and Termination Dates of 2001 Amendment note below.
Subsec. (i). Pub. L. 107–16, §§ 101(a),
901, temporarily added subsec. (i). See Effective and Termination Dates of 2001 Amendment note below.
2000—Subsec.(h)(8). Pub. L. 106–554 substituted “means the excess of—” and subpars. (A) and (B) for “means an amount equal to the gain excluded from gross income under section
1202
(a).”
1998—Subsec. (g)(3)(C), (D). Pub. L. 105–206, § 6007(f)(1), redesignated subpar. (D) as (C) and struck out heading and text of former subpar. (C). Text read as follows: “If tax is imposed under section
644
(a)(1) with respect to the sale or exchange of any property of which the parent was the transferor, for purposes of applying subparagraph (A) to the taxable year of the parent in which such sale or exchange occurs—
“(i) taxable income of the parent shall be increased by the amount treated as included in gross income under section
644
(a)(2)(A)(i), and
“(ii) the amount described in subparagraph (A)(ii) shall be increased by the amount of the excess referred to in section
644
(a)(2)(A).”
Subsec. (h). Pub. L. 105–206, § 6005(d)(1), reenacted subsec. heading without change and amended text of subsec. (h) generally, substituting present provisions comprising pars. (1) to (13) for former similar provisions comprising pars. (1) to (11).
Subsec. (h)(5). Pub. L. 105–206, § 5001(a)(1), amended par. (5) generally. Prior to amendment, par. (5) read as follows:
“(5) 28-percent rate gain.—For purposes of this subsection—
“(A) In general.—The term ‘28-percent rate gain’ means the excess (if any) of—
“(i) the sum of—
“(I) the aggregate long-term capital gain from property held for more than 1 year but not more than 18 months;
“(II) collectibles gain; and
“(III) section
1202 gain, over
“(ii) the sum of—
“(I) the aggregate long-term capital loss (not described in subclause (IV)) from property referred to in clause (i)(I);
“(II) collectibles loss;
“(III) the net short-term capital loss; and
“(IV) the amount of long-term capital loss carried under section
1212
(b)(1)(B) to the taxable year.
“(B) Special rules.—
“(i) Short sale gains and holding periods.—Rules similar to the rules of section
1233
(b) shall apply where the substantially identical property has been held more than 1 year but not more than 18 months; except that, for purposes of such rules—
“(I) section
1233
(b)(1) shall be applied by substituting ‘18 months’ for ‘1 year’ each place it appears; and
“(II) the holding period of such property shall be treated as being 1 year on the day before the earlier of the date of the closing of the short sale or the date such property is disposed of.
“(ii) Long-term losses.—Section
1233
(d) shall be applied separately by substituting ‘18 months’ for ‘1 year’ each place it appears.
“(iii) Options.—A rule similar to the rule of section
1092
(f) shall apply where the stock was held for more than 18 months.
“(iv) Section
1256 contracts.—Amounts treated as long-term capital gain or loss under section
1256
(a)(3) shall be treated as attributable to property held for more than 18 months.”
Subsec. (h)(6)(A). Pub. L. 105–206, § 5001(a)(2), substituted “1 year” for “18 months”.
Subsec. (h)(7)(A)(i), (ii). Pub. L. 105–206, § 5001(a)(3), amended cls. (i) and (ii) generally. Prior to amendment, cls. (i) and (ii) read as follows:
“(i) the amount of long-term capital gain (not otherwise treated as ordinary income) which would be treated as ordinary income if—
“(I) section
1250
(b)(1) included all depreciation and the applicable percentage under section
1250
(a) were 100 percent, and
“(II) only gain from property held for more than 18 months were taken into account, over
“(ii) the excess (if any) of—
“(I) the amount described in paragraph (5)(A)(ii), over
“(II) the amount described in paragraph (5)(A)(i).”
Subsec. (h)(13). Pub. L. 105–206, § 5001(a)(4), struck out “for periods during 1997” after “Special rules” in par. heading and amended headings and text of subpars. (A) and (B) generally. Prior to amendment, subpars. (A) and (B) read as follows:
“(A) Determination of 28-percent rate gain.—In applying paragraph (5)—
“(i) the amount determined under subclause (I) of paragraph (5)(A)(i) shall include long-term capital gain (not otherwise described in paragraph (5)(A)(i)) which is properly taken into account for the portion of the taxable year before May 7, 1997;
“(ii) the amounts determined under subclause (I) of paragraph (5)(A)(ii) shall include long-term capital loss (not otherwise described in paragraph (5)(A)(ii)) which is properly taken into account for the portion of the taxable year before May 7, 1997; and
“(iii) clauses (i)(I) and (ii)(I) of paragraph (5)(A) shall be applied by not taking into account any gain and loss on property held for more than 1 year but not more than 18 months which is properly taken into account for the portion of the taxable year after May 6, 1997, and before July 29, 1997.
“(B) Other special rules.—
“(i) Determination of unrecaptured section
1250 gain not to include pre-may 7, 1997 gain.—The amount determined under paragraph (7)(A)(i) shall not include gain properly taken into account for the portion of the taxable year before May 7, 1997.
“(ii) Other transitional rules for 18-month holding period.—Paragraphs (6)(A) and (7)(A)(i)(II) shall be applied by substituting ‘1 year’ for ‘18 months’ with respect to gain properly taken into account for the portion of the taxable year after May 6, 1997, and before July 29, 1997.”
Subsec. (h)(13)(B). Pub. L. 105–277, § 4002(i)(1), substituted “paragraph (7)(A)(i)” for “paragraph (7)(A)” in introductory provisions.
Subsec. (h)(13)(D). Pub. L. 105–277, § 4002(i)(3), added subpar. (D).
1997—Subsec. (h). Pub. L. 105–34 amended heading and text of subsec. (h) generally. Prior to amendment, text read as follows: “If a taxpayer has a net capital gain for any taxable year, then the tax imposed by this section shall not exceed the sum of—
“(1) a tax computed at the rates and in the same manner as if this subsection had not been enacted on the greater of—
“(A) taxable income reduced by the amount of the net capital gain, or
“(B) the amount of taxable income taxed at a rate below 28 percent, plus
“(2) a tax of 28 percent of the amount of taxable income in excess of the amount determined under paragraph (1).
For purposes of the preceding sentence, the net capital gain for any taxable year shall be reduced (but not below zero) by the amount which the taxpayer elects to take into account as investment income for the taxable year under section
163
(d)(4)(B)(iii).”
1996—Subsec. (g)(7)(A)(ii). Pub. L. 104–188, § 1704(m)(1), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “such gross income is more than $500 and less than $5,000,”.
Subsec. (g)(7)(B)(i). Pub. L. 104–188, § 1704(m)(2)(A), substituted “twice the amount described in paragraph (4)(A)(ii)(I)” for “$1,000”.
Subsec. (g)(7)(B)(ii)(II). Pub. L. 104–188, § 1704(m)(2)(B), amended subcl. (II) generally. Prior to amendment, subcl. (II) read as follows: “for each such child, the lesser of $75 or 15 percent of the excess of the gross income of such child over $500, and”.
1993—Subsecs. (a) to (e). Pub. L. 103–66, §§ 13201(a),
13202
(a), amended subsecs. (a) to (e) generally, substituting five-tiered tax tables for all categories applicable to tax years after December 31, 1992, for prior three-tiered tax tables.
Subsec. (f)(1). Pub. L. 103–66, § 13201(b)(3)(A)(i), substituted “1993” for “1990”.
Subsec. (f)(3)(B). Pub. L. 103–66, § 13201(b)(3)(A)(ii), substituted “1992” for “1989”.
Subsec. (f)(7). Pub. L. 103–66, § 13201(b)(3)(B), added par. (7).
Subsec. (h). Pub. L. 103–66, § 13206(d)(2), inserted as concluding provision at end “For purposes of the preceding sentence, the net capital gain for any taxable year shall be reduced (but not below zero) by the amount which the taxpayer elects to take into account as investment income for the taxable year under section
163
(d)(4)(B)(iii).”
1990—Subsecs. (a) to (e). Pub. L. 101–508, § 11101(a), amended subsecs. (a) to (e) generally, substituting three-tiered tax tables for all categories applicable to tax years after Dec. 31, 1990, for prior two-tiered tax tables.
Subsec. (f)(1). Pub. L. 101–508, § 11101(d)(1)(A)(i), substituted “1990” for “1988”.
Subsec. (f)(3)(B). Pub. L. 101–508, § 11101(d)(1)(A)(ii), substituted “1989” for “1987”.
Subsec. (f)(6)(A). Pub. L. 101–508, § 11104(b)(1), substituted “section
151
(d)(4)” for “section
151
(d)(3)”.
Pub. L. 101–508, § 11101(b)(2), struck out “subsection (g)(4),” after “paragraph (2)(A),”.
Subsec. (f)(6)(B). Pub. L. 101–508, § 11104(b)(2), substituted “section
151
(d)(4)(A)” for “section
151
(d)(3)”.
Subsec. (g). Pub. L. 101–508, § 11101(d)(2), redesignated subsec. (i) as (g).
Pub. L. 101–508, § 11101(b)(1), struck out subsec. (g) which provided for phaseout of 15-percent rate and personal exemptions.
Subsec. (h). Pub. L. 101–508, § 11101(d)(2), redesignated subsec. (j) as (h) and struck out former subsec. (h) which provided tax schedules for taxable years beginning in 1987.
Subsec. (i). Pub. L. 101–508, § 11101(d)(2), redesignated subsec. (i) as (g).
Subsec. (j). Pub. L. 101–508, § 11101(d)(2), redesignated subsec. (j) as (h).
Pub. L. 101–508, § 11101(c), amended subsec. (j) generally. Prior to amendment, subsec. (j) read as follows:
“(1) In general.—If a taxpayer has a net capital gain for any taxable year to which this subsection applies, then the tax imposed by this section shall not exceed the sum of—
“(A) a tax computed at the rates and in the same manner as if this subsection had not been enacted on the greater of—
“(i) the taxable income reduced by the amount of net capital gain, or
“(ii) the amount of taxable income taxed at a rate below 28 percent, plus
“(B) a tax of 28 percent of the amount of taxable income in excess of the amount determined under subparagraph (A), plus
“(C) the amount of increase determined under subsection (g).
“(2) Years to which subsection applies.—This subsection shall apply to—
“(A) any taxable year beginning in 1987, and
“(B) any taxable year beginning after 1987 if the highest rate of tax set forth in subsection (a), (b), (c), (d), or (e) (whichever applies) for such taxable year exceeds 28 percent.”
1989—Subsec. (f)(6)(B). Pub. L. 101–239, § 7831(a), substituted “subsection (c)(4) of section
63 (as it applies to subsections (c)(5)(A) and (f) of such section) and section
151
(d)(3)” for “section
63
(c)(4)”.
Subsec. (i)(3)(C), (D). Pub. L. 101–239, § 7811(j)(1), redesignated subpar. (C), relating to special rule where parent has different taxable year, as (D).
Subsec. (i)(7)(A). Pub. L. 101–239, § 7816(b), inserted “(other than for purposes of this paragraph)” after “shall be treated” in concluding provisions.
1988—Subsec. (g)(2). Pub. L. 100–647, § 1001(a)(3), inserted provision relating to application of subpar. (B) at end of last sentence.
Subsec. (i)(3)(A). Pub. L. 100–647, § 1014(e)(2), substituted “any exclusion, deduction, or credit” for “any deduction or credit”.
Subsec. (i)(3)(C). Pub. L. 100–647, § 1014(e)(7), added subpar. (C) relating to special rule where parent has different taxable year.
Pub. L. 100–647, § 1014(e)(1), added subpar. (C) relating to coordination with section
644.
Subsec. (i)(4)(A)(i). Pub. L. 100–647, § 1014(e)(3)(A), substituted “adjusted gross income” for “gross income” and inserted “attributable to” after “which is not”.
Subsec. (i)(4)(A)(ii)(II). Pub. L. 100–647, § 1014(e)(3)(B)–(D), substituted “his deductions” for “his deduction”, “the itemized deductions allowed” for “the deductions allowed”, and “adjusted gross income” for “gross income”.
Subsec. (i)(5)(A). Pub. L. 100–647, § 1014(e)(6), substituted “custodial parent (within the meaning of section
152
(e))” for “custodial parent”.
Subsec. (i)(7). Pub. L. 100–647, § 6006(a), added par. (7).
1986—Subsecs. (a) to (e). Pub. L. 99–514, § 101(a), in amending subsecs. (a) to (e) generally, substituted a general tax table for tax tables (1), (2), and (3) in each subsec. applicable to taxable years beginning in 1982, 1983, and after 1983, respectively.
Subsec. (f). Pub. L. 99–514, § 101(a), in amending subsec. (f) generally, in par. (1) substituted “1988,” for “1984” and struck out “paragraph (3) of” before “subsections”, in par. (2) struck out “paragraph (3) of” before “subsection” in introductory provisions, substituted subpars. (A) to (C) for former subpars. (A) to (C) which read as follows:
“(A) by increasing—
“(i) the maximum dollar amount on which no tax is imposed under such table, and
“(ii) the minimum and maximum dollar amounts for each rate bracket for which a tax is imposed under such table,
by the cost-of-living adjustment for such calendar year,
“(B) by not changing the rate applicable to any rate bracket as adjusted under subparagraph (A)(ii), and
“(C) by adjusting the amounts setting forth the tax to the extent necessary to reflect the adjustments in the rate brackets.”,
and struck out concluding provisions which read as follows: “If any increase determined under subparagraph (A) is not a multiple of $10, such increase shall be rounded to the nearest multiple of $10 (or if such increase is a multiple of $5, such increase shall be increased to the next highest multiple of $10).”, in par. (3)(B) substituted “1987” for “1983”, in par. (4) substituted “August 31” for “September 30”, in par. (5) inserted requirement that the Consumer Price Index most consistent with such Index for calendar year 1986 be used, and added par. (6).
Subsecs. (g), (h). Pub. L. 99–514, § 101(a), in amending section generally, added subsecs. (g) and (h).
Subsec. (i). Pub. L. 99–514, § 1411(a), added subsec. (i).
Subsec. (j). Pub. L. 99–514, § 302(a), added subsec. (j).
1982—Subsecs. (d), (e). Pub. L. 97–448, § 101(a)(3), set out as a note below, provided for amendment of the tables applying to married individuals filing separately or to estates and trusts so as to correct any figure differing by not more than 50 cents from the correct amount under the formula used in constructing such table. Corrections to the tables in subsecs. (d) and (e) appeared in Announcement 83–50 contained in Internal Revenue Bulletin No. 1983–12 of Mar. 21, 1983.
1981—Subsecs. (a) to (e). Pub. L. 97–34, § 101(a), generally revised tax tables downward providing for cumulative across-the-board reductions of 23 percent on a three phase schedule under which different new rates were set for taxable years beginning in 1982, for taxable years beginning in 1983, and for taxable years beginning after 1983.
Subsec. (f). Pub. L. 97–34, § 104(a), added subsec. (f).
1978—Subsec. (a). Pub. L. 95–600 generally made a downward revision of tax table for married individuals filing joint returns and surviving spouses resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $3,400 or less was substituted for a bottom bracket imposing no tax on taxable income of $3,200 or less.
Subsec. (b). Pub. L. 95–600 generally made a downward revision of tax table for heads of household resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $2,300 or less was substituted for a bottom bracket imposing no tax on taxable income of $2,200 or less.
Subsec. (c). Pub. L. 95–600 generally made a downward revision of tax table for unmarried individuals other than surviving spouses and heads of households resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $2,300 or less was substituted for a bottom bracket imposing no tax on taxable income of $2,200 or less.
Subsec. (d). Pub. L. 95–600 generally made a downward revision of tax tables for married individuals filing separate returns resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $1,700 or less was substituted for a bottom bracket imposing no tax on taxable income of $1,600 or less.
Subsec. (e). Pub. L. 95–600 generally made a downward revision of tax tables for estates and trusts resulting in a table under which, among other changes, a bottom bracket under which a tax of 14% is imposed on taxable income of $1,050 for a bottom bracket under which a tax of 14% was imposed on taxable income of $500 or less.
1977—Subsec. (a). Pub. L. 95–30 generally made a downward revision of tax table for married individuals filing joint returns and surviving spouses resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $3,200 or less was substituted for a bottom bracket under which a tax of 14% had been imposed on a taxable income of $1,000 or less.
Subsec. (b). Pub. L. 95–30 generally made a downward revision of tax table for heads of households resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $2,200 or less was substituted for a bottom bracket under which a tax of 14% had been imposed on a taxable income of $1,000 or less.
Subsec. (c). Pub. L. 95–30 generally made a downward revision of tax table for unmarried individuals other than surviving spouses and heads of households resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $2,200 or less was substituted for a bottom bracket under which a tax of 14% had been imposed on a taxable income of $500 or less.
Subsec. (d). Pub. L. 95–30 generally made a downward revision of tax table for married individuals filing separate returns resulting in a table under which, among other changes, a bottom bracket imposing no tax on taxable income of $1,600 or less was substituted for a bottom bracket under which a tax of 14% had been imposed on a taxable income of $500 or less. Provisions making table applicable to estates and trusts were struck out. See subsec. (e).
Subsec. (e). Pub. L. 95–30 added subsec. (e) consisting of table formerly contained in subsec. (d) but without any downward revision and limited so as to apply only to estates and trusts.
1969—Subsec. (a). Pub. L. 91–172 substituted a table of rates of tax for married individuals filing joint returns and surviving spouses for the tables of rates of tax on individuals. For rates of taxes on unmarried individuals and married persons filing separate returns, see subsecs. (c) and (d) of this section.
Subsec. (b). Pub. L. 91–172 generally revised rates of tax of heads of household downwards and struck out provisions defining head of household, determination of status, and limitations. For definition of head of household, determination of status, and limitations, see section
2
(b) of this title.
Subsec. (c). Pub. L. 91–172 substituted rates of tax on unmarried individuals (other than surviving spouses and heads of household) for special rules explaining the rates of tax imposed under former subsecs. (a) and (b)(1) and prescribing a maximum limit of 87 percent of the taxable year.
Subsec. (d). Pub. L. 91–172 substituted a table of rates of tax for married individuals filing separate returns for provision prescribing the applicability of the rates to non-resident aliens. For applicability of rates of tax to non-resident aliens, see section
2
(d) of this title.
Subsec. (e). Pub. L. 91–172 struck out cross reference to section
63. See section
2
(e) of this title.
1966—Subsecs. (d), (e). Pub. L. 89–809 added subsec. (d) and redesignated former subsec. (d) as (e).
1964—Pub. L. 88–272 amended section generally by splitting the former first bracket which started at $2,000 into four new brackets, the 14 percent bracket representing a 30 percent reduction, the 15 percent bracket a 25 percent cut, and the 16 percent bracket a 20 percent cut, and reducing all other brackets by cuts averaging about 20 percent and effectuated these cuts in two steps, one in 1964, and one in 1965.
Effective Date of 2007 Amendment
Pub. L. 110–28, title VIII, § 8241(c), May 25, 2007, 121 Stat. 199, provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after the date of the enactment of this Act [May 25, 2007].”
Effective Date of 2006 Amendment
Pub. L. 109–222, title V, § 510(d), May 17, 2006, 120 Stat. 364, provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 2005.”
Effective and Termination Dates of 2004 Amendments
Pub. L. 108–357, title IV, § 413(d), Oct. 22, 2004, 118 Stat. 1510, provided that:
“(1) In general.—Except as provided in paragraph (2), the amendments made by this section [amending this section and sections
170,
171,
245,
312,
443,
465,
508,
542,
543,
562,
563,
751,
864,
898,
904,
951,
954,
989,
1014,
1016,
1212,
1223,
1248,
1260,
1291,
1294,
4947,
4948,
6103,
6501, and
6679 of this title and repealing sections
551 to
558,
1246,
1247, and
6035 of this title] shall apply to taxable years of foreign corporations beginning after December 31, 2004, and to taxable years of United States shareholders with or within which such taxable years of foreign corporations end.
“(2) Subsection (c)(27).—The amendments made by subsection (c)(27) [amending section
6103 of this title] shall apply to disclosures of return or return information with respect to taxable years beginning after December 31, 2004.”
Pub. L. 108–311, title I, § 101(e), Oct. 4, 2004, 118 Stat. 1168, provided that: “The amendments made by this section [amending this section and sections
24 and
63 of this title] shall apply to taxable years beginning after December 31, 2003.”
Pub. L. 108–311, title I, § 105, Oct. 4, 2004, 118 Stat. 1169, provided that: “Each amendment made by this title [amending this section and sections
24,
32,
55, and
63 of this title] shall be subject to title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 [Pub. L. 107–16, § 901, set out as an Effective and Termination Dates of 2001 Amendment note below] to the same extent and in the same manner as the provision of such Act to which such amendment relates.”
Pub. L. 108–311, title IV, § 402(b), Oct. 4, 2004, 118 Stat. 1186, provided that: “The amendments made by subsection (a) [amending this section and sections
691,
854, and
857 of this title and provisions set out as a note under this section] shall take effect as if included in section 302 of the Jobs and Growth Tax Relief Reconciliation Act of 2003 [Pub. L. 108–27].”
Effective and Termination Dates of 2003 Amendment
Pub. L. 108–27, title I, § 102(c), May 28, 2003, 117 Stat. 754, provided that: “The amendments made by this section [amending this section and provisions set out as a note under this section] shall apply to taxable years beginning after December 31, 2002.”
Pub. L. 108–27, title I, § 104(c), May 28, 2003, 117 Stat. 755, provided that:
“(1) In general.—The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 2002.
“(2) Tables for 2003.—The Secretary of the Treasury shall modify each table which has been prescribed under section 1(f) of the Internal Revenue Code of 1986 for taxable years beginning in 2003 and which relates to the amendment made by subsection (a) to reflect such amendment.”
Pub. L. 108–27, title I, § 105(b), May 28, 2003, 117 Stat. 755, provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 2002.”
Pub. L. 108–27, title I, § 107, May 28, 2003, 117 Stat. 755, provided that: “Each amendment made by this title [enacting section
6429 of this title, amending this section and sections
24,
55, and
63 of this title, and amending provisions set out as notes under this section] shall be subject to title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 [Pub. L. 107–16, § 901, set out as an Effective and Termination Dates of 2001 Amendment note below] to the same extent and in the same manner as the provision of such Act to which such amendment relates.”
Pub. L. 108–27, title III, § 301(d), May 28, 2003, 117 Stat. 760, provided that:
“(1) In general.—Except as otherwise provided by this subsection, the amendments made by this section [amending this section, sections
55,
57,
1445, and
7518 of this title, and section
1177 of Title
46, Appendix, Shipping] shall apply to taxable years ending on or after May 6, 2003.
“(2) Withholding.—The amendment made by subsection (a)(2)(C) [amending section
1445 of this title] shall apply to amounts paid after the date of the enactment of this Act [May 28, 2003].
“(3) Small business stock.—The amendments made by subsection (b)(3) [amending section
57 of this title] shall apply to dispositions on or after May 6, 2003.”
Pub. L. 108–27, title III, § 302(f), May 28, 2003, 117 Stat. 764, as amended by Pub. L. 108–311, title IV, § 402(a)(6), Oct. 4, 2004, 118 Stat. 1185, provided that:
“(1) In general.—Except as provided in paragraph (2), the amendments made by this section [amending this section and sections
163,
301,
306,
338,
467,
531,
541,
584,
702,
854,
857,
1255, and
1257 of this title and repealing section
341 of this title] shall apply to taxable years beginning after December 31, 2002.
“(2) Pass-thru entities.—In the case of a pass-thru entity described in subparagraph (A), (B), (C), (D), (E), or (F) of section 1(h)(10) of the Internal Revenue Code of 1986, as amended by this Act, the amendments made by this section shall apply to taxable years ending after December 31, 2002; except that dividends received by such an entity on or before such date shall not be treated as qualified dividend income (as defined in section 1(h)(11)(B) of such Code, as added by this Act).”
Pub. L. 108–27, title III, § 303, May 28, 2003, 117 Stat. 764, as amended by Pub. L. 109–222, title I, § 102, May 17, 2006, 120 Stat. 346, provided that: “All provisions of, and amendments made by, this title [amending this section, sections
55,
57,
163,
301,
306,
338,
467,
531,
541,
584,
702,
854,
857,
1255,
1257,
1445, and
7518 of this title, and section
1177 of Title
46, Appendix, Shipping, repealing section
341 of this title, and enacting provisions set out as notes under this section] shall not apply to taxable years beginning after December 31, 2010, and the Internal Revenue Code of 1986 shall be applied and administered to such years as if such provisions and amendments had never been enacted.”
Effective and Termination Dates of 2001 Amendment
Pub. L. 109–280, title VIII, § 811, Aug. 17, 2006, 120 Stat. 996, provided that: “Title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 [Pub. L. 107–16, § 901, set out below] shall not apply to the provisions of, and amendments made by, subtitles A through F of title VI of such Act [subtitles A to F [§§ 601–666] of title VI of Pub. L. 107–16, enacting sections
25B,
45E,
402A, and
4980F of this title, amending sections
24,
25,
25B,
26,
38,
39,
72,
132,
196,
219,
401,
402,
403,
404,
408,
408A,
409,
411,
412,
414 to
416,
457,
501,
505,
664,
861,
904,
1400C,
3401,
3405,
4972,
4973,
4975,
4979A,
6047, and
6051 of this title and sections
1003,
1053,
1054,
1082,
1104, and
1108 of Title
29, Labor, enacting provisions set out as notes under sections
24,
38,
72,
132,
219,
401,
402,
403,
404,
408,
409,
411,
412,
414 to
416,
457,
861,
4972,
4975,
4980F, and
7801 of this title and section
1107 of Title
29, and amending provisions set out as notes under section
414 of this title and section
1107 of Title
29] (relating to pension and individual retirement arrangement provisions).”
Pub. L. 109–280, title XIII, § 1304(a), Aug. 17, 2006, 120 Stat. 1109, provided that: “Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 [Pub. L. 107–16, set out below] (relating to sunset provisions) shall not apply to section 402 of such Act [amending sections
72,
135,
221,
529,
530,
4973, and
6693 of this title and enacting provisions set out as a note under section
72 of this title] (relating to modifications to qualified tuition programs).”
Pub. L. 107–16, title I, § 101(d), June 7, 2001, 115 Stat. 44, provided that:
“(1) In general.—Except as provided in paragraph (2), the amendments made by this section [enacting section
6428 of this title and amending this section and sections
15,
531,
541,
3402, and
3406 of this title] shall apply to taxable years beginning after December 31, 2000.
“(2) Amendments to withholding provisions.—The amendments made by paragraphs (6), (7), (8), (9), (10), and (11) of subsection (c) [amending sections
3402 and
3406 of this title] shall apply to amounts paid after the 60th day after the date of the enactment of this Act [June 7, 2001]. References to income brackets and rates of tax in such paragraphs shall be applied without regard to section 1(i)(1)(D) of the Internal Revenue Code of 1986.”
Pub. L. 107–16, title III, § 301(d), June 7, 2001, 115 Stat. 54, as amended by Pub. L. 108–27, title I, § 103(b), May 28, 2003, 117 Stat. 754, provided that: “The amendments made by this section [amending this section and section
63 of this title] shall apply to taxable years beginning after December 31, 2002.”
Pub. L. 107–16, title III, § 302(c), June 7, 2001, 115 Stat. 54, as amended by Pub. L. 108–27, title I, § 102(b)(2), May 28, 2003, 117 Stat. 754, provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 2002.”
Pub. L. 107–16, title IX, § 901, June 7, 2001, 115 Stat. 150, as amended by Pub. L. 107–358, § 2, Dec. 17, 2002, 116 Stat. 3015, provided that:
“(a) In General.—All provisions of, and amendments made by, this Act [see Tables for classification] shall not apply—
“(1) to taxable, plan, or limitation years beginning after December 31, 2010, or
“(2) in the case of title V [see Tables for classification], to estates of decedents dying, gifts made, or generation skipping transfers, after December 31, 2010.
“(b) Application of Certain Laws.—The Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1001 et seq.] shall be applied and administered to years, estates, gifts, and transfers described in subsection (a) as if the provisions and amendments described in subsection (a) had never been enacted.”
“(c) Exception.—Subsection (a) shall not apply to section
803 [set out as a note preceding section
101 of this title] (relating to no federal income tax on restitution received by victims of the Nazi regime or their heirs or estates).”
Effective Date of 2000 Amendment
Pub. L. 106–554, § 1(a)(7) [title I, § 117(c)], Dec. 21, 2000, 114 Stat. 2763, 2763A–605, provided that: “The amendments made by this section [amending this section and section
1202 of this title] shall apply to stock acquired after the date of the enactment of this Act [Dec. 21, 2000].”
Effective Date of 1998 Amendments
Pub. L. 105–277, div. J, title IV, § 4002(k), Oct. 21, 1998, 112 Stat. 2681–908, provided that: “The amendments made by this section [amending this section and sections
408A,
6015,
6103,
6159,
7421,
7443A, and
7491 of this title and amending provisions set out as a note under section
6601 of this title] shall take effect as if included in the provisions of the 1998 Act [Pub. L. 105–206] to which they relate.”
Pub. L. 105–206, title V, § 5001(b), July 22, 1998, 112 Stat. 788, provided that:
“(1) In general.—Except as provided in paragraph (2), the amendments made by this section [amending this section and sections
1223 and
1235 of this title] shall apply to taxable years ending after December 31, 1997.
“(2) Subsection (a)(5).—The amendments made by subsection (a)(5) [amending sections
1223 and
1235 of this title] shall take effect on January 1, 1998.”
Pub. L. 105–206, title VI, § 6024, July 22, 1998, 112 Stat. 826, provided that: “Except as otherwise provided in this title [see Tables for classification], the amendments made by this title shall take effect as if included in the provisions of the Taxpayer Relief Act of 1997 [Pub. L. 105–34] to which they relate.”
Effective Date of 1997 Amendment
Section 311(d) of Pub. L. 105–34 provided that:
“(1) In general.—Except as provided in paragraph (2), the amendments made by this section [amending this section, sections
55,
57,
904,
1445, and
7518 of this title, and section
1177 of Title
46, Appendix, Shipping] shall apply to taxable years ending after May 6, 1997.
“(2) Withholding.—The amendment made by subsection (c)(1) [amending section
1445 of this title] shall apply only to amounts paid after the date of the enactment of this Act [Aug. 5, 1997].”
Effective Date of 1996 Amendment
Section 1704(m)(4) of Pub. L. 104–188 provided that: “The amendments made by this subsection [amending this section and section
59 of this title] shall apply to taxable years beginning after December 31, 1995.”
Effective Date of 1993 Amendment
Section 13201(c) of Pub. L. 103–66 provided that: “The amendments made by this section [amending this section and sections
41,
63,
68,
132,
151,
453A,
513,
531, and
541 of this title] shall apply to taxable years beginning after December 31, 1992.”
Section 13202(c) of Pub. L. 103–66 provided that: “The amendments made by this section [amending this section and sections
531 and
541 of this title] shall apply to taxable years beginning after December 31, 1992.”
Section 13206(d)(3) of Pub. L. 103–66 provided that: “The amendments made by this subsection [amending this section and section
163 of this title] shall apply to taxable years beginning after December 31, 1992.”
Effective Date of 1990 Amendment
Section 11101(e) of Pub. L. 101–508 provided that: “The amendments made by this section [amending this section, sections
32,
41,
59,
63,
135,
151,
513,
691,
904,
6103, and
7518 of this title, and section
1177 of Title
46, Appendix, Shipping] shall apply to taxable years beginning after December 31, 1990.”
Section 11103(e) of Pub. L. 101–508 provided that: “The amendments made by this section [enacting section
68 of this title and amending this section and section
56 of this title] shall apply to taxable years beginning after December 31, 1990.”
Section 11104(c) of Pub. L. 101–508 provided that: “The amendments made by this section [amending this section and section
151 of this title] shall apply to taxable years beginning after December 31, 1990.”
Effective Date of 1989 Amendment
Section 7817 of Pub. L. 101–239 provided that: “Except as otherwise provided in this part [part I (§§ 7811–7817) of subtitle H of title VII of Pub. L. 101–239, see Tables for classification], any amendment made by this part shall take effect as if included in the provision of the 1988 Act [Pub. L. 100–647] to which such amendment relates.”
Section 7831(g) of Pub. L. 101–239 provided that: “Any amendment made by this section [amending this section and sections
42,
406,
407, and
1250 of this title and provisions set out as notes under sections
141 and
263A of this title] shall take effect as if included in the provision of the Tax Reform Act of 1986 [Pub. L. 99–514] to which such amendment relates.”
Effective Date of 1988 Amendment
Section 1019 of title I of Pub. L. 100–647 provided that:
“(a) General Rule.—Except as otherwise provided in this title, any amendment made by this title [see Tables for classification], shall take effect as if included in the provision of the Reform Act [Pub. L. 99–514] to which such amendment relates.
“(b) Waiver of Estimated Tax Penalties.—No addition to tax shall be made under section 6654 or 6655 of the 1986 Code for any period before April 16, 1989 (March 16, 1989 in the case of a taxpayer subject to section 6655 of the 1986 Code) with respect to any underpayment to the extent such underpayment was created or increased by any provision of this title or title II [see Tables for classification].”
Section 6006(b) of Pub. L. 100–647 provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 1988.”
Effective Date of 1986 Amendment
Section 151 of title I of Pub. L. 99–514 provided that:
“(a) General Rule.—Except as otherwise provided in this section, the amendments made by this title [enacting section
67 of this title, amending this section, sections
3,
5,
15,
21,
32,
62,
63,
74,
85,
86,
102,
108,
117,
129,
151,
152,
164,
170,
172,
183,
213,
265,
274,
280A,
402,
441,
443,
527,
541,
613A,
642,
667,
861,
862,
901,
904,
1398,
1441,
2032A,
3121,
3231,
3306,
3401,
3402,
3507,
4941,
4945,
6012 to
6014,
6212,
6504,
6511, and
7871 of this title, and section
409 of Title
42, The Public Health and Welfare, renumbering section
223 of this title as section
220 of this title, repealing sections
24,
221,
222, and
1301 to
1305 of this title, and enacting provisions set out as a note under section
32 of this title] shall apply to taxable years beginning after December 31, 1986.
“(b) Unemployment Compensation.—The amendment made by section
121 [amending section
85 of this title] shall apply to amounts received after December 31, 1986, in taxable years ending after such date.
“(c) Prizes and Awards.—The amendments made by section
122 [amending sections
74,
102,
274,
3121,
3231,
3306,
3401,
4941, and
4945 of this title and section
409 of Title
42, The Public Health and Welfare] shall apply to prizes and awards granted after December 31, 1986.
“(d) Scholarships.—The amendments made by section
123 [amending sections
74,
117,
1441, and
7871 of this title] shall apply to taxable years beginning after December 31, 1986, but only in the case of scholarships and fellowships granted after August 16, 1986.
“(e) Parsonage and Military Housing Allowances.—The amendment made by section
144 [amending section
265 of this title] shall apply to taxable years beginning before, on, or after, December 31, 1986.”
Section 302(b) of Pub. L. 99–514 provided that: “The amendment made by this section [amending this section] shall apply to taxable years beginning after December 31, 1986.”
Section 1411(c) of Pub. L. 99–514 provided that: “The amendments made by this section [amending this section and section
6103 of this title] shall apply to taxable years beginning after December 31, 1986.”
Effective Date of 1983 Amendment
Section 109 of title I of Pub. L. 97–448 provided that: “Except as otherwise provided in this title, any amendment made by this title [see Tables for classification] shall take effect as if it had been included in the provision of the Economic Recovery Tax Act of 1981 [Pub. L. 97–34, Aug. 13, 1981, 95 Stat. 172] to which such amendment relates.”
Effective Date of 1981 Amendment
Section 101(f)(1) of Pub. L. 97–34, as amended by Pub. L. 97–448, title I, § 101(a)(1), Jan. 12, 1983, 96 Stat. 2365, provided that: “The amendments made by subsections (a), (c), and (d) [amending this section and sections
3,
21,
55,
541, and
1304 of this title and repealing section
1348 of this title] shall apply to taxable years beginning after December 31, 1981; except that the amendment made by paragraph (3) of subsection (d) [amending section
21 of this title] shall apply to taxable years ending after December 31, 1981.”
Section 104(e) of Pub. L. 97–34 provided that: “The amendments made by this section [amending this section and sections
63,
151,
6012, and
6013 of this title] shall apply to taxable years beginning after December 31, 1984.”
Effective Date of 1978 Amendment
Section 101(f)(1) of Pub. L. 95–600 provided that: “The amendments made by subsections (a), (b), (c), and (d) [amending sections
63,
402,
1302, and
6012 of this title] shall apply to taxable years beginning after December 31, 1978.”
Effective Date of 1977 Amendment
Section 106(a) of Pub. L. 95–30 provided that: “The amendments made by sections
101,
102, and
104 [amending this section and sections
3,
21,
42,
57,
63,
143,
161,
172,
211,
402,
441,
443,
511,
584,
613A,
641,
642,
667,
703,
861,
862,
873,
904,
911,
931,
1034,
1211,
1302,
6012,
6014,
6212,
6504, and
6654 of this title and repealing sections
36,
141,
142,
144, and
145 of this title] shall apply to taxable years beginning after December 31, 1976.”
Effective Date of 1969 Amendment
Section 803(f) of Pub. L. 91–172, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that: “The amendments made by subsections (a) [amending this section], (b) [amending section
2 of this title], and (d) (other than paragraphs (1) and (8)) [amending sections
5,
511,
632,
641,
1347, and
6015 of this title] shall apply to taxable years beginning after December 31, 1970, except that section 2(c) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] [section
2
(c) of this title], as amended by subsection (b), shall also apply to taxable years beginning after December 31, 1969. The amendments made by subsections (c) [amending section
3 of this title], (d)(1) [amending section
6014 of this title], and (d)(8) [amending section
1304 of this title] shall apply to taxable years beginning after December 31, 1969”.
Effective Date of 1966 Amendment
Section 103(n) of Pub. L. 89–809 provided that:
“(1) The amendments made by this section (other than the amendments made by subsections (h), (i), and (k)) [enacting section
877 of this title, amending this section and sections
116,
154,
871,
872,
873,
874,
875,
932,
6015, and
7701 of this title, renumbering section
877 as
878, and repealing section
1493 of this title] shall apply with respect to taxable years beginning after December 31, 1966.
“(2) The amendments made by subsection (h) [amending section
1441 of this title] shall apply with respect to payments made in taxable years of recipients beginning after December 31, 1966.
“(3) The amendments made by subsection (i) [amending section
1461 of this title] shall apply with respect to payments occurring after December 31, 1966.
“(4) The amendments made by subsection (k) [amending section
3401 of this title] shall apply with respect to remuneration paid after December 31, 1966.”
Effective Date of 1964 Amendment
Section 131 of Pub. L. 88–272, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that: “Except for purposes of section 21 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (relating to effect of changes in rates during a taxable year), the amendments made by parts I and II of this title [amending this section and sections
2,
11,
37,
141,
144,
242,
821,
871,
963,
6016,
6074,
6154,
6212,
6504, and
6655 of this title] shall apply with respect to taxable years beginning after December 31, 1963.”
Short Title of 2007 Amendment
Pub. L. 110–172, § 1(a), Dec. 29, 2007, 121 Stat. 2473, provided that: “This Act [see Tables for classification] may be cited as the ‘Tax Technical Corrections Act of 2007’.”
Pub. L. 110–166, § 1, Dec. 26, 2007, 121 Stat. 2461, provided that: “This Act [amending sections
26 and
55 of this title and enacting provisions set out as notes under sections
26 and
55 of this title] may be cited as the ‘Tax Increase Prevention Act of 2007’.”
Pub. L. 110–142, § 1, Dec. 20, 2007, 121 Stat. 1803, provided that: “This Act [enacting sections
139B and
6699 of this title, amending sections
42,
108,
121,
163,
216,
6103, and
6698 of this title, and enacting provisions set out as notes under sections
42,
108,
121,
139B,
163,
216,
6103,
6655,
6698, and
6699 of this title] may be cited as the ‘Mortgage Forgiveness Debt Relief Act of 2007’.”
Pub. L. 110–28, title VIII, § 8201(a), May 25, 2007, 121 Stat. 190, provided that: “This subtitle [subtitle B (§§ 8201–8248) of title VIII of Pub. L. 110–28, enacting section
6676 of this title, amending this section, sections
38,
45B,
51,
179,
641,
761,
1361,
1362,
1368,
1400N,
1402,
6060,
6103,
6107,
6l09,
6330,
6404,
6503,
6657,
6694 to
6696,
7407,
7427,
7528, and
7701 of this title, and section
411 of Title
42, The Public Health and Welfare, enacting provisions set out as notes under this section and sections
38,
45B,
51,
179,
641,
761,
1361,
1362,
6060,
6330,
6404,
6657, and
6676 of this title, and amending provisions set out as a note under section
6655 of this title] may be cited as the ‘Small Business and Work Opportunity Tax Act of 2007’.”
Short Title of 2006 Amendment
Pub. L. 109–432, § 1(a), Dec. 20, 2006, 120 Stat. 2922, provided that: “This Act [see Tables for classification] may be cited as the ‘Tax Relief and Health Care Act of 2006’.”
Pub. L. 109–432, div. A, title III, § 301, Dec. 20, 2006, 120 Stat. 2948, provided that: “This title [amending sections
106,
223,
408, and
4980G of this title and enacting provisions set out as notes under sections
106,
223, and
4980G of this title] may be cited as the ‘Health Opportunity Patient Empowerment Act of 2006’.”
Pub. L. 109–227, § 1, May 29, 2006, 120 Stat. 385, provided that: “This Act [amending section
219 of this title and enacting provisions set out as notes under section
219 of this title] may be cited as the ‘Heroes Earned Retirement Opportunities Act’.”
Pub. L. 109–222, § 1(a), May 17, 2006, 120 Stat. 345, provided that: “This Act [enacting section
4965 of this title, amending this section and sections
26,
54,
55,
142 to
144,
148,
149,
163,
167,
170,
179,
199,
355,
408A,
468B,
852,
871,
897,
911,
953,
954,
1221,
1355,
1445,
3402,
6011,
6033,
6049,
6159,
6652,
7122, and
7872 of this title, enacting provisions set out as notes under this section and sections
26,
54 to
56,
142,
143,
163,
167,
170,
199,
355,
408A,
468B,
852,
897,
911,
954,
1355,
3402,
4965,
6049,
6159, and
6655 of this title, and amending provisions set out as notes under this section and sections
56 and
114 of this title] may be cited as the ‘Tax Increase Prevention and Reconciliation Act of 2005’.”
Short Title of 2005 Amendments
Pub. L. 109–135, § 1(a), Dec. 21, 2005, 119 Stat. 2577, provided that: “This Act [see Tables for classification] may be cited as the ‘Gulf Opportunity Zone Act of 2005’.”
Pub. L. 109–135, title IV, § 401, Dec. 21, 2005, 119 Stat. 2610, provided that: “This subtitle [subtitle A (§§ 401–413) of title IV of Pub. L. 109–135, see Tables for classification] may be cited as the ‘Tax Technical Corrections Act of 2005’.”
Pub. L. 109–73, § 1(a), Sept. 23, 2005, 119 Stat. 2016, provided that: “This Act [amending sections
170 and
7508 of this title and enacting provisions set out as notes under sections
170 and
7508 of this title] may be cited as the ‘Katrina Emergency Tax Relief Act of 2005’.”
Pub. L. 109–58, title XIII, § 1300(a), Aug. 8, 2005, 119 Stat. 986, provided that: “This title [see Tables for classification] may be cited as the ‘Energy Tax Incentives Act of 2005’.”
Short Title of 2004 Amendments
Pub. L. 108–357, § 1(a), Oct. 22, 2004, 118 Stat. 1418, provided that: “This Act [see Tables for classification] may be cited as the ‘American Jobs Creation Act of 2004’.”
Pub. L. 108–311, § 1(a), Oct. 4, 2004, 118 Stat. 1166, provided that: “This Act [see Tables for classification] may be cited as the ‘Working Families Tax Relief Act of 2004’.”
Short Title of 2003 Amendments
Pub. L. 108–121, § 1(a), Nov. 11, 2003, 117 Stat. 1335, provided that: “This Act [amending sections
5,
62,
101,
121,
132,
134,
162,
501,
530,
692,
2201,
3121,
3306,
3401,
6013, and
7508 of this title, section
1478 of Title
10, Armed Forces, and section
58c of Title
19, Customs Duties, and enacting provisions set out as notes under sections
5,
62,
101,
121,
132,
134,
501,
530,
2201, and
7508 of this title and section
1478 of Title
10] may be cited as the ‘Military Family Tax Relief Act of 2003’.”
Pub. L. 108–27, § 1(a), May 28, 2003, 117 Stat. 752, provided that: “This Act [enacting section
6429 of this title and section
801 of Title
42, The Public Health and Welfare, amending this section, sections
24,
55,
57,
63,
163,
168,
179,
301,
306,
338,
467,
531,
541,
584,
702,
854,
857,
1255,
1257,
1400L,
1445, and
7518 of this title, and section
1177 of Title
46, Appendix, Shipping, repealing section
341 of this title, enacting provisions set out as notes under this section, sections
24,
55,
63,
168, and
179 of this title, and section
1396d of Title
42, and amending provisions set out as notes under this section] may be cited as the ‘Jobs and Growth Tax Relief Reconciliation Act of 2003’.”
Pub. L. 108–26, § 1, May 28, 2003, 117 Stat. 751, provided that: “This Act [enacting and amending provisions set out as notes under section
3304 of this title] may be cited as the ‘Unemployment Compensation Amendments of 2003’.”
Short Title of 2002 Amendments
Pub. L. 107–358, § 1, Dec. 17, 2002, 116 Stat. 3015, provided that: “This Act [amending provisions set out as a note under this section] may be cited as the ‘Holocaust Restitution Tax Fairness Act of 2002’.”
Pub. L. 107–181, § 1, May 20, 2002, 116 Stat. 583, provided that: “This Act [amending section
107 of this title and enacting provisions set out as a note under section
107 of this title] may be cited as the ‘Clergy Housing Allowance Clarification Act of 2002’.”
Pub. L. 107–147, § 1(a), Mar. 9, 2002, 116 Stat. 21, provided that: “This Act [see Tables for classification] may be cited as the ‘Job Creation and Worker Assistance Act of 2002’.”
Pub. L. 107–134, § 1(a), Jan. 23, 2002, 115 Stat. 2427, provided that: This Act [enacting sections
139 and
5891 of this title and section
1148 of Title
29, Labor, amending sections
5,
101,
104,
140,
642,
692,
2011,
2053,
2201,
6013,
6081,
6103,
6105,
6161,
6404,
7213,
7508, and
7508A of this title and section
1302 of Title
29, enacting provisions set out as notes under sections
101,
108,
139,
501,
642,
692,
2011,
5891,
6081, and
6103 of this title, section
401 of Title
42, The Public Health and Welfare, and section
40101 of Title
49, Transportation, and amending provisions set out as a note under section
40101 of Title
49] may be cited as the ‘Victims of Terrorism Tax Relief Act of 2001’.”
Short Title of 2001 Amendments
Pub. L. 107–16, § 1(a), June 7, 2001, 115 Stat. 38, provided that: “This Act [see Tables for classification] may be cited as the ‘Economic Growth and Tax Relief Reconciliation Act of 2001’.”
Pub. L. 107–15, § 1, June 5, 2001, 115 Stat. 37, provided that: “This Act [amending provisions set out as a note under section
101 of this title] may be cited as the ‘Fallen Hero Survivor Benefit Fairness Act of 2001’.”
Short Title of 2000 Amendments
Pub. L. 106–573, § 1, Dec. 28, 2000, 114 Stat. 3061, provided that: “This Act [amending section
453 of this title and enacting provisions set out as a note under section
453 of this title] may be cited as the ‘Installment Tax Correction Act of 2000’.”
Pub. L. 106–554, § 1(a)(7) [§ 1(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–587, provided that: “This Act [H.R. 5662, as enacted by section 1(a)(7) of Pub. L. 106–554, see Tables for classification] may be cited as the ‘Community Renewal Tax Relief Act of 2000’.”
Pub. L. 106–519, § 1(a), Nov. 15, 2000, 114 Stat. 2423, provided that: “This Act [enacting sections
114 and
941 to
943 of this title, amending sections
56,
275,
864,
903 and
999 of this title, and repealing sections
921 to
927 of this title] may be cited as the ‘FSC Repeal and Extraterritorial Income Exclusion Act of 2000’.”
Pub. L. 106–476, title IV, § 4001, Nov. 9, 2000, 114 Stat. 2176, provided that: “This title [enacting sections
1681 to
1681b of Title
19, Customs Duties, amending sections
5704,
5754, and
5761 of this title, and enacting provisions set out as notes under sections
5704 and
5761 of this title and section
1681 of Title
19] may be cited as the ‘Imported Cigarette Compliance Act of 2000’.”
Short Title of 1999 Amendment
Pub. L. 106–170, title V, § 500, Dec. 17, 1999, 113 Stat. 1918, provided that: “This title [see Tables for classification] may be cited as the ‘Tax Relief Extension Act of 1999’.”
Short Title of 1998 Amendments
Pub. L. 105–277, div. J, § 1000(a), Oct. 21, 1998, 112 Stat. 2681–886, provided that: “This division [§§ 1000–5301, see Tables for classification] may be cited as the ‘Tax and Trade Relief Extension Act of 1998’.”
Pub. L. 105–277, div. C, title XV, § 1501, Oct. 21, 1998, 112 Stat. 2681–741, provided that: “This title [amending sections
4132 and
9510 of this title and section
300aa–11 of Title
42, The Public Health and Welfare, and enacting provisions set out as notes under sections
4132 and
9510 of this title] may be cited as the ‘Vaccine Injury Compensation Program Modification Act’.”
Pub. L. 105–206, § 1(a), July 22, 1998, 112 Stat. 685, provided that: “This Act [see Tables for classification] may be cited as the ‘Internal Revenue Service Restructuring and Reform Act of 1998’.”
Pub. L. 105–206, title III, § 3000, July 22, 1998, 112 Stat. 726, provided that: “This title [see Tables for classification] may be cited as the ‘Taxpayer Bill of Rights 3’.”
Pub. L. 105–206, title VI, § 6001(a), July 22, 1998, 112 Stat. 790, provided that: “This title [see Tables for classification] may be cited as the ‘Tax Technical Corrections Act of 1998’.”
Pub. L. 105–178, title IX, § 9001(a), June 9, 1998, 112 Stat. 499, provided that: “This title [amending sections
40,
132,
4041,
4051,
4071,
4081,
4091,
4221,
4481 to
4483,
6156,
6412,
6421,
6427,
9503, and
9504 of this title and section
460l–11 of Title
16, Conservation, repealing section
9511 of this title, enacting provisions set out as notes under sections
40,
132,
172,
4041,
6421, and
9503 of this title, and amending provisions set out as a note under section
172 of this title] may be cited as the ‘Surface Transportation Revenue Act of 1998’.”
Short Title of 1997 Amendments
Pub. L. 105–35, § 1, Aug. 5, 1997, 111 Stat. 1104, provided that: “This Act [enacting section
7213A of this title, amending sections
7213 and
7431 of this title, and enacting provisions set out as notes under sections
7213 and
7431 of this title] may be cited as the ‘Taxpayer Browsing Protection Act’.”
Section 1(a) of Pub. L. 105–34 provided that: “This Act [see Tables for classification] may be cited as the ‘Taxpayer Relief Act of 1997’.”
Pub. L. 105–2, § 1(a), Feb. 28, 1997, 111 Stat. 4, provided that: “This Act [amending sections
4041,
4081,
4091,
4261,
4271, and
9502 of this title and enacting provisions set out as notes under sections
4041,
4081, and
4261 of this title] may be cited as the ‘Airport and Airway Trust Fund Tax Reinstatement Act of 1997’.”
Short Title of 1996 Amendments
Section 1(a) of Pub. L. 104–188 provided that: “This Act [see Tables for classification] may be cited as the ‘Small Business Job Protection Act of 1996’.”
Pub. L. 104–168, § 1(a), July 30, 1996, 110 Stat. 1452, provided that: “This Act [enacting sections
4958,
7434,
7435, and
7524 of this title, amending sections
501,
4955,
4963,
6013,
6033,
6041 to
6042,
6044,
6045,
6049,
6050B,
6050H to
6050K,
6050N,
6103,
6104,
6159,
6201,
6213,
6323,
6334,
6343,
6404,
6503,
6601,
6651,
6652,
6656,
6672,
6685,
7122,
7213,
7422,
7430,
7433,
7454,
7502,
7608,
7609,
7623,
7802,
7805, and
7811 of this title, renumbering sections
7434 and
7435 as sections
7435 and
7436 of this title, enacting provisions set out as notes under sections
501,
4955,
6013,
6033,
6041,
6103,
6104,
6159,
6201,
6311,
6323,
6334,
6404,
6503,
6601,
6651,
6652,
6656,
6672,
7122,
7430,
7433 to
7435,
7524,
7608,
7609,
7623,
7802,
7803,
7805, and
7811 of this title, and amending provisions set out as a note under section
7608 of this title] may be cited as the ‘Taxpayer Bill of Rights 2’.”
Short Title of 1994 Amendments
Pub. L. 103–465, title VII, § 750, Dec. 8, 1994, 108 Stat. 5012, provided that: “This subtitle [subtitle F (§§ 750–781) of title VII of Pub. L. 103–465, enacting sections
1310,
1311, and
1350 of Title
29, Labor, amending sections
401,
404,
411,
412,
415,
417,
4971, and
4972 of this title and sections
1053 to
1056,
1082,
1132,
1301,
1303,
1305,
1306,
1322,
1341,
1342, and
1343 of Title
29, and enacting provisions set out as notes under sections
401,
411,
412, and
4972 of this title and sections
1056,
1082,
1303,
1306,
1310,
1311,
1322,
1341, and
1342 of Title
29] may be cited as the ‘Retirement Protection Act of 1994’.”
Pub. L. 103–387, § 1, Oct. 22, 1994, 108 Stat. 4071, provided that: “This Act [enacting section
3510 of this title, amending sections
3102 and
3121 of this title, section
3701 of Title
31, Money and Finance, and sections
401,
402,
404,
409,
410, and
1383 of Title
42, The Public Health and Welfare, and enacting provisions set out as notes under sections
3102 and
3510 of this title, section
3701 of Title
31, and sections
401,
402, and
1383 of Title
42] may be cited as the ‘Social Security Domestic Employment Reform Act of 1994’.”
Short Title of 1993 Amendments
Pub. L. 103–152, § 1, Nov. 24, 1993, 107 Stat. 1516, provided that: “This Act [amending sections
503,
504,
1105,
1108, and
1382j of Title
42, The Public Health and Welfare, enacting provisions set out as notes under section
3304 of this title and sections
503 and
1382j of Title
42, amending provisions set out as notes under section
3304 of this title and section
352 of Title
45, Railroads, and repealing provisions set out as a note under section
3304 of this title] may be cited as the ‘Unemployment Compensation Amendments of 1993’.”
Section 13001(a) of title XIII of Pub. L. 103–66 provided that: “This chapter [chapter 1 (§§ 13001–13444) of title XIII of Pub. L. 103–66, see Tables for classification] may be cited as the ‘Revenue Reconciliation Act of 1993’.”
Pub. L. 103–6, § 1, Mar. 4, 1993, 107 Stat. 33, provided that: “This Act [enacting provisions set out as notes under section
3304 of this title, section
31 of Title
2, The Congress, and section
352 of Title
45, Railroads, and amending provisions set out as notes under section
3304 of this title and section
352 of Title
45] may be cited as the ‘Emergency Unemployment Compensation Amendments of 1993’.”
Short Title of 1992 Amendments
Pub. L. 102–486, title XIX, § 19141, Oct. 24, 1992, 106 Stat. 3036, provided that: “This subtitle [subtitle C (§§ 19141–19143) of title XIX of Pub. L. 102–486, enacting sections
9701 to
9722 of this title, amending sections
1231 and
1232 of Title
30, Mineral Lands and Mining, and enacting provisions set out as a note under section
9701 of this title] may be cited as the ‘Coal Industry Retiree Health Benefit Act of 1992’.”
Pub. L. 102–318, § 1, July 3, 1992, 106 Stat. 290, provided that: “This Act [enacting section
1110 of Title
42, The Public Health and Welfare, amending sections
55,
62,
72,
151,
219,
401 to
404,
406 to
408,
411,
414,
415,
457,
691,
871,
877,
1441,
3121,
3304,
3306,
3402,
3405,
4973,
4980A,
6047,
6652,
6655, and
7701 of this title, section
8509 of Title
5, Government Organization and Employees, section
2291 of Title
19, Customs Duties, and sections
502,
503,
1101,
1102,
1104, and
1105 of Title
42, enacting provisions set out as notes under sections
401,
402,
3302,
3304, and
6655 of this title, section 8509 of Title
5, section
2291 of Title 19, and sections
502,
666,
1102, and
1108 of Title
42, and amending provisions set out as notes under section
3304 of this title, sections
502 and
666 of Title
42, and section
352 of Title
45, Railroads] may be cited as the ‘Unemployment Compensation Amendments of 1992’.”
Short Title of 1991 Amendments
Pub. L. 102–240, title VIII, § 8001(a), Dec. 18, 1991, 105 Stat. 2203, provided that: “This title [enacting section
9511 of this title, amending sections
4041,
4051,
4071,
4081,
4091,
4221,
4481,
4482,
4483,
6156,
6412,
6420,
6421,
6427,
9503, and
9504 of this title and section
460l–11 of Title
16, Conservation, and enacting provisions set out as notes under section
9503 of this title, section
101 of Title
23, Highways, and section 1601 of former Title 49, Transportation] may be cited as the ‘Surface Transportation Revenue Act of 1991’.”
Pub. L. 102–227, § 1(a), Dec. 11, 1991, 105 Stat. 1686, provided that: “This Act [amending sections
25,
28,
41,
42,
48,
51,
57,
120,
127,
143,
144,
162,
864, and
6655 of this title and enacting provisions set out as notes under sections
25,
28,
42,
51,
120,
127,
143,
144,
162,
864, and
6655 of this title] may be cited as the ‘Tax Extension Act of 1991’.”
Short Title of 1990 Amendment
Section 11001(a) of title XI of Pub. L. 101–508 provided that: “This title [see Tables for classification] may be cited as the ‘Revenue Reconciliation Act of 1990’.”
Short Title of 1989 Amendment
Section 7001(a) of title VII of Pub. L. 101–239 provided that: “This title [see Tables for classification] may be cited as the ‘Revenue Reconciliation Act of 1989’.”
Section 7701 of title VII of Pub. L. 101–239 provided that: “This subtitle [subtitle G (§§ 7701–7743) of title VII of Pub. L. 101–239, see Tables for classification] may be cited as the ‘Improved Penalty Administration and Compliance Tax Act’.”
Short Title of 1988 Amendment
Section 1(a) of Pub. L. 100–647 provided that: “This Act [see Tables for classification] may be cited as the ‘Technical and Miscellaneous Revenue Act of 1988’.”
Section 6226 of Pub. L. 100–647 provided that: “This subtitle [subtitle J (§§ 6226–6247) of title VI of Pub. L. 100–647, enacting sections
6159,
6326,
6712,
7430,
7432,
7433,
7520,
7521, and
7811 of this title, amending sections
6213,
6214,
6331,
6332,
6334,
6335,
6343,
6404,
6512,
6601,
6673,
6863,
7216,
7429,
7481,
7482,
7802, and
7805 of this title and section
504 of Title
5, Government Organization and Employees, renumbering section
6326 as
6327,
7432 as
7433, and
7433 as
7434 of this title, and enacting provisions set out as notes under this section and sections
6159,
6213,
6214,
6326,
6331,
6404,
6512,
6673,
6712,
6863,
7429,
7430,
7432,
7520,
7521,
7605,
7801 to
7803,
7805, and
7811 of this title] may be cited as the ‘Omnibus Taxpayer Bill of Rights’.”
Short Title of 1987 Amendments
Pub. L. 100–223, title IV, § 401, Dec. 30, 1987, 101 Stat. 1532, provided that: “This title [enacting section
4283 of this title, amending sections
4041,
4261,
4271,
6427, and
9502 of this title, and enacting provisions set out as notes under sections
4041 and
4261 of this title] may be cited as the ‘Airport and Airway Revenue Act of 1987’.”
Pub. L. 100–203, title IX, § 9302(a), Dec. 22, 1987, 101 Stat. 1330–333, provided that: “This part [part II (§§ 9302–9346) of subtitle D of part II of Pub. L. 100–203, enacting sections
1085b and
1371 of Title
29, Labor, amending sections
401,
404,
411,
412,
414, and
4971 of this title and sections
1021,
1023,
1024,
1054,
1082 to
1084,
1085a,
1086,
1103,
1107,
1113,
1132,
1201,
1301,
1305 to
1307,
1322,
1341,
1342,
1344,
1349,
1362,
1364,
1367, and
1368 of Title
29, repealing section
1349 of Title
29, and enacting provisions set out as notes under sections
401,
404,
412, and
4971 of this title and sections
1054,
1107,
1132,
1301,
1305,
1322, and
1344 of Title
29] may be cited as the ‘Pension Protection Act’.”
Pub. L. 100–203, title X, § 10000(a), Dec. 22, 1987, 101 Stat. 1330–382, provided that: “This title [see Tables for classification] may be cited as the ‘Revenue Act of 1987’.”
Pub. L. 100–17, title V, § 501, Apr. 2, 1987, 101 Stat. 256, provided that: “This title [amending sections
4041,
4051,
4052,
4071,
4081,
4221,
4481,
4482,
4483,
6156,
6412,
6420,
6421,
6427, and
9503 of this title and section
460l–11 of Title
16, Conservation, and enacting provisions set out as notes under sections
4052 and
4481 of this title] may be cited as the ‘Highway Revenue Act of 1987’.”
Short Title of 1986 Amendments
Pub. L. 99–662, title XIV, § 1401, Nov. 17, 1986, 100 Stat. 4266, provided that: “This title [enacting sections
4461,
4462,
9505, and
9506 of this title and section
988a of Title
33, Navigation and Navigable Waters, amending section
4042 of this title and sections
984 and
1804 of Title
33, repealing sections
1801 and
1802 of Title
33, and enacting provisions set out as notes under sections
4042,
4461,
9505, and
9506 of this title and sections
984 and
988 of Title
33] may be cited as the ‘Harbor Maintenance Revenue Act of 1986’.”
Section 1(a) of Pub. L. 99–514 provided that: “This Act [see Tables for classification] may be cited as the ‘Tax Reform Act of 1986’.”
Pub. L. 99–499, title V, § 501, Oct. 17, 1986, 100 Stat. 1760, provided that: “This title [enacting sections
59A,
4671,
4672,
9507, and
9508 of this title, amending sections
26,
164,
275,
936,
1561,
4041,
4042,
4081,
4221,
4611,
4612,
4661,
4662,
6154,
6416,
6420,
6421,
6425,
6427,
6655,
9502,
9503, and
9506 of this title and section
9601 of Title
42, The Public Health and Welfare, repealing sections
4681 and
4682 of this title and sections
9631 to
9633,
9641, and
9653 of Title
42, and enacting provisions set out as notes under this section and sections
26,
4041,
4611,
4661,
4671,
4681,
9507, and
9508 of this title] may be cited as the ‘Superfund Revenue Act of 1986’.”
Short Title of 1984 Amendment
Pub. L. 98–369, § 1(a), July 18, 1984, 98 Stat. 494, provided that: “This Act [see Tables for classification] may be cited as the ‘Deficit Reduction Act of 1984’.”
Pub. L. 98–369, div. A (§§ 5–1082), § 5(a), July 18, 1984, 98 Stat. 494, provided that: “This division [see Tables for classification] may be cited as the ‘Tax Reform Act of 1984’.”
Short Title of 1983 Amendments
Pub. L. 98–135, § 1, Oct. 24, 1983, 97 Stat. 857, provided that: “This Act [amending section
3306 of this title and sections
1323 and
1397b of Title
42, The Public Health and Welfare, enacting provisions set out as notes under sections
3304 and
3306 of this title and section
1323 of Title
42, and amending provisions set out as notes under section
3304 of this title] may be cited as the ‘Federal Supplemental Compensation Amendments of 1983’.”
Pub. L. 98–76, title II, § 201, Aug. 12, 1983, 97 Stat. 419, provided that: “This title [enacting sections
3321 to
3323 and
6050G of this title, amending sections
72,
86,
105,
3201,
3202,
3211,
3221,
3231,
6157,
6201,
6317,
6513, and
6601 of this title and section
430 of Title
42, The Public Health and Welfare, and enacting provisions set out as notes under sections
72,
105,
3201,
3321, and
6302 of this title and section
231n of Title
45, Railroads] may be cited as the ‘Railroad Retirement Revenue Act of 1983’.”
Pub. L. 98–67, title I, § 101(a), Aug. 5, 1983, 97 Stat. 369, provided that: “This title [enacting sections
3406 and
6705 of this title, amending sections
31,
274,
275,
643,
661,
3402,
3403,
3502,
3507,
6011,
6013,
6015,
6042,
6044,
6049,
6051,
6365,
6401,
6413,
6652,
6653,
6654,
6676,
6678,
6682,
7205,
7215,
7431,
7654, and
7701 of this title, repealing sections
3451 to
3456 of this title, enacting provisions set out as notes under sections
31,
3451, and
6011 of this title, and repealing provisions set out as a note under section
3451 of this title] may be cited as the ‘Interest and Dividend Tax Compliance Act of 1983’.”
Pub. L. 97–473, title II, § 201, Jan. 14, 1983, 96 Stat. 2607, provided that: “This title [enacting section
7871 of this title, amending sections
41,
103,
164,
170,
2055,
2106,
2522,
4227,
4484,
6420,
6421,
6424,
6427, and
7701 of this title, and enacting provisions set out as a note under section
7871 of this title] may be cited as the ‘Indian Tribal Governmental Tax Status Act of 1982’.”
Section 1(a) of Pub. L. 97–448 provided that: “This Act [see Tables for classification] may be cited as the ‘Technical Corrections Act of 1982’.”
Pub. L. 97–424, title V, § 501(a), Jan. 6, 1983, 96 Stat. 2168, provided that: “This title [see Tables for classification] may be cited as the ‘Highway Revenue Act of 1982’.”
Short Title of 1982 Amendments
Pub. L. 97–362, § 1(a), Oct. 25, 1982, 96 Stat. 1726, provided that: “This Act [amending sections
8509 and
8521 of Title
5, Government Organization and Employees, sections
48,
172,
4401,
4411,
6051,
7447,
7448,
7456,
7459, and
7463 of this title, and section 601 of former Title 46, Shipping, enacting provisions set out as notes under sections
8509 and
8521 of Title
5 and sections
48,
172,
336,
4401,
4411,
6051,
7448, and
7463 of this title, and amending provisions set out as notes under section
2291 of Title
19, Customs Duties, and section
3306 of this title] may be cited as the ‘Miscellaneous Revenue Act of 1982’.”
Pub. L. 97–354, § 1(a), Oct. 19, 1982, 96 Stat. 1669, provided that: “This Act [enacting sections
1361 to
1363,
1366 to
1368,
1371 to
1375,
1377 to
1379, and
6241 to
6245 of this title, amending sections
29,
31,
40,
41,
46,
48,
50A,
50B,
52,
53,
55,
57,
58,
62,
108,
163,
168,
170,
172,
179,
183,
189,
194,
267,
280,
280A,
291,
447,
464,
465,
613A,
992,
1016,
1101,
1212,
1251,
1254,
1256,
3453,
3454,
4992,
4996,
6037,
6042,
6362, and
6661 of this title and section
1108 of Title
29, Labor, omitting section
1376 of this title, and enacting provisions set out as a note under section
1361 of this title] may be cited as the ‘Subchapter S Revision Act of 1982’.”
Pub. L. 97–248, § 1(a), Sept. 3, 1982, 96 Stat. 324, provided that: “This Act [see Tables for classification] may be cited as the ‘Tax Equity and Fiscal Responsibility Act of 1982’.”
Section 401 of title IV of Pub. L. 97–248 provided that: “This title [enacting sections
6046A and
6221 to
6232 of this title and section
1508 of Title
28, Judiciary and Judicial Procedure, amending sections
702,
6031,
6213,
6216,
6422,
6501,
6504,
6511,
6512,
6515,
6679,
7422,
7451,
7456,
7459,
7482, and
7485 of this title and section
1346 of Title
28, and enacting provisions set out as notes under sections
6031,
6046A,
6221, and
6231 of this title] may be cited as the ‘Tax Treatment of Partnership Items Act of 1982’.”
Short Title of 1981 Amendments
Pub. L. 97–119, title I, § 101(a), Dec. 29, 1981, 95 Stat. 1635, provided that: “This subtitle [subtitle A (§§ 101–104) of title I of Pub. L. 97–119, enacting sections
9500,
9501,
9601, and
9602 of this title, amending sections
501 and
4121 of this title and sections
902,
925,
932, and
934 of Title
30, Mineral Lands and Mining, repealing section
934a of Title
30, and enacting provisions set out as notes under sections
4121 and
9501 of this title and section
934 of Title
30] may be cited as the ‘Black Lung Benefits Revenue Act of 1981’.”
Section 1(a) of Pub. L. 97–34 provided that: “This Act [see Tables for classification] may be cited as the ‘Economic Recovery Tax Act of 1981’.”
Short Title of 1980 Amendments
Pub. L. 96–605, § 1(a), Dec. 28, 1980, 94 Stat. 3521, provided that: “This Act [enacting sections
66 and
195 of this title, amending sections
48,
105,
125,
274,
401,
408,
409A,
410,
414,
415,
501,
513,
514,
528,
861,
871, and
2055 of this title, and enacting provisions set out as notes under sections
48,
66,
119,
125,
195,
274,
401,
409A,
414,
415,
501,
513,
514,
528,
861,
871,
2055,
3121, and
7701 of this title] may be cited as the ‘Miscellaneous Revenue Act of 1980’.”
Pub. L. 96–589, § 1(a), Dec. 24, 1980, 94 Stat. 3389, provided that: “This Act [enacting sections
370,
1398,
1399,
6658, and
7464 of this title, redesignating former section
7464 of this title as 7465, amending sections
108,
111,
118,
128,
302,
312,
337,
351,
354,
355,
357,
368,
381,
382,
422,
443,
542,
703,
1017,
1023,
1371,
3302,
6012,
6036,
6103,
6155,
6161,
6212,
6213,
6216,
6326,
6404,
6503,
6512,
6532,
6871,
6872,
6873,
7430, and
7508 of this title, repealing section
1018 of this title, and enacting provisions set out as a note under section
108 of this title] may be cited as the ‘Bankruptcy Tax Act of 1980’.”
Pub. L. 96–510, title II, § 201(a), Dec. 11, 1980, 94 Stat. 2796, provided that: “This title [enacting chapter
38 of this title, sections
9631 to
9641 of Title
42, The Public Health and Welfare, and provisions set out as a note under section
4611 of this title] may be cited as the ‘Hazardous Substance Response Revenue Act of 1980’.”
Pub. L. 96–499, title XI, § 1100, Dec. 5, 1980, 94 Stat. 2660, provided: “This title [enacting sections
103A,
280D,
897,
6039C, and
6429 of this title, amending sections
103,
861,
871,
882,
3121,
3306,
4251,
6652, and
6655 of this title and section
409 of Title
42, The Public Health and Welfare, and enacting provisions set out as notes under sections
1,
103A,
280D,
897,
3121, and
6655 of this title] may be cited as the ‘Revenue Adjustments Act of 1980’.”
Pub. L. 96–499, title XI, subtitle A (§§ 1101–1104), § 1101, Dec. 5, 1980, 94 Stat. 2660, provided: “This subtitle [enacting section
103A of this title, amending section
103 of this title, and enacting provisions set out as a note under section
103A of this title] may be cited as the ‘Mortgage Subsidy Bond Tax Act of 1980’.”
Pub. L. 96–499, title XI, § 1121, Dec. 5, 1980, 94 Stat. 2682, provided: “This subtitle [subtitle C (§§ 1121–1125) of title XI of Pub. L. 96–499, enacting sections
897 and
6039C of this title, amending sections
861,
871,
882, and
6652 of this title, and enacting provisions set out as notes under section
897 of this title] may be cited as the ‘Foreign Investment in Real Property Tax Act of 1980’.”
Pub. L. 96–471, § 1(a), Oct. 19, 1980, 94 Stat. 2247, provided: “This Act [enacting sections
453 to
453B of this title, amending sections
311,
336,
337,
381, former section
453, sections
453B,
481,
644,
691,
1038,
1239, and
1255 of this title, and enacting provisions set out as notes under sections
453,
691, and
1038 of this title] may be cited as the ‘Installment Sales Revision Act of 1980’.”
Pub. L. 96–283, title IV, § 401, June 28, 1980, 94 Stat. 582, provided that: “This title [enacting sections
4495 to
4498 of this title and sections
1472,
1473 of Title
30, Mineral Lands and Mining, and enacting provision set out as a note under section
4495 of this title] may be cited as the ‘Deep Seabed Hard Mineral Removal Tax Act of 1979’.”
Pub. L. 96–223, § 1(a) Apr. 2, 1980, 94 Stat. 229, provided that: “This Act [see Tables for classification] may be cited as the ‘Crude Oil Windfall Profit Tax Act of 1980’.”
Pub. L. 96–222, § 1(a), Apr. 1, 1980, 94 Stat. 194, provided that: “This Act [see Tables for classification] may be cited as the ‘Technical Corrections Act of 1979’.”
Short Title of 1979 Amendment
Pub. L. 96–39, title VIII, § 801(a), July 26, 1979, 93 Stat. 273, provided that: “This subtitle [subtitle A (§§ 801–810) of title VIII of Pub. L. 96–39, amending sections
5001,
5002 to
5008,
5043,
5061,
5064,
5066,
5116,
5171 to
5173,
5175 to
5178,
5180,
5181,
5201 to
5205,
5207,
5211 to
5215,
5221 to
5223,
5231,
5232,
5235,
5241,
5273,
5291,
5301,
5352,
5361 to
5363,
5365,
5381,
5391,
5551,
5601,
5604,
5610,
5612,
5615,
5663,
5681,
5682, and
5691 of this title, repealing sections
5009,
5021 to
5026,
5081 to
5084,
5174,
5233,
5234,
5251,
5252,
5364, and
5521 to
5523 of this title, and enacting provisions set out as notes under sections
5001,
5061,
5171, and
5173 of this title] may be cited as the ‘Distilled Spirits Tax Revision Act of 1979’.”
Short Title of 1978 Amendments
Section 1(a) of Pub. L. 95–618, Nov. 9, 1978, 92 Stat. 3174, provided that: “This Act [enacting sections
44C,
124, and
4064 of this title, amending sections
39,
46 to
48,
56,
57,
167,
263,
465,
613,
613A,
614,
751,
1016,
1254,
4041,
4063,
4081,
4092,
4093,
4217,
4221,
4222,
4293,
4483,
6096,
6401,
6412,
6416,
6421,
6424,
6427,
6504, and
6675 of this title, redesignating section
124 of this title as section
125, enacting provisions set out as notes under sections
39,
44C,
48,
124,
167,
263,
613,
613A,
4041,
4063,
4064,
4081,
4093, and
4221 of this title, and amending provisions set out as notes under section
57 of this title and section
120 of Title
23, Highways] may be cited as the ‘Energy Tax Act of 1978’.”
Pub. L. 95–615, § 1, Nov. 8, 1978, 92 Stat. 3097, provided that: “This Act [probably meaning sections 1 to 8 of Pub. L. 95–615, amending section
167 of this title, enacting provisions set out as notes under sections
61,
62, and
911 of this title, and amending provisions set out as notes under sections
117,
167,
382,
401, and
911 of this title] may be cited as the ‘Tax Treatment Extension Act of 1977’.”
Pub. L. 95–615, § 201(a), Nov. 8, 1978, 92 Stat. 3098, provided that: “This Act [probably meaning sections 201 to 210 of Pub. L. 95–615, enacting section
913 of this title, amending sections
43,
62,
119,
217,
911,
1034,
1302,
1304,
1402,
3401,
6011,
6012, and
6091 of this title, and enacting provisions set out as notes under sections
61,
401, and
911 of this title] may be cited as the ‘Foreign Earned Income Act of 1978’.”
Section 1(a) of Pub. L. 95–600 provided that: “This Act [see Tables for classification] may be cited as the ‘Revenue Act of 1978’.”
Pub. L. 95–502, title II, § 201, Oct. 21, 1978, 92 Stat. 1696, provided that: “This title [enacting section
4042 of this title and sections
1801 to
1804 of Title
33, Navigation and Navigable Waters, amending section
4293 of this title, and enacting provisions set out as notes under section
4042 of this title] may be cited as the ‘Inland Waterways Revenue Act of 1978’.”
Pub. L. 95–227, § 1, Feb. 10, 1978, 92 Stat. 11, provided that: “This Act [enacting sections
192,
4121, and
4951 to
4953 of this title and section
934a of Title
30, Mineral Lands and Mining, amended sections
501,
4218,
4221,
4293,
4946,
6104,
6213,
6405,
6416,
6501,
6503, and
7454 of this title and section
934 of Title
30 and enacted provisions set out as notes under sections
192 and
4121 of this title and section
934 of Title
30] may be cited as the ‘Black Lung Benefits Revenue Act of 1977’.”
Short Title of 1977 Amendments
Section 1(a) of Pub. L. 95–30 provided that: “This Act [see Tables for classification] may be cited as the ‘Tax Reduction and Simplification Act of 1977’.”
Pub. L. 95–19, § 1, Apr. 12, 1977, 91 Stat. 39, provided that: “This Act [amending section
3304 of this title, enacting provisions set out as notes under sections
3302,
3304, and
3309 of this title, and amending provisions set out as notes under sections
3302,
3304, and
3309 of this title and sections
359 and
360 of Title
2, The Congress] may be cited as the ‘Emergency Unemployment Compensation Extension Act of 1977’.”
Short Title of 1976 Amendments
Pub. L. 94–455, title I, § 101, Oct. 4, 1976, 90 Stat. 1525, provided that: “This Act [see Tables for classification] may be cited as the ‘Tax Reform Act of 1976’.”
Section 1 of Pub. L. 94–452 provided that: “This Act [enacting section
6158 of this title, amending sections
311,
1101,
1102,
1103,
6151,
6503, and
6601 of this title, and enacting provisions set out as notes under sections
311,
1101, and
6158 of this title] may be cited as the ‘Bank Holding Company Tax Act of 1976’.”
Short Title of 1975 Amendments
Pub. L. 94–164, § 1, Dec. 23, 1975, 89 Stat. 970, provided that: “This Act [amending sections
11,
21,
42,
43,
103,
141,
883,
962,
1561,
3402,
6012,
6153, and
6154 of this title and provisions set out as notes under sections
42,
43, and
3402 of this title, and enacting provisions set out as notes under this section and sections
3,
11,
43,
103, and
883 of this title] may be cited as the ‘Revenue Adjustment Act of 1975’.”
Pub. L. 94–12, § 1(a), Mar. 29, 1975, 89 Stat. 26, provided that: “This Act [enacting sections, 42, 43, 44, 613A, 907, 955, and 6428 of this title, amending sections
3,
11,
12,
21,
46,
47,
48,
50A,
50B,
56,
141,
214,
535,
613,
703,
851,
901,
902,
951,
954,
962,
993,
1034,
1561,
3304 note, 3402, 6012, 6096, 6201, and 6401 of this title, repealing sections
955 and
963 of this title, and enacting provisions set out as notes under sections
3,
11,
43,
44,
46,
48,
50A,
214,
410,
535,
613A,
907,
955,
993,
3304,
3402,
6428, and
6611 of this title and section
402 of Title
42, The Public Health and Welfare] may be cited as the ‘Tax Reduction Act of 1975’.”
Short Title of 1973 Amendments
Pub. L. 93–69, title I, § 110, July 10, 1973, 87 Stat. 166, provided that: “This title [amending sections
3201,
3202,
3211, and
3221 of this title and sections
228b,
228c, and
228e of Title
45, Railroads, enacting provisions set out as notes under section
3201 of this title and sections
228b,
228c,
228f, and
228o of Title
45, and amending provisions set out as notes under section
228c of Title
45] may be cited as the ‘Railroad Retirement Amendments of 1973’.”
For short title of Pub. L. 93–17 as the “Interest Equalization Tax Extension Act of 1973”, see section 1(a) of Pub. L. 93–17, set out as a note under section
2104 of this title.
Short Title of 1972 Amendment
Pub. L. 92–512, title II, § 201, Oct. 20, 1972, 86 Stat. 936, provided that: “This title [enacting sections
6361 to
6363 of this title, amending sections
6405 and
7463 of this title, and enacting provisions set out as a note under section
7463 of this title] may be cited as the ‘Federal-State Tax Collection Act of 1972’.”
Short Title of 1971 Amendments
Pub. L. 92–178, § 1(a), Dec. 10, 1971, 85 Stat. 497, provided that: “This Act [see Tables for classification] may be cited as the ‘Revenue Act of 1971’.”
For short title of Pub. L. 92–9 as the “Interest Equalization Tax Extension Act of 1971”, see section 1(a) of Pub. L. 92–9, set out as a note under section
861 of this title.
Short Title of 1970 Amendment
For short title of Pub. L. 91–614 as the “Excise, Estate, and Gift Tax Adjustment Act of 1970”, see section 1 of Pub. L. 91–614, set out as a Short Title note under section
2001 of this title.
Short Title of 1969 Amendments
Pub. L. 91–172, § 1(a), Dec. 30, 1969, 83 Stat. 487, provided that: “This Act [see Tables for classification] may be cited as the ‘Tax Reform Act of 1969’.”
For short title of Pub. L. 91–128 as the “Interest Equalization Tax Extension Act of 1969”, see section 1(a) of Pub. L. 91–128, set out as a note under section
4182 of this title.
Short Title of 1968 Amendment
Pub. L. 90–364, § 1(a), June 28, 1968, 82 Stat. 251, provided that: “This Act [enacting sections
51 and
6425 of this title, amending sections
103,
243,
276,
501,
963,
3402,
4061,
4251,
6020,
6154,
6412,
6651,
6655,
7203,
7502, and
7701 of this title and sections
603,
607, and
1396b of Title
42, The Public Health and Welfare, repealing sections
6016,
6074, and
4251 to
4254 of this title, enacting provisions set out as notes under sections
51,
103,
276,
501,
4061,
6154, and
7502 of this title, section
3101 of Title
5, Government Organization and Employees, sections 11 and 757b of former Title 31, Money and Finance, and section
1396b of Title
42, and amending notes under section
1396b of Title
42,] may be cited as the ‘Revenue and Expenditure Control Act of 1968’.”
Short Title of 1967 Amendment
For short title of Pub. L. 90–59 as the “Interest Equalization Tax Extension Act of 1967”, see section 1(a) of Pub. L. 90–59, set out as a note under section
6011 of this title.
Short Title of 1966 Amendments
For short title of title I of Pub. L. 89–809 as the “Foreign Investors Tax Act of 1966”, see section 101 of Pub. L. 89–809, set out as a note under section
861 of this title.
For short title of title III of Pub. L. 89–809 as the “Presidential Election Campaign Fund Act of 1966”, see section 301 of Pub. L. 89–809, set out as a Short Title note under section
6096 of this title.
For short title of Pub. L. 89–719 as the “Federal Tax Lien Act of 1966”, see section 1(a) of Pub. L. 89–719, set out as a Short Title note under section
6321 of this title.
Short Title of 1965 Amendment
Pub. L. 89–44, § 1(a), June 21, 1965, 79 Stat. 136, provided that: “This Act [see Tables for classification] may be cited as the ‘Excise Tax Reduction Act of 1965’.”
Short Title of 1964 Amendments
Section 1 of Pub. L. 88–348 provided: “That this Act [amending sections
165,
4061,
4251,
4261,
5001,
5022,
5041,
5051,
5063,
5701,
5707, and
6412 of this title, and provisions set out as notes under sections
165,
4261, and
5701 of this title] may be cited as the ‘Excise-Tax Rate Extension Act of 1964’.”
Pub. L. 88–272, § 2(a), Feb. 26, 1964, 78 Stat 19, provided that: “This Act [see Tables for classification] may be cited as the ‘Revenue Act of 1964’.”
Short Title of 1963 Amendment
Pub. L. 88–52, § 1, June 29, 1963, 77 Stat. 72, provided: “That this Act [amending sections
11,
821,
4061,
4251,
4261,
5001,
5022,
5041,
5051,
5063,
5701,
5707,
6412 of this title and provisions set out as notes under sections
4261 and
5701 of this title] may be cited as the ‘Tax Rate Extension Act of 1963’.”
Short Title of 1962 Amendments
Pub. L. 87–834, § 1(a), Oct. 16, 1962, 76 Stat. 960, provided that: “This Act [see Tables for classification] may be cited as the ‘Revenue Act of 1962’.”
For short title of Pub. L. 87–792 as the “Self-Employed Individuals Tax Retirement Act of 1962”, see section 1 of Pub. L. 87–792, set out as a note under section
401 of this title.
Pub. L. 87–508, § 1, June 28, 1962, 76 Stat. 114, provided: “That this Act [amending sections
11,
821,
4061,
4251 to
4253,
4261 to
4264,
5001,
5002,
5041,
5051,
5063,
5701,
6707,
6412,
6416, and
6421 of this title, enacting provisions set out as notes under section
4261,
6416, and
6421 of this title, and amending provisions set out as a note under section
5701 of this title] may be cited as the ‘Tax Rate Extension Act of 1962’.”
Short Title of 1961 Amendment
Pub. L. 87–72, § 1, June 30, 1961, 75 Stat. 193, provided: “That this Act [amending sections
11,
821,
4061,
4251,
4261,
5001,
5022,
5041,
5051,
5063,
5701,
5707, and
6412 of this title and provisions set out as a note under section
5701 of this title] may be cited as the ‘Tax Rate Extension Act of 1961’.”
Short Title of 1959 Amendments
Pub. L. 86–75, § 1, June 30, 1959, 73 Stat. 157, provided: “That this Act [amending sections
11,
821,
4061,
4251,
4261,
5001,
5022,
5041,
5051,
5063,
5701,
5707 and
6412 of this title and provisions set out as a note under section
5701 of this title] may be cited as the ‘Tax Rate Extension Act of 1959’.”
Section 1 of Pub. L. 86–69 provided that: “This Act [amending former part I of subchapter L of this chapter and sections
116,
381,
841,
842,
891,
1016,
1201,
1232,
1504,
4371, and
6501 of this title and enacting provisions set out as notes under sections
801,
6072, and
6655 of this title] may be cited as the ‘Life Insurance Company Income Tax Act of 1959’.”
Short Title of 1958 Amendments
Pub. L. 85–866, title I, § 1(a), Sept. 2, 1958, 72 Stat. 1606, provided that: “This title [see Tables for classification] may be cited as the ‘Technical Amendments Act of 1958’.”
Pub. L. 85–866, title II, § 201, Sept. 2, 1958, 72 Stat. 1676, provided that: “This title [amending sections
165,
172,
179,
535,
1244,
1551,
6161,
6166,
6503, and
6601 of this title and enacting provisions set out as notes under sections
172,
179,
535,
6161 of this title] may be cited as the ‘Small Business Tax Revision Act of 1958’.”
For short title of Pub. L. 85–859 as the “Excise Tax Technical Changes Act of 1958”, see section 1(a) of Pub. L. 85–859, set out as a Short Title note under section
5001 of this title.
Pub. L. 85–475, § 1, June 30, 1958, 72 Stat. 259, provided: “That this Act [amending sections
11,
821,
4061,
4292,
5001,
5022,
5041,
5051,
5063,
5134,
5701,
5707,
6412,
6415,
6416,
7012, and
7272 of this title and repealing sections
4271 to
4273 and
4281 to
4283 of this title] may be cited as the ‘Tax Rate Extension Act of 1958’.”
Short Title of 1957 Amendment
Section 1 of Pub. L. 85–12 provided: “That this Act [amending sections
11,
821,
4061,
5001,
5022,
5041,
5051,
5063,
5134,
5701,
5707, and
6412 of this title] may be cited as the ‘Tax Rate Extension Act of 1957’.”
Short Title of 1956 Amendments
For short title of title II of act June 29, 1956 as the “Highway Revenue Act of 1956”, see section 201(a) of act June 29, 1956, set out as a note under section
4041 of this title.
For short title of act Mar. 29, 1956 as the “Tax Rate Extension Act of 1956”, see section 1 of act Mar. 29, 1956, set out as a note under section
4041 of this title.
Section 1 of act Mar. 13, 1956, provided: “That this Act [enacting section
843 of this title and amending sections
316,
501,
594,
801 to
805,
811 to
813,
816 to
818,
821,
822,
832,
841,
842,
891,
1201,
1504, and
4371 of this title] be cited as the ‘Life Insurance Company Tax Act for 1955’.”
Short Title of 1955 Amendment
For short title of act Mar. 30, 1955 as the “Tax Rate Extension Act of 1955”, see section 1 of act Mar. 30, 1955, set out as a note under section
4041 of this title.
Transitional Rules for Taxable Years Which Include May 6, 2003
Pub. L. 108–27, title III, § 301(c), May 28, 2003, 117 Stat. 759, provided that: “For purposes of applying section 1(h) of the Internal Revenue Code of 1986 in the case of a taxable year which includes May 6, 2003—
“(1) The amount of tax determined under subparagraph (B) of section 1(h)(1) of such Code shall be the sum of—
“(A) 5 percent of the lesser of—
“(i) the net capital gain determined by taking into account only gain or loss properly taken into account for the portion of the taxable year on or after May 6, 2003 (determined without regard to collectibles gain or loss, gain described in section 1(h)(6)(A)(i) of such Code, and section
1202 gain), or
“(ii) the amount on which a tax is determined under such subparagraph (without regard to this subsection),
“(B) 8 percent of the lesser of—
“(i) the qualified 5-year gain (as defined in section 1(h)(9) of the Internal Revenue Code of 1986, as in effect on the day before the date of the enactment of this Act [May 28, 2003]) properly taken into account for the portion of the taxable year before May 6, 2003, or
“(ii) the excess (if any) of—
“(I) the amount on which a tax is determined under such subparagraph (without regard to this subsection), over
“(II) the amount on which a tax is determined under subparagraph (A), plus
“(C) 10 percent of the excess (if any) of—
“(i) the amount on which a tax is determined under such subparagraph (without regard to this subsection), over
“(ii) the sum of the amounts on which a tax is determined under subparagraphs (A) and (B).
“(2) The amount of tax determined under subparagraph (C) of section (1)(h)(1) of such Code shall be the sum of—
“(A) 15 percent of the lesser of—
“(i) the excess (if any) of the amount of net capital gain determined under subparagraph (A)(i) of paragraph (1) of this subsection over the amount on which a tax is determined under subparagraph (A) of paragraph (1) of this subsection, or
“(ii) the amount on which a tax is determined under such subparagraph (C) (without regard to this subsection), plus
“(B) 20 percent of the excess (if any) of—
“(i) the amount on which a tax is determined under such subparagraph (C) (without regard to this subsection), over
“(ii) the amount on which a tax is determined under subparagraph (A) of this paragraph.
“(3) For purposes of applying section 55(b)(3) of such Code, rules similar to the rules of paragraphs (1) and (2) of this subsection shall apply.
“(4) In applying this subsection with respect to any pass-thru entity, the determination of when gains and losses are properly taken into account shall be made at the entity level.
“(5) For purposes of applying section 1(h)(11) of such Code, as added by section 302 of this Act, to this subsection, dividends which are qualified dividend income shall be treated as gain properly taken into account for the portion of the taxable year on or after May 6, 2003.
“(6) Terms used in this subsection which are also used in section 1(h) of such Code shall have the respective meanings that such terms have in such section.”
Coordination of Provisions in Amendatory Acts
Pub. L. 105–277, div. J, title IV, § 4001(b), Oct. 21, 1998, 112 Stat. 2681–906, provided that: “For purposes of applying the amendments made by any title of this division [§§ 1000–5301, see Tables for classification] other than this title [see Definitions note set out below for classification], the provisions of this title shall be treated as having been enacted immediately before the provisions of such other titles.”
Pub. L. 105–206, title VI, § 6001(b), July 22, 1998, 112 Stat. 790, provided that: “For purposes of applying the amendments made by any title of this Act other than this title, the provisions of this title [see Tables for classification] shall be treated as having been enacted immediately before the provisions of such other titles.”
Section 1600 of title XVI of Pub. L. 105–34 provided that: “For purposes of applying the amendments made by any title of this Act other than this title, the provisions of this title [see Tables for classification] shall be treated as having been enacted immediately before the provisions of such other titles.”
Section 1701 of Pub. L. 104–188 provided that: “For purposes of applying the amendments made by any subtitle [subtitle A to F (§§ 1111–1621) and H to J (§§ 1801–1954) of title I of Pub. L. 104–188, see Tables for classification] of this title other than this subtitle [subtitle G (§§ 1701–1704) of title I of Pub. L. 104–188, see Tables for classification], the provisions of this subtitle shall be treated as having been enacted immediately before the provisions of such other subtitles.”
Section 11700 of Pub. L. 101–508 provided that: “For purposes of applying the amendments made by any subtitle [subtitles A to F (§§ 11101–11622) and H and I (§§ 11801–11901) of title XI of Pub. L. 101–508, see Tables for classification] of this title other than this subtitle [subtitle G (§§ 11700–11704) of title XI of Pub. L. 101–508, see Tables for classification], the provisions of this subtitle shall be treated as having been enacted immediately before the provisions of such other subtitles.”
Section 7801(b) of Pub. L. 101–239 provided that: “For purposes of applying the amendments made by any subtitle [subtitles A to G (§§ 7101–7743) of title VII of Pub. L. 101–239, see Tables for classification] of this title other than this subtitle [subtitle H (§§ 7801–7894) of title VII of Pub. L. 101–239, see Tables for classification], the provisions of this subtitle shall be treated as having been enacted immediately before the provisions of such other subtitles.”
Section 1800 of title XVIII of Pub. L. 99–514 provided that: “For purposes of applying the amendments made by any title of this Act other than this title, the provisions of this title [see Tables for classification] shall be treated as having been enacted immediately before the provisions of such other titles.”
Adjustments for Consumer Price Index Error
Pub. L. 106–554, § 1(a)(7) [title III, § 308], Dec. 21, 2000, 114 Stat. 2763, 2763A–636, provided that:
“(a) Determinations by OMB.—As soon as practicable after the date of the enactment of this Act [Dec. 21, 2000], the Director of the Office of Management and Budget shall determine with respect to each applicable Federal benefit program whether the CPI computation error for 1999 has or will result in a shortfall in payments to beneficiaries under such program (as compared to payments that would have been made if the error had not occurred). As soon as practicable after the date of the enactment of this Act, but not later than 60 days after such date, the Director shall direct the head of the Federal agency which administers such program to make a payment or payments that, insofar as the Director finds practicable and feasible—
“(1) are targeted to the amount of the shortfall experienced by individual beneficiaries, and
“(2) compensate for the shortfall.
“(b) Coordination with Federal Agencies.—As soon as practicable after the date of the enactment of this Act [Dec. 21, 2000], each Federal agency that administers an applicable Federal benefit program shall, in accordance with such guidelines as are issued by the Director pursuant to this section, make an initial determination of whether, and the extent to which, the CPI computation error for 1999 has or will result in a shortfall in payments to beneficiaries of an applicable Federal benefit program administered by such agency. Not later than 30 days after such date, the head of such agency shall submit a report to the Director and to each House of the Congress of such determination, together with a complete description of the nature of the shortfall.
“(c) Implementation Pursuant to Agency Reports.—Upon receipt of the report submitted by a Federal agency pursuant to subsection (b), the Director shall review the initial determination of the agency, the agency’s description of the nature of the shortfall, and the compensation payments proposed by the agency. Prior to directing payment of such payments pursuant to subsection (a), the Director shall make appropriate adjustments (if any) in the compensation payments proposed by the agency that the Director determines are necessary to comply with the requirements of subsection (a) and transmit to the agency a summary report of the review, indicating any adjustments made by the Director. The agency shall make the compensation payments as directed by the Director pursuant to subsection (a) in accordance with the Director’s summary report.
“(d) Income Disregard Under Federal Means-Tested Benefit Programs.—A payment made under this section to compensate for a shortfall in benefits shall, in accordance with guidelines issued by the Director pursuant to this section, be disregarded in determining income under title VIII of the Social Security Act [42 U.S.C. 1001 et seq.] or any applicable Federal benefit program that is means-tested.
“(e) Funding.—Funds otherwise available under each applicable Federal benefit program for making benefit payments under such program are hereby made available for making compensation payments under this section in connection with such program.
“(f) No Judicial Review.—No action taken pursuant to this section shall be subject to judicial review.
“(g) Director’s Report.—Not later than April 1, 2001, the Director shall submit to each House of the Congress a report on the activities performed by the Director pursuant to this section.
“(h) Definitions.—For purposes of this section:
“(1) Applicable federal benefit program.—The term ‘applicable Federal benefit program’ means any program of the Government of the United States providing for regular or periodic payments or cash assistance paid directly to individual beneficiaries, as determined by the Director of the Office of Management and Budget.
“(2) Federal agency.—The term ‘Federal agency’ means a department, agency, or instrumentality of the Government of the United States.
“(3) CPI computation error for 1999.—The term ‘CPI computation error for 1999’ means the error in the computation of the Consumer Price Index announced by the Bureau of Labor Statistics on September 28, 2000.
“(i) Tax Provisions.—In the case of taxable years (and other periods) beginning after December 31, 2000, if any Consumer Price Index (as defined in section 1(f)(5) of the Internal Revenue Code of 1986) reflects the CPI computation error for 1999—
“(1) the correct amount of such Index shall (in such manner and to such extent as the Secretary of the Treasury determines to be appropriate) be taken into account for purposes of such Code, and
“(2) tables prescribed under section 1(f) of such Code to reflect such correct amount shall apply in lieu of any tables that were prescribed based on the erroneous amount.”
Application of Special Rules for Maximum Capital Gains Rate
Pub. L. 105–277, div. J, title IV, § 4002(i)(2), Oct. 21, 1998, 112 Stat. 2681–907, provided that:
“(2)(A) Subparagraphs (A)(i)(II), (A)(ii)(II), and (B)(ii) of section 1(h)(13) of the 1986 Code shall not apply to any distribution after December 31, 1997, by a regulated investment company or a real estate investment trust with respect to—
“(i) gains and losses recognized directly by such company or trust, and
“(ii) amounts properly taken into account by such company or trust by reason of holding (directly or indirectly) an interest in another such company or trust to the extent that such subparagraphs did not apply to such other company or trust with respect to such amounts.
“(B) Subparagraph (A) shall not apply to any distribution which is treated under section 852(b)(7) or 857(b)(8) of the 1986 Code as received on December 31, 1997.
“(C) For purposes of subparagraph (A), any amount which is includible in gross income of its shareholders under section 852(b)(3)(D) or 857(b)(3)(D) of the 1986 Code after December 31, 1997, shall be treated as distributed after such date.
“(D)(i) For purposes of subparagraph (A), in the case of a qualified partnership with respect to which a regulated investment company meets the holding requirement of clause (iii)—
“(I) the subparagraphs referred to in subparagraph (A) shall not apply to gains and losses recognized directly by such partnership for purposes of determining such company’s distributive share of such gains and losses, and
“(II) such company’s distributive share of such gains and losses (as so determined) shall be treated as recognized directly by such company.
The preceding sentence shall apply only if the qualified partnership provides the company with written documentation of such distributive share as so determined.
“(ii) For purposes of clause (i), the term ‘qualified partnership’ means, with respect to a regulated investment company, any partnership if—
“(I) the partnership is an investment company registered under the Investment Company Act of 1940 [15 U.S.C. 80a–1 et seq.],
“(II) the regulated investment company is permitted to invest in such partnership by reason of section 12(d)(1)(E) of such Act [15 U.S.C. 80a–12
(d)(1)(E)] or an exemptive order of the Securities and Exchange Commission under such section, and
“(III) the regulated investment company and the partnership have the same taxable year.
“(iii) A regulated investment company meets the holding requirement of this clause with respect to a qualified partnership if (as of January 1, 1998)—
“(I) the value of the interests of the regulated investment company in such partnership is 35 percent or more of the value of such company’s total assets, or
“(II) the value of the interests of the regulated investment company in such partnership and all other qualified partnerships is 90 percent or more of the value of such company’s total assets.”
Capital Gain Distribution by Trust
Pub. L. 105–277, div. J, title IV, § 4003(b), Oct. 21, 1998, 112 Stat. 2681–909, as amended by Pub. L. 106–554, § 1(a)(7) [title III, § 312(b)], Dec. 21, 2000, 114 Stat. 2763, 2763A–640, provided that: “In the case of any capital gain distribution made after 1997 by a trust to which section 664 of the 1986 Code applies with respect to amounts properly taken into account by such trust during 1997, paragraphs (5)(A)(i)(I), (5)(A)(ii)(I), (7)(A)(i)(II), and (13)(A) of section 1(h) of the 1986 Code (as in effect for taxable years ending on December 31, 1997) shall not apply.”
Election To Recognize Gain on Assets Held on January 1, 2001
Pub. L. 105–34, title III, § 311(e), Aug. 5, 1997, 111 Stat. 835, as amended by Pub. L. 106–554, § 1(a)(7) [title III, § 314(c)], Dec. 21, 2000, 114 Stat. 2763, 2763A–643; Pub. L. 107–147, title IV, § 414(a), Mar. 9, 2002, 116 Stat. 54, provided that: “For purposes of the Internal Revenue Code of 1986—
“(1) In general.—A taxpayer other than a corporation may elect to treat—
“(A) any readily tradable stock (which is a capital asset) held by such taxpayer on January 1, 2001, and not sold before the next business day after such date, as having been sold on such next business day for an amount equal to its closing market price on such next business day (and as having been reacquired on such next business day for an amount equal to such closing market price), and
“(B) any other capital asset or property used in the trade or business (as defined in section 1231(b) of the Internal Revenue Code of 1986) held by the taxpayer on January 1, 2001, as having been sold on such date for an amount equal to its fair market value on such date (and as having been reacquired on such date for an amount equal to such fair market value).
“(2) Treatment of gain or loss.—
“(A) Any gain resulting from an election under paragraph (1) shall be treated as received or accrued on the date the asset is treated as sold under paragraph (1) and shall be included in gross income notwithstanding any provision of the Internal Revenue Code of 1986.
“(B) Any loss resulting from an election under paragraph (1) shall not be allowed for any taxable year.
“(3) Election.—An election under paragraph (1) shall be made in such manner as the Secretary of the Treasury or his delegate may prescribe and shall specify the assets for which such election is made. Such an election, once made with respect to any asset, shall be irrevocable. Such an election shall not apply to any asset which is disposed of (in a transaction in which gain or loss is recognized in whole or in part) before the close of the 1-year period beginning on the date that the asset would have been treated as sold under such election.
“(4) Readily tradable stock.—For purposes of this subsection, the term ‘readily tradable stock’ means any stock which, as of January 1, 2001, is readily tradable on an established securities market or otherwise.
“(5) Disposition of interest in passive activity.—Section 469(g)(1)(A) of the Internal Revenue Code of 1986 shall not apply by reason of an election made under paragraph (1).”
[Pub. L. 107–147, title IV, § 414(b), Mar. 9, 2002, 116 Stat. 54, provided that: “The amendments made by this section [amending section 311(e) of Pub. L. 105–34, set out above] shall take effect as if included in section 311 of the Taxpayer Relief Act of 1997 [Pub. L. 105–34].”]
Election To Pay Additional 1993 Taxes in Installments
Section 13201(d) of Pub. L. 103–66 provided that:
“(1) In general.—At the election of the taxpayer, the additional 1993 taxes may be paid in 3 equal installments.
“(2) Dates for paying installments.—In the case of any tax payable in installments by reason of paragraph (1)—
“(A) the first installment shall be paid on or before the due date for the taxpayer’s taxable year beginning in calendar year 1993,
“(B) the second installment shall be paid on or before the date 1 year after the date determined under subparagraph (A), and
“(C) the third installment shall be paid on or before the date 2 years after the date determined under subparagraph (A).
For purposes of the preceding sentence, the term ‘due date’ means the date prescribed for filing the taxpayer’s return determined without regard to extensions.
“(3) Extension without interest.—For purposes of section 6601 of the Internal Revenue Code of 1986, the date prescribed for the payment of any tax payable in installments under paragraph (1) shall be determined with regard to the extension under paragraph (1).
“(4) Additional 1993 taxes.—
“(A) In general.—For purposes of this subsection, the term ‘additional 1993 taxes’ means the excess of—
“(i) the taxpayer’s net chapter 1 liability as shown on the taxpayer’s return for the taxpayer’s taxable year beginning in calendar year 1993, over
“(ii) the amount which would have been the taxpayer’s net chapter 1 liability for such taxable year if such liability had been determined using the rates which would have been in effect under section 1 of the Internal Revenue Code of 1986 for taxable years beginning in calendar year 1993 but for the amendments made by this section [amending this section and sections
41,
63,
68,
132,
151,
453A,
513,
531, and
541 of this title] and section
13202 [amending this section and sections
531 and
541 of this title] and such liability had otherwise been determined on the basis of the amounts shown on the taxpayer’s return.
“(B) Net chapter 1 liability.—For purposes of subparagraph (A), the term ‘net chapter 1 liability’ means the liability for tax under chapter 1 of the Internal Revenue Code of 1986 determined—
“(i) after the application of any credit against such tax other than the credits under sections
31 and
34, and
“(ii) before crediting any payment of estimated tax for the taxable year.
“(5) Acceleration of payments.—If the taxpayer does not pay any installment under this section on or before the date prescribed for its payment or if the Secretary of the Treasury or his delegate believes that the collection of any amount payable in installments under this section is in jeopardy, the Secretary shall immediately terminate the extension under paragraph (1) and the whole of the unpaid tax shall be paid on notice and demand from the Secretary.
“(6) Election on return.—An election under paragraph (1) shall be made on the taxpayer’s return for the taxpayer’s taxable year beginning in calendar year 1993.
“(7) Exception for estates and trusts.—This subsection shall not apply in the case of an estate or trust.”
Transitional Rule for Maximum Capital Gains Rate
Section 302(c) of Pub. L. 99–514, which related to long-term capital gain on rights to royalties paid under particular leases and assignments, was repealed by Pub. L. 100–647, title I, § 1003(b)(1), Nov. 10, 1988, 102 Stat. 3382.
Coordination With Other Provisions
Pub. L. 99–509, title VIII, § 8081, Oct. 21, 1986, 100 Stat. 1965, provided that: “Nothing in any provision of this Act [see Tables for classifications] (other than this title) shall be construed as—
“(1) imposing any tax (or exempting any person or property from any tax),
“(2) establishing any trust fund, or
“(3) authorizing amounts to be expended from any trust fund.”
[S.Con.Res. 174, agreed to Oct. 18, 1986, provided: “That, in the enrollment of the bill (H.R. 5300) to provide for reconciliation pursuant to section 2 of the concurrent resolution on the budget for fiscal year 1987, the Clerk of the House of Representatives shall insert at the end of section 8081 of the bill the following: Paragraph (3) shall not apply to any authorization made by title IX of this Act.” As a result of clerical error, the sentence was inserted at the end of section 8101 of the bill, and appears at the end of section 8101 of Pub. L. 99–509, 100 Stat. 1967.]
Pub. L. 99–499, title V, § 531, Oct. 17, 1986, 100 Stat. 1782, provided that: “Notwithstanding any provision of this Act [see Tables for classifications] not contained in this title [see Short Title of 1986 Amendment note above], any provision of this Act (not contained in this title) which—
“(1) imposes any tax, premium, or fee,
“(2) establishes any trust fund, or
“(3) authorizes amounts to be expended from any trust fund,
shall have no force or effect.”
Elimination of 50-Cent Rounding Errors
Section 101(a)(3) of Pub. L. 97–448, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that: “If any figure in any table—
“(A) which is set forth in section 1 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (as amended by section 101 of the Economic Recovery Tax Act of 1981 [Pub. L. 97–34, title I, § 101, Aug. 13, 1981, 95 Stat. 176], and
“(B) which applies to married individuals filing separately or to estates and trusts,
differs by not more than 50 cents from the correct amount under the formula used in constructing such table, such figure is hereby corrected to the correct amount.” [See 1982 Amendment note above.]
Policy With Respect to Additional Tax Reductions
Section 3 of Pub. L. 95–600 provided that: “As a matter of national policy the rate of growth in Federal outlays, adjusted for inflation, should not exceed 1 percent per year between fiscal year 1979 and fiscal year 1983; Federal outlays as a percentage of gross national product should decline to below 21 percent in fiscal year 1980, 20.5 percent in fiscal year 1981, 20 percent in fiscal year 1982 and 19.5 percent in fiscal year 1983; and the Federal budget should be balanced in fiscal years 1982 and 1983. If these conditions are met, it is the intention that the tax-writing committees of Congress will report legislation providing significant tax reductions for individuals to the extent that these tax reductions are justified in the light of prevailing and expected economic conditions.”
Effective Date of Certain Definitions and Designations
Pub. L. 94–455, title XIX, § 1908, Oct. 4, 1976, 90 Stat. 1836, provided that: “For purposes of any amendment made by any provision of this Act [see Tables for classification] (other than this title)—
“(1) which contains a term the meaning of which is defined in or modified by any provision of this title, and
“(2) which has an effective date earlier than the effective date of the provision of this title defining or modifying such term,
that definition or modification shall be considered to take effect as of such earlier effective date.”
Congressional Declaration Relating to 1975 Amendment
Pub. L. 94–164, § 1A, Dec. 23, 1975, 89 Stat. 970, provided that:
“(a) Congress is determined to continue the tax reduction for the first 6 months of 1976 in order to assure continued economic recovery.
“(b) Congress is also determined to continue to control spending levels in order to reduce the national deficit.
“(c) Congress reaffirms its commitments to the procedures established by the Congressional Budget and Impoundment Control Act of 1974 [see Tables for classification of Pub. L. 93–344, July 12, 1974, 88 Stat. 297] under which it has already established a binding spending ceiling for the fiscal year 1976.
“(d) If the Congress adopts a continuation of the tax reduction provided by this Act [see Short Title of 1975 Amendment note above] beyond June 30, 1976, and if economic conditions warrant doing so, Congress shall provide, through the procedures in the Budget Act [Pub. L. 93–344], for reductions in the level of spending in the fiscal year 1977 below what would otherwise occur, equal to any additional reduction in taxes (from the 1974 tax rate levels) provided for the fiscal year 1977: Provided, however, That nothing shall preclude the right of the Congress to pass a budget resolution containing a higher or lower expenditure figure if the Congress concludes that this is warranted by economic conditions or unforeseen circumstances.”
Congressional Declaration Relating to 1964 Amendment
Pub. L. 88–272, § 1, Feb. 26, 1964, 78 Stat. 19, provided that: “It is the sense of Congress that the tax reduction provided by this Act [see Short Title of 1964 Amendment note above] through stimulation of the economy, will, after a brief transitional period, raise (rather than lower) revenues and that such revenue increases should first be used to eliminate the deficits in the administrative budgets and then to reduce the public debt. To further the objective of obtaining balanced budgets in the near future, Congress by this action, recognizes the importance of taking all reasonable means to restrain Government spending and urges the President to declare his accord with this objective.”
Definitions
Pub. L. 105–277, div. J, title IV, § 4001(a), Oct. 21, 1998, 112 Stat. 2681–906, provided that: “For purposes of this title [amending this section, sections
51,
56,
67,
68,
86,
135,
137,
163,
172,
219,
221,
264,
351,
368,
408A,
469,
873,
954,
2001,
2031,
6015,
6103,
6159,
6311,
6404,
6693,
7421,
7443A,
7491,
9503, and
9510 of this title, and sections
401 and
407 of Title
42, The Public Health and Welfare, enacting provisions set out as notes under this section, sections
51,
67,
68,
86,
172,
833,
6103, and
9503 of this title, and section
401 of Title
42, and amending provisions set out as notes under sections
6601 and
7508A of this title]—
“(1) 1986 code.—The term ‘1986 Code’ means the Internal Revenue Code of 1986.
“(2) 1998 act.—The term ‘1998 Act’ means the Internal Revenue Service Restructuring and Reform Act of 1998 (Public Law 105–206) [see Tables for classification].
“(3) 1997 act.—The term ‘1997 Act’ means the Taxpayer Relief Act of 1997 (Public Law 105–34) [see Tables for classification].”
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