Assessment of deficiency.

(1) Assessment of deficiency. Except as provided in subparagraph (3) of this paragraph, if an election under section 981(a) and 1.981-1, or under section 981(c)(1) and 1.981-2, is properly made, the period within which a deficiency may be assessed for any taxable year to which the election applies shall, to the extent the deficiency is attributable to the application of such election, not expire before one year after the date of the election, determined under paragraph (b) of this section.


26 CFR § 1.981-3

Scoping language

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