year of such taxpayer beginning in a calendar year, such individual shall be treated as having no dependents for any taxable year of such individual beginning in such calendar year. (2) Married dependentsAn individual shall not be treated as a dependent of a taxpayer under subsection (a) if such individual has made a joint return with the individual's spouse under

-commercial scientific/educational institutions requesters; (3) News media requesters, and; (4) All other requesters. (c) Definitions. For purposes of this section: (1) Commercial use request is a request that asks for information for a use or a purpose that furthers a commercial, trade, or

(a) Overview—(1) In general. This section and §§1.171-2 through 1.171-5 provide rules for the determination and amortization of bond premium by a holder. In general, a holder amortizes bond premium by offsetting the interest allocable to an accrual period with the premium allocable to that

(2) Is a student, as defined in paragraph (b) of §1.151-3. No exemption shall be allowed under section 151(e) for any dependent who has made a joint return with his spouse under section 6013 for the taxable year beginning in the calendar year in which the taxable year of the taxpayer begins. The amount provided in section 151(e)(1)(A) is $750 in

(a) So-called taxes for local benefits referred to in paragraph (g) of §1.164-2, more properly assessments, paid for local benefits such as street, sidewalk, and other like improvements, imposed because of and measured by some benefit inuring directly to the property against which the assessment is levied are not deductible as taxes. A tax is considered assessed

(a) Unrelated debt-financed income and deductionsIn computing under section 512 the unrelated business taxable income for any taxable year— (1) Percentage of income taken into accountThere shall be included with respect to each debt-financed property as an item of gross income

. X is the owner (within the meaning of §1.181-1(a)(2)) of film ABC. X incurs production costs in year 1, but does not commence principal photography for film ABC until year 2. In year 1, X reasonably expects, based on all of the facts and circumstances, that film ABC will be set for production and will be a qualified film or television production. Provided that X satisfies all other requirements of

(a) A corporation described in section 501(c)(2) and otherwise exempt from tax under section 501(a) is taxable upon its unrelated business taxable income. For taxable years beginning before January 1, 1970, see §1.511-2(c)(4). Since a corporation described in section 501(c)(2) cannot be exempt under section 501(a) if it engages in any business other than that of

Where a proprietor of a bonded wine cellar desires to return wines to his bonded wine cellar as provided in §28.130, he shall submit a written application, in duplicate, to the appropriate TTB officer, for approval of the return of the wines. The application shall show. (a) Name, address, and registry number of the bonded wine cellar.

(a) In generalExcept as provided in regulations prescribed by the Secretary, if there is an exchange described in section 751(a) of any interest in a partnership during any calendar year, such partnership shall make a return for such calendar year stating— (1) the name and address of the transferee

stock option in a transaction to which section 424(a) applies. (b) Employee stock purchase planFor purposes of this part, the term "employee stock purchase plan" means a plan which meets the following requirements: (1) the plan provides that options are to be granted only to employees of the employer corporation or of

reduced by distributions made during the taxable year and by earnings and profits described in section 959(c)(1). (2) Special rule for U.S. property acquired before corporation is a controlled foreign corporationIn applying subsection (a) to any taxable year, there shall be disregarded any item of United States property which was acquired by the controlled

(b) Tax on certain farmers' cooperativesAn organization described in subsection (a)(1) shall be subject to the tax imposed by section 11. (c) Cross referenceFor treatment of income from load loss transactions of organizations described in subsection (a)(2)(C), see

(a) DefinitionsFor purposes of this subchapter— (1) Taxable chemicalExcept as provided in subsection (b), the term "taxable chemical" means any substance— (A) which is listed in the table under section 4661(b), and

(a) General ruleIn addition to the penalty imposed by section 7203 (relating to willful failure to file return, supply information, or pay tax), if any S corporation required to file a return under section 6037 for any taxable year—

paragraph (1) or (2)(C) of section 3406(d), then such individual shall, in addition to any other penalty provided by law, upon conviction thereof, be fined not more than $1,000, or imprisoned not more than 1 year, or both." 1984—Pub. L. 98–369 in subsecs. (a) and (b) substituted "in addition to" for "in lieu of" and struck out reference to

section 4661 on the taxable chemicals used as materials in the manufacture or production of such substance if such taxable chemicals had been sold in the United States for use in the manufacture or production of such taxable substance. (2) Rate where importer does not furnish information to SecretaryIf the importer does not furnish to the Secretary (at

) of— (I) taxable income computed without regard to the deductions under this section and sections 199A and 250, over (II) the amount determined under subparagraph (A). For purposes of this subtitle, the term "net operating loss deduction" means the deduction allowed by this

(I) section 6320 (relating to notice and opportunity for hearing upon filing of notice of lien), or (II) section 6330 (relating to notice and opportunity for hearing before levy), and (ii) an application under

. For all of Partnership's 2019, 2020, and 2021 partnership taxable years, Partnership has two equal partners, A and B. The IRS initiates an administrative proceeding with respect to Partnership's 2019 partnership taxable year. The IRS mails a notice of proposed partnership adjustment (NOPPA) to Partnership for the 2019 partnership taxable year proposing a recharacterization adjustment, changing a $100 ordinary loss to a $100 long term capital loss. Under

determination of whether a plan or a group of aggregated plans exceeds the limitations imposed by section 415 for a particular limitation year is, except as otherwise provided, made by taking into account the aggregation of plan rules provided in section 415(f) and §1.414(f)-1. (2) Defined contribution plans. A plan is