Chapter 1 of the Code before the provisions of section 274 become applicable. An expenditure for entertainment, to the extent it is lavish or extravagant, shall not be allowable as a deduction. The taxpayer should then substantiate such an expenditure in accordance with the rules under section 274(d). See §1.274-5. Section 274 is a disallowance provision exclusively, and does not make deductible any

(C) such person (or any other person) sells such article to a related person with respect to the manufacturer, producer, or importer, then such related person shall be liable for tax under section 4161 in the same manner as if such related person were the manufacturer of the article. (2) Credit for tax previously

(I) has reached agreement with the Secretary (or such agreement has been reached by the transferee) for the payment of any tax imposed by section 871(b)(1) or 882(a)(1) on any gain recognized by the transferor on the disposition of the United States real property interest, or (II) is exempt from any tax imposed by

(a) Allowance of deductionThere is allowed as a deduction for the taxable year an amount equal to the sum of the amounts contributed by the taxpayer during the taxable year to or under a trust or trusts described in section 501(c)(21). (b) LimitationThe maximum amount of the deduction

"Secretary" wherever appearing. 1966—Subsec. (b)(1). Pub. L. 89–809, §211(d)(1), added subpars. (D) and (E). Subsec. (d). Pub. L. 89–809, §211(d)(2), inserted references to qualified per-unit retain certificates. 1962—Pub. L. 87–834 substituted "Returns regarding payments of patronage dividends" for "Returns regarding patronage dividends" in

(a) Generally applicable effective dates. Except as otherwise provided in this section— (1) The rules contained in §§1.469-1, 1.469-1T, 1.469-2, 1.469-2T, 1.469-3, 1.469-3T, 1.469-4, 1.469-5, and 1.469-5T apply for taxable years ending after May 10, 1992. (2) The

long-term capital lossAny loss recognized on the disposition of converted wetland or highly erodible cropland shall be treated as a long-term capital loss. (c) DefinitionsFor purposes of this section— (1) Converted wetlandThe term "converted wetland" means any converted wetland (as defined in

recapping or retreading of a tire. (In the case of such deterioration, see section 6416(b)(2) and §48.6416(b)-2 to secure a refund or credit of the tax paid.) (c) Tires of the type used on highway vehicles. (1) The term “tires of the type used on highway vehicles”, for purposes of §§48.4071-1

sec. 1381 and following), such an organization shall be considered an organization exempt from income taxes for purposes of any law which refers to organizations exempt from income taxes. (b) Applicable rules (1) Exempt farmers' cooperativesThe farmers' cooperatives exempt from taxation to the extent provided in subsection (a) are farmers', fruit growers', or like associations

(a)(7) or (b)(10). The commencing date of an award of educational assistance for such a veteran or servicemember is the latest of the following: (1) The commencing date as determined by paragraphs (a) through (c) and (f) through (j) of this section; (2) The date of election provided that— (i) The servicemember initiated the $1,200 reduction in basic pay required by

(1) In generalThere is hereby imposed on the taxable income of an electing Settlement Trust, other than its net capital gain, a tax at the lowest rate specified in section 1(c).1 (2) Capital gainIn the case of an electing Settlement Trust with a net capital gain for the taxable year, a tax is

(d)(4)) to any individual during any calendar year, (2) the employee contributions which are treated as having been paid for purposes of section 72(r), (3) the name and address of such individual, and (4) such other information as the Secretary may require.

section 3311 of this title. Statutory Notes and Related Subsidiaries Effective Date Section applicable with respect to remuneration paid after 1961 for services performed after 1961, see

pursuant to section 11(f) or 13(c) of the Federal Deposit Insurance Act (or under any other similar provision of law), regardless of whether any note or other instrument is issued in exchange therefor. (d) Domestic building and loan associationFor purposes of this section, the term "domestic building and loan association" has

application under this section in accordance with paragraph (b) of this section. For guidance on requesting an extension of time to file Form 1120-ND for purposes of reporting contributions received, income earned, administrative expenses of operating the fund, and the tax on modified gross income, see §1.6081-3 of this chapter. (b)

amendment by Pub. L. 115–141 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Mar. 23, 2018, for purposes of determining liability for tax for periods ending after Mar. 23, 2018, see section 401(e) of Pub. L. 115–141, set out as a note under

(a) In general. This section applies for purposes of determining under §1.871-7 or §1.871-8 the tax of a nonresident alien individual, or under