return periods and pay their taxes on a semimonthly basis as provided in paragraph (e) of this section. (b) Annual return period. Subject to paragraph (d) of this section, a taxpayer who reasonably expects to be liable for not more than $1,000 in taxes with respect to distilled spirits imposed by 26 U.S.C. 5001 and 7652 for the current

(a) For rules regarding the election to use the class life system authorized by section 167(m), see the provisions of §1.167(a)-11. (Sec. 167(m), 85 Stat. 508 (26 U.S.C. 167))

Except as provided in section 960(a)(3) and §1.960-2, any distribution to a United States person which is excluded from the gross income of such person under section 959(a)(1) and §1.959-1 shall be treated for purposes of chapter 1 (relating to normal taxes and surtaxes

If there is a change in the location of the alcohol fuel plant or of the area included within the plant premises, the proprietor must: (a) File an application to amend the permit on form TTB F 5110.74, Application and Permit for an Alcohol Fuel Producer Under 26 U.S.C. 5181, or a letterhead application to amend the permit;

Whenever any person required by law to pay tax on cigarette papers and tubes fails to pay such tax, the tax shall be ascertained and assessed against such person, subject to the limitations prescribed in 26 U.S.C. 6501. The tax so assessed shall be in addition to the penalties imposed by law for failure to pay such tax when required. Except in cases where delay may

26 U.S.C. Chapter 52, and regulations thereunder, including, but not limited to, the timely payment of taxes imposed by such chapter and penalties and interest in connection therewith for which the manufacturer may become liable to the United States. (72 Stat. 1421; 26 U.S.C. 5711)

Editorial Notes Amendments 1976—Pub. L. 94–455 struck out "or his delegate" after "Secretary". 1954—Act Sept. 1, 1954, substituted "section 3121(b)(9)" for "

For purposes of this chapter, the taxable amount in the case of a direct skip shall be the value of the property received by the transferee. Statutory Notes and Related Subsidiaries

, obligation, or withdrawal described in subparagraph (1)(ii) of this paragraph, the regulations in this part supersede Treasury Decision 5330, as amended (26 CFR (1939) part 32). (b) Nonrecognition and accumulation. Section 511 of the Act provides, under conditions specified, for the nonrecognition, for income and excess-profits tax purposes, of the gain realized from the sale or indemnification for loss of certain vessels including

(a) Length of period— (1) General rule. In any case in which a tax has been assessed within the statutory period of limitation properly applicable thereto, a proceeding in court to collect such tax may be begun, or levy for the collection of such tax may be made, within 10 years after the assessment thereof. (2)

Pub. L. 114–74, title XI, §1101(a), (g), Nov. 2, 2015, 129 Stat. 625, 638, applicable to returns filed for partnership taxable years beginning after Dec. 31, 2017. Section 6223, added

section 245A) with respect to which it is a United States shareholder after such transfer, such domestic corporation shall include in gross income for the taxable year which includes such transfer an amount equal to the transferred loss amount with respect to such transfer. (b) Transferred loss amountFor purposes of this section, the term "transferred loss amount" means, with respect to any