sections 5601(a)(1) and 5615(1). (2) For provisions requiring notification to set up a still, boiler, or other vessel for distilling, see section 5101(a)(2).

(1) In generalExcept as otherwise provided in this subsection, this section shall apply to any organization which is not described in section 170(c) and which— (A) is described in subsection (c) (other than paragraph (1) thereof) or (d) of

by levy or by proceeding in court with or without assessment. (b) Cross references (1) For assessment or collection of the amount of the deficiency determined by the Tax Court pending appellate court review, see section 7485. (2) For dismissal of petition by Tax Court as affirmation of deficiency

under the last sentence of such subsection) exceeds the tax which, without regard to this section, is imposed pursuant to section 871. (2) Individuals subject to this sectionThis section shall apply to any individual if— (A) the average annual net income tax (as defined in

(a) General ruleThe amount of the taxable income of any new loss corporation for any post-change year which may be offset by pre-change losses shall not exceed the section 382 limitation for such year. (b)

(a) In general. Except as provided in paragraph (b) of this section, a return described in §41.6011(a)-1 must be filed by the last day of the month following the month in which— (1) A person becomes liable for tax under

(a) General ruleNotwithstanding any other provision of this chapter— (1) Treatment as ordinary income or loss (A) In generalExcept as otherwise provided in this section, any foreign currency gain or loss attributable to a section 988

section 1361(b) but without regard to paragraph (1)(C) thereof), and (ii) any payment to a disqualified individual with respect to a corporation (other than a corporation described in clause (i)) if— (I) immediately before the change described in paragraph (2)(A)(i), no stock in such corporation was readily tradeable on an established

Section 527 provides that a political organization is considered an organization exempt from income taxes for the purpose of any law which refers to organizations exempt from income taxes. A political organization is subject to tax only to the extent provided in section 527. In general, a political organization is an organization that is organized and operated primarily for an exempt function as defined in

and is so used. (Secs. 4071(b), 4071(c), 4073(c), and 7805, Internal Revenue Code of 1954. (80 Stat. 331, 26 U.S.C. 4071(b); 68A Stat. 482, 26 U.S.C. 4071(c); 70 Stat. 389,

Revenue Code of 1954; 80 Stat. 331, 26 U.S.C. 4071(b); 68A Stat. 482, 26 U.S.C. 4071(c); 70 Stat. 389, 26 U.S.C. 4073(c); 68A Stat. 917,

and executed on TTB Form 5154.3, Bond for Drawback Under 26 U.S.C. 5111, in accordance with the provisions of this part and the instructions printed on the form. (c) Bonds executed before July 1, 2008. On and after July 1, 2008, a reference to

The manufacturer of tobacco products shall be liable for the taxes imposed on tobacco products by 26 U.S.C. 5701: Provided, That when tobacco products are transferred in bond pursuant to 26 U.S.C. 5704, to the bonded premises of another

taxable year of the discharge, and any net operating loss carryover to such taxable year. (B) General business creditAny carryover to or from the taxable year of a discharge of an amount for purposes for determining the amount allowable as a credit under section 38 (relating to general business credit). (C

(a) In generalUnless the executor elects not to have this section apply, in applying sections 2001 and 2101 to the estate of a qualified decedent, the rate schedule set forth in subsection (c) shall be deemed to be the rate schedule set forth in

officer. The term "other amounts" in the first sentence of this paragraph includes interest paid or accrued by the transferee on indebtedness with respect to such contract or any interest therein if such interest paid or accrued is not allowable as a deduction by reason of section 264(a)(4). (3) Exception to valuable

acquired for resaleReal or personal property described in section 1221(a)(1) which is acquired by the taxpayer for resale. For purposes of paragraph (1), the term "tangible personal property" shall include a film, sound recording, video tape, book, or similar property. (c) General exceptions

occurring prior to May 10, 1989. See §1.597-8 for rules regarding FFA received or accrued on or after May 10, 1989, that relates to an acquisition that occurred before May 10, 1989. (b) Applicability date of §§1.597-1 through 1.597-6.