(a) In generalSection 421(a) shall apply with respect to the transfer of a share of stock to an individual pursuant to his exercise of an incentive stock option if— (1) no disposition of such share is made by him within 2 years from the date of the granting of the option nor within 1 year after the

shelter partnershipsIn the case of a tax shelter which is a partnership, in applying section 704(d) to a deduction or loss for any taxable year attributable to an item which is deductible by reason of subparagraph (A), the term "cash basis" shall be substituted for the term "adjusted basis". (ii) Other tax sheltersUnder regulations

Sections 5671, 5673, 5684, 6651, and 6656 of Title 26 United States Code provide penalties for evasion or failure to pay tax on beer or for failure to file a tax return. (Act of Aug. 16, 1954, 68A Stat. 821, as amended, 826, as amended (26 U.S.C. 6651, 6656); sec. 201, Pub. L. 85-859, 72 Stat. 1408, 1410, as amended (

mid-year transaction and the foreign income tax amount is allocated under §1.336-2(g)(3)(ii), §1.338-9(d), or §1.901-2(f)(4), then, to the extent any portion of the foreign income tax amount is

) Transferability of propertyThe rights of a person in property are transferable only if the rights in such property of any transferee are not subject to a substantial risk of forfeiture. (3) Sales which may give rise to suit under section 16(b) of the Securities Exchange Act of 1934So long as the sale of property at a profit could subject a person to

(a) For estates and trusts—(1) In general. Every fiduciary, or at least one of joint fiduciaries, must make a return of income on form 1041 (or by use of a composite return pursuant to §1.6012-5) and attach the required form if the estate or trust has items of tax preference (as defined in

(a) Scope. The effective dates of this section apply for purposes of §§1.142-0 through 1.142-2, 1.144-0 through 1.144-2, 1.147-0 through 1.147-2, and 1.150-4. (b) Effective dates. Except as otherwise provided in this section, the regulations designated in

(a) General rule. Subject to the provisions of section 423(c) and §1.423-2(k), the special rules of income tax treatment provided in section 421(a) apply with respect to the transfer of a share of stock to an individual pursuant to the individual's exercise of an option granted under an employee stock purchase plan, as defined in

The following table of contents is provided to facilitate the use of §§1.1367-1 through 1.1367-3. §1.1367-1 Adjustments to basis of shareholder's stock in an

, or the rate imposed by 26 U.S.C. 5001(a)(1) (including adjustments to the effective tax rate under 26 U.S.C. 5010), on each proof gallon of such distilled spirits or articles, other than eligible articles, containing distilled spirits coming into the United States or consumed on the island. Such

(a) The collection of taxes assessed under 26 U.S.C. 6862 (referred to as a “jeopardy assessment” for purposes of this section) of any tax may be stayed by filing with the appropriate TTB officer a bond on the form to be furnished by TTB upon request. (b) The bond may be filed: (1) At any time before the

Amendment Amendment by Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.

1984—Subsec. (b). Pub. L. 98–369 struck out ", except that stamps required by or prescribed pursuant to the provisions of section 5205 or section 5235 may be prepared and distributed by persons authorized by the Secretary, under such controls for the protection of the revenue as shall be deemed

Prior Provisions A prior section 33 was renumbered section 27 of this title. Amendments 1984

Natural wine is the product of the juice or must of sound, ripe grapes or other sound, ripe fruit, made with such cellar treatment as may be authorized under section 5382 and containing not more than 21 percent by weight of total solids. Any wine conforming to such definition except for having become substandard by reason of its condition shall be deemed

reduced by the amount of any past-due support (as defined in section 464(c) of the Social Security Act) owed by that person of which the Secretary has been notified by a State in accordance with section 464 of such Act. The Secretary shall remit the amount by which the overpayment is so reduced to the State

Manner of taxing—(1) Foreign corporations not engaged in U.S. business. A foreign corporation which at no time during the taxable year is engaged in trade or business in the United States is taxable, as provided in §1.881-2, on all income received from sources within the United States which is fixed or determinable annual or periodical income and on

(a) In general. A claim for credit or payment described in §48.6427-1 with respect to fuel used for nontaxable, farming, or other purposes taxable at a lower rate or in §48.6427-2 with respect to fuel used either in an intercity

(a) Scope. This section provides the rules for determining the 30-percent additional first year depreciation deduction allowable under section 1400L(b) for qualified New York Liberty Zone property. (b) Definitions. For purposes of section 1400L(b) and this section, the definitions of the terms in

targeted jobs credit (determined without regard to the tax liability limitation in paragraph (a)(1) of this section) and the new jobs credit (determined without regard to the tax liability limitation in (a)(2) of this section) shall not exceed the tax imposed by chapter 1, reduced by the credits enumerated in section 53(a). (Secs. 44B, 381, and 7805 of the Internal Revenue Code of 1954 (92 Stat. 2834,

(a) through (c) [Reserved]. For further guidance, see §1.987-8(a) through (c). (d) Annual deemed termination election. A taxpayer, including a taxpayer described in §1.987-1(b)(1)(ii) to which

(a) (1) through (a)(2) [Reserved]. For further guidance, see §1.988-1(a)(1) through (2). (3) Specified owner functional currency transactions of a section 987 QBU not treated as section 988 transactions. Specified owner functional currency transactions, as

(a) Sections 1.1254-1 through 1.1254-3 and 1.1254-5 are effective with respect to any disposition of natural resource recapture property occurring after March 13, 1995. The rule in §1.1254-1(b)(2)(iv)(A)(2), relating to a

section 1256(e)(2) must satisfy the requirements of §1.1221-2(f)(1). Solely for purposes of section 1256(f)(1), however, an identification that does not satisfy all of the requirements of §1.1221-2(f)(1) is nevertheless treated as an identification under section 1256(e)(2).

(a) Requirement. Each individual (including a fiduciary) shall sign the income tax return required to be made by him, except that the return may be signed for the taxpayer by an agent who is duly authorized in accordance with paragraph (a)(5) or (b) of §1.6012-1 to make such return. Other returns, statements, or documents

The “entire gross estate” wherever situated of a nonresident who was not a citizen of the United States at the time of his death is made up in the same way as the “gross estate” of a citizen or resident of the United States. See §§20.2031-1 through 20.2044-1. See paragraphs (a) and (c) of

(a) Exempt sales. No credit or payment shall be allowed or made under §48.6421-1 or §48.6421-2 with respect to gasoline which was exempt from the tax imposed by section 4081. For example, credit or payment may not be allowed or