#aac? ,,congress #b;d ,session ,h4 ,r4 #egga ,,an ,,act ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to ext5d c]ta9 expir+ provisions & make te*nical corrections1 to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide = ! tax treatm5t ( ,,able acc\nts e/abli%$ "u ,/ate programs = ! c>e ( family memb]s ) disabilities1 & = o!r purposes4 ,a ,tax ,increase ,prev5tion ,act ( #bjad #a4 ,%ort title1 etc 7a7 ,%ort title ,?is division may be cit$ z ! ,tax ,increase ,prev5tion ,act ( #bjad4 7b7 ,am5dm5t ( #aihf ,code ,except z o!rwise expressly provid$1 :5ev] 9 ?is ,act an am5dm5t or repeal is express$ 9 t]ms ( an am5dm5t to1 or repeal (1 a section or o!r provision1 ! ref]5ce %all be consid]$ to be made to a section or o!r provision ( ! ,int]nal ,rev5ue ,code ( #aihf4 7c7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,division ,a--,tax ,increase ,prev5tion ,act ( #bjad ,sec4 #a4 ,%ort title1 etc4 ,title ,i--,c]ta9 expir+ provisions ,subtitle ,a--,individual tax ext5d]s ,sec4 #aja4 ,ext5sion ( d$uction = c]ta9 exp5ses ( elem5t>y & second>y s*ool tea*]s4 ,sec4 #ajb4 ,ext5sion ( exclusion f gross income ( dis*>ge ( qualifi$ pr9cipal resid5ce indebt$ness4 ,sec4 #ajc4 ,ext5sion ( p>ity = employ]-provid$ mass transit & p>k+ b5efits4 ,sec4 #ajd4 ,ext5sion ( mortgage insurance premiums treat$ z qualifi$ resid5ce int]e/4 ,sec4 #aje4 ,ext5sion ( d$uction ( ,/ate & local g5]al sales taxes4 ,sec4 #ajf4 ,ext5sion ( special rule = contributions ( capital ga9 real prop]ty made = cons]vation purposes4 ,sec4 #ajg4 ,ext5sion ( above-!-l9e d$uction = qualifi$ tuition & relat$ exp5ses4 ,sec4 #ajh4 ,ext5sion ( tax-free di/ributions f individual retirem5t plans = *>itable purposes4 ,subtitle ,b--,bus9ess tax ext5d]s ,sec4 #aaa4 ,ext5sion ( rese>* cr$it4 ,sec4 #aab4 ,ext5sion ( tempor>y m9imum l[-income h\s+ tax cr$it rate = non-f$]ally subsidiz$ build+s4 ,sec4 #aac4 ,ext5sion ( milit>y h\s+ all[ance exclusion = det]m9+ :e!r a t5ant 9 c]ta9 c\nties is l[-income4 ,sec4 #aad4 ,ext5sion ( ,indian employm5t tax cr$it4 ,sec4 #aae4 ,ext5sion ( new m>kets tax cr$it4 ,sec4 #aaf4 ,ext5sion ( railroad track ma9t5ance cr$it4 ,sec4 #aag4 ,ext5sion ( m9e rescue team tra9+ cr$it4 ,sec4 #aah4 ,ext5sion ( employ] wage cr$it = employees :o are active duty memb]s ( ! uni=m$ s]vices4 ,sec4 #aai4 ,ext5sion ( "w opportunity tax cr$it4 ,sec4 #abj4 ,ext5sion ( qualifi$ zone academy bonds4 ,sec4 #aba4 ,ext5sion ( classification ( c]ta9 race horses z #c-ye> prop]ty4 ,sec4 #abb4 ,ext5sion ( #ae-ye> /raight-l9e co/ recov]y = qualifi$ leasehold improvem5ts1 qualifi$ re/aurant build+s & improvem5ts1 & qualifi$ retail improvem5ts4 ,sec4 #abc4 ,ext5sion ( #g-ye> recov]y p]iod = motorsports ent]ta9m5t complexes4 ,sec4 #abd4 ,ext5sion ( accel]at$ depreciation = bus9ess prop]ty on an ,indian res]vation4 ,sec4 #abe4 ,ext5sion ( bonus depreciation4 ,sec4 #abf4 ,ext5sion ( enhanc$ *>itable d$uction = contributions ( food inv5tory4 ,sec4 #abg4 ,ext5sion ( increas$ exp5s+ limitations & treatm5t ( c]ta9 real prop]ty z section #agi prop]ty4 ,sec4 #abh4 ,ext5sion ( election to exp5se m9e safety equipm5t4 ,sec4 #abi4 ,ext5sion ( special exp5s+ rules = c]ta9 film & television productions4 ,sec4 #acj4 ,ext5sion ( d$uction all[able ) respect to income attributable to dome/ic production activities 9 ,pu]to ,rico4 ,sec4 #aca4 ,ext5sion ( modification ( tax treatm5t ( c]ta9 paym5ts to controll+ exempt organizations4 ,sec4 #acb4 ,ext5sion ( treatm5t ( c]ta9 divid5ds ( regulat$ inve/m5t companies4 ,sec4 #acc4 ,ext5sion ( ,,ric qualifi$ inve/m5t entity treatm5t "u ,,firpta4 ,sec4 #acd4 ,ext5sion ( subp>t ,f exception = active f9anc+ income4 ,sec4 #ace4 ,ext5sion ( look-?ru treatm5t ( paym5ts betwe5 relat$ controll$ =eign corporations "u =eign p]sonal hold+ company rules4 ,sec4 #acf4 ,ext5sion ( tempor>y exclusion ( #ajj p]c5t ( ga9 on c]ta9 small bus9ess /ock4 ,sec4 #acg4 ,ext5sion ( basis adju/m5t to /ock ( ,s corporations mak+ *>itable contributions ( prop]ty4 ,sec4 #ach4 ,ext5sion ( r$uction 9 ,s-corporation recognition p]iod = built-9 ga9s tax4 ,sec4 #aci4 ,ext5sion ( emp[]m5t zone tax inc5tives4 ,sec4 #adj4 ,ext5sion ( tempor>y increase 9 limit on cov] ov] ( rum excise taxes to ,pu]to ,rico & ! ,virg9 ,isl&s4 ,sec4 #ada4 ,ext5sion ( ,am]ican ,samoa economic developm5t cr$it4 ,subtitle ,c--,en]gy tax ext5d]s ,sec4 #aea4 ,ext5sion ( cr$it = nonbus9ess en]gy prop]ty4 ,sec4 #aeb4 ,ext5sion ( second g5]ation bi(uel produc] cr$it4 ,sec4 #aec4 ,ext5sion ( inc5tives = biodiesel & r5ewable diesel4 ,sec4 #aed4 ,ext5sion ( production cr$it = ,indian coal facilities plac$ 9 s]vice be=e #bjji4 ,sec4 #aee4 ,ext5sion ( cr$its ) respect to facilities produc+ en]gy f c]ta9 r5ewable res\rces4 ,sec4 #aef4 ,ext5sion ( cr$it = en]gy-effici5t new homes4 ,sec4 #aeg4 ,ext5sion ( special all[ance = second g5]ation bi(uel plant prop]ty4 ,sec4 #aeh4 ,ext5sion ( en]gy effici5t comm]cial build+s d$uction4 ,sec4 #aei4 ,ext5sion ( special rule = sales or dispositions to implem5t ,,f]c or ,/ate electric re/ructur+ policy = qualifi$ electric utilities4 ,sec4 #afj4 ,ext5sion ( excise tax cr$its relat+ to c]ta9 fuels4 ,sec4 #afa4 ,ext5sion ( cr$it = alt]native fuel vehicle refuel+ prop]ty4 ,subtitle ,d--,ext5d]s relat+ to multiemploy] def9$ b5efit p5sion plans ,sec4 #aga4 ,ext5sion ( automatic ext5sion ( amortization p]iods4 ,sec4 #agb4 ,ext5sion ( %ortfall fund+ me?od & endang]$ & critical rules4 ,title ,,ii--,te*nical ,corrections ,sec4 #bja4 ,%ort title4 ,sec4 #bjb4 ,am5dm5ts relat+ to ,am]ican ,taxpay] ,relief ,act ( #bjab4 ,sec4 #bjc4 ,am5dm5t relat+ to ,middle ,class ,tax ,relief & ,job ,creation ,act ( #bjab4 ,sec4 #bjd4 ,am5dm5t relat+ to ,,faa ,mod]nization & ,re=m ,act ( #bjab4 ,sec4 #bje4 ,am5dm5ts relat+ to ,regulat$ ,inve/m5t ,company ,mod]nization ,act ( #bjaj4 ,sec4 #bjf4 ,am5dm5ts relat+ to ,tax ,relief1 ,unemploym5t ,insurance ,reau?orization1 & ,job ,creation ,act ( #bjaj4 ,sec4 #bjg4 ,am5dm5ts relat+ to ,creat+ ,small ,bus9ess ,jobs ,act ( #bjaj4 ,sec4 #bjh4 ,cl]ical am5dm5t relat+ to ,hir+ ,inc5tives to ,re/ore ,employm5t ,act4 ,sec4 #bji4 ,am5dm5ts relat+ to ,am]ican ,recov]y & ,re9ve/m5t ,tax ,act ( #bjji4 ,sec4 #baj4 ,am5dm5ts relat+ to ,en]gy ,improvem5t & ,ext5sion ,act ( #bjjh4 ,sec4 #baa4 ,am5dm5ts relat+ to ,tax ,ext5d]s & ,alt]native ,m9imum ,tax ,relief ,act ( #bjjh4 ,sec4 #bab4 ,cl]ical am5dm5ts relat+ to ,h\s+ ,assi/ance ,tax ,act ( #bjjh4 ,sec4 #bac4 ,am5dm5ts & provision relat+ to ,h]oes ,e>n+s ,assi/ance & ,relief ,tax ,act ( #bjjh4 ,sec4 #bad4 ,am5dm5ts relat+ to ,economic ,/imulus ,act ( #bjjh4 ,sec4 #bae4 ,am5dm5ts relat+ to ,tax ,te*nical ,corrections ,act ( #bjjg4 ,sec4 #baf4 ,am5dm5t relat+ to ,tax ,relief & ,heal? ,c>e ,act ( #bjjf4 ,sec4 #bag4 ,am5dm5t relat+ to ,safe1 ,acc\ntable1 ,flexible1 ,effici5t ,transportation ,equity ,act ( #bjje3 ,a ,legacy = ,us]s4 ,sec4 #bah4 ,am5dm5ts relat+ to ,en]gy ,tax ,inc5tives ,act ( #bjje4 ,sec4 #bai4 ,am5dm5ts relat+ to ,am]ican ,jobs ,creation ,act ( #bjjd4 ,sec4 #bbj4 ,o!r cl]ical corrections4 ,sec4 #bba4 ,deadwood provisions4 ,title ,,iii--,jo9t ,committee on ,taxation ,sec4 #cja4 ,increas$ refund & cr$it ?re%old = ,jo9t ,committee on ,taxation review ( ,c corporation return4 ,title ,,iv--,budget>y effects ,sec4 #dja4 ,budget>y effects4 ,division ,b--,a*iev+ a ,bett] ,life ,exp]i5ce ,act ( #bjad ,sec4 #a4 ,%ort title2 etc4 ,title ,i--,qualifi$ ,able ,programs ,sec4 #aja4 ,purposes4 ,sec4 #ajb4 ,qualifi$ ,,able programs4 ,sec4 #ajc4 ,treatm5t ( ,,able acc\nts "u c]ta9 ,f$]al programs4 ,sec4 #ajd4 ,treatm5t ( able acc\nts 9 bankruptcy4 ,sec4 #aje4 ,inve/m5t direction rule = #ebi plans4 ,title ,,ii--,(fsets ,sec4 #bja4 ,correction to work]s comp5sation (fset age4 ,sec4 #bjb4 ,accel]at$ application ( relative value t>gets = misvalu$ s]vices 9 ! ,m$ic>e physician fee s*$ule4 ,sec4 #bjc4 ,consi/5t treatm5t ( vacuum erection sy/ems 9 ,m$ic>e ,p>ts ,b & ,d4 ,sec4 #bjd4 ,"o-ye> delay ( implem5tation ( oral-only policy "u ,m$ic>e ,,esrd prospective paym5t sy/em4 ,sec4 #bje4 ,modification relat+ to ,inl& ,wat]ways ,tru/ ,fund f9anc+ rate4 ,sec4 #bjf4 ,c]tifi$ pr(essional employ] organizations4 ,sec4 #bjg4 ,exclusion ( divid5ds f controll$ =eign corporations f ! def9ition ( p]sonal hold+ company income = purposes ( ! p]sonal hold+ company rules4 ,sec4 #bjh4 ,inflation adju/m5t = c]ta9 civil p5alties "u ! ,int]nal ,rev5ue ,code ( #aihf4 ,sec4 #bji4 ,increase 9 cont9u\s levy4 ,i ,c]ta9 expir+ provisions ,a ,individual tax ext5d]s #aja4 ,ext5sion ( d$uction = c]ta9 exp5ses ( elem5t>y & second>y s*ool tea*]s 7a7 ,9 g5]al ,subp>agraph 7,d7 ( section #fb7;a77#b7 is am5d$ by /rik+ or #bjac & ins]t+ #bjac1 or #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajb4 ,ext5sion ( exclusion f gross income ( dis*>ge ( qualifi$ pr9cipal resid5ce indebt$ness 7a7 ,9 g5]al ,subp>agraph 7,e7 ( section #ajh7;a77#a7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to indebt$ness dis*>g$ aft] ,decemb] #ca1 #bjac4 #ajc4 ,ext5sion ( p>ity = employ]-provid$ mass transit & p>k+ b5efits 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #acb7;f7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to mon?s aft] ,decemb] #ca1 #bjac4 #ajd4 ,ext5sion ( mortgage insurance premiums treat$ z qualifi$ resid5ce int]e/ 7a7 ,9 g5]al ,subclause 7,i7 ( section #afc7;h77#c77;,e77iv7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to am\nts paid or accru$ aft] ,decemb] #ca1 #bjac4 #aje4 ,ext5sion ( d$uction ( ,/ate & local g5]al sales taxes 7a7 ,9 g5]al ,subp>agraph 7,i7 ( section #afd7;b77#e7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajf4 ,ext5sion ( special rule = contributions ( capital ga9 real prop]ty made = cons]vation purposes 7a7 ,9 g5]al ,clause 7vi7 ( section #agj7;b77#a77;,e7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,contributions by c]ta9 corporate f>m]s & ran*]s ,clause 7iii7 ( section #agj7;b77#b77;,b7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to contributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajg4 ,ext5sion ( above-!-l9e d$uction = qualifi$ tuition & relat$ exp5ses 7a7 ,9 g5]al ,subsection 7e7 ( section #bbb is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajh4 ,ext5sion ( tax-free di/ributions f individual retirem5t plans = *>itable purposes 7a7 ,9 g5]al ,subp>agraph 7,f7 ( section #djh7;d77#h7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to di/ributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 ,b ,bus9ess tax ext5d]s #aaa4 ,ext5sion ( rese>* cr$it 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #da7;h7 is am5d$ by /rik+ paid or incurr$ & all t foll[s & ins]t+ paid or incurr$ aft] ,decemb] #ca1 #bjad44 7b7 ,con=m+ am5dm5t ,subp>agraph 7,d7 ( section #de;,c7b77#a7 is am5d$ to read z foll[s3 7,d7 ,special rule ,if section #da is n 9 effect = any p]iod1 su* section %all be deem$ to rema9 9 effect = su* p]iod = purposes ( ?is p>agraph4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to am\nts paid or incurr$ aft] ,decemb] #ca1 #bjac4 #aab4 ,ext5sion ( tempor>y m9imum l[-income h\s+ tax cr$it rate = non-f$]ally subsidiz$ build+s 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #db7;b77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect on ,janu>y #a1 #bjad4 #aac4 ,ext5sion ( milit>y h\s+ all[ance exclusion = det]m9+ :e!r a t5ant 9 c]ta9 c\nties is l[-income 7a7 ,9 g5]al ,subsection 7b7 ( section #cjje ( ! ,h\s+ ,assi/ance ,tax ,act ( #bjjh is am5d$ by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 ! enactm5t ( section #cjje ( ! ,h\s+ ,assi/ance ,tax ,act ( #bjjh4 #aad4 ,ext5sion ( ,indian employm5t tax cr$it 7a7 ,9 g5]al ,subsection 7f7 ( section #de;,a is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aae4 ,ext5sion ( new m>kets tax cr$it 7a7 ,9 g5]al ,subp>agraph 7,g7 ( section #de;,d7f77#a7 is am5d$ by /rik+ & #bjac & ins]t+ #bjac1 & #bjad4 7b7 ,c>ryov] ( unus$ limitation ,p>agraph 7#c7 ( section #de;,d7f7 is am5d$ by /rik+ #bjah & ins]t+ #bjai4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aaf4 ,ext5sion ( railroad track ma9t5ance cr$it 7a7 ,9 g5]al ,subsection 7f7 ( section #de;,g is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to exp5ditures paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aag4 ,ext5sion ( m9e rescue team tra9+ cr$it 7a7 ,9 g5]al ,subsection 7e7 ( section #de,n is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aah4 ,ext5sion ( employ] wage cr$it = employees :o are active duty memb]s ( ! uni=m$ s]vices 7a7 ,9 g5]al ,subsection 7f7 ( section #de,p is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to paym5ts made aft] ,decemb] #ca1 #bjac4 #aai4 ,ext5sion ( "w opportunity tax cr$it 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #ea7;c7 is am5d$ by /rik+ = ! employ] & all t foll[s & ins]t+ = ! employ] aft] ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to individuals :o beg9 "w = ! employ] aft] ,decemb] #ca1 #bjac4 #abj4 ,ext5sion ( qualifi$ zone academy bonds 7a7 ,ext5sion ,p>agraph 7#a7 ( section #ed;,e7c7 is am5d$ by /rik+ & #bjac & ins]t+ #bjac1 & #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to obligations issu$ aft] ,decemb] #ca1 #bjac4 #aba4 ,ext5sion ( classification ( c]ta9 race horses z #c-ye> prop]ty 7a7 ,9 g5]al ,clause 7i7 ( section #afh7;e77#c77;,a7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad 9 subclause 7,i7 & ins]t+ ,janu>y #a1 #bjae1 & 7#b7 by /rik+ ,decemb] #ca1 #bjac 9 subclause 7,,ii7 & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abb4 ,ext5sion ( #ae-ye> /raight-l9e co/ recov]y = qualifi$ leasehold improvem5ts1 qualifi$ re/aurant build+s & improvem5ts1 & qualifi$ retail improvem5ts 7a7 ,9 g5]al ,clauses 7iv71 7v71 & 7ix7 ( section #afh7;e77#c77;,e7 are ea* am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abc4 ,ext5sion ( #g-ye> recov]y p]iod = motorsports ent]ta9m5t complexes 7a7 ,9 g5]al ,subp>agraph 7,d7 ( section #afh7;i77#ae7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abd4 ,ext5sion ( accel]at$ depreciation = bus9ess prop]ty on an ,indian res]vation 7a7 ,9 g5]al ,p>agraph 7#h7 ( section #afh7;j7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abe4 ,ext5sion ( bonus depreciation 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #afh7k7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjae 9 subp>agraph 7,a77iv7 & ins]t+ ,janu>y #a1 #bjaf1 & 7#b7 by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjae4 7b7 ,special rule = ,f$]al long-,t]m contracts ,clause 7ii7 ( section #dfj7;c77#f77;,b7 is am5d$ by /rik+ ,janu>y #a1 #bjad 7,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjae 7,janu>y #a1 #bjaf4 7c7 ,ext5sion ( election to accel]ate ! ,,amt cr$it 9 lieu ( bonus depreciation 7#a7 ,9 g5]al ,subclause 7,,ii7 ( section #afh7k77#d77;,d77iii7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7#b7 ,r\nd #d ext5sion prop]ty ,p>agraph 7#d7 ( section #afh7k7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,k7 ,special rules = r\nd #d ext5sion prop]ty 7i7 ,9 g5]al ,9 ! case ( r\nd #d ext5sion prop]ty1 9 apply+ ?is p>agraph to any taxpay]-- 7,i7 ! limitation describ$ 9 subp>agraph 7,b77i7 & ! bus9ess cr$it increase am\nt "u subp>agraph 7,e77iii7 !re( %all n apply1 & 7,,ii7 ! bonus depreciation am\nt1 maximum am\nt1 & maximum increase am\nt %all be comput$ sep>ately f am\nts comput$ ) respect to eligible qualifi$ prop]ty :i* is n r\nd #d ext5sion prop]ty4 7ii7 ,election 7,i7 ,a taxpay] :o has an election 9 effect "u ?is p>agraph = r\nd #c ext5sion prop]ty %all be treat$ z hav+ an election 9 effect = r\nd #d ext5sion prop]ty unless ! taxpay] elects to n h ?is p>agraph apply to r\nd #d ext5sion prop]ty4 7,,ii7 ,a taxpay] :o does n h an election 9 effect "u ?is p>agraph = r\nd #c ext5sion prop]ty may elect to h ?is p>agraph apply to r\nd #d ext5sion prop]ty4 7iii7 ,r\nd #d ext5sion prop]ty ,= purposes ( ?is subp>agraph1 ! t]m r\nd #d ext5sion prop]ty means prop]ty :i* is eligible qualifi$ prop]ty solely by reason ( ! ext5sion ( ! application ( ! special all[ance "u p>agraph 7#a7 pursuant to ! am5dm5ts made by section #abe7;a7 ( ! ,tax ,increase ,prev5tion ,act ( #bjad 7& ! application ( su* ext5sion to ?is p>agraph pursuant to ! am5dm5t made by section #abe7;c7 ( su* ,act74 4 7d7 ,con=m+ am5dm5ts 7#a7 ,! head+ = subsection 7k7 ( section #afh is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7#b7 ,! head+ = clause 7ii7 ( section #afh7k77#b77;,b7 is am5d$ by /rik+ pre-,janu>y #a1 #bjad & ins]t+ pre-,janu>y #a1 #bjae4 7#c7 ,subp>agraph 7,c7 ( section #afh7n77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7#d7 ,subp>agraph 7,d7 ( section #adjj,l7b77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7#e7 ,subp>agraph 7,b7 ( section #adjj,n7d77#c7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac1 9 taxable ye>s end+ aft] su* date4 #abf4 ,ext5sion ( enhanc$ *>itable d$uction = contributions ( food inv5tory 7a7 ,9 g5]al ,clause 7iv7 ( section #agj7;e77#c77;,c7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to contributions made aft] ,decemb] #ca1 #bjac4 #abg4 ,ext5sion ( increas$ exp5s+ limitations & treatm5t ( c]ta9 real prop]ty z section #agi prop]ty 7a7 ,9 g5]al 7#a7 ,doll> limitation ,section #agi7;b77#a7 is am5d$-- 7,a7 by /rik+ beg9n+ 9 #bjaj1 #bjaa1 #bjab1 or #bjac 9 subp>agraph 7,b7 & ins]t+ beg9n+ aft] #bjji & be=e #bjae1 & 7,b7 by /rik+ #bjac 9 subp>agraph 7,c7 & ins]t+ #bjad4 7#b7 ,r$uction 9 limitation ,section #agi7;b77#b7 is am5d$-- 7,a7 by /rik+ beg9n+ 9 #bjaj1 #bjaa1 #bjab1 or #bjac 9 subp>agraph 7,b7 & ins]t+ beg9n+ aft] #bjji & be=e #bjae1 & 7,b7 by /rik+ #bjac 9 subp>agraph 7,c7 & ins]t+ #bjad4 7b7 ,comput] s(tw>e ,section #agi7;d77#a77;,a77ii7 is am5d$ by /rik+ #bjad & ins]t+ #bjae4 7c7 ,election ,section #agi7;c77#b7 is am5d$ by /rik+ #bjad & ins]t+ #bjae4 7d7 ,special rules = treatm5t ( qualifi$ real prop]ty 7#a7 ,9 g5]al ,section #agi7;f77#a7 is am5d$ by /rik+ beg9n+ 9 #bjaj1 #bjaa1 #bjab1 or #bjac & ins]t+ beg9n+ aft] #bjji & be=e #bjae4 7#b7 ,c>ryov] limitation 7,a7 ,9 g5]al ,section #agi7;f77#d7 is am5d$ by /rik+ #bjac ea* place x appe>s & ins]t+ #bjad4 7,b7 ,con=m+ am5dm5t ,! head+ ( subp>agraph 7,c7 ( section #agi7;f77#d7 is am5d$ by /rik+ #bjaa & #bjab & ins]t+ #bjaa1 #bjab1 & #bjac4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #abh4 ,ext5sion ( election to exp5se m9e safety equipm5t 7a7 ,9 g5]al ,subsection 7g7 ( section #agi;,e is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abi4 ,ext5sion ( special exp5s+ rules = c]ta9 film & television productions 7a7 ,9 g5]al ,subsection 7f7 ( section #aha is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective dates ,! am5dm5t made by ?is section %all apply to productions comm5c+ aft] ,decemb] #ca1 #bjac4 #acj4 ,ext5sion ( d$uction all[able ) respect to income attributable to dome/ic production activities 9 ,pu]to ,rico 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #aii7;d77#h7 is am5d$-- 7#a7 by /rik+ fir/ #h taxable ye>s & ins]t+ fir/ #i taxable ye>s1 & 7#b7 by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aca4 ,ext5sion ( modification ( tax treatm5t ( c]ta9 paym5ts to controll+ exempt organizations 7a7 ,9 g5]al ,clause 7iv7 ( section #eab7;b77#ac77;,e7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to paym5ts receiv$ or accru$ aft] ,decemb] #ca1 #bjac4 #acb4 ,ext5sion ( treatm5t ( c]ta9 divid5ds ( regulat$ inve/m5t companies 7a7 ,9 g5]al ,p>agraphs 7#a77;,c77v7 & 7#b77;,c77v7 ( section #hga7k7 are ea* am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #acc4 ,ext5sion ( ,,ric qualifi$ inve/m5t entity treatm5t "u ,,firpta 7a7 ,9 g5]al ,clause 7ii7 ( section #hig7;h77#d77;,a7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date 7#a7 ,9 g5]al ,! am5dm5t made by ?is section %all take effect on ,janu>y #a1 #bjad4 ,not)/&+ ! prec$+ s5t5ce1 su* am5dm5t %all n apply ) respect to ! )hold+ requirem5t "u section #adde ( ! ,int]nal ,rev5ue ,code ( #aihf = any paym5t made be=e ! date ( ! enactm5t ( ?is ,act4 7#b7 ,am\nts )held on or be=e date ( enactm5t ,9 ! case ( a regulat$ inve/m5t company-- 7,a7 :i* makes a di/ribution aft] ,decemb] #ca1 #bjac1 & be=e ! date ( ! enactm5t ( ?is ,act1 & 7,b7 :i* w\ld 7b = ! second s5t5ce ( p>agraph 7#a77 h be5 requir$ to )hold ) respect to su* di/ribution "u section #adde ( su* ,code1 su* inve/m5t company %all n be liable to any p]son to :om su* di/ribution 0 made = any am\nt s )held & paid ov] to ! ,secret>y ( ! ,treasury4 #acd4 ,ext5sion ( subp>t ,f exception = active f9anc+ income 7a7 ,exempt insurance income ,p>agraph 7#aj7 ( section #iec7;e7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae1 & 7#b7 by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,special rule = income d]iv$ 9 ! active conduct ( bank+1 f9anc+1 or simil> bus9esses ,p>agraph 7#i7 ( section #ied7;h7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s ( =eign corporations beg9n+ aft] ,decemb] #ca1 #bjac1 & to taxable ye>s ( ,unit$ ,/ates %>ehold]s ) or )9 :i* any su* taxable ye> ( su* =eign corporation ends4 #ace4 ,ext5sion ( look-?ru treatm5t ( paym5ts betwe5 relat$ controll$ =eign corporations "u =eign p]sonal hold+ company rules 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #ied7;c77#f7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s ( =eign corporations beg9n+ aft] ,decemb] #ca1 #bjac1 & to taxable ye>s ( ,unit$ ,/ates %>ehold]s ) or )9 :i* su* taxable ye>s ( =eign corporations end4 #acf4 ,ext5sion ( tempor>y exclusion ( #ajj p]c5t ( ga9 on c]ta9 small bus9ess /ock 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #abjb7;a7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae1 & 7#b7 by /rik+ & #bjac 9 ! head+ & ins]t+ #bjac1 & #bjad4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to /ock acquir$ aft] ,decemb] #ca1 #bjac4 #acg4 ,ext5sion ( basis adju/m5t to /ock ( ,s corporations mak+ *>itable contributions ( prop]ty 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #acfg7;a7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to contributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ach4 ,ext5sion ( r$uction 9 ,s-corporation recognition p]iod = built-9 ga9s tax 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #acgd7;d77#g7 is am5d$-- 7#a7 by /rik+ #bjab or #bjac & ins]t+ #bjab1 #bjac1 or #bjad1 & 7#b7 by /rik+ #bjab & #bjac 9 ! head+ & ins]t+ #bjab1 #bjac1 & #bjad4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aci4 ,ext5sion ( emp[]m5t zone tax inc5tives 7a7 ,9 g5]al ,clause 7i7 ( section #acia7;d77#a77;,a7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,treatm5t ( c]ta9 t]m9ation dates specifi$ 9 nom9ations ,9 ! case ( a designation ( an emp[]m5t zone ! nom9ation = :i* includ$ a t]m9ation date :i* is contemporane\s ) ! date specifi$ 9 subp>agraph 7,a77i7 ( section #acia7;d77#a7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z 9 effect be=e ! enactm5t ( ?is ,act71 subp>agraph 7,b7 ( su* section %all n apply ) respect to su* designation if1 aft] ! date ( ! enactm5t ( ?is section1 ! entity :i* made su* nom9ation am5ds ! nom9ation to provide = a new t]m9ation date 9 su* mann] z ! ,secret>y ( ! ,treasury 7or ! ,secret>y's designee7 may provide4 7c7 ,effective dates ,! am5dm5t made by ?is section %all apply to p]iods aft] ,decemb] #ca1 #bjac4 #adj4 ,ext5sion ( tempor>y increase 9 limit on cov] ov] ( rum excise taxes to ,pu]to ,rico & ! ,virg9 ,isl&s 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #gfeb7;f7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to di/ill$ spirits br\ght into ! ,unit$ ,/ates aft] ,decemb] #ca1 #bjac4 #ada4 ,ext5sion ( ,am]ican ,samoa economic developm5t cr$it 7a7 ,9 g5]al ,subsection 7d7 ( section #aai ( division ,a ( ! ,tax ,relief & ,heal? ,c>e ,act ( #bjjf is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjae1 7#b7 by /rik+ fir/ #h taxable ye>s 9 p>agraph 7#a7 & ins]t+ fir/ #i taxable ye>s1 & 7#c7 by /rik+ fir/ #b taxable ye>s 9 p>agraph 7#b7 & ins]t+ fir/ #c taxable ye>s4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 ,c ,en]gy tax ext5d]s #aea4 ,ext5sion ( cr$it = nonbus9ess en]gy prop]ty 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #be;,c7g7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #aeb4 ,ext5sion ( second g5]ation bi(uel produc] cr$it 7a7 ,9 g5]al ,clause 7i7 ( section #dj7;b77#f77;,j7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to qualifi$ second g5]ation bi(uel production aft] ,decemb] #ca1 #bjac4 #aec4 ,ext5sion ( inc5tives = biodiesel & r5ewable diesel 7a7 ,cr$its = biodiesel & r5ewable diesel us$ z fuel ,subsection 7g7 ( section #dj;,a is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjac4 #aed4 ,ext5sion ( production cr$it = ,indian coal facilities plac$ 9 s]vice be=e #bjji 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #de7;e77#aj7 is am5d$ by /rik+ #h-ye> p]iod ea* place x appe>s & ins]t+ #i-ye> p]iod4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to coal produc$ aft] ,decemb] #ca1 #bjac4 #aee4 ,ext5sion ( cr$its ) respect to facilities produc+ en]gy f c]ta9 r5ewable res\rces 7a7 ,9 g5]al ,! foll[+ provisions ( section #de7;d7 are ea* am5d$ by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjae3 7#a7 ,p>agraph 7#a74 7#b7 ,p>agraph 7#b77;,a74 7#c7 ,p>agraph 7#c77;,a74 7#d7 ,p>agraph 7#d77;,b74 7#e7 ,p>agraph 7#f74 7#f7 ,p>agraph 7#g74 7#g7 ,p>agraph 7#i74 7#h7 ,p>agraph 7#aa77;,b74 7b7 ,ext5sion ( election to treat qualifi$ facilities z en]gy prop]ty ,clause 7ii7 ( section #dh7;a77#e77;,c7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7c7 ,effective dates ,! am5dm5ts made by ?is section %all take effect on ,janu>y #a1 #bjad4 #aef4 ,ext5sion ( cr$it = en]gy-effici5t new homes 7a7 ,9 g5]al ,subsection 7g7 ( section #de,l is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to homes acquir$ aft] ,decemb] #ca1 #bjac4 #aeg4 ,ext5sion ( special all[ance = second g5]ation bi(uel plant prop]ty 7a7 ,9 g5]al ,subp>agraph 7,d7 ( section #afh7l77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #aeh4 ,ext5sion ( en]gy effici5t comm]cial build+s d$uction 7a7 ,9 g5]al ,subsection 7h7 ( section #agi;,d is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #aei4 ,ext5sion ( special rule = sales or dispositions to implem5t ,,f]c or ,/ate electric re/ructur+ policy = qualifi$ electric utilities 7a7 ,9 g5]al ,p>agraph 7#c7 ( section #dea7;i7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to dispositions aft] ,decemb] #ca1 #bjac4 #afj4 ,ext5sion ( excise tax cr$its relat+ to c]ta9 fuels 7a7 ,excise tax cr$its & outlay paym5ts = biodiesel & r5ewable diesel fuel mixtures 7#a7 ,p>agraph 7#f7 ( section #fdbf7;c7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7#b7 ,subp>agraph 7,b7 ( section #fdbg7;e77#f7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7b7 ,ext5sion ( alt]native fuels excise tax cr$its 7#a7 ,9 g5]al ,sections #fdbf7;d77#e7 & #fdbf7;e77#c7 are ea* am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7#b7 ,outlay paym5ts = alt]native fuels ,subp>agraph 7,c7 ( section #fdbg7;e77#f7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjad4 7c7 ,ext5sion ( alt]native fuels excise tax cr$its relat+ to liquefi$ hydrog5 7#a7 ,9 g5]al ,sections #fdbf7;d77#e7 & #fdbf7;e77#c71 z am5d$ by subsection 7b71 are ea* am5d$ by /rik+ 7,septemb] #cj1 #bjad 9 ! case ( any sale or use involv+ liquefi$ hydrog574 7#b7 ,outlay paym5ts = alt]native fuels ,p>agraph 7#f7 ( section #fdbg7;e7 is am5d$-- 7,a7 by /rik+ except z provid$ 9 subp>agraph 7,d71 any 9 subp>agraph 7,c71 z am5d$ by ?is ,act1 & ins]t+ any1 7,b7 by /rik+ ! comma at ! end ( subp>agraph 7,c7 & ins]t+ 1 &1 & 7,c7 by /rik+ subp>agraph 7,d7 & r$esignat+ subp>agraph 7,e7 z subp>agraph 7,d74 7d7 ,effective dates 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! am5dm5ts made by ?is section %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjac4 7#b7 ,liquefi$ hydrog5 ,! am5dm5ts made by subsection 7c7 %all apply to fuel sold or us$ aft] ,septemb] #cj1 #bjad4 7e7 ,special rule = c]ta9 p]iods dur+ #bjad ,not)/&+ any o!r provision ( law1 9 ! case (-- 7#a7 any biodiesel mixture cr$it prop]ly det]m9$ "u section #fdbf7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf = p]iods aft] ,decemb] #ca1 #bjac1 & be=e ! date ( ! enactm5t ( ?is ,act1 & 7#b7 any alt]native fuel cr$it prop]ly det]m9$ "u section #fdbf7;d7 ( su* ,code = su* p]iods1 su* cr$it %all be all[$1 & any refund or paym5t attributable to su* cr$it 7includ+ any paym5t "u section #fdbg7;e7 ( su* ,code7 %all be made1 only 9 su* mann] z ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all provide4 ,su* ,secret>y %all issue guidance )9 #cj days aft] ! date ( ! enactm5t ( ?is ,act provid+ = a "o-"t submission ( claims cov]+ p]iods describ$ 9 ! prec$+ s5t5ce4 ,su* guidance %all provide = a #ahj-;day p]iod = ! submission ( su* claims 79 su* mann] z prescrib$ by su* ,secret>y7 to beg9 n lat] ?an #cj days aft] su* guidance is issu$4 ,su* claims %all be paid by su* ,secret>y n lat] ?an #fj days aft] receipt4 ,if su* ,secret>y has n paid pursuant to a claim fil$ "u ?is subsection )9 #fj days aft] ! date ( ! fil+ ( su* claim1 ! claim %all be paid ) int]e/ f su* date det]m9$ by us+ ! ov]paym5t rate & me?od "u section #ffba ( su* ,code4 #afa4 ,ext5sion ( cr$it = alt]native fuel vehicle refuel+ prop]ty 7a7 ,9 g5]al ,subsection 7g7 ( section #cj;,c is am5d$ by /rik+ plac$ 9 s]vice & all t foll[s & ins]t+ plac$ 9 s]vice aft] ,decemb] #ca1 #bjad44 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 ,d ,ext5d]s relat+ to multiemploy] def9$ b5efit p5sion plans #aga4 ,ext5sion ( automatic ext5sion ( amortization p]iods 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #dca7;d77#a7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,am5dm5t to ,employee ,retirem5t ,income ,security ,act ( #aigd ,subp>agraph 7,c7 ( section #cjd7;d77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhd7;d77#a77;,c77 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjae4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to applications submitt$ "u section #dca7;d77#a77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf & section #cjd7;d77#a77;,c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd aft] ,decemb] #ca1 #bjad4 #agb4 ,ext5sion ( %ortfall fund+ me?od & endang]$ & critical rules 7a7 ,9 g5]al ,p>agraphs 7#a7 & 7#b7 ( section #bba7;c7 ( ! ,p5sion ,protection ,act ( #bjjf are ea* am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,con=m+ am5dm5t ,p>agraph 7#b7 ( section #bba7;c7 ( ! ,p5sion ,protection ,act ( #bjjf is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjaf4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 ,,ii ,te*nical ,corrections #bja4 ,%ort title ,?is title may be cit$ z ! ,tax ,te*nical ,corrections ,act ( #bjad4 #bjb4 ,am5dm5ts relat+ to ,am]ican ,taxpay] ,relief ,act ( #bjab 7a7 ,am5dm5t relat+ to section #aja7;b7 ,subclause 7,i7 ( section #fdb7;b77#b77;,c77i7 is am5d$ by /rik+ section #aea7;d77#c77;,c77iii7 & ins]t+ section #fh7;b77#a77;,c74 7b7 ,am5dm5t relat+ to section #ajb ,clause 7ii7 ( section #iaa7;f77#b77;,b7 is am5d$ by /rik+ describ$ 9 section #a7;h77#a77;,b7 %all be treat$ z a ref]5ce to su* excess z det]m9$ & ins]t+ describ$ 9 section #a7;h77#a77;,b71 & ! ref]5ce 9 section #ee7;b77#c77;,c77ii7 to ! excess describ$ 9 section #a7;h77#a77;,c77ii71 %all ea* be treat$ z a ref]5ce to ea* su* excess z det]m9$4 7c7 ,am5dm5ts relat+ to section #ajd 7#a7 ,clause 7ii7 ( section #ee7;d77#d77;,b7 is am5d$ by ins]t+ subp>agraphs 7,a71 7,b71 & 7,d7 ( be=e p>agraph 7#a74 7#b7 ,subp>agraph 7,c7 ( section #ee7;d77#d7 is am5d$ by /rik+ increase & ins]t+ increas$ am\nt4 7d7 ,am5dm5ts relat+ to section #caj ,clause 7iii7 ( section #fdca7;f77#c77;,a7 is am5d$-- 7#a7 by /rik+ #bjaa & ins]t+ ye>s aft] #bjaj1 & 7#b7 by /rik+ ( su* allocation & ins]t+ ( any su* allocation4 7e7 ,am5dm5t relat+ to section #cca ,clause 7iii7 ( section #afh7k77#d77;,j7 is am5d$ by /rik+ any taxable ye> & ins]t+ its fir/ taxable ye>4 7f7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,am]ican ,taxpay] ,relief ,act ( #bjab to :i* !y relate4 #bjc4 ,am5dm5t relat+ to ,middle ,class ,tax ,relief & ,job ,creation ,act ( #bjab 7a7 ,am5dm5t relat+ to section #gjja ,p>agraph 7#a7 ( section #gjja ( ! ,middle ,class ,tax ,relief & ,job ,creation ,act ( #bjab is am5d$ by /rik+ #bja7;b7 & ins]t+ #bjb7;b74 7b7 ,effective date ,! am5dm5t made by subsection 7a7 %all take effect z if includ$ 9 section #gjja ( ! ,middle ,class ,tax ,relief & ,job ,creation ,act ( #bjab4 #bjd4 ,am5dm5t relat+ to ,,faa ,mod]nization & ,re=m ,act ( #bjab 7a7 ,am5dm5t relat+ to section #aajg ,section #dbha is am5d$ to read z foll[s3 #dbha4 ,small aircraft on none/abli%$ l9es 7a7 ,9 g5]al ,! taxes impos$ by sections #dbfa & #dbga %all n apply to transportation by an aircraft hav+ a maximum c]tificat$ take(f weight ( #f1jjj p\nds or less1 except :5 su* aircraft is op]at$ on an e/abli%$ l9e or :5 su* aircraft is a jet aircraft4 7b7 ,maximum c]tificat$ take(f weight ,= purposes ( ?is section1 ! t]m maximum c]tificat$ take(f weight means ! maximum su* weight conta9$ 9 ! type c]tificate or airwor?9ess c]tificate4 7c7 ,sightsee+ ,= purposes ( ?is section1 an aircraft %all n be consid]$ z op]at$ on an e/abli%$ l9e at any "t dur+ :i* su* aircraft is be+ op]at$ on a flight ! sole purpose ( :i* is sightsee+4 7d7 ,jet aircraft ,= purposes ( ?is section1 ! t]m jet aircraft %all n include any aircraft :i* is a rotorcraft or propell] aircraft4 4 7b7 ,effective date ,! am5dm5t made by subsection 7a7 %all take effect z if includ$ 9 section #aajg ( ! ,,faa ,mod]nization & ,re=m ,act ( #bjab4 #bje4 ,am5dm5ts relat+ to ,regulat$ ,inve/m5t ,company ,mod]nization ,act ( #bjaj 7a7 ,am5dm5ts relat+ to section #aja 7#a7 ,subsection 7c7 ( section #aja ( ! ,regulat$ ,inve/m5t ,company ,mod]nization ,act ( #bjaj is am5d$-- 7,a7 by /rik+ p>agraph 7#b7 9 p>agraph 7#a7 & ins]t+ p>agraphs 7#b7 & 7#c71 & 7,b7 by add+ at ! end ! foll[+ new p>agraph3 7#c7 ,excise tax 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b71 = purposes ( section #dihb ( ! ,int]nal ,rev5ue ,code ( #aihf1 p>agraphs 7#a7 & 7#b7 %all apply by sub/itut+ ! #a-ye> p]iods tak5 into acc\nt "u subsection 7b77#a77;,b7 ( su* section ) respect to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjaj = taxable ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 7,b7 ,election ,a regulat$ inve/m5t company may elect to apply subp>agraph 7,a7 by sub/itut+ #bjaa = #bjaj4 ,su* election %all be made at su* "t & 9 su* =m & mann] z ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all prescribe4 4 7#b7 ,! fir/ s5t5ce ( p>agraph 7#b7 ( section #heb7;c7 is am5d$-- 7,a7 by /rik+ & )\t reg>d to & ins]t+ 1 )\t reg>d to1 & 7,b7 by ins]t+ 1 & )\t reg>d to any capital loss aris+ on ! fir/ day ( ! taxable ye> by reason ( clauses 7ii7 & 7iii7 ( section #abab7;a77#c77;,a7 be=e ! p]iod at ! end4 7b7 ,am5dm5t relat+ to section #cjd ,p>agraph 7#a7 ( section #hee7;a7 is am5d$ by ins]t+ on or be=e be=e4 7c7 ,am5dm5ts relat+ to section #cjh 7#a7 ,p>agraph 7#h7 ( section #heb7;b7 is am5d$ by r$esignat+ subp>agraph 7,e7 z subp>agraph 7,g7 & by /rik+ subp>agraphs 7,c7 & 7,d7 & ins]t+ ! foll[+ new subp>agraphs3 7,c7 ,po/-,octob] capital loss ,= purposes ( ?is p>agraph1 ! t]m po/-,octob] capital loss means-- 7i7 any net capital loss attributable to ! portion ( ! taxable ye> aft] ,octob] #ca1 or 7ii7 if !re is no su* loss-- 7,i7 any net long-t]m capital loss attributable to su* portion ( ! taxable ye>1 or 7,,ii7 any net %ort-t]m capital loss attributable to su* portion ( ! taxable ye>4 7,d7 ,late-ye> ord9>y loss ,= purposes ( ?is p>agraph1 ! t]m late-ye> ord9>y loss means ! sum ( any po/-,octob] specifi$ loss & any po/-,decemb] ord9>y loss4 7,e7 ,po/-,octob] specifi$ loss ,= purposes ( ?is p>agraph1 ! t]m po/-,octob] specifi$ loss means ! excess 7if any7 (-- 7i7 ! specifi$ losses 7z def9$ 9 section #dihb7;e77#e77;,b77ii77 attributable to ! portion ( ! taxable ye> aft] ,octob] #ca1 ov] 7ii7 ! specifi$ ga9s 7z def9$ 9 section #dihb7;e77#e77;,b77i77 attributable to su* portion ( ! taxable ye>4 7,f7 ,po/-,decemb] ord9>y loss ,= purposes ( ?is p>agraph1 ! t]m po/-,decemb] ord9>y loss means ! excess 7if any7 (-- 7i7 ! ord9>y losses n describ$ 9 subp>agraph 7,e77i7 & attributable to ! portion ( ! taxable ye> aft] ,decemb] #ca1 ov] 7ii7 ! ord9>y income n describ$ 9 subp>agraph 7,e77ii7 & attributable to su* portion ( ! taxable ye>4 4 7#b7 ,subp>agraph 7,g7 ( section #heb7;b77#h71 z s r$esignat$1 is am5d$ by /rik+ 1 7,d77i77,i71 & 7,d77ii77,i7 & ins]t+ & 7,e74 7#c7 ,! fir/ s5t5ce ( p>agraph 7#b7 ( section #heb7;c71 z am5d$ by subsection 7a71 is am5d$-- 7,a7 by /rik+ 1 & )\t reg>d to & ins]t+ 1 )\t reg>d to1 & 7,b7 by ins]t+ 1 & ) su* o!r adju/m5ts z ! ,secret>y may prescribe be=e ! p]iod at ! end4 7d7 ,am5dm5ts relat+ to section #djb 7#a7 ,subp>agraph 7,b7 ( section #dihb7;e77#f7 is am5d$ by ins]t+ be=e ! p]iod at ! end ! foll[+3 or :i* det]m9es income by ref]5ce to ! value ( an item on ! la/ day ( ! taxable ye>4 7#b7 ,subp>agraph 7,a7 ( section #dihb7;e77#g7 is am5d$ by /rik+ su* company & all t foll[s ?r\gh any net ord9>y loss & ins]t+ su* company may elect to det]m9e its ord9>y income & net ord9>y loss 7z def9$ 9 p>agraph 7#b77;,c77ii77 = ! cal5d> ye> )\t reg>d to any portion ( any net ord9>y loss4 7e7 ,cl]ical am5dm5t relat+ to section #bja ,subp>agraph 7,a7 ( section #hea7;d77#b7 is am5d$ by ins]t+ ( ?is p>agraph aft] subp>agraph 7,b77i74 7f7 ,effective date 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,regulat$ ,inve/m5t ,company ,mod]nization ,act ( #bjaj to :i* !y relate4 7#b7 ,sav+s provision ,9 ! case ( an election by a regulat$ inve/m5t company "u section #heb7;b77#h7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to any taxable ye> beg9n+ be=e ! date ( ! enactm5t ( ?is ,act1 su* company may treat ! am5dm5ts made by p>agraphs 7#a7 & 7#b7 ( subsection 7c7 z n apply+ ) respect to any su* election4 #bjf4 ,am5dm5ts relat+ to ,tax ,relief1 ,unemploym5t ,insurance ,reau?orization1 & ,job ,creation ,act ( #bjaj 7a7 ,am5dm5t relat+ to section #ajc ,clause 7ii7 ( section #cb7;b77#c77;,b7 is am5d$ by /rik+ 9 #bjaj & ins]t+ aft] #bjji4 7b7 ,cl]ical am5dm5ts relat+ to section #cjb 7#a7 ,p>agraph 7#a7 ( section #bhja7;a7 is am5d$ by /rik+ 7or1 if great]1 ! highe/ rate ( tax specifi$ 9 ! table applicable "u section #bejb7;a7 z 9 effect on ! date74 7#b7 ,subsection 7f7 ( section #cjb ( ! ,tax ,relief1 ,unemploym5t ,insurance ,reau?orization1 & ,job ,creation ,act ( #bjaj is am5d$ by /rik+ subsection & ins]t+ section4 7c7 ,am5dm5ts relat+ to section #gec ,subp>agraph 7,a7 ( section #acig;,b7b77#a7 is am5d$ by /rik+ & at ! end ( clause 7ii71 by /rik+ ! p]iod at ! end ( clause 7iii7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new clause3 7iv7 ! day aft] ! date set =? 9 section #acia7;d77#a77;,a77i7 7 sub/itut$ = ,janu>y #a1 #bjaj ea* place x appe>s4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,tax ,relief1 ,unemploym5t ,insurance ,reau?orization1 & ,job ,creation ,act ( #bjaj to :i* !y relate4 #bjg4 ,am5dm5ts relat+ to ,creat+ ,small ,bus9ess ,jobs ,act ( #bjaj 7a7 ,am5dm5ts relat+ to section #bajb 7#a7 ,subsection 7h7 ( section #bajb ( ! ,creat+ ,small ,bus9ess ,jobs ,act ( #bjaj is am5d$ by ins]t+ 1 & payee /atem5ts requir$ to be furni%$1 aft] in=mation returns requir$ to be fil$4 7#b7 ,p>agraphs 7#a7 & 7#b7 ( subsection 7b71 & subsection 7c77#a77;,c71 ( section #fgbb are ea* am5d$ by /rik+ ! requir$ fil+ date & ins]t+ ! date prescrib$ = furni%+ su* /atem5t4 7#c7 ,subp>agraph 7,b7 ( section #fgbb7;c77#b7 is am5d$ by /rik+ fil$ & ins]t+ furni%$4 7b7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,creat+ ,small ,bus9ess ,jobs ,act ( #bjaj to :i* !y relate4 #bjh4 ,cl]ical am5dm5t relat+ to ,hir+ ,inc5tives to ,re/ore ,employm5t ,act 7a7 ,am5dm5t relat+ to section #eab ,p>agraph 7#a7 ( section #eab7;a7 ( ! ,hir+ ,inc5tives to ,re/ore ,employm5t ,act is am5d$ by /rik+ aft] p>agraph 7#f7 & ins]t+ aft] p>agraph 7#e74 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,hir+ ,inc5tives to ,re/ore ,employm5t ,act to :i* x relates4 #bji4 ,am5dm5ts relat+ to ,am]ican ,recov]y & ,re9ve/m5t ,tax ,act ( #bjji 7a7 ,am5dm5t relat+ to section #ajjc ,p>agraph 7#d7 ( section #bd7;d7 is am5d$ to read z foll[s3 7#d7 ,special rule = c]ta9 ye>s ,9 ! case ( any taxable ye> beg9n+ aft] #bjjh & be=e #bjah1 p>agraph 7#a77;,b77i7 %all be appli$ by sub/itut+ #c1jjj = #aj1jjj4 4 7b7 ,am5dm5t relat+ to section #ajjd ,p>agraph 7#c7 ( section #be;,a7i7 is am5d$ by /rik+ ,subsection 7f77#a77;,a7 %all be appli$ & ins]t+ ,= purposes ( det]m9+ ! ,hope ,s*ol>%ip ,cr$it1 subsection 7f77#a77;,a7 %all be appli$4 7c7 ,am5dm5ts relat+ to section #ajjh 7#a7 ,p>agraph 7#f7 ( section #afd7;b7 is am5d$ by /rik+ subp>agraph 7,e7 & by r$esignat+ subp>agraphs 7,f7 & 7,g7 z subp>agraphs 7,e7 & 7,f71 respectively4 7#b7 ,subp>agraphs 7,e7 & 7,f7 ( section #afd7;b77#f71 z s r$esignat$1 are ea* am5d$ by /rik+ ,?is p>agraph & ins]t+ ,subsection 7a77#f74 7d7 ,am5dm5t relat+ to section #aajd ,subp>agraph 7,a7 ( section #dh7;d77#c7 is am5d$ by ins]t+ or alt]native m9imum taxable income aft] includible 9 ! gross income4 7e7 ,am5dm5ts relat+ to section #aada 7#a7 ,subsection 7f7 ( section #cj;,d is am5d$-- 7,a7 by ins]t+ 7det]m9$ )\t reg>d to subsection 7c77 be=e ! p]iod at ! end ( p>agraph 7#a71 & 7,b7 by ins]t+ 7det]m9$ )\t reg>d to subsection 7c77 be=e ! p]iod at ! end ( p>agraph 7#b74 7#b7 ,p>agraph 7#c7 ( section #cj;,d7f7 is am5d$ by add+ at ! end ! foll[+3 ,= purposes ( subsection 7c71 prop]ty to :i* ?is p>agraph applies %all be treat$ z ( a "* subject to an all[ance = depreciation44 7f7 ,am5dm5ts relat+ to section #aadb 7#a7 ,subsection 7b7 ( section #ch is am5d$ by /rik+ plus at ! end ( p>agraph 7#ce71 by r$esignat+ p>agraph 7#cf7 z p>agraph 7#cg71 & by ins]t+ aft] p>agraph 7#ce7 ! foll[+ new p>agraph3 7#cf7 ! portion ( ! qualifi$ plug-9 electric vehicle cr$it to :i* section #cj7;c77#a7 applies1 plus 4 7#b7 7,a7 ,subsection 7e7 ( section #cj is am5d$-- 7i7 by ins]t+ 7det]m9$ )\t reg>d to subsection 7c77 be=e ! p]iod at ! end ( p>agraph 7#a71 & 7ii7 by ins]t+ 7det]m9$ )\t reg>d to subsection 7c77 be=e ! p]iod at ! end ( p>agraph 7#b74 7,b7 ,p>agraph 7#c7 ( section #cj7;e7 is am5d$ by add+ at ! end ! foll[+3 ,= purposes ( subsection 7c71 prop]ty to :i* ?is p>agraph applies %all be treat$ z ( a "* subject to an all[ance = depreciation44 7g7 ,am5dm5t relat+ to section #acjb ,p>agraph 7#c7 ( section #dh;,c7b7 is am5d$ by ins]t+ z ! qualifi$ inve/m5t aft] ,! am\nt :i* is treat$4 7h7 ,am5dm5ts relat$ to section #aeda 7#a7 ,p>agraph 7#b7 ( section #hec;,a7a7 is am5d$ by ins]t+ 7det]m9$ aft] ! application ( ?is section7 be=e ! comma at ! end4 7#b7 ,subsection 7a7 ( section #hec;,a is am5d$-- 7,a7 by /rik+ ) respect to cr$its & ins]t+ ) respect to "s or all ( ! cr$its1 & 7,b7 by ins]t+ 7det]m9$ )\t reg>d to ?is section & sections #ed7;c71 #ed;,a7c77#a71 #ed;,,aa7c77#a71 & #acig;,e7c77 aft] cr$its all[able4 7#c7 ,subsection 7b7 ( section #hec;,a is am5d$ to read z foll[s3 7b7 ,effect ( election ,if ! election provid$ 9 subsection 7a7 is 9 effect ) respect to any cr$its = any taxable ye>-- 7#a7 ! regulat$ inve/m5t company-- 7,a7 %all n be all[$ su* cr$its1 7,b7 %all include 9 gross income 7z int]e/7 = su* taxable ye> ! am\nt :i* w\ld h be5 s includ$ ) respect to su* cr$its _h ! application ( ?is section n be5 elect$1 7,c7 %all include 9 e>n+s & pr(its ! am\nt s includ$ 9 gross income1 & 7,d7 %all be treat$ z mak+ "o or m di/ributions ( money ) respect to its /ock equal to ! am\nt ( su* cr$its on ! date or dates 7on or aft] ! applicable date = any su* cr$it7 dur+ su* taxable ye> 7or foll[+ ! close ( ! taxable ye> pursuant to section #hee7 select$ by ! company1 & 7#b7 ea* %>ehold] ( su* inve/m5t company %all-- 7,a7 be treat$ z receiv+ su* %>ehold]'s proportionate %>e ( any di/ribution ( money :i* is treat$ z made by su* inve/m5t company "u p>agraph 7#a77;,d71 & 7,b7 be all[$ cr$its aga9/ ! tax impos$ by ?is *apt] equal to ! am\nt ( su* di/ribution1 subject to ! provisions ( ?is title applicable to ! cr$it involv$4 4 7#d7 ,subsection 7c7 ( section #hec;,a is am5d$ to read z foll[s3 7c7 ,notice to %>ehold]s ,! am\nt treat$ z a di/ribution ( money receiv$ by a %>ehold] "u subsection 7b77#b77;,a7 7& z cr$its all[$ to su* %>ehold] "u subsection 7b77#b77;,b77 %all n exce$ ! am\nt s report$ by ! regulat$ inve/m5t company 9 a writt5 /atem5t furni%$ to su* %>ehold]4 4 7#e7 ,clause 7ii7 ( section #hec;,a7e77#a77;,a7 is am5d$ by ins]t+ o!r ?an a qualifi$ bond describ$ 9 section #ed;,,aa7g7 aft] z def9$ 9 section #ed;,,aa7d774 7i7 ,am5dm5ts relat+ to section #bbjb 7#a7 ,subp>agraph 7,a7 ( section #bbjb7;b77#a7 ( division ,b ( ! ,am]ican ,recov]y & ,re9ve/m5t ,act ( #bjji is am5d$ by ins]t+ political subdivision ( a ,/ate1 aft] any ,/ate14 7#b7 ,section #bbjb ( division ,b ( ! ,am]ican ,recov]y & ,re9ve/m5t ,act ( #bjji is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,treatm5t ( ,possessions 7#a7 ,paym5ts to mirror code possessions ,! ,secret>y ( ! ,treasury %all pay to ea* possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em am\nts equal to ! loss to t possession by reason ( cr$its all[$ "u subsection 7a7 ) respect to taxable ye>s beg9n+ 9 #bjji4 ,su* am\nts %all be det]m9$ by ! ,secret>y ( ! ,treasury bas$ on in=mation provid$ by ! gov]nm5t ( ! respective possession4 7#b7 ,coord9ation ) cr$it all[$ aga9/ unit$ /ates income taxes ,no cr$it %all be all[$ aga9/ ,unit$ ,/ates income taxes = any taxable ye> "u ?is section to any p]son to :om a cr$it is all[$ aga9/ taxes impos$ by ! possession by reason ( ! cr$it all[$ "u subsection 7a7 = su* taxable ye>4 7#c7 ,def9itions & special rules 7,a7 ,possession ( ! unit$ /ates ,= purposes ( ?is subsection1 ! t]m possession ( ! ,unit$ ,/ates includes ! ,commonweal? ( ! ,nor!rn ,m>iana ,isl&s4 7,b7 ,mirror code tax sy/em ,= purposes ( ?is subsection1 ! t]m mirror code tax sy/em means1 ) respect to any possession ( ! ,unit$ ,/ates1 ! income tax sy/em ( su* possession if ! income tax liability ( ! resid5ts ( su* possession "u su* sy/em is det]m9$ by ref]5ce to ! income tax laws ( ! ,unit$ ,/ates z if su* possession 7 ! ,unit$ ,/ates4 7,c7 ,treatm5t ( paym5ts ,= purposes ( section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 ! paym5ts "u ?is subsection %all be treat$ 9 ! same mann] z a refund due f ! cr$it all[$ "u section #cf;,a ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by ?is ,act74 4 7j7 ,cl]ical am5dm5ts 7#a7 ,am5dm5t relat+ to section #aaca ,p>agraph 7#b7 ( section #de,q7d7 is am5d$ by /rik+ ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy & all t foll[s ?r\gh %all e/abli% & ins]t+ ,adm9i/rator ( ! ,environm5tal ,protection ,ag5cy1 ! ,secret>y ( ,en]gy1 & ! ,secret>y ( ! ,int]ior1 %all e/abli%4 7#b7 ,am5dm5t relat+ to section #aada ,p>agraph 7#cg7 ( section #ajaf7;a7 is am5d$ by /rik+ section #cj;,d7e77#d7 & ins]t+ section #cj;,d7f77#a74 7#c7 ,am5dm5t relat+ to section #cjja ,subp>agraph 7,a7 ( section #cjja7;a77#ad7 ( ! ,am]ican ,recov]y & ,re9ve/m5t ,act ( #bjji is am5d$ by /rik+ is am5d$ by r$esignat+ p>agraph 7#i7 z p>agraph 7#aj7 & ins]t+ 1 z am5d$ by ?is ,act1 is am5d$ by r$esignat+ p>agraphs 7#i7 & 7#aj7 z p>agraphs 7#aj7 & 7#aa71 respectively14 7k7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,am]ican ,recov]y & ,re9ve/m5t ,tax ,act ( #bjji to :i* !y relate4 #baj4 ,am5dm5ts relat+ to ,en]gy ,improvem5t & ,ext5sion ,act ( #bjjh 7a7 ,am5dm5t relat+ to section #ajh ,subp>agraph 7,e7 ( section #de,k7g77#b7 is am5d$ to read z foll[s3 7,e7 ,coord9ation ) section #de ,no cr$it %all be all[$ ) respect to any coke or coke gas :i* is produc$ us+ /eel indu/ry fuel 7z def9$ 9 section #de7;c77#g77 z fe$/ock if a cr$it is all[$ to any taxpay] "u section #de ) respect to ! production ( su* /eel indu/ry fuel4 4 7b7 ,am5dm5t relat+ to section #aac ,p>agraph 7#a7 ( section #aac7;b7 ( ! ,en]gy ,improvem5t & ,ext5sion ,act ( #bjjh is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,f7 ,tru/ ,fund ,! t]m ,tru/ ,fund means ! ,black ,lung ,disability ,tru/ ,fund e/abli%$ "u section #ieja ( ! ,int]nal ,rev5ue ,code ( #aihf4 4 7c7 ,am5dm5ts relat+ to section #cjf 7#a7 ,clause 7ii7 ( section #afh7;i77#ah77;,a7 is am5d$ by /rik+ #aj ye>s & ins]t+ #af ye>s4 7#b7 ,clause 7ii7 ( section #afh7;i77#ai77;,a7 is am5d$ by /rik+ #aj ye>s & ins]t+ #af ye>s4 7d7 ,am5dm5t relat+ to section #cjh ,clause 7i7 ( section #afh7m77#b77;,b7 is am5d$ by /rik+ section #afh7k7 & ins]t+ subsection 7k7 7det]m9$ )\t reg>d to p>agraph 7#d7 !re(74 7e7 ,am5dm5t relat+ to section #djb ,subp>agraph 7,a7 ( section #ijg7;f77#d7 is am5d$ by /rik+ ?is subsection %all be appli$ & all t foll[s ?r\gh ! p]iod at ! end & ins]t+ ! foll[+3 ?is subsection1 z 9 effect on ! day be=e ! date ( ! enactm5t ( ! ,en]gy ,improvem5t & ,ext5sion ,act ( #bjjh1 %all apply to unus$ oil & gas extraction taxes c>ri$ f su* unus$ cr$it ye> to a taxable ye> beg9n+ aft] ,decemb] #ca1 #bjjh44 7f7 ,am5dm5ts relat+ to section #djc 7#a7 ,subsection 7c7 ( section #ajab is am5d$-- 7,a7 by /rik+ funds 9 ! head+ = p>agraph 7#b7 & ins]t+ regulat$ inve/m5t companies1 7,b7 by /rik+ fund 9 ! head+ = p>agraph 7#b77;,b71 & 7,c7 by /rik+ fund ea* place x appe>s 9 p>agraph 7#b7 & ins]t+ regulat$ inve/m5t company4 7#b7 ,p>agraph 7#a7 ( section #ajab7;d7 is am5d$-- 7,a7 by /rik+ ,decemb] #ca1 #bjaj & ins]t+ ,decemb] #ca1 #bjaa1 & 7,b7 by /rik+ an op5-end fund & ins]t+ a regulat$ inve/m5t company4 7#c7 ,p>agraph 7#c7 ( section #ajab7;d7 is am5d$ to read z foll[s3 7#c7 ,sep>ate acc\nts2 election = treatm5t z s+le acc\nt 7,a7 ,9 g5]al ,rules simil> to ! rules ( subsection 7c77#b7 %all apply = purposes ( ?is subsection4 7,b7 ,av]age basis me?od ,not)/&+ p>agraph 7#a71 9 ! case ( an election "u rules simil> to ! rules ( subsection 7c77#b77;,b7 ) respect to /ock held 9 connection ) a divid5d re9ve/m5t plan1 ! av]age basis me?od is p]missible ) respect to all su* /ock )\t reg>d to ! date ( ! acquisition ( su* /ock4 4 7#d7 ,subsection 7g7 ( section #fjde is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#f7 ,special rule = c]ta9 /ock held 9 connection ) divid5d re9ve/m5t plan ,= purposes ( ?is subsection1 /ock acquir$ be=e ,janu>y #a1 #bjab1 9 connection ) a divid5d re9ve/m5t plan %all be treat$ z /ock describ$ 9 clause 7ii7 ( p>agraph 7#c77;,c7 7unless ! brok] ) respect to su* /ock elects n to h ?is p>agraph apply ) respect to su* /ock74 4 7g7 ,cl]ical am5dm5ts 7#a7 ,am5dm5t relat+ to section #ajh ,p>agraph 7#b7 ( section #de7;b7 is am5d$ by /rik+ #c am\nt & ins]t+ #b am\nt4 7#b7 ,am5dm5t relat+ to section #cjf 7,a7 ,p>agraph 7#e7 ( section #afh7;b7 is am5d$ by /rik+ 7#b77;,c7 & ins]t+ 7#b77;,d74 7,b7 ,! la/ s5t5ce ( section #afh7k77#d77;,c77i7 is am5d$ by /rik+ 7b77#b77;,c7 & ins]t+ 7b77#b77;,d74 7h7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,en]gy ,improvem5t & ,ext5sion ,act ( #bjjh to :i* !y relate4 #baa4 ,am5dm5ts relat+ to ,tax ,ext5d]s & ,alt]native ,m9imum ,tax ,relief ,act ( #bjjh 7a7 ,am5dm5t relat+ to section #bjh ,subsection 7b7 ( section #bjh ( ! ,tax ,ext5d]s & ,alt]native ,m9imum ,tax ,relief ,act ( #bjjh is am5d$ to read z foll[s3 7b7 ,effective date 7#a7 ,9 g5]al ,! am5dm5t made by subsection 7a7 %all take effect on ,janu>y #a1 #bjjh4 ,not)/&+ ! prec$+ s5t5ce1 su* am5dm5t %all n apply ) respect to ! )hold+ requirem5t "u section #adde ( ! ,int]nal ,rev5ue ,code ( #aihf = any paym5t made be=e ,octob] #d1 #bjjh4 7#b7 ,am\nts )held on or be=e date ( enactm5t ,9 ! case ( a regulat$ inve/m5t company-- 7,a7 :i* makes a di/ribution aft] ,decemb] #ca1 #bjjg1 & be=e ,octob] #d1 #bjjh1 & 7,b7 :i* w\ld 7b = ! second s5t5ce ( p>agraph 7#a77 h be5 requir$ to )hold ) respect to su* di/ribution "u section #adde ( su* ,code1 su* inve/m5t company %all n be liable to any p]son to :om su* di/ribution 0 made = any am\nt s )held & paid ov] to ! ,secret>y ( ! ,treasury4 4 7b7 ,am5dm5ts relat+ to section #cje ,p>agraphs 7#g77;,b7 & 7#h77;,d7 ( section #afh7;e7 are ea* am5d$ by ins]t+ :i* is n qualifi$ leasehold improvem5t prop]ty aft] ,prop]ty describ$ 9 ?is p>agraph4 7c7 ,cl]ical am5dm5ts 7#a7 ,am5dm5ts relat+ to section #gjf 7,a7 ,p>agraph 7#b7 ( section #ajcc7;h7 is am5d$ by ins]t+ is be=e compulsorily4 7,b7 ,subclause 7,,ii7 ( section #agb7;b77#a77;,f77ii7 is am5d$ by /rik+ subsection 7h77#c77;,c77i7 & ins]t+ section #afe7;h77#c77;,c77i74 7,c7 ,! head+ = p>agraph 7#a7 ( section #afe7;h7 is am5d$ by /rik+ #ajj & ins]t+ ,doll>4 7#b7 ,am5dm5t relat+ to section #gji ,subsection 7k7 ( section #adc is am5d$ by r$esignat+ ! second p>agraph 7#ab7 7relat+ to special rules = resid5ces de/roy$ 9 ,f$]ally decl>$ disa/]s7 z p>agraph 7#ac74 7#c7 ,am5dm5t relat+ to section #gab ,section #gab ( ! ,tax ,ext5d]s & ,alt]native ,m9imum ,tax ,relief ,act ( #bjjh is am5d$ by /rik+ section #gjb7;c77#a77;,a7 & ins]t+ section #gjb7;b77#a77;,a74 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,tax ,ext5d]s & ,alt]native ,m9imum ,tax ,relief ,act ( #bjjh to :i* !y relate4 #bab4 ,cl]ical am5dm5ts relat+ to ,h\s+ ,assi/ance ,tax ,act ( #bjjh 7a7 ,am5dm5t relat+ to section #cjjb ,p>agraph 7#a7 ( section #db7;b7 is am5d$ by /rik+ ,= purposes ( ?is section1 ! t]m & ins]t+ ! foll[+3 ,= purposes ( ?is section-- 7,a7 ,9 g5]al ,! t]m 4 7b7 ,am5dm5t relat+ to section #cjha ,clause 7iv7 ( section #afh7k77#d77;,e7 is am5d$ by /rik+ adju/$ m9imum tax & ins]t+ adju/$ net m9imum tax4 7c7 ,am5dm5t relat+ to section #cjib ,subsection 7b7 ( section #aba is am5d$ by r$esignat+ ! second p>agraph 7#d7 7relat+ to exclusion ( ga9 allocat$ to nonqualifi$ use7 z p>agraph 7#e74 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,h\s+ ,assi/ance ,tax ,act ( #bjjh to :i* !y relate4 #bac4 ,am5dm5ts & provision relat+ to ,h]oes ,e>n+s ,assi/ance & ,relief ,tax ,act ( #bjjh 7a7 ,am5dm5t relat+ to section #ajf ,p>agraph 7#b7 ( section #ajf7;c7 ( ! ,h]oes ,e>n+s ,assi/ance & ,relief ,tax ,act ( #bjjh is am5d$ by /rik+ sub/itut+ = & ins]t+ sub/itut+ ,june #ag1 #bjjh =4 7b7 ,am5dm5t relat+ to section #aad ,p>agraph 7#a7 ( section #abe7;h7 is am5d$ by ins]t+ 7& %all n fail to be treat$ z an accid5t or heal? plan7 be=e m]ely4 7c7 ,cl]ical am5dm5ts 7#a7 ,am5dm5t relat+ to section #aaj ,subp>agraph 7,b7 ( section #aba7;d77#ab7 is am5d$ by ins]t+ ( p>agraph 7#i7 aft] & 7,d74 7#b7 ,am5dm5t relat+ to section #cja ,p>agraph 7#b7 ( section #hgg7;e7 is am5d$ by /rik+ subp>agraph 7,a7 or 7,b7 (4 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,h]oes ,e>n+s ,assi/ance & ,relief ,tax ,act ( #bjjh to :i* !y relate4 #bad4 ,am5dm5ts relat+ to ,economic ,/imulus ,act ( #bjjh 7a7 ,am5dm5ts relat+ to section #aja ,p>agraph 7#b7 ( section #fbac7;g7 is am5d$-- 7#a7 by /rik+ #cb1 or #fdbh 9 subp>agraph 7,l7 & ins]t+ or #cb1 & 7#b7 by /rik+ & at ! end ( subp>agraph 7,o71 by /rik+ ! p]iod at ! end ( subp>agraph 7,p7 & ins]t+ 1 &1 & by ins]t+ aft] subp>agraph 7,p7 ! foll[+ new subp>agraph3 7,q7 an omission ( a correct valid id5tification numb] requir$ "u section #fdbh7;h7 7relat+ to #bjjh recov]y rebates = individuals7 to be includ$ on a return4 4 7b7 ,cl]ical am5dm5t relat+ to section #ajc ,subclause 7,,iv7 ( section #afh7k77#b77;,b77i7 is am5d$ by /rik+ clauses also apply & ins]t+ clause also applies4 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,economic ,/imulus ,act ( #bjjh to :i* !y relate4 #bae4 ,am5dm5ts relat+ to ,tax ,te*nical ,corrections ,act ( #bjjg 7a7 ,am5dm5t relat+ to section #d7;c7 ,p>agraph 7#a7 ( section #iaa7;f7 is am5d$ by add+ at ! end ! foll[+ flu% s5t5ce3 ,= purposes ( ?is p>agraph1 ! am\nt exclud$ "u subsection 7a7 %all be r$uc$ by ! aggregate am\nt ( any d$uctions or exclusions disall[$ "u subsection 7d77#f7 ) respect to su* exclud$ am\nt4 4 7b7 ,cl]ical am5dm5t relat+ to section #aa7;g7 ,clause 7iv7 ( section #ef7;g77#d77;,c7 is am5d$ by /rik+ a coop]ative describ$ 9 section #ibg7;a77#d7 & ins]t+ an organization to :i* "p ,i ( sub*apt] ,t 7relat+ to tax treatm5t ( coop]atives7 applies :i* is engag$ 9 ! m>ket+ ( agricultural or horticultural products4 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provisions ( ! ,tax ,te*nical ,corrections ,act ( #bjjg to :i* !y relate4 #baf4 ,am5dm5t relat+ to ,tax ,relief & ,heal? ,c>e ,act ( #bjjf 7a7 ,am5dm5t relat+ to section #aje ,subp>agraph 7,b7 ( section #de;,a7b77#a7 is am5d$ by add+ at ! end ! foll[+3 ,if any portion ( wages are tak5 into acc\nt "u subsection 7e77#a77;,a7 ( section #ea1 ! prec$+ s5t5ce %all be appli$ by sub/itut+ #b-ye> p]iod = #a-ye> p]iod44 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,tax ,relief & ,heal? ,c>e ,act ( #bjjf to :i* x relates4 #bag4 ,am5dm5t relat+ to ,safe1 ,acc\ntable1 ,flexible1 ,effici5t ,transportation ,equity ,act ( #bjje3 ,a ,legacy = ,us]s 7a7 ,am5dm5t relat+ to section #aaafa ,p>agraph 7#a7 ( section #iejc7;b7 is am5d$ by ins]t+ be=e ! p]iod at ! end ! foll[+3 & taxes receiv$ "u section #djha %all be det]m9$ )\t reg>d to tax receipts attributable to ! rate specifi$ 9 section #djha7;a77#b77;,c74 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,safe1 ,acc\ntable1 ,flexible1 ,effici5t ,transportation ,equity ,act ( #bjje3 ,a ,legacy = ,us]s to :i* x relates4 #bah4 ,am5dm5ts relat+ to ,en]gy ,tax ,inc5tives ,act ( #bjje 7a7 ,am5dm5t relat+ to section #acda ,subp>agraph 7,b7 ( section #cj;,b7h77#e7 is am5d$ by ins]t+ 7det]m9$ )\t reg>d to subsection 7g77 be=e ! p]iod at ! end4 7b7 ,am5dm5t relat+ to section #acdb ,p>agraph 7#a7 ( section #cj;,c7e7 is am5d$ to read z foll[s3 7#a7 ,r$uction 9 basis ,= purposes ( ?is subtitle1 ! basis ( any prop]ty = :i* a cr$it is all[able "u subsection 7a7 %all be r$uc$ by ! am\nt ( su* cr$it s all[$ 7det]m9$ )\t reg>d to subsection 7d774 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,en]gy ,tax ,inc5tives ,act ( #bjje to :i* x relates4 #bai4 ,am5dm5ts relat+ to ,am]ican ,jobs ,creation ,act ( #bjjd 7a7 ,am5dm5t relat+ to section #aja ,subsection 7d7 ( section #aja ( ! ,am]ican ,jobs ,creation ,act ( #bjjd is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#c7 ,coord9ation ) section #aii ,?is subsection %all be appli$ )\t reg>d to any d$uction all[able "u section #aii4 4 7b7 ,am5dm5ts relat+ to section #ajb ,p>agraph 7#c7 ( section #aii7;b7 is am5d$-- 7#a7 by ins]t+ ( a %ort taxable ye> or aft] 9 cases1 & 7#b7 by /rik+ & dispositions & ins]t+ 1 dispositions1 & %ort taxable ye>s4 7c7 ,cl]ical am5dm5t relat+ to section #dac ,p>agraph 7#g7 ( section #ijd7;h7 is am5d$ by /rik+ z ord9>y income "u section #abdf or4 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! provision ( ! ,am]ican ,jobs ,creation ,act ( #bjjd to :i* !y relate4 #bbj4 ,o!r cl]ical corrections 7a7 ,p>agraph 7#h7 ( section #cj;,b7h7 is am5d$ by /rik+ vehicle741 except t & ins]t+ vehicle71 except t4 7b7 ,subp>agraph 7,a7 ( section #ch7;c77#b7 is am5d$ by /rik+ cr$it cr$it & ins]t+ cr$it4 7c7 ,section #df is am5d$ by add+ a comma at ! end ( p>agraph 7#d74 7d7 ,subp>agraph 7,e7 ( section #ej7;a77#b7 is am5d$ by ins]t+ 1 #dh;,a7b77#c71 #dh;,b7b77#c71 #dh;,c7b77#b71 or #dh;,d7b77#d7 aft] 9 section #dh7;b74 7e7 ,clause 7i7 ( section #ed;,a7d77#b77;,a7 is am5d$ by /rik+ #ajj p]c5t or m & ins]t+ #ajj p]c5t4 7f7 ,p>agraph 7#b7 ( section #abe7;b7 is am5d$ by /rik+ /atutory nontaxable b5efits ea* place x appe>s & ins]t+ qualifi$ b5efits4 7g7 ,p>agraph 7#b7 ( section #abe7;h7 is am5d$ by /rik+ means1 any & ins]t+ means any4 7h7 ,subp>agraph 7,f7 ( section #afc7;h77#d7 is am5d$ by /rik+ ,vet]ans ,adm9i/ration or ! ,rural ,h\s+ ,adm9i/ration & ins]t+ ,dep>tm5t ( ,vet]ans ,affairs or ! ,rural ,h\s+ ,s]vice4 7i7 ,subsection 7a7 ( section #bdi is am5d$ by /rik+ #aefc7;a77#a7 & ins]t+ #aefc7;a77#a774 7j7 ,p>agraphs 7#h7 & 7#aj7 ( section #bhj;,f7d7 are ea* am5d$ by /rik+ subsection 7a77#b7 & ins]t+ subsection 7a77#a74 7k7 ,clause 7iii7 ( section #djb;,a7c77#d77;,e7 is am5d$ by /rik+ #djc7;b77#g77;,a77i7 & ins]t+ #djc7;b77#g77;,a77ii74 7l7 ,section #ebg is am5d$-- 7#a7 by /rik+ 7#b ,u4,s4,c4 #dcb7;e77 9 subsection 7h77#b77;,a77i7 & ins]t+ 7#eb ,u4,s4,c4 #cjajb7;e771 & 7#b7 by /rik+ 7#b ,u4,s4,c4 #dca et seq47 9 subsections 7i77#f7 & 7j77#e77;,a7 & ins]t+ 7#eb ,u4,s4,c4 #cjaja et seq474 7m7 ,subsection 7b7 ( section #heh is am5d$ by /rik+ #heg7;b77#h7 & ins]t+ #heg7;b77#i74 7n7 ,subp>agraph 7,a7 ( section #ajab7;c77#b7 is am5d$ by /rik+ section #ajab & ins]t+ ?is section4 7o7 ,! head+ = section #acid7;f7 is am5d$ by /rik+ designat$ "u section #acia7;g74 7p7 ,p>agraphs 7#a7 & 7#b77;,a7 ( section #acid7;f7 are ea* am5d$ by /rik+ a new emp[]m5t zone facility bond & ins]t+ an emp[]m5t zone facility bond4 7q7 ,clause 7i7 ( section #adjj,n7c77#c77;,a7 is am5d$ by /rik+ section #db7;d77#e77;,c77iii7 & ins]t+ section #db7;d77#e77;,b77iii74 7r7 ,subsections 7e77#c77;,b7 & 7f77#g77;,b7 ( section #didc are ea* am5d$ by /rik+ ,janu>y #a1 #aigj & ins]t+ ,janu>y #a1 #aiga4 7s7 ,p>agraph 7#b7 ( section #dihb7;f7 is am5d$ by add+ a comma at ! end4 7t7 ,p>agraph 7#c7 ( section #fjaa7;e7 is am5d$ by /rik+ %all require ?an & ins]t+ %all require t4 7u7 ,subsection 7b7 ( section #fjgb is am5d$ by /rik+ #fjaa7;e77#b7 & ins]t+ #fjaa7;c77#b74 7v7 ,subsection 7d7 ( section #fajd is am5d$ by r$esignat+ ! second p>agraph 7#f7 7relat+ to disclosure ( reports by ! ,int]nal ,rev5ue ,s]vice7 & ?ird p>agraph 7#f7 7relat+ to application to nonexempt *>itable tru/s & nonexempt private f\ndations7 z p>agraphs 7#g7 & 7#h71 respectively4 7w7 ,subsection 7c7 ( section #fffb;,a is am5d$ by /rik+ section #fffd7;d77#b77;,a7 & ins]t+ section #fffd7;d77#c77;,a74 7x7 ,subp>agraph 7,,ff7 ( section #fgbd7;d77#b7 is am5d$ by /rik+ section #fjej,w7c7 & ins]t+ section #fjej,w7f74 7y7 ,section #gabb is am5d$ by r$esignat+ ! second subsection 7f7 7relat+ to frivol\s submissions1 etc47 z subsection 7g74 7z7 ,subsection 7a7 ( section #ijce is am5d$ by /rik+ section #cbj7;b77#a77;,a7 & ins]t+ section #cae7;b77#a77;,a74 7aa7 ,section #ihjb is am5d$ by r$esignat+ ! second subsection 7f7 7relat+ to g5etic in=mation ( a fetus or embryo7 z subsection 7g74 7bb7 ,p>agraph 7#c7 ( section #ac7;e7 ( ! ,work]1 ,home[n]%ip1 & ,bus9ess ,assi/ance ,act ( #bjji is am5d$ by /rik+ subsection 7d7 & ins]t+ subsection 7c74 #bba4 ,deadwood provisions 7a7 ,9 g5]al 7#a7 ,adju/m5ts 9 tax tables s t inflation w n result 9 tax increases ,p>agraph 7#g7 ( section #a7;f7 is am5d$ to read z foll[s3 7#g7 ,special rule = c]ta9 brackets ,9 prescrib+ tables "u p>agraph 7#a7 :i* apply to taxable ye>s beg9n+ 9 a cal5d> ye> aft] #aiid1 ! co/-(-liv+ adju/m5t us$ 9 mak+ adju/m5ts to ! doll> am\nts at :i* ! #cf p]c5t rate bracket beg9s or at :i* ! #ci4f p]c5t rate bracket beg9s %all be det]m9$ "u p>agraph 7#c7 by sub/itut+ #aiic = #aiib4 4 7#b7 ,c]ta9 plug-9 electric vehicles 7,a7 ,subp>t ,b ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #cj 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7,b7 ,subsection 7b7 ( section #ch1 z am5d$ by section #bji7;f77#a7 ( ?is ,act1 is am5d$ by ins]t+ plus at ! end ( p>agraph 7#ce71 by /rik+ p>agraph 7#cf71 & by r$esignat+ p>agraph 7#cg7 z p>agraph 7#cf74 7,c7 ,subclause 7,,vi7 ( section #dh;,c7c77#a77;,a77i7 is am5d$ by /rik+ 1 qualifi$ plug-9 electric vehicles 7z def9$ by section #cj7;d7714 7,d7 ,section #ajaf7;a7 is am5d$ by /rik+ p>agraph 7#be74 7,e7 ,section #feja7m7 is am5d$ by /rik+ section #cj7;e77#f714 7#c7 ,e>n$ income cr$it 7,a7 ,p>agraph 7#a7 ( section #cb7;b7 is am5d$-- 7i7 by /rik+ subp>agraphs 7,b7 & 7,c71 & 7ii7 by /rik+ 7,a7 ,9 g5]al4--,9 ! case ( taxable ye>s beg9n+ aft] #aiie3 9 subp>agraph 7,a7 & mov+ ! table #b ems to ! left4 7,b7 ,subp>agraph 7,b7 ( section #cb7;b77#b7 is am5d$ by /rik+ increas$ by & all t foll[s & ins]t+ increas$ by #c1jjj44 7#d7 ,fir/-"t homebuy] cr$it ,section #fbac7;g77#b71 z am5d$ by section #bad7;a77#b7 ( ?is ,act1 is am5d$ by /rik+ subp>agraph 7,p74 7#e7 ,mak+ "w pay cr$it 7,a7 ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #cf;,a 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7,b7 ,subp>agraph 7,a7 ( section #fbaa7;b77#d7 is am5d$ by /rik+ 1 #cf;,a4 7,c7 ,section #fbac7;g77#b7 is am5d$ by /rik+ subp>agraph 7,n74 7#f7 ,g5]al bus9ess cr$its ,subsection 7d7 ( section #ch is am5d$ by /rik+ p>agraph 7#c74 7#g7 ,l[-income h\s+ cr$it ,subclause 7,i7 ( section #db7;h77#c77;,c77ii7 is am5d$ by /rik+ 7#a4ej = #bjja74 7#h7 ,m9imum tax cr$it 7,a7 7i7 ,section #ec is am5d$ by /rik+ subsections 7e7 & 7f74 7ii7 ,! am5dm5t made by clause 7i7 /rik+ subsection 7f7 ( section #ec ( ! ,int]nal ,rev5ue ,code ( #aihf %all n be con/ru$ to all[ any tax abat$ by reason ( section #ec7;f77#a7 ( su* ,code 7z 9 effect be=e su* am5dm5t7 to be includ$ 9 ! am\nt det]m9$ "u section #ec7;b77#a7 ( su* ,code4 7,b7 ,p>agraph 7#d7 ( section #fbaa7;b77#d7 is am5d$ by /rik+ 1 #ec7;e74 7#i7 ,adju/m5ts bas$ on adju/$ curr5t e>n+s ,clause 7ii7 ( section #ef7;g77#d77;,f7 is am5d$ by /rik+ ,9 ! case ( any taxable ye> beg9n+ aft] ,decemb] #ca1 #aiib1 clause & ins]t+ ,clause4 7#aj7 ,items ( tax pref]5ce2 depletion ,p>agraph 7#a7 ( section #eg7;a7 is am5d$ by /rik+ ,effective ) respect to taxable ye>s beg9n+ aft] ,decemb] #ca1 #aiib1 ?is & ins]t+ ,?is4 7#aa7 ,intangible drill+ co/s 7,a7 ,clause 7i7 ( section #eg7;a77#b77;,e7 is am5d$ by /rik+ ,9 ! case ( any taxable ye> beg9n+ aft] ,decemb] #ca1 #aiib1 ?is & ins]t+ ,?is4 7,b7 ,clause 7ii7 ( section #eg7;a77#b77;,e7 is am5d$ by /rik+ 7#cj p]c5t 9 case ( taxable ye>s beg9n+ 9 #aiic74 7#ab7 ,environm5tal tax 7,a7 ,sub*apt] ,a ( *apt] #a is am5d$ by /rik+ "p ,,vii 7& by /rik+ ! item relat+ to su* "p 9 ! table ( p>ts = su* sub*apt]74 7,b7 ,p>agraph 7#b7 ( section #bf7;b7 is am5d$ by /rik+ subp>agraph 7,b74 7,c7 ,section #cj;,a7c7 is am5d$ by /rik+ p>agraph 7#a7 & by r$esignat+ p>agraphs 7#b71 7#c71 & 7#d7 z p>agraphs 7#a71 7#b71 & 7#c71 respectively4 7,d7 ,subsection 7a7 ( section #afd is am5d$ by /rik+ p>agraph 7#e74 7,e7 ,section #bge7;a7 is am5d$ by /rik+ ! la/ s5t5ce4 7,f7 ,section #hhb7;a77#a7 is am5d$ by /rik+ 1 #ei;,a4 7,g7 ,section #icf7;a77#c7 is am5d$ by /rik+ subp>agraph 7,a7 & by r$esignat+ subp>agraphs 7,b71 7,c71 & 7,d7 z subp>agraphs 7,a71 7,b71 & 7,c71 respectively4 7,h7 ,section #aefa7;a7 is am5d$-- 7i7 by ins]t+ & at ! end ( p>agraph 7#b71 by /rik+ 1 & at ! end ( p>agraph 7#c7 & ins]t+ a p]iod1 & by /rik+ p>agraph 7#d71 & 7ii7 by /rik+ 1 ! am\nt specifi$ 9 p>agraph 7#c71 & ! am\nt specifi$ 9 p>agraph 7#d7 & ins]t+ & ! am\nt specifi$ 9 p>agraph 7#c74 7,i7 ,section #dfaa7;e7 is am5d$-- 7i7 by /rik+ section #ei;,a1 ?is section1 9 p>agraph 7#b77;,b7 & ins]t+ ?is section1 & 7ii7 9 p>agraph 7#c77;,a7-- 7,i7 by /rik+ section #ei;,a1 1 & 7,,ii7 by /rik+ ! comma aft] rate74 7,j7 ,section #fdbe7;c77#a77;,a7 is am5d$ by ins]t+ plus at end ( clause 7i71 by /rik+ plus & ins]t+ ov] at ! end ( clause 7ii71 & by /rik+ clause 7iii74 7,k7 ,section #ffee is am5d$-- 7i7 9 subsections 7e77#b77;,a77i7 & 7e77#b77;,b77i71 by /rik+ taxable income1 alt]native m9imum taxable income1 & modifi$ alt]native m9imum taxable income & ins]t+ taxable income & alt]native m9imum taxable income1 7ii7 9 subsection 7e77#b77;,b71 by /rik+ clause 7iii71 & 7iii7 9 subsection 7g77#a77;,a71 by ins]t+ plus at ! end ( clause 7ii71 by /rik+ clause 7iii71 & by r$esignat+ clause 7iv7 z clause 7iii74 7,l7 ,section #iejg7;b77#a7 is am5d$ by /rik+ #ei;,a14 7#ac7 ,/&>d d$uction 7,a7 ,s mu* ( p>agraph 7#a7 ( section #fc7;c7 z foll[s ! sum (-- is am5d$ to read z foll[s3 7,a7 ! basic /&>d d$uction1 & 7,b7 ! additional /&>d d$uction4 4 7,b7 ,subsection 7c7 ( section #fc is am5d$ by /rik+ p>agraphs 7#g71 7#h71 & 7#i74 7#ad7 ,annuities2 c]ta9 proce$s ( end[m5t & life insurance contracts ,section #gb is am5d$-- 7,a7 9 subsection 7c77#d71 by /rik+ 2 except t if su* date 0 be=e ,janu>y #a1 #aied1 !n ! annuity />t+ date is ,janu>y #a1 #aied1 & 7,b7 9 subsection 7g77#c71 by /rik+ ,janu>y #a1 #aied1 or & 1 :i*ev] is lat]4 7#ae7 ,unemploym5t comp5sation ,section #he is am5d$ by /rik+ subsection 7c74 7#af7 ,accid5t & heal? plans ,section #aje7;f7 is am5d$ by /rik+ or 7d74 7#ag7 ,flexible sp5d+ arrangem5ts ,section #ajf7;c77#a7 is am5d$ by /rik+ ,effective on & aft] ,janu>y #a1 #aiig1 gross & ins]t+ ,gross4 7#ah7 ,c]ta9 combat zone comp5sation ( memb]s ( ! arm$ =ces ,subsection 7c7 ( section #aab is am5d$-- 7,a7 by /rik+ 7aft] ,june #bd1 #aiej7 9 p>agraph 7#b71 & 7,b7 by /rik+ su* zone2 & all t foll[s 9 p>agraph 7#c7 & ins]t+ su* zone44 7#ai7 ,legal s]vice plans 7,a7 ,"p ,,iii ( sub*apt] ,b ( *apt] #a is am5d$ by /rik+ section #abj 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7,b7 7i7 ,section #dad7n77#c77;,c7 is am5d$ by /rik+ #abj14 7ii7 ,section #dad7t77#b7 is am5d$ by /rik+ #abj14 7iii7 ,section #eja7;c7 is am5d$ by /rik+ p>agraph 7#bj74 7iv7 ,section #caba7;a7 is am5d$ by /rik+ p>agraph 7#ag74 7v7 ,section #cbca7;e7 is am5d$ by /rik+ p>agraph 7#g74 7vi7 ,section #ccjf7;b7 is am5d$ by /rik+ p>agraph 7#ab74 7vii7 ,section #fjci;,d7d77#a7 is am5d$ by /rik+ #abj14 7viii7 ,section #bji7;a77#ad7 ( ! ,social ,security ,act is am5d$-- 7,i7 by /rik+ subp>agraph 7,b71 & 7,,ii7 by /rik+ 7#ad77;,a7 & ins]t+ 7#ad74 7#bj7 ,pr9cipal resid5ce ,section #aba7;b77#c7 is am5d$-- 7,a7 by /rik+ subp>agraph 7,b71 & 7,b7 9 subp>agraph 7,a71 by /rik+ 7,a7 ,9 g5]al4-- & mov+ ! text #b ems to ! left4 7#ba7 ,c]ta9 r$uc$ uni=m$ s]vices retirem5t pay ,section #abb7;b77#a7 is am5d$ by /rik+ aft] ,decemb] #ca1 #aife14 7#bb7 ,great pla9s cons]vation program ,section #abf7;a7 is am5d$ by /rik+ p>agraph 7#f7 & by r$esignat+ p>agraphs 7#g71 7#h71 7#i71 & 7#aj7 z p>agraphs 7#f71 7#g71 7#h71 & 7#i71 respectively4 7#bc7 ,treble damage paym5ts "u ! antitru/ law ,section #afb7;g7 is am5d$ by /rik+ ! la/ s5t5ce4 7#bd7 ,/ate legislators' travel exp5ses away f home ,p>agraph 7#d7 ( section #afb7;h7 is am5d$ by /rik+ ,= taxable ye>s beg9n+ aft] ,decemb] #ca1 #aihj1 ?is & ins]t+ ,?is4 7#be7 ,int]e/ 7,a7 ,section #afc is am5d$-- 7i7 by /rik+ p>agraph 7#f7 ( subsection 7d71 & 7ii7 by /rik+ p>agraph 7#e7 ( subsection 7h74 7,b7 ,section #ef7;b77#a77;,c7 is am5d$ by /rik+ clause 7ii7 & by r$esignat+ clauses 7iii71 7iv71 & 7v7 z clauses 7ii71 7iii71 & 7iv71 respectively4 7#bf7 ,qualifi$ motor vehicle taxes ,section #afd1 z am5d$ by section #bji7;c7 ( ?is ,act1 is am5d$ by /rik+ subsections 7a77#f7 & 7b77#f74 7#bg7 ,disa/] losses 7,a7 ,subsection 7h7 ( section #afe is am5d$ by /rik+ p>agraph 7#c7 & by r$esignat+ p>agraphs 7#d7 & 7#e7 z p>agraphs 7#c7 & 7#d71 respectively4 7,b7 ,p>agraph 7#c7 ( section #afe7;h71 z s r$esignat$1 is am5d$ by /rik+ p>agraphs 7#b7 & 7#c7 & ins]t+ p>agraph 7#b74 7,c7 ,subsection 7i7 ( section #afe is am5d$-- 7i7 9 p>agraph 7#a7-- 7,i7 by /rik+ 7z def9$ by clause 7ii7 ( subsection 7h77#c77;,c771 & 7,,ii7 by /rik+ 7z def9$ by clause 7i7 ( su* subsection71 7ii7 by /rik+ 7z def9$ by subsection 7h77#c77;,c77i7 9 p>agraph 7#d71 & 7iii7 by add+ at ! end ! foll[+ new p>agraph3 7#e7 ,f$]ally decl>$ disa/]s ,= purposes ( ?is subsection-- 7,a7 ,9 g5]al ,! t]m ,f$]ally decl>$ disa/] means any disa/] subsequ5tly det]m9$ by ! ,presid5t ( ! ,unit$ ,/ates to w>rant assi/ance by ! ,f$]al ,gov]nm5t "u ! ,rob]t ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy ,assi/ance ,act4 7,b7 ,disa/] area ,! t]m disa/] area means ! area s det]m9$ to w>rant su* assi/ance4 4 7,d7 ,section #ajcc7;h77#c7 is am5d$ by /rik+ section #afe7;h77#c77;,c7 & ins]t+ section #afe7;i77#e74 7#bh7 ,*>itable1 etc41 contributions & gifts ,section #agj is am5d$-- 7,a7 by /rik+ p>agraph 7#c7 ( subsection 7b71 7,b7 by /rik+ p>agraph 7#f7 ( subsection 7e71 & 7,c7 by /rik+ subsection 7k74 7#bi7 ,amortizable bond premium 7,a7 ,subp>agraph 7,b7 ( section #aga7;b77#a7 is am5d$ to read z foll[s3 7,b7 7i7 ) ref]5ce to ! am\nt payable on maturity 7or if x results 9 a small] amortizable bond premium attributable to ! p]iod be=e ! call date1 ) ref]5ce to ! am\nt payable on ! e>li] call date71 9 ! case ( a bond describ$ 9 subsection 7a77#a71 & 7ii7 ) ref]5ce to ! am\nt payable on maturity or on an e>li] call date1 9 ! case ( a bond describ$ 9 subsection 7a77#b74 4 7,b7 ,p>agraphs 7#b7 & 7#c77;,b7 ( section #aga7;b7 are ea* am5d$ by /rik+ p>agraph 7#a77;,b77ii7 & ins]t+ p>agraph 7#a77;,b77i74 7#cj7 ,net op]at+ loss c>rybacks1 c>ryov]s1 & c>ry=w>ds 7,a7 ,section #agb1 z am5d$ by section #baa7;c77#a77;,b7 ( ?is ,act1 is am5d$-- 7i7 by /rik+ subp>agraphs 7,d71 7,h71 7,i71 & 7,j7 ( subsection 7b77#a7 & by r$esignat+ subp>agraphs 7,e71 7,f71 & 7,g7 z subp>agraphs 7,d71 7,e71 & 7,f71 respectively1 & 7ii7 by /rik+ subsections 7g7 & 7j7 & by r$esignat+ subsections 7h71 7i71 & 7k7 z subsections 7g71 7h71 & 7i71 respectively4 7,b7 ,ea* ( ! foll[+ provisions ( section #agb 7z am5d$ by section #baa7;c77#a77;,b7 ( ?is ,act & z r$esignat$ by subp>agraph 7,a77 are am5d$ z foll[s3 7i7 ,by /rik+ end+ aft] ,augu/ #b1 #aihi 9 subsection 7b77#a77;,d77i77,,ii74 7ii7 ,by /rik+ subsection 7h7 9 subsection 7b77#a77;,d77ii7 & ins]t+ subsection 7g74 7iii7 ,by /rik+ section #afe7;h77#c77;,c77i7 9 subsection 7b77#a77;,e77ii77,,ii7 & ins]t+ section #afe7;i77#e74 7iv7 ,by /rik+ subsection 7i7 & all t foll[s 9 ! la/ s5t5ce ( subsection 7b77#a77;,e77ii7 & ins]t+ subsection 7h7744 7v7 ,by /rik+ subsection 7i7 9 subsection 7b77#a77;,f7 & ins]t+ subsection 7h74 7vi7 ,by /rik+ subp>agraph 7,f7 ( p>agraph 7#b7 ( subsection 7g74 7vii7 ,by /rik+ subsection 7b77#a77;,e7 ea* place x appe>s 9 subsection 7g77#d7 & ins]t+ subsection 7b77#a77;,d74 7viii7 ,by /rik+ ! la/ s5t5ce ( subsection 7h77#a74 7ix7 ,by /rik+ subsection 7b77#a77;,g7 ea* place x appe>s 9 subsection 7h77#c7 & ins]t+ subsection 7b77#a77;,f74 7,c7 ,subsection 7d7 ( section #ef is am5d$ by /rik+ p>agraph 7#c74 7,d7 ,p>agraph 7#e7 ( section #chb7l7 is am5d$ by /rik+ subp>agraph 7,f7 & by r$esignat+ subp>agraphs 7,g7 & 7,h7 z subp>agraphs 7,f7 & 7,g71 respectively4 7#ca7 ,rese>* & exp]im5tal exp5ditures ,subp>agraph 7,a7 ( section #agd7;a77#b7 is am5d$ to read z foll[s3 7,a7 ,)\t cons5t ,a taxpay] may1 )\t ! cons5t ( ! ,secret>y1 adopt ! me?od provid$ 9 ?is subsection = 8 fir/ taxable ye> = :i* exp5ditures describ$ 9 p>agraph 7#a7 are paid or incurr$4 4 7#cb7 ,amortization ( c]ta9 rese>* & exp]im5tal exp5ditures ,p>agraph 7#b7 ( section #agd7;b7 is am5d$ by /rik+ beg9n+ aft] ,decemb] #ca1 #aiec4 7#cc7 ,soil & wat] cons]vation exp5ditures ,p>agraph 7#a7 ( section #age7;d7 is am5d$ to read z foll[s3 7#a7 ,)\t cons5t ,a taxpay] may1 )\t ! cons5t ( ! ,secret>y1 adopt ! me?od provid$ 9 ?is section = ! taxpay]'s fir/ taxable ye> = :i* exp5ditures describ$ 9 subsection 7a7 are paid or incurr$4 4 7#cd7 ,clean-fuel vehicles 7,a7 ,"p ,,vi ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #agi;,a 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* "p74 7,b7 ,section #cj;,c7e7 is am5d$ by add+ at ! end ! foll[+3 7#g7 ,ref]5ce ,= purposes ( ?is section1 any ref]5ce to section #agi;,a %all be treat$ z a ref]5ce to su* section z 9 effect imm$iately be=e its repeal4 4 7,c7 ,section #fb7;a7 is am5d$ by /rik+ p>agraph 7#ad74 7,d7 ,section #bfc7;a77#a7 is am5d$ by /rik+ subp>agraph 7,h74 7,e7 ,section #bhj;,f7a77#a7 is am5d$ by /rik+ subp>agraph 7,c74 7,f7 ,section #cab7k77#c7 is am5d$ by /rik+ #agi;,a1 ea* place x appe>s4 7,g7 ,section #ajaf7;a7 is am5d$ by /rik+ p>agraph 7#bd74 7,h7 ,section #abde7;a7 is am5d$ by /rik+ #agi;,a1 ea* place x appe>s 9 p>agraphs 7#b77;,c7 & 7#c77;,c74 7#ce7 ,qualifi$ disa/] exp5ses ,"p ,,vi ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ section #aih;,a 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* "p74 7#cf7 ,activities n engag$ 9 = pr(it ,section #ahc7;e77#a7 is am5d$ by /rik+ ! la/ s5t5ce4 7#cg7 ,dome/ic production activities 7,a7 ,subsection 7a7 ( section #aii is am5d$-- 7i7 by /rik+ p>agraph 7#b71 7ii7 by r$esignat+ subp>agraphs 7,a7 & 7,b7 ( p>agraph 7#a7 z p>agraphs 7#a7 & 7#b71 respectively1 & by mov+ p>agraphs 7#a7 & 7#b7 7z s r$esignat$7 #b ems to ! left1 & 7iii7 by /rik+ ,all[ance ( d$uction4-- & all t foll[s ?r\gh ,!re %all be all[$ & ins]t+ ! foll[+3 7a7 ,all[ance ( d$uction ,!re %all be all[$ 4 7,b7 ,p>agraphs 7#b7 & 7#f77;,b7 ( section #aii7;d7 are ea* am5d$ by /rik+ 7a77#a77;,b7 & ins]t+ 7a77#b74 7#ch7 ,retirem5t sav+s 7,a7 ,subp>agraph 7,a7 ( section #bai7;b77#e7 is am5d$ to read z foll[s3 7,a7 ,9 g5]al ,! d$uctible am\nt is #e1jjj4 4 7,b7 ,clause 7ii7 ( section #bai7;b77#e77;,b7 is am5d$ to read z foll[s3 7ii7 ,applicable am\nt ,= purposes ( clause 7i71 ! applicable am\nt is #a1jjj4 4 7,c7 ,p>agraph 7#e7 ( section #bai7;b7 is am5d$ by /rik+ subp>agraph 7,c7 & by r$esignat+ subp>agraph 7,d7 z subp>agraph 7,c74 7,d7 ,clause 7ii7 ( section #bai7;g77#b77;,a7 is am5d$ by /rik+ = a taxable ye> beg9n+ aft] ,decemb] #ca1 #bjjf4 7,e7 ,section #bai7;g77#c77;,b7 is am5d$ by /rik+ clauses 7i7 & 7ii7 & ins]t+ ! foll[+3 7i7 ,9 ! case ( a taxpay] fil+ a jo9t return1 #hj1jjj4 7ii7 ,9 ! case ( any o!r taxpay] 7o!r ?an a m>ri$ individual fil+ a sep>ate return71 #ej1jjj4 4 7,f7 ,p>agraph 7#h7 ( section #bai7;g7 is am5d$ by /rik+ ! doll> am\nt 9 ! la/ r[ ( ! table conta9$ 9 p>agraph 7#c77;,b77i71 ! doll> am\nt 9 ! la/ r[ ( ! table conta9$ 9 p>agraph 7#c77;,b77ii71 & ! doll> am\nt conta9$ 9 p>agraph 7#g77;,a71 & ins]t+ ea* ( ! doll> am\nts 9 p>agraphs 7#c77;,b77i71 7#c77;,b77ii71 & 7#g77;,a74 7#ci7 ,reports reg>d+ qualifi$ volunt>y retirem5t contributions 7,a7 ,section #bai is am5d$ by /rik+ p>agraph 7#d7 ( subsection 7f7 & subsection 7h74 7,b7 ,section #ffeb is am5d$ by /rik+ subsection 7g74 7#dj7 ,int]e/ on education loans ,p>agraph 7#a7 ( section #bba7;b7 is am5d$ by /rik+ %all n exce$ & all t foll[s & ins]t+ %all n exce$ #b1ejj44 7#da7 ,divid5ds receiv$ on c]ta9 pref]r$ /ock2 & divid5ds paid on c]ta9 pref]r$ /ock ( public utilities 7,a7 ,sections #bdd & #bdg are h]eby repeal$1 & ! table ( sections = "p ,,viii ( sub*apt] ,b ( *apt] #a is am5d$ by /rik+ ! items relat+ to sections #bdd & #bdg4 7,b7 ,p>agraph 7#e7 ( section #agb7;d7 is am5d$ to read z foll[s3 7#e7 ,computation ( d$uction = divid5ds receiv$ ,! d$uctions all[$ by section #bdc 7relat+ to divid5ds receiv$ by corporations7 & #bde 7relat+ to divid5ds receiv$ f c]ta9 =eign corporations7 %all be comput$ )\t reg>d to section #bdf7;b7 7relat+ to limitation on aggregate am\nt ( d$uctions74 4 7,c7 ,p>agraph 7#a7 ( section #bdc7;c7 is am5d$ to read z foll[s3 7#a7 ,9 g5]al ,9 ! case ( any divid5d receiv$ f a #bj-p]c5t own$ corporation1 subsection 7a77#a7 %all be appli$ by sub/itut+ #hj p]c5t = #gj p]c5t4 4 7,d7 ,section #bdc7;d7 is am5d$ by /rik+ p>agraph 7#d74 7,e7 ,section #bdf is am5d$-- 7i7 by /rik+ 1 #bdd1 9 subsection 7a77#a71 7ii7 9 subsection 7b77#a7-- 7,i7 by /rik+ sections #bdc7;a77#a71 #bdd7;a71 & ins]t+ section #bdc7;a77#a71 7,,ii7 by /rik+ #bdd7;a71 ! second place x appe>s1 & 7,,iii7 by /rik+ subsection 7a7 or 7b7 ( section #bde1 & #bdg1 & ins]t+ & subsection 7a7 or 7b7 ( section #bde11 & 7iii7 by /rik+ 1 #bdd1 9 subsection 7c77#a74 7,f7 ,section #bdf;,a is am5d$ by /rik+ 1 #bdd1 bo? places x appe>s 9 subsections 7a7 & 7e74 7,g7 ,sections #bfc7;g77#b77;,b77iii71 #bgg7;a71 #cja7;e77#b71 #dfi7;e77#d71 #eab7;a77#c77;,a71 subp>agraphs 7,a71 7,c71 & 7,d7 ( section #hje7;a77#d71 #hje7;b77#e71 #hab7;e77#b77;,a71 #hae7;c77#b77;,a77iii71 #hcb7;b77#e71 #hcc7;b77#c77;,e71 & #ajei7;b77#b77;,b7 are ea* am5d$ by /rik+ 1 #bdd1 ea* place x appe>s4 7,h7 ,section #abdd7;c77#b77;,c7 is am5d$ by /rik+ #bdd14 7,i7 ,section #hje7;a77#d77;,b7 is am5d$ by /rik+ 1 #bdd7;a71 ea* place x appe>s4 7,j7 ,section #haj7;c77#b77;,b7 is am5d$ by /rik+ #bdd 7relat+ to divid5ds on c]ta9 pref]r$ /ock ( public utilities714 7,k7 ,! am5dm5ts made by ?is p>agraph %all n apply to pref]r$ /ock issu$ be=e ,octob] #a1 #aidb 7det]m9$ 9 ! same mann] z "u section #bdg ( ! ,int]nal ,rev5ue ,code ( #aihf z 9 effect be=e its repeal by su* am5dm5ts74 7#db7 ,organization exp5ses ,section #bdh7;c7 is am5d$ by /rik+ beg9n+ aft] ,decemb] #ca1 #aiec1 & by /rik+ ! la/ s5t5ce4 7#dc7 ,bond repur*ase premium ,section #bdi7;b77#a7 is am5d$ by /rik+ 1 9 ! case ( bonds or o!r evid5ces ( indebt$ness issu$ aft] ,febru>y #bh1 #aiac14 7#dd7 ,am\nt ( ga9 :]e loss previ\sly disall[$ ,section #bfg7;d7 is am5d$ by /rik+ 7or by reason ( section #bd7;b7 ( ! ,int]nal ,rev5ue ,code ( #aici7 9 p>agraph 7#a71 by /rik+ aft] ,decemb] #ca1 #aiec1 9 p>agraph 7#b71 by /rik+ ! second s5t5ce1 & by /rik+ or by reason ( section #aah ( ! ,int]nal ,rev5ue ,code ( #aici 9 ! la/ s5t5ce4 7#de7 ,acquisitions made to evade or avoid income tax ,p>agraphs 7#a7 & 7#b7 ( section #bfi7;a7 are ea* am5d$ by /rik+ or acquir$ on or aft] ,octob] #h1 #aidj14 7#df7 ,meals & ent]ta9m5t ,p>agraph 7#c7 ( section #bgd7n7 is am5d$-- 7,a7 by /rik+ 7,a7 ,9 g5]al4--1 7,b7 by /rik+ sub/itut+ ! applicable p]c5tage = & ins]t+ sub/itut+ #hj p]c5t =1 & 7,c7 by /rik+ subp>agraph 7,b74 7#dg7 ,int]e/ on indebt$ness incurr$ by corporations to acquire /ock or assets ( ano!r corporation 7,a7 ,section #bgi is am5d$-- 7i7 by /rik+ aft] ,decemb] #ca1 #aifg1 9 subsection 7a77#b71 7ii7 by /rik+ aft] ,octob] #i1 #aifi1 9 subsection 7b71 7iii7 by /rik+ aft] ,octob] #i1 #aifi1 & 9 subsection 7d77#e71 & 7iv7 by /rik+ subsection 7i7 & r$esignat+ subsection 7j7 z subsection 7i74 7,b7 ,! am5dm5ts made by ?is p>agraph %all n-- 7i7 apply to obligations issu$ on or be=e ,octob] #i1 #aifi 7det]m9$ 9 ! same mann] z "u section #bgi ( ! ,int]nal ,rev5ue ,code ( #aihf z 9 effect be=e su* am5dm5ts71 & 7ii7 be con/ru$ to require int]e/ on obligations issu$ on or be=e ,decemb] #ca1 #aifg1 to be tak5 into acc\nt "u section #bgi7;a77#b7 ( su* ,code 7z 9 effect aft] su* am5dm5ts74 7#dh7 ,bank hold+ companies 7,a7 ,clause 7iii7 ( section #cjd7;b77#c77;,d7 is repeal$4 7,b7 ,! head+ ( subp>agraph 7,d7 ( section #cjd7;b77#c7 is am5d$ by /rik+ & special rule4 7#di7 ,effect on e>n+s & pr(its ,subsection 7d7 ( section #cab is am5d$ by /rik+ p>agraph 7#b7 & r$esignat+ p>agraph 7#c7 z p>agraph 7#b74 7#ej7 ,disqualifi$ /ock ,p>agraph 7#c7 ( section #cee7;d7 is am5d$ by /rik+ aft] ,octob] #i1 #aiij1 & ea* place x appe>s4 7#ea7 ,basis to corporations ,section #cfb is am5d$ by /rik+ on or aft] ,june #bb1 #aied 9 subsection 7a7 & by /rik+ 1 on or aft] ,june #bb1 #aied1 ea* place x appe>s 9 subsection 7c74 7#eb7 ,tempor>y waiv] ( m9imum requir$ di/ribution ,section #dja7;a77#i7 is am5d$ by /rik+ subp>agraph 7,h74 7#ec7 ,individual retirem5t acc\nts ,clause 7i7 ( section #djh7p77#b77;,e7 is am5d$ to read z foll[s3 7i7 ,9 g5]al ,= purposes ( subp>agraph 7,a77ii71 ! applicable am\nt is #aj1jjj4 4 7#ed7 ,tax cr$it employee /ock own]%ip plans ,section #dji is am5d$ by /rik+ subsection 7q74 7#ee7 ,cat*-up contributions ,clauses 7i7 & 7ii7 ( section #dad7v77#b77;,b7 are am5d$ to read z foll[s3 7i7 ,9 ! case ( an applicable employ] plan o!r ?an a plan describ$ 9 section #dja7k77#aa7 or #djh7p71 ! applicable doll> am\nt is #e1jjj4 7ii7 ,9 ! case ( an applicable employ] plan describ$ 9 section #dja7k77#aa7 or #djh7p71 ! applicable doll> am\nt is #b1ejj4 4 7#ef7 ,employee /ock pur*ase plans ,section #dbc7;a7 is am5d$ by /rik+ aft] ,decemb] #ca1 #aifc14 7#eg7 ,p5sion relat$ transition rules 7,a7 ,section #djb7;g77#a77;,b7 is am5d$ by /rik+ %all be & all t foll[s & ins]t+ is #ae1jjj44 7,b7 7i7 ,subp>agraph 7,d7 ( section #dag7;e77#c7 is am5d$-- 7,i7 by /rik+ clauses 7ii7 & 7iii71 7,,ii7 by /rik+ if-- & all t foll[s ?r\gh section #dcj7;h77#b77;,d7 & ins]t+ if section #dcj7;h77#b77;,d71 & 7,,iii7 by /rik+ describ$ 9 su* section1 & ins]t+ describ$ 9 su* section44 7ii7 ,clause 7iii7 ( section #bje7;g77#c77;,b7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajee7;g77#c77;,b77 is am5d$-- 7,i7 by /rik+ subclauses 7,,ii7 & 7,,iii71 7,,ii7 by /rik+ if-- & all t foll[s ?r\gh section #cjc7;h77#b77;,d7 & ins]t+ if section #cjc7;h77#b77;,d71 & 7,,iii7 by /rik+ describ$ 9 su* section1 & ins]t+ describ$ 9 su* section44 7,c7 7i7 ,p>agraph 7#e7 ( section #dcj7;c7 is am5d$ by /rik+ subp>agraph 7,b7 & by /rik+ 7,a7 ,9 g5]al4--4 7ii7 ,p>agraph 7#e7 ( section #cjc7;c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhc7;c77 is am5d$ by /rik+ subp>agraph 7,b7 & by /rik+ 7,a7 ,9 g5]al4--4 7,d7 7i7 ,p>agraph 7#b7 ( section #dcj7;h7 is am5d$ by /rik+ subp>agraph 7,g74 7ii7 ,p>agraph 7#b7 ( section #cjc7;h7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhc7;h77 is am5d$ by /rik+ subp>agraph 7,g74 7,e7 7i7 ,p>agraph 7#c7 ( section #dcf7;j71 z add$ by section #aac7;a77#a77;,b7 ( ! ,p5sion ,protection ,act ( #bjjf1 is am5d$ by /rik+ subp>agraphs 7,b7 & 7,c7 & by /rik+ 7,a7 ,9 g5]al4--4 7ii7 ,subp>agraph 7,c7 ( section #bjf7;g77#i7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajef7;g77#i77 is am5d$ by /rik+ clauses 7ii7 & 7iii7 & by /rik+ 7i7 ,9 g5]al4--4 7,f7 7i7 ,section #dcf7;j7 is am5d$ by /rik+ ! p>agraph 7#c7 add$ by section #bjc7;a77#b7 ( ! ,pres]vation ( ,access to ,c>e = ,m$ic>e ,b5efici>ies & ,p5sion ,relief ,act ( #bjaj4 7ii7 ,section #bjf7;g77#i7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajef7;g77#i77 is am5d$ by /rik+ subp>agraph 7,d74 7,g7 7i7 ,section #dcf is am5d$ by /rik+ subsection 7m74 7ii7 ,section #bjf7;g7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajef7;g77 is am5d$ by /rik+ p>agraph 7#aa74 7,h7 ,section #deg7;e77#ae77;,a7 is am5d$ by /rik+ %all be & all t foll[s & ins]t+ is #ae1jjj44 7#eh7 ,limitation on d$uctions = c]ta9 f>m+ 7,a7 ,section #dfd is am5d$ by /rik+ any f>m+ syndicate 7z def9$ 9 subsection 7c77 bo? places x appe>s 9 subsections 7a7 & 7b7 & ins]t+ any taxpay] to :om subsection 7d7 applies4 7,b7 7i7 ,subsection 7c7 ( section #dfd is h]eby mov$ to ! end ( section #dfa & r$esignat$ z subsection 7j74 7ii7 ,su* subsection 7j7 is am5d$-- 7,i7 by /rik+ ,= purposes ( ?is section 9 p>agraph 7#a7 & ins]t+ ,= purposes ( subsection 7i77#d71 & 7,,ii7 by add+ at ! end ! foll[+ new p>agraphs3 7#c7 ,f>m+ ,= purposes ( ?is subsection1 ! t]m f>m+ has ! mean+ giv5 to su* t]m by section #dfd7;e74 7#d7 ,limit$ entrepr5eur ,= purposes ( ?is subsection1 ! t]m limit$ entrepr5eur means a p]son :o-- 7,a7 has an int]e/ 9 an ent]prise o!r ?an z a limit$ p>tn]1 & 7,b7 does n actively p>ticipate 9 ! managem5t ( su* ent]prise4 4 7iii7 ,p>agraph 7#d7 ( section #dfa7;i7 is am5d$ by /rik+ section #dfd7;c7 & ins]t+ subsection 7j74 7,c7 ,section #dfd is am5d$-- 7i7 by /rik+ subsections 7e7 & 7g7 & r$esignat+ subsections 7d7 & 7f7 z subsections 7c7 & 7d71 respectively1 & 7ii7 by add+ at ! end ! foll[+ new subsection3 7e7 ,f>m+ ,= purposes ( ?is section1 ! t]m f>m+ means ! cultivation ( l& or ! rais+ or h>ve/+ ( any agricultural or horticultural commodity includ+ ! rais+1 %e>+1 fe$+1 c>+ =1 tra9+1 & managem5t ( animals4 ,= purposes ( ! prec$+ s5t5ce1 trees 7o!r ?an trees be>+ fruit or nuts7 %all n be treat$ z an agricultural or horticultural commodity4 4 7,d7 ,subsection 7d7 ( section #dfd ( su* ,code 7z r$esignat$ by subp>agraph 7,c77 is am5d$-- 7i7 by /rik+ p>agraph 7#a7 & r$esignat+ p>agraphs 7#b71 7#c71 & 7#d7 z p>agraphs 7#a71 7#b71 & 7#c71 respectively1 & 7ii7 by /rik+ ,subsections 7a7 & 7b7 to apply to 9 ! head+4 7,e7 ,subp>agraph 7,a7 ( section #eh7;a77#b7 is am5d$ by /rik+ section #dfd7;c7 & ins]t+ section #dfa7;j74 7#ei7 ,d$uctions limit$ to am\nt at risk ,subp>agraph 7,a7 ( section #dfe7;c77#c7 is am5d$ by /rik+ ,9 ! case ( taxable ye>s beg9n+ aft] ,decemb] #ca1 #aigh1 ?is & ins]t+ ,?is4 7#fj7 ,passive activity losses & cr$its limit$ 7,a7 ,section #dfi is am5d$ by /rik+ subsection 7m74 7,b7 ,subsection 7b7 ( section #eh is am5d$ by add+ & at ! end ( p>agraph 7#a71 by /rik+ p>agraph 7#b71 & by r$esignat+ p>agraph 7#c7 z p>agraph 7#b74 7#fa7 ,adju/m5ts requir$ by *anges 9 me?od ( acc\nt+ ,section #dha7;b77#c7 is am5d$ by /rik+ subp>agraph 7,c74 7#fb7 ,exemption f tax on corporations1 c]ta9 tru/s1 etc ,section #eja is am5d$ by /rik+ subsection 7s74 7#fc7 ,requirem5ts = exemption 7,a7 ,section #ejc7;a77#a7 is am5d$ to read z foll[s3 7#a7 ,g5]al rule ,an organization describ$ 9 p>agraph 7#ag7 or 7#ah7 ( section #eja7;c71 or describ$ 9 section #dja7;a7 & ref]r$ to 9 section #dige7;g7 7#b7 or 7#c71 %all n be exempt f taxation "u section #eja7;a7 if x has engag$ 9 a prohibit$ transaction4 4 7,b7 ,p>agraph 7#b7 ( section #ejc7;a7 is am5d$ by /rik+ describ$ 9 section #eja7;c77#ag7 or 7#ah7 or p>agraph 7a77#a77;,b7 & ins]t+ describ$ 9 p>agraph 7#a74 7,c7 ,subsection 7c7 ( section #ejc is am5d$ by /rik+ describ$ 9 section #eja7;c77#ag7 or 7#ah7 or subsection 7a77#a77;,b7 & ins]t+ describ$ 9 subsection 7a77#a74 7#fd7 ,accumulat$ taxable income ,p>agraph 7#a7 ( section #ece7;b7 & p>agraph 7#a7 ( section #ede7;b7 are ea* am5d$ by /rik+ section #eca & all t foll[s & ins]t+ section #eca or ! p]sonal hold+ company tax impos$ by section #eda44 7#fe7 ,def9ition ( prop]ty ,subsection 7b7 ( section #fad is am5d$-- 7,a7 by /rik+ p>agraphs 7#c77;,c7 & 7#e71 & 7,b7 9 p>agraph 7#d71 by /rik+ :i*ev] ( ! foll[+ ye>s is lat]3 ,! fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #aifc1 or 4 7#ff7 ,am\nts receiv$ by surviv+ annuitant "u jo9t & survivor annuity contract ,subp>agraph 7,a7 ( section #fia7;d77#a7 is am5d$ by /rik+ aft] ,decemb] #ca1 #aiec1 &4 7#fg7 ,income taxes ( memb]s ( arm$ =ces on dea? ,section #fib7;a77#a7 is am5d$ by /rik+ aft] ,june #bd1 #aiej4 7#fh7 ,special rules = comput+ res]ves ,p>agraph 7#g7 ( section #hjg7;e7 is am5d$ by /rik+ subp>agraph 7,b7 & r$esignat+ subp>agraph 7,c7 z subp>agraph 7,b74 7#fi7 ,insurance company taxable income 7,a7 ,section #hcb7;e7 is am5d$ by /rik+ ( taxable ye>s beg9n+ aft] ,decemb] #ca1 #aiff14 7,b7 ,section #hcb7;e77#f7 is am5d$ by /rik+ ,9 ! case ( any taxable ye> beg9n+ aft] ,decemb] #ca1 #aigj1 ! & ins]t+ ,!4 7#gj7 ,capitalization ( c]ta9 policy acquisition exp5ses ,section #hdh is am5d$ by /rik+ subsection 7j74 7#ga7 ,tax on nonresid5t ali5 individuals ,subp>agraph 7,b7 ( section #hga7;a77#a7 is am5d$ to read z foll[s3 7,b7 ga9s describ$ 9 subsection 7b7 or 7c7 ( section #fca1 4 7#gb7 ,limitation on cr$it ,p>agraph 7#b7 ( section #ijd7;d7 is am5d$ by /rik+ subp>agraph 7,j74 7#gc7 ,=eign e>n$ income ,clause 7i7 ( section #iaa7;b77#b77;,d7 is am5d$ to read z foll[s3 7i7 ,9 g5]al ,! exclusion am\nt = any cal5d> ye> is #hj1jjj4 4 7#gd7 ,basis ( prop]ty acquir$ f dec$5t 7,a7 ,section #ajad7;a77#b7 is am5d$ to read z foll[s3 7#b7 9 ! case ( an election "u section #bjcb1 its value at ! applicable valuation date prescrib$ by su* section1 4 7,b7 ,section #ajad7;b7 is am5d$ by /rik+ p>agraphs 7#g7 & 7#h74 7#ge7 ,adju/$ basis ,section #ajaf7;a7 is am5d$ by /rik+ p>agraph 7#ab74 7#gf7 ,prop]ty on :i* lessee has made improvem5ts ,section #ajai is am5d$ by /rik+ ! la/ s5t5ce4 7#gg7 ,involunt>y conv]sion ,section #ajcc is am5d$ by /rik+ subsection 7j7 & by r$esignat+ subsections 7k7 & 7l7 z subsections 7j7 & 7k71 respectively4 7#gh7 ,prop]ty acquir$ dur+ affiliation ,section #ajea is h]eby repeal$1 & ! table ( sections = "p ,,iv ( sub*apt] ,o ( *apt] #a is am5d$ by /rik+ ! item relat+ to section #ajea4 7#gi7 ,capital ga9s & losses ,section #abbb is am5d$ by /rik+ ! la/ s5t5ce4 7#hj7 ,hold+ p]iod ( prop]ty 7,a7 ,p>agraph 7#a7 ( section #abbc is am5d$ by /rik+ aft] ,m>* #a1 #aied14 7,b7 ,p>agraph 7#d7 ( section #abbc is am5d$ by /rik+ 7or "u s mu* ( section #ajeb7;c7 z ref]s to section #aac7;a77#bc7 ( ! ,int]nal ,rev5ue ,code ( #aici74 7,c7 ,p>agraphs 7#f7 & 7#h7 ( section #abbc are repeal$4 7#ha7 ,prop]ty us$ 9 ! trade or bus9ess & involunt>y conv]sions ,subp>agraph 7,a7 ( section #abca7;c77#b7 is am5d$ by /rik+ beg9n+ aft] ,decemb] #ca1 #aiha4 7#hb7 ,sale or ex*ange ( pat5ts ,section #abce is am5d$-- 7,a7 by /rik+ subsection 7c7 & by r$esignat+ subsections 7d7 & 7e7 z subsections 7c7 & 7d71 respectively1 & 7,b7 by /rik+ subsection 7d7 9 subsection 7b77#b77;,b7 & ins]t+ subsection 7c74 7#hc7 ,deal]s 9 securities ,subsection 7b7 ( section #abcf is am5d$ by /rik+ aft] ,novemb] #ai1 #aiea14 7#hd7 ,sale ( pat5ts ,subsection 7a7 ( section #abdi is am5d$ by /rik+ aft] ,decemb] #ca1 #aifb14 7#he7 ,ga9 f disposition ( f>ml& ,p>agraph 7#a7 ( section #abeb7;a7 is am5d$-- 7,a7 by /rik+ aft] ,decemb] #ca1 #aifi ! fir/ place x appe>s1 & 7,b7 by /rik+ aft] ,decemb] #ca1 #aifi1 9 subp>agraph 7,a74 7#hf7 ,treatm5t ( am\nts receiv$ on retirem5t or sale or ex*ange ( debt in/rum5ts ,subsection 7c7 ( section #abga is am5d$ to read z foll[s3 7c7 ,special rule = c]ta9 obligations ) respect to :i* orig9al issue disc\nt n curr5tly includible 7#a7 ,9 g5]al ,on ! sale or ex*ange ( debt in/rum5ts issu$ by a gov]nm5t or political subdivision !re( aft] ,decemb] #ca1 #aied1 & be=e ,july #b1 #aihb1 or by a corporation aft] ,decemb] #ca1 #aied1 & on or be=e ,may #bg1 #aifi1 any ga9 realiz$ :i* does n exce$-- 7,a7 an am\nt equal to ! orig9al issue disc\nt1 or 7,b7 if at ! "t ( orig9al issue !re 0 no int5tion to call ! debt in/rum5t be=e maturity1 an am\nt :i* be>s ! same ratio to ! orig9al issue disc\nt z ! numb] ( complete mon?s t ! debt in/rum5t 0 held by ! taxpay] be>s to ! numb] ( complete mon?s f ! date ( orig9al issue to ! date ( maturity1 %all be consid]$ z ord9>y income4 7#b7 ,subsection 7a77#b77;,a7 n to apply ,subsection 7a77#b77;,a7 %all n apply to any debt in/rum5t ref]r$ to 9 p>agraph 7#a7 ( ?is subsection4 7#c7 ,cross ref]5ce ,= curr5t inclusion ( orig9al issue disc\nt1 see section #abgb4 4 7#hg7 ,am\nt & me?od ( adju/m5t ,section #acad is am5d$ by /rik+ subsection 7d7 & by r$esignat+ subsection 7e7 z subsection 7d74 7#hh7 ,election2 revocation2 t]m9ation ,clause 7iii7 ( section #acfb7;d77#c77;,a7 is am5d$ by /rik+ unless & all t foll[s & ins]t+ unless ! corporation 0 an ,s corporation = su* taxable ye>44 7#hi7 ,old-age1 survivors1 & disability insurance ,subsection 7a7 ( section #adja is am5d$ by /rik+ ! foll[+ p]c5t & all t foll[s & ins]t+ #ab4d p]c5t ( ! am\nt ( ! self-employm5t income = su* taxable ye>44 7#ij7 ,hospital insurance ,p>agraph 7#a7 ( section #adja7;b7 is am5d$ by /rik+3 ! foll[+ p]c5t & all t foll[s & ins]t+ #b4i p]c5t ( ! am\nt ( ! self-employm5t income = su* taxable ye>44 7#ia7 ,m9i/]s1 memb]s ( religi\s ord]s1 & *ri/ian sci5ce practition]s ,p>agraph 7#c7 ( section #adjb7;e7 is am5d$-- 7,a7 by /rik+ :i*ev] ( ! foll[+ dates is lat]3 7,a71 & 7,b7 by /rik+ 2or 7,b7' & all t foll[s & ins]t+ a p]iod4 7#ib7 ,)hold+ ( tax on nonresid5t ali5s ,! fir/ s5t5ce ( subsection 7b7 ( section #adda & ! fir/ s5t5ce ( p>agraph 7#e7 ( section #adda7;c7 are ea* am5d$ by /rik+ ga9s subject to tax & all t foll[s ?r\gh ,octob] #d1 #aiff & ins]t+ & ga9s subject to tax "u section #hga7;a77#a77;,d74 7#ic7 ,affiliat$ gr\p def9$ ,subp>agraph 7,a7 ( section #aejd7;a77#c7 is am5d$ by /rik+ = a taxable ye> :i* includes any p]iod aft] ,decemb] #ca1 #aihd 9 clause 7i7 & by /rik+ 9 a taxable ye> beg9n+ aft] ,decemb] #ca1 #aihd 9 clause 7ii74 7#id7 ,disall[ance ( ! b5efits ( ! graduat$ corporate rates & accumulat$ e>n+s cr$it 7,a7 ,subsection 7a7 ( section #aeea is am5d$-- 7i7 by /rik+ p>agraph 7#a7 & by r$esignat+ p>agraphs 7#b7 & 7#c7 z p>agraphs 7#a7 & 7#b71 respectively1 & 7ii7 by /rik+ aft] ,june #ab1 #aifc1 ea* place x appe>s4 7,b7 ,section #aeea7;b7 is am5d$-- 7i7 by /rik+ or 7#b7 9 p>agraph 7#a71 & 7ii7 by /rik+ 7a77#c7 9 p>agraph 7#b7 & ins]t+ 7a77#b74 7#ie7 ,cr$it = /ate dea? taxes 7,a7 7i7 ,"p ,,ii ( sub*apt] ,a ( *apt] #aa is am5d$ by /rik+ section #bjaa 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7ii7 ,section #bajf7;a77#d7 is am5d$ by /rik+ section #bjaa7;a7 & ins]t+ #bjeh7;a74 7,b7 7i7 ,sub*apt] ,a ( *apt] #ac is am5d$ by /rik+ section #bfjd 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7ii7 ,clause 7ii7 ( section #afd7;b77#d77;,a7 is am5d$ by ins]t+ 7z 9 effect be=e its repeal7 aft] section #bfjd4 7iii7 ,section #bfed7;a77#a7 is am5d$ by /rik+ 7comput$ )\t reg>d to section #bfjd74 7#if7 ,gross e/ate ,subsection 7c7 ( section #bjca is am5d$ by /rik+ p>agraph 7#c7 & by am5d+ p>agraph 7#a77;,b7 to read z foll[s3 7,,ii7 #ejj1jjj4 4 7#ig7 7,a7 ,"p ,,iv ( sub*apt] ,a ( *apt] #aa is am5d$ by /rik+ section #bjeg 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* subp>t74 7,b7 ,p>agraph 7#aj7 ( section #bjca7;c7 is am5d$ by ins]t+ 7z 9 effect be=e its repeal7 imm$iately be=e ! p]iod at ! end !re(4 7#ih7 ,prop]ty )9 ! ,unit$ ,/ates ,subsection 7c7 ( section #bajd is am5d$ by /rik+ ,) respect to e/ates ( dec$5ts dy+ aft] ,decemb] #ca1 #aifi1 deposits & ins]t+ ,deposits4 7#ii7 ,,fica taxes 7,a7 ,subsection 7a7 ( section #caja is am5d$ by /rik+ ! foll[+ p]c5tages & all t foll[s & ins]t+ #f4b p]c5t ( ! wages 7z def9$ 9 section #caba7;a77 receiv$ by ! individual ) respect to employm5t 7z def9$ 9 section #caba7;b774 7,b7 7i7 ,subsection 7a7 ( section #caaa is am5d$ by /rik+ ! foll[+ p]c5tages & all t foll[s & ins]t+ #f4b p]c5t ( ! wages 7z def9$ 9 section #caba7;a77 paid by ! employ] ) respect to employm5t 7z def9$ 9 section #caba7;b7744 7ii7 ,subsection 7b7 ( section #caaa is am5d$ by /rik+ ! foll[+ p]c5tages & all t foll[s & ins]t+ #a4de p]c5t ( ! wages 7z def9$ 9 section #caba7;a77 paid by ! employ] ) respect to employm5t 7z def9$ 9 section #caba7;b7744 7,c7 7i7 ,section #caba7;b7 is am5d$ by /rik+ p>agraph 7#ag74 7ii7 ,section #baj7;a7 ( ! ,social ,security ,act is am5d$ by /rik+ p>agraph 7#ag74 7#ajj7 ,railroad retirem5t 7,a7 ,subsection 7b7 ( section #cbja is am5d$ to read z foll[s3 7b7 ,ti] #b tax ,9 addition to o!r taxes1 !re is h]eby impos$ on ! income ( ea* employee a tax equal to ! p]c5tage det]m9$ "u section #cbda = any cal5d> ye> ( ! comp5sation receiv$ dur+ su* cal5d> ye> by su* employee = s]vices r5d]$ by su* employee4 4 7,b7 ,subsection 7b7 ( section #cbaa is am5d$ to read z foll[s3 7b7 ,ti] #b tax ,9 addition to o!r taxes1 !re is h]eby impos$ on ! income ( ea* employee repres5tative a tax equal to ! p]c5tage det]m9$ "u section #cbda = any cal5d> ye> ( ! comp5sation receiv$ dur+ su* cal5d> ye> by su* employee repres5tative = s]vices r5d]$ by su* employee repres5tative4 4 7,c7 ,subsection 7b7 ( section #cbba is am5d$ to read z foll[s3 7b7 ,ti] #b tax ,9 addition to o!r taxes1 !re is h]eby impos$ on e employ] an excise tax1 ) respect to hav+ individuals 9 8 employ1 equal to ! p]c5tage det]m9$ "u section #cbda = any cal5d> ye> ( ! comp5sation paid dur+ su* cal5d> ye> by su* employ] = s]vices r5d]$ to su* employ]4 4 7,d7 ,subsection 7b7 ( section #cbca is am5d$-- 7i7 by /rik+ comp5sation2 except & all t foll[s 9 ! fir/ s5t5ce & ins]t+ comp5sation41 & 7ii7 by /rik+ ! second s5t5ce4 7#aja7 ,cr$its aga9/ ,f$]al unemploym5t tax 7,a7 ,p>agraph 7#d7 ( section #ccjb7;f7 is am5d$-- 7i7 by /rik+ subsection-- & all t foll[s ?r\gh 7,a7 ,9 g5]al4--,! & ins]t+ subsection1 !1 7ii7 by /rik+ subp>agraph 7,b71 7iii7 by r$esignat+ clauses 7i7 & 7ii7 z subp>agraphs 7,a7 & 7,b71 respectively1 & 7iv7 by mov+ ! text ( su* subp>agraphs 7z s r$esignat$7 #b ems to ! left4 7,b7 ,p>agraph 7#e7 ( section #ccjb7;f7 is am5d$ by /rik+ subp>agraph 7,d7 & by r$esignat+ subp>agraph 7,e7 z subp>agraph 7,d74 7#ajb7 ,dome/ic s]vice employm5t taxes ,section #ceaj7;b7 is am5d$ by /rik+ p>agraph 7#d74 7#ajc7 ,luxury pass5g] automobiles 7,a7 ,*apt] #ca is am5d$ by /rik+ sub*apt] ,a 7& by /rik+ ! item relat+ to su* sub*apt] 9 ! table ( sub*apt]s = su* *apt]74 7,b7 7i7 ,section #dbba is am5d$-- 7,i7 9 subsections 7a7 & 7d77#a71 by /rik+ sub*apt] ,a or & ins]t+ sub*apt]1 7,,ii7 9 subsection 7a71 by /rik+ ,9 ! case ( taxes impos$ by sub*apt] ,a ( *apt] #ca1 p>agraphs 7#a71 7#c71 7#d71 & 7#e7 %all n apply41 & 7,,iii7 9 subsection 7c71 by /rik+ #djja7;c71 #djja7;d71 or4 7ii7 ,section #dbbb is am5d$ by /rik+ #djja7;c71 #djja7;d714 7iii7 ,section #dbic is am5d$ by /rik+ sub*apt] ,a ( *apt] #ca14 7#ajd7 ,transportation by air ,section #dbfa7;e7 is am5d$-- 7,a7 9 p>agraph 7#a71 by /rik+ subp>agraph 7,c71 & 7,b7 by /rik+ p>agraph 7#e74 7#aje7 ,taxes on failure to di/ribute income 7,a7 ,subsection 7g7 ( section #didb is am5d$ by /rik+ ,= all taxable ye>s beg9n+ on or aft] ,janu>y #a1 #aige1 subject 9 p>agraph 7#b77;,a7 & ins]t+ ,subject4 7,b7 ,section #didb7;i77#b7 is am5d$ by /rik+ beg9n+ aft] ,decemb] #ca1 #aifi1 &4 7#ajf7 ,taxes on taxable exp5ditures ,section #dide7;f7 is am5d$ by /rik+ 7exclud+ !refrom any prec$+ taxable ye> :i* beg9s be=e ,janu>y #a1 #aigj74 7#ajg7 ,def9itions & special rules ,section #dfhb7;h7 is am5d$-- 7,a7 by /rik+ p>agraph 7#a7 & r$esignat+ p>agraphs 7#b71 7#c71 & 7#d7 z p>agraphs 7#a71 7#b71 & 7#c71 respectively1 & 7,b7 9 p>agraph 7#a7 7z s r$esignat$7-- 7i7 by /rik+ ! head+ & ins]t+ ,9 g5]al1 & 7ii7 by /rik+ aft] #aiia 9 subp>agraph 7,c74 7#ajh7 ,returns ,subsection 7a7 ( section #fjci;,d is am5d$ by /rik+ beg9n+ aft] ,decemb] #ca1 #aihd14 7#aji7 ,in=mation returns ,subsection 7c7 ( section #fjfj is am5d$ by /rik+ ye> & all t foll[s & ins]t+ ye>44 7#aaj7 ,collection ,section #fcjb is am5d$-- 7,a7 9 subsection 7e77#b71 by /rik+ impos$ by & all t foll[s ?r\gh ) respect to & ins]t+ impos$ by sections #dbea1 #dbfa1 or #dbga ) respect to1 7,b7 by /rik+ ! la/ s5t5ce ( subsection 7f77#a71 & 7,c7 9 subsection 7h7-- 7i7 by /rik+ p>agraph 7#b7 & r$esignat+ p>agraphs 7#c7 & 7#d7 z p>agraphs 7#b7 & 7#c71 respectively1 & 7ii7 by am5d+ p>agraph 7#c7 7z s r$esignat$7 to read z foll[s3 7#c7 ,coord9ation ) o!r electronic fund transf] requirem5ts ,"u regulations1 any tax requir$ to be paid by electronic fund transf] "u section #ejfa7;e7 or #egjc7;b7 %all be paid 9 su* a mann] z to ensure t ! requirem5ts ( ! second s5t5ce ( p>agraph 7#a77;,a7 ( ?is subsection are satisfi$4 4 7#aaa7 ,abatem5ts ,section #fdjd7;f7 is am5d$ by /rik+ p>agraph 7#c74 7#aab7 #bjjh ,recov]y rebate = individuals 7,a7 ,sub*apt] ,b ( *apt] #fe is am5d$ by /rik+ section #fdbh 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* sub*apt]74 7,b7 ,subp>agraph 7,a7 ( section #fbaa7;b77#d7 is am5d$ by /rik+ #fdbh14 7,c7 ,p>agraph 7#b7 ( section #fbac7;g71 z am5d$ by section #bad7;a77#b7 ( ?is ,act & p>agraphs 7#d7 & 7#e77;,c7 ( ?is subsection1 is am5d$ by /rik+ subp>agraph 7,q71 by r$esignat+ subp>agraph 7,o7 z subp>agraph 7,n71 by ins]t+ & at ! end ( subp>agraph 7,m71 & by /rik+ ! comma at ! end ( subp>agraph 7,n7 7z s r$esignat$7 & ins]t+ a p]iod4 7,d7 ,p>agraph 7#b7 ( section #acbd7;b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by /rik+ #fdbh1 or #fdca1 & ins]t+ or #fdca4 7#aac7 ,advance paym5t ( portion ( increas$ *ild cr$it = #bjjc ,sub*apt] ,b ( *apt] #fe is am5d$ by /rik+ section #fdbi 7& by /rik+ ! item relat+ to su* section 9 ! table ( sections = su* sub*apt]74 7#aad7 ,failure by corporation to pay e/imat$ income tax ,clause 7i7 ( section #ffee7;g77#d77;,a7 is am5d$ by /rik+ 7or ! correspond+ provisions ( prior law74 7#aae7 ,retirem5t ,section #gddg7;i77#c77;,b77ii7 is am5d$ by /rik+ at #d p]c5t p] annum to ,decemb] #ca1 #aidg1 & #c p]c5t p] annum !reaft]1 & ins]t+ at #c p]c5t p] annum4 7#aaf7 ,annuities to surviv+ sp\ses & dep5d5t *ildr5 ( judges 7,a7 ,p>agraph 7#b7 ( section #gddh7;a7 is am5d$-- 7i7 by /rik+ or "u section #aajf ( ! ,int]nal ,rev5ue ,code ( #aici1 & 7ii7 by /rik+ or pursuant to section #aajf7;d7 ( ! ,int]nal ,rev5ue ,code ( #aici4 7,b7 ,subsection 7g7 ( section #gddh is am5d$ by /rik+ or o!r ?an pursuant to section #aajf ( ! ,int]nal ,rev5ue ,code ( #aici4 7,c7 ,subsections 7g71 7j77#a71 & 7j77#b7 ( section #gddh are ea* am5d$ by /rik+ at #d p]c5t p] annum to ,decemb] #ca1 #aidg1 & #c p]c5t p] annum !reaft] & ins]t+ at #c p]c5t p] annum4 7#aag7 ,m]*ant m>9e capital con/ruction funds ,p>agraph 7#d7 ( section #geah7;g7 is am5d$ by /rik+ any nonqualifi$ )drawal & all t foll[s ?r\gh #8%all be det]m9$ & ins]t+ any nonqualifi$ )drawal %all be det]m9$4 7#aah7 ,valuation tables 7,a7 ,subsection 7c7 ( section #gebj is am5d$ by /rik+ p>agraph 7#b7 & r$esignat+ p>agraph 7#c7 z p>agraph 7#b74 7,b7 ,p>agraph 7#b7 ( section #gebj7;c7 7z r$esignat$ by subp>agraph 7,a77 is am5d$-- 7i7 by /rik+ ,n lat] ?an ,decemb] #ca1 #aihi1 ! & ins]t+ ,!1 & 7ii7 by /rik+ !reaft] 9 ! la/ s5t5ce !re(4 7#aai7 ,def9ition ( employee ,section #ggja7;a77#bj7 is am5d$ by /rik+ *apt] #ba & all t foll[s & ins]t+ *apt] #ba44 7b7 ,effective date 7#a7 ,g5]al rule ,except z o!rwise provid$ 9 subsection 7a7 or p>agraph 7#b7 ( ?is subsection1 ! am5dm5ts made by ?is section %all take effect on ! date ( enactm5t ( ?is ,act4 7#b7 ,sav+s provision ,if-- 7,a7 any provision am5d$ or repeal$ by ! am5dm5ts made by ?is section appli$ to-- 7i7 any transaction occurr+ be=e ! date ( ! enactm5t ( ?is ,act1 7ii7 any prop]ty acquir$ be=e su* date ( enactm5t1 or 7iii7 any item ( income1 loss1 d$uction1 or cr$it tak5 into acc\nt be=e su* date ( enactm5t1 & 7,b7 ! treatm5t ( su* transaction1 prop]ty1 or item "u su* provision w\ld 7)\t reg>d to ! am5dm5ts or repeals made by ?is section7 affect ! liability = tax = p]iods end+ aft] date ( enactm5t1 no?+ 9 ! am5dm5ts or repeals made by ?is section %all be con/ru$ to affect ! treatm5t ( su* transaction1 prop]ty1 or item = purposes ( det]m9+ liability = tax = p]iods end+ aft] su* date ( enactm5t4 ,,iii ,jo9t ,committee on ,taxation #cja4 ,increas$ refund & cr$it ?re%old = ,jo9t ,committee on ,taxation review ( ,c corporation return 7a7 ,9 g5]al ,subsections 7a7 & 7b7 ( section #fdje are ea* am5d$ by ins]t+ 7#e1jjj1jjj 9 ! case ( a ,c corporation7 aft] #b1jjj1jjj4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect on ! date ( ! enactm5t ( ?is ,act1 except t su* am5dm5t %all n apply ) respect to any refund or cr$it ) respect to a report t has be5 made be=e su* date "u section #fdje ( ! ,int]nal ,rev5ue ,code ( #aihf4 ,,iv ,budget>y effects #dja4 ,budget>y effects 7a7 ,paygo scorec>d ,! budget>y effects ( ?is ,act %all n be ent]$ on ei!r ,,paygo scorec>d ma9ta9$ pursuant to section #d7;d7 ( ! ,/atutory ,pay-,z-,y-,g ,act ( #bjaj4 7b7 ,s5ate paygo scorec>d ,! budget>y effects ( ?is ,act %all n be ent]$ on any ,,paygo scorec>d ma9ta9$ = purposes ( section #bja ( ,s4 ,con4 ,res4 #ba 7#aaj? ,congress74 ,b ,a*iev+ a ,bett] ,life ,exp]i5ce ,act ( #bjad #a4 ,%ort title2 etc 7a7 ,%ort title ,?is division may be cit$ z ! ,a*iev+ a ,bett] ,life ,exp]i5ce ,act ( #bjad or ! ,,able ,act ( #bjad4 7b7 ,am5dm5t ( #aihf ,code ,except z o!rwise expressly provid$1 :5ev] 9 ?is ,act an am5dm5t or repeal is express$ 9 t]ms ( an am5dm5t to1 or repeal (1 a section or o!r provision1 ! ref]5ce %all be consid]$ to be made to a section or o!r provision ( ! ,int]nal ,rev5ue ,code ( #aihf4 ,i ,qualifi$ ,able ,programs #aja4 ,purposes ,! purposes ( ?is title are z foll[s3 7#a7 ,to enc\rage & assi/ individuals & families 9 sav+ private funds = ! purpose ( support+ individuals ) disabilities to ma9ta9 heal?1 indep5d5ce1 & quality ( life4 7#b7 ,to provide secure fund+ = disability-relat$ exp5ses on behalf ( designat$ b5efici>ies ) disabilities t w supplem5t1 b n supplant1 b5efits provid$ ?r\gh private insurance1 ! ,m$icaid program "u title ,,xix ( ! ,social ,security ,act1 ! supplem5tal security income program "u title ,,xvi ( su* ,act1 ! b5efici>y's employm5t1 & o!r s\rces4 #ajb4 ,qualifi$ ,,able programs 7a7 ,9 g5]al ,sub*apt] ,f ( *apt] #a is am5d$ by ins]t+ aft] section #ebi ! foll[+ new section3 #ebi;,a4 ,qualifi$ ,,able programs 7a7 ,g5]al rule ,a qualifi$ ,,able program %all be exempt f taxation "u ?is subtitle4 ,not)/&+ ! prec$+ s5t5ce1 su* program %all be subject to ! taxes impos$ by section #eaa 7relat+ to imposition ( tax on unrelat$ bus9ess income ( *>itable organizations74 7b7 ,qualifi$ ,,able program ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ ,,able program means a program e/abli%$ & ma9ta9$ by a ,/ate1 or ag5cy or in/rum5tality !re(-- 7,a7 "u :i* a p]son may make contributions = a taxable ye>1 = ! b5efit ( an individual :o is an eligible individual = su* taxable ye>1 to an ,,able acc\nt :i* is e/abli%$ = ! purpose ( meet+ ! qualifi$ disability exp5ses ( ! designat$ b5efici>y ( ! acc\nt1 7,b7 :i* limits a designat$ b5efici>y to #a ,,able acc\nt = purposes ( ?is section1 7,c7 :i* all[s = ! e/abli%m5t ( an ,,able acc\nt only = a designat$ b5efici>y :o is a resid5t ( su* ,/ate or a resid5t ( a contract+ ,/ate1 & 7,d7 :i* meets ! o!r requirem5ts ( ?is section4 7#b7 ,ca% contributions ,a program %all n be treat$ z a qualifi$ ,,able program unless x provides t no contribution w be accept$-- 7,a7 unless x is 9 ca%1 or 7,b7 except 9 ! case ( contributions "u subsection 7c77#a77;,c71 if su* contribution to an ,,able acc\nt w\ld result 9 aggregate contributions f all contributors to ! ,,able acc\nt = ! taxable ye> exce$+ ! am\nt 9 effect "u section #bejc7;b7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s4 ,= purposes ( ?is p>agraph1 rules simil> to ! rules ( section #djh7;d77#d7 7det]m9$ )\t reg>d to subp>agraph 7,b7 !re(7 %all apply4 7#c7 ,sep>ate acc\nt+ ,a program %all n be treat$ z a qualifi$ ,,able program unless x provides sep>ate acc\nt+ = ea* designat$ b5efici>y4 7#d7 ,limit$ inve/m5t direction ,a program %all n be treat$ z a qualifi$ ,,able program unless x provides t any designat$ b5efici>y "u su* program may1 directly or indirectly1 direct ! inve/m5t ( any contributions to ! program 7or any e>n+s !reon7 no m ?an #b times 9 any cal5d> ye>4 7#e7 ,no pl$g+ ( int]e/ z security ,a program %all n be treat$ z a qualifi$ ,,able program if x all[s any int]e/ 9 ! program or any portion !re( to be us$ z security = a loan4 7#f7 ,prohibition on excess contributions ,a program %all n be treat$ z a qualifi$ ,,able program unless x provides adequate safegu>ds to prev5t aggregate contributions on behalf ( a designat$ b5efici>y 9 excess ( ! limit e/abli%$ by ! ,/ate "u section #ebi7;b77#f74 ,= purposes ( ! prec$+ s5t5ce1 aggregate contributions include contributions "u any prior qualifi$ ,,able program ( any ,/ate or ag5cy or in/rum5tality !re(4 7c7 ,tax treatm5t 7#a7 ,di/ributions 7,a7 ,9 g5]al ,any di/ribution "u a qualifi$ ,,able program %all be includible 9 ! gross income ( ! di/ributee 9 ! mann] z provid$ "u section #gb to ! ext5t n exclud$ f gross income "u any o!r provision ( ?is *apt]4 7,b7 ,di/ributions = qualifi$ disability exp5ses ,= purposes ( ?is p>agraph1 if di/ributions f a qualifi$ ,,able program-- 7i7 d n exce$ ! qualifi$ disability exp5ses ( ! designat$ b5efici>y1 no am\nt %all be includible 9 gross income1 & 7ii7 9 any o!r case1 ! am\nt o!rwise includible 9 gross income %all be r$uc$ by an am\nt :i* be>s ! same ratio to su* am\nt z su* exp5ses be> to su* di/ributions4 7,c7 ,*ange 9 designat$ b5efici>ies or programs 7i7 ,rollov]s f ,,able acc\nts ,subp>agraph 7,a7 %all n apply to any am\nt paid or di/ribut$ f an ,,able acc\nt to ! ext5t t ! am\nt receiv$ is paid1 n lat] ?an ! #fj? day aft] ! date ( su* paym5t or di/ribution1 into ano!r ,,able acc\nt = ! b5efit ( ! same designat$ b5efici>y or an eligible individual :o is a family memb] ( ! designat$ b5efici>y4 7ii7 ,*ange 9 designat$ b5efici>ies ,any *ange 9 ! designat$ b5efici>y ( an int]e/ 9 a qualifi$ ,,able program dur+ a taxable ye> %all n be treat$ z a di/ribution = purposes ( subp>agraph 7,a7 if ! new b5efici>y is an eligible individual = su* taxable ye> & a memb] ( ! family ( ! =m] b5efici>y4 7iii7 ,limitation on c]ta9 rollov]s ,clause 7i7 %all n apply to any transf] if su* transf] occurs )9 #ab mon?s f ! date ( a previ\s transf] to any qualifi$ ,,able program = ! b5efit ( ! designat$ b5efici>y4 7,d7 ,op]at+ rules ,= purposes ( apply+ section #gb-- 7i7 except to ! ext5t provid$ by ! ,secret>y1 all di/ributions dur+ a taxable ye> %all be treat$ z "o di/ribution1 & 7ii7 except to ! ext5t provid$ by ! ,secret>y1 ! value ( ! contract1 income on ! contract1 & inve/m5t 9 ! contract %all be comput$ z ( ! close ( ! cal5d> ye> 9 :i* ! taxable ye> beg9s4 7#b7 ,gift tax rules ,= purposes ( *apt]s #ab & #ac-- 7,a7 ,contributions ,any contribution to a qualifi$ ,,able program on behalf ( any designat$ b5efici>y-- 7i7 %all be treat$ z a complet$ gift to su* designat$ b5efici>y :i* is n a future int]e/ 9 prop]ty1 & 7ii7 %all n be treat$ z a qualifi$ transf] "u section #bejc7;e74 7,b7 ,treatm5t ( di/ributions ,9 no ev5t %all a di/ribution f an ,,able acc\nt to su* acc\nt's designat$ b5efici>y be treat$ z a taxable gift4 7,c7 ,treatm5t ( transf] to new designat$ b5efici>y ,! taxes impos$ by *apt]s #ab & #ac %all n apply to a transf] by reason ( a *ange 9 ! designat$ b5efici>y "u subsection 7c77#a77;,c74 7#c7 ,additional tax = di/ributions n us$ = disability exp5ses 7,a7 ,9 g5]al ,! tax impos$ by ?is *apt] = any taxable ye> on any taxpay] :o receives a di/ribution f a qualifi$ ,,able program :i* is includible 9 gross income %all be increas$ by #aj p]c5t ( ! am\nt :i* is s includible4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply if ! paym5t or di/ribution is made to a b5efici>y 7or to ! e/ate ( ! designat$ b5efici>y7 on or aft] ! dea? ( ! designat$ b5efici>y4 7,c7 ,contributions return$ be=e c]ta9 date ,subp>agraph 7,a7 %all n apply to ! di/ribution ( any contribution made dur+ a taxable ye> on behalf ( ! designat$ b5efici>y if-- 7i7 su* di/ribution is receiv$ on or be=e ! day prescrib$ by law 7includ+ ext5sions ( "t7 = fil+ su* designat$ b5efici>y's return = su* taxable ye>1 & 7ii7 su* di/ribution is accompani$ by ! am\nt ( net income attributable to su* excess contribution4 ,any net income describ$ 9 clause 7ii7 %all be includ$ 9 gross income = ! taxable ye> 9 :i* su* excess contribution 0 made4 7#d7 ,loss ( ,,able acc\nt treatm5t ,if an ,,able acc\nt is e/abli%$ = a designat$ b5efici>y1 no acc\nt subsequ5tly e/abli%$ = su* b5efici>y %all be treat$ z an ,,able acc\nt4 ,! prec$+ s5t5ce %all n apply 9 ! case ( an acc\nt e/abli%$ = purposes ( a rollov] describ$ 9 p>agraph 7#a77;,c77i7 ( ?is section if ! transf]or acc\nt is clos$ z ( ! end ( ! #fj? day ref]r$ to 9 p>agraph 7#a77;,c77i74 7d7 ,reports 7#a7 ,9 g5]al ,ea* (fic] or employee hav+ control ( ! qualifi$ ,,able program or _! designee %all make su* reports reg>d+ su* program to ! ,secret>y & to designat$ b5efici>ies ) respect to contributions1 di/ributions1 ! return ( excess contributions1 & su* o!r matt]s z ! ,secret>y may require4 7#b7 ,c]ta9 aggregat$ in=mation ,= rese>* purposes1 ! ,secret>y %all make available to ! public reports conta9+ aggregate in=mation1 by diagnosis & o!r relevant *>act]i/ics1 on contributions & di/ributions f ! qualifi$ ,,able program4 ,9 c>ry+ out ! prec$+ s5t5ce an item may n be made available to ! public if su* item c be associat$ )1 or o!rwise id5tify1 directly or indirectly1 a p>ticul> individual4 7#c7 ,notice ( e/abli%m5t ( ,,able acc\nt ,a qualifi$ ,,able program %all submit a notice to ! ,secret>y ^u ! e/abli%m5t ( an ,,able acc\nt4 ,su* notice %all conta9 ! "n & ,/ate ( resid5ce ( ! designat$ b5efici>y & su* o!r in=mation z ! ,secret>y may require4 7#d7 ,electronic di/ribution /atem5ts ,= purposes ( section #d ( ! ,a*iev+ a ,bett] ,life ,exp]i5ce ,act ( #bjad1 ,/ates %all submit electronically on a mon?ly basis to ! ,commission] ( ,social ,security1 9 ! mann] specifi$ by ! ,commission]1 /atem5ts on relevant di/ributions & acc\nt balances f all ,,able acc\nts4 7#e7 ,requirem5ts ,! reports & notices requir$ by p>agraphs 7#a71 7#b71 & 7#c7 %all be fil$ at su* "t & 9 su* mann] & furni%$ to su* individuals at su* "t & 9 su* mann] z may be requir$ by ! ,secret>y4 7e7 ,o!r def9itions & special rules ,= purposes ( ?is section-- 7#a7 ,eligible individual ,an individual is an eligible individual = a taxable ye> if dur+ su* taxable ye>-- 7,a7 ! individual is entitl$ to b5efits bas$ on bl9dness or disability "u title ,,ii or ,,xvi ( ! ,social ,security ,act1 & su* bl9dness or disability occurr$ be=e ! date on :i* ! individual atta9$ age #bf1 or 7,b7 a disability c]tification ) respect to su* individual is fil$ ) ! ,secret>y = su* taxable ye>4 7#b7 ,disability c]tification 7,a7 ,9 g5]al ,! t]m disability c]tification means1 ) respect to an individual1 a c]tification to ! satisfaction ( ! ,secret>y by ! individual or ! p>5t or gu>dian ( ! individual t-- 7i7 c]tifies t-- 7,i7 ! individual has a m$ically det]m9able physical or m5tal impairm5t1 :i* results 9 m>k$ & sev]e functional limitations1 & :i* c be expect$ to result 9 dea? or :i* has la/$ or c be expect$ to la/ = a cont9u\s p]iod ( n less ?an #ab mon?s1 or is bl9d 7)9 ! mean+ ( section #afad7;a77#b7 ( ! ,social ,security ,act71 & 7,,ii7 su* bl9dness or disability occurr$ be=e ! date on :i* ! individual atta9$ age #bf1 & 7ii7 includes a copy ( ! individual's diagnosis relat+ to ! individual's relevant impairm5t or impairm5ts1 sign$ by a physician meet+ ! crit]ia ( section #ahfa7r77#a7 ( ! ,social ,security ,act4 7,b7 ,re/riction on use ( c]tification ,no inf]5ce may be drawn f a disability c]tification = purposes ( e/abli%+ eligibility = b5efits "u title ,,ii1 ,,xvi1 or ,,xix ( ! ,social ,security ,act4 7#c7 ,designat$ b5efici>y ,! t]m designat$ b5efici>y 9 connection ) an ,,able acc\nt e/abli%$ "u a qualifi$ ,,able program means ! eligible individual :o e/abli%$ an ,,able acc\nt & is ! own] ( su* acc\nt4 7#d7 ,memb] ( family ,! t]m memb] ( ! family means1 ) respect to any designat$ b5efici>y1 an individual :o be>s a relation%ip to su* b5efici>y :i* is describ$ 9 subp>agraph section #aeb7;d77#b77;,b74 ,= purposes ( ! prec$+ s5t5ce1 a rule simil> to ! rule ( section #aeb7;f77#a77;,b7 %all apply4 7#e7 ,qualifi$ disability exp5ses ,! t]m qualifi$ disability exp5ses means any exp5ses relat$ to ! eligible individual's bl9dness or disability :i* are made = ! b5efit ( an eligible individual :o is ! designat$ b5efici>y1 includ+ ! foll[+ exp5ses3 education1 h\s+1 transportation1 employm5t tra9+ & support1 assi/ive te*nology & p]sonal support s]vices1 heal?1 prev5tion & wellness1 f9ancial managem5t & adm9i/rative s]vices1 legal fees1 exp5ses = ov]sight & monitor+1 fun]al & burial exp5ses1 & o!r exp5ses1 :i* are approv$ by ! ,secret>y "u regulations & consi/5t ) ! purposes ( ?is section4 7#f7 ,,able acc\nt ,! t]m ,,able acc\nt means an acc\nt e/abli%$ by an eligible individual1 own$ by su* eligible individual1 & ma9ta9$ "u a qualifi$ ,,able program4 7#g7 ,contract+ ,/ate ,! t]m contract+ ,/ate means a ,/ate )\t a qualifi$ ,,able program :i* has ent]$ into a contract ) a ,/ate ) a qualifi$ ,,able program to provide resid5ts ( ! contract+ ,/ate access to a qualifi$ ,,able program4 7f7 ,transf] to ,/ate ,subject to any out/&+ paym5ts due = qualifi$ disability exp5ses1 ^u ! dea? ( ! designat$ b5efici>y1 all am\nts rema9+ 9 ! qualifi$ ,,able acc\nt n 9 excess ( ! am\nt equal to ! total m$ical assi/ance paid = ! designat$ b5efici>y aft] ! e/abli%m5t ( ! acc\nt1 net ( any premiums paid f ! acc\nt or paid by or on behalf ( ! b5efici>y to a ,m$icaid ,buy-,9 program "u any ,/ate ,m$icaid plan e/abli%$ "u title ,,xix ( ! ,social ,security ,act1 %all be di/ribut$ to su* ,/ate ^u fil+ ( a claim = paym5t by su* ,/ate4 ,= purposes ( ?is p>agraph1 ! ,/ate %all be a cr$itor ( an ,,able acc\nt & n a b5efici>y4 ,subsection 7c77#c7 %all n apply to a di/ribution "u ! prec$+ s5t5ce4 7g7 ,regulations ,! ,secret>y %all prescribe su* regulations or o!r guidance z ! ,secret>y det]m9es necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+ regulations-- 7#a7 to en=ce ! #a ,,able acc\nt p] eligible individual limit1 7#b7 provid+ = ! in=mation requir$ to be pres5t$ to op5 an ,,able acc\nt1 7#c7 to g5]ally def9e qualifi$ disability exp5ses1 7#d7 develop$ 9 consultation ) ! ,commission] ( ,social ,security1 relat+ to disability c]tifications & det]m9ations ( disability1 includ+ ^? conditions deem$ to meet ! requirem5ts ( subsection 7e77#a77;,b71 7#e7 to prev5t fraud & abuse ) respect to am\nts claim$ z qualifi$ disability exp5ses1 7#f7 "u *apt]s #aa1 #ab1 & #ac ( ?is title1 & 7#g7 to all[ = transf]s f "o ,,able acc\nt to ano!r ,,able acc\nt4 4 7b7 ,tax on excess contributions 7#a7 ,9 g5]al ,subsection 7a7 ( section #digc 7relat+ to tax on excess contributions to c]ta9 tax-favor$ acc\nts & annuities7 is am5d$ by /rik+ or at ! end ( p>agraph 7#d71 by ins]t+ or at ! end ( p>agraph 7#e71 & by ins]t+ aft] p>agraph 7#e7 ! foll[+ new p>agraph3 7#f7 an ,,able acc\nt 7)9 ! mean+ ( section #ebi;,a71 4 7#b7 ,excess contribution ,section #digc is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,excess contributions to ,,able acc\nt ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,9 ! case ( an ,,able acc\nt 7)9 ! mean+ ( section #ebi;,a71 ! t]m excess contributions means ! am\nt by :i* ! am\nt contribut$ = ! taxable ye> to su* acc\nt 7o!r ?an contributions "u section #ebi;,a7c77#a77;,c77 exce$s ! contribution limit "u section #ebi;,a7b77#b77;,b74 7#b7 ,special rule ,= purposes ( ?is subsection1 any contribution :i* is di/ribut$ out ( ! ,,able acc\nt 9 a di/ribution to :i* ! la/ s5t5ce ( section #ebi;,a7b77#b7 applies %all be treat$ z an am\nt n contribut$4 4 7c7 ,p5alty = failure to file reports ,section #ffic7;a77#b7 is am5d$ by /rik+ & at ! end ( subp>agraph 7,d71 by r$esignat+ subp>agraph 7,e7 z subp>agraph 7,f71 & by ins]t+ aft] subp>agraph 7,d7 ! foll[+3 7,e7 section #ebi;,a7d7 7relat+ to qualifi$ ,,able programs71 & 4 7d7 ,records ,section #eeb;a7a77#h77;,b7 ( title #e1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 9 clause 7viii71 by /rik+ or at ! end2 7#b7 9 clause 7ix71 by add+ or at ! end2 & 7#c7 by add+ at ! end ! foll[+ new clause3 7x7 mat*es p]=m$ pursuant to section #c7;d77#d7 ( ! ,a*iev+ a ,bett] ,life ,exp]i5ce ,act ( #bjad2 4 7e7 ,o!r con=m+ am5dm5ts 7#a7 ,section #bf7;b77#b7 is am5d$ by /rik+ & at ! end ( subp>agraph 7,w71 by /rik+ ! p]iod at ! end ( subp>agraph 7,x7 & ins]t+ 1 &1 & by ins]t+ aft] subp>agraph 7,x7 ! foll[+3 7,y7 section #ebi;,a7c77#c77;,a7 7relat+ to additional tax on ,,able acc\nt di/ributions n us$ = qualifi$ disability exp5ses74 4 7#b7 ,section #hgg;,a is am5d$-- 7,a7 9 subsection 7e77#b7 by ins]t+ a qualifi$ ,,able program 7z def9$ 9 section #ebi;,a71 aft] #ebi711 & 7,b7 9 subsection 7g77#f7 by ins]t+ #ebi;,a7c77#c71 aft] #ebi7;c77#f714 7#c7 ,section #dife7;c7 is am5d$ by /rik+ or at ! end ( p>agraph 7#f71 by /rik+ ! p]iod at ! end ( p>agraph 7#g7 & ins]t+ 1 or1 & by ins]t+ aft] p>agraph 7#g7 ! foll[+ new p>agraph3 7#h7 a program describ$ 9 section #ebi;,a4 4 7#d7 ,! head+ = "p ,,viii ( sub*apt] ,f ( *apt] #a is am5d$ by /rik+ ,high] ,education & ins]t+ ,c]ta94 7#e7 ,! item 9 ! table ( p>ts = sub*apt] ,f ( *apt] #a relat+ to "p ,,viii is am5d$ to read z foll[s3 ,"p ,,viii4 ,c]ta9 ,sav+s ,entities4 4 7#f7 ,! table ( sections = "p ,,viii ( sub*apt] ,f ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #ebi ! foll[+ new item3 ,sec4 #ebi;,a4 ,qualifi$ ,,able programs4 4 7#g7 ,p>agraph 7#d7 ( section #ajbg7;g7 ( ! ,consum] ,f9ancial ,protection ,act ( #bjaj 7#ab ,u4,s4,c4 #eeag7;g77#d77 is am5d$ by ins]t+ 1 #ebi;,a aft] #ebi4 7f7 ,effective date 7#a7 ,9 g5]al ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 7#b7 ,regulations ,! ,secret>y ( ! ,treasury 7or ! ,secret>y's designee7 %all promulgate ! regulations or o!r guidance requir$ "u section #ebi;,a7g7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z add$ by subsection 7a71 n lat] ?an #f mon?s aft] ! date ( ! enactm5t ( ?is ,act4 #ajc4 ,treatm5t ( ,,able acc\nts "u c]ta9 ,f$]al programs 7a7 ,acc\nt funds disreg>d$ = purposes ( c]ta9 o!r means-,te/$ ,f$]al programs ,not)/&+ any o!r provision ( ,f$]al law t requires consid]ation ( #a or m f9ancial circum/ances ( an individual1 = ! purpose ( det]m9+ eligibility to receive1 or ! am\nt (1 any assi/ance or b5efit au?oriz$ by su* provision to be provid$ to or = ! b5efit ( su* individual1 any am\nt 7includ+ e>n+s !reon7 9 ! ,,able acc\nt 7)9 ! mean+ ( section #ebi;,a ( ! ,int]nal ,rev5ue ,code ( #aihf7 ( su* individual1 any contributions to ! ,,able acc\nt ( ! individual1 & any di/ribution = qualifi$ disability exp5ses 7z def9$ 9 subsection 7e77#e7 ( su* section7 %all be disreg>d$ = su* purpose ) respect to any p]iod dur+ :i* su* individual ma9ta9s1 makes contributions to1 or receives di/ributions f su* ,,able acc\nt1 except t1 9 ! case ( ! supplem5tal security income program "u title ,,xvi ( ! ,social ,security ,act-- 7#a7 a di/ribution = h\s+ exp5ses 7)9 ! mean+ ( su* subsection7 %all n be s disreg>d$1 & 7#b7 9 ! case ( su* program1 any am\nt 7includ+ su* e>n+s7 9 su* ,,able acc\nt %all be consid]$ a res\rce ( ! designat$ b5efici>y to ! ext5t t su* am\nt exce$s #ajj1jjj4 7b7 ,susp5sion ( ,,ssi b5efits dur+ p]iods ( excessive acc\nt funds 7#a7 ,9 g5]al ,! b5efits ( an individual "u ! supplem5tal security income program "u title ,,xvi ( ! ,social ,security ,act %all n be t]m9at$1 b %all be susp5d$1 by reason ( excess res\rces ( ! individual attributable to an am\nt 9 ! ,,able acc\nt 7)9 ! mean+ ( section #ebi;,a ( ! ,int]nal ,rev5ue ,code ( #aihf7 ( ! individual n disreg>d$ "u subsection 7a7 ( ?is section4 7#b7 ,no impact on ,m$icaid eligibility ,an individual :o w\ld be receiv+ paym5t ( su* supplem5tal security income b5efits b = ! application ( p>agraph 7#a7 %all be treat$ = purposes ( title ,,xix ( ! ,social ,security ,act z if ! individual cont9u$ to be receiv+ paym5t ( su* b5efits4 7c7 ,effective date ,?is section %all take effect on ! date ( ! enactm5t ( ?is ,act4 #ajd4 ,treatm5t ( able acc\nts 9 bankruptcy 7a7 ,exclusion f prop]ty ( ! e/ate ,section #eda7;b7 ( ! title #aa1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 9 p>agraph 7#h71 by /rik+ or at ! end2 7#b7 9 p>agraph 7#i71 by /rik+ ! p]iod at ! end & ins]t+ a semicolon & or2 & 7#c7 by ins]t+ aft] p>agraph 7#i7 ! foll[+3 7#aj7 funds plac$ 9 an acc\nt ( a qualifi$ ,,able program 7z def9$ 9 section #ebi;,a7b7 ( ! ,int]nal ,rev5ue ,code ( #aihf7 n lat] ?an #cfe days be=e ! date ( ! fil+ ( ! petition 9 a case "u ?is title1 b-- 7,a7 only if ! designat$ b5efici>y ( su* acc\nt 0 a *ild1 /ep*ild1 gr&*ild1 or /epgr&*ild ( ! debtor = ! taxable ye> = :i* funds 7 plac$ 9 su* acc\nt2 7,b7 only to ! ext5t t su* funds-- 7i7 are n pl$g$ or promis$ to any entity 9 connection ) any ext5sion ( cr$it2 & 7ii7 are n excess contributions 7z describ$ 9 section #digc7;h7 ( ! ,int]nal ,rev5ue ,code ( #aihf72 & 7,c7 9 ! case ( funds plac$ 9 all su* acc\nts hav+ ! same designat$ b5efici>y n e>li] ?an #gbj days nor lat] ?an #cfe days be=e su* date1 only s mu* ( su* funds z does n exce$ #f1bbe4 4 7b7 ,debtor's mon?ly exp5ses ,section #gjg7;b77#b77;,a77ii77,,ii7 ( title #aa1 ,unit$ ,/ates ,code1 is am5d$ by add+ at ! end ,su* mon?ly exp5ses may include1 if applicable1 contributions to an acc\nt ( a qualifi$ ,,able program to ! ext5t su* contributions are n excess contributions 7z describ$ 9 section #digc7;h7 ( ! ,int]nal ,rev5ue ,code ( #aihf7 & if ! designat$ b5efici>y ( su* acc\nt is a *ild1 /ep*ild1 gr&*ild1 or /epgr&*ild ( ! debtor44 7c7 ,record ( debtor's int]e/ ,section #eba7;c7 ( title #aa1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ 1 an int]e/ 9 an acc\nt 9 a qualifi$ ,,able program 7z def9$ 9 section #ebi;,a7b7 ( su* ,code1 aft] ,int]nal ,rev5ue ,code ( #aihf74 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply ) respect to cases comm5c$ "u title #aa1 ,unit$ ,/ates ,code1 on or aft] ! date ( ! enactm5t ( ?is ,act4 #aje4 ,inve/m5t direction rule = #ebi plans 7a7 ,am5dm5ts relat+ to inve/m5t direction rule = #ebi plans 7#a7 ,p>agraph 7#d7 ( section #ebi7;b7 is am5d$ by /rik+ may n directly or indirectly & all t foll[s & ins]t+ may1 directly or indirectly1 direct ! inve/m5t ( any contributions to ! program 7or any e>n+s !reon7 no m ?an #b times 9 any cal5d> ye>44 7#b7 ,! head+ ( p>agraph 7#d7 ( section #ebi7;b7is am5d$ by /rik+ ,no & ins]t+ ,limit$4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 ,,ii ,(fsets #bja4 ,correction to work]s comp5sation (fset age 7a7 ,retirem5t age ,section #bbd7;a7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #dbd;a7a77 is am5d$1 9 ! matt] prec$+ p>agraph 7#a71 by /rik+ ! age ( #fe & ins]t+ retirem5t age 7z def9$ 9 section #baf7l77#a774 7b7 ,effective date ,! am5dm5t made by subsection 7a7 %all apply ) respect to any individual :o atta9s #fe ye>s ( age on or aft] ! date t is #ab mon?s aft] ! date ( ! enactm5t ( ?is ,act4 #bjb4 ,accel]at$ application ( relative value t>gets = misvalu$ s]vices 9 ! ,m$ic>e physician fee s*$ule ,section #ahdh7;c7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #aciew-#d7;c77 is am5d$-- 7#a7 9 subclause 7,,viii7 ( p>agraph 7#b77;,b77v71 z add$ by section #bbj7;d77#b7 ( ! ,protect+ ,access to ,m$ic>e ,act ( #bjad 7,public ,law #aac-ic7-- 7,a7 by /rik+ #bjag & ins]t+ #bjaf2 & 7,b7 by r$esignat+ su* subclause z subclause 7,,ix72 7#b7 9 p>agraph 7#b77,o7-- 7,a7 9 ! matt] prec$+ clause 7i71 by /rik+ #bjag ?r\gh #bjbj & ins]t+ #bjaf ?r\gh #bjah2 7,b7 9 clause 7iii71 by /rik+ #bjag & ins]t+ #bjaf2 & 7,c7 9 clause 7v71 by ins]t+ 7or1 = #bjaf1 #a4j p]c5t7 aft] #j4e p]c5t2 & 7#c7 9 p>agraph 7#g71 by /rik+ #bjag & ins]t+ #bjaf4 #bjc4 ,consi/5t treatm5t ( vacuum erection sy/ems 9 ,m$ic>e ,p>ts ,b & ,d ,section #ahcd7;a77#a7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #aciem7a77#a77 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,i7 ,treatm5t ( vacuum erection sy/ems ,effective = items & s]vices furni%$ on & aft] ,july #a1 #bjae1 vacuum erection sy/ems describ$ z pro/hetic devices describ$ 9 section #ahfa7s77#h7 %all be treat$ 9 ! same mann] z erectile dysfunction drugs are treat$ = purposes ( section #ahfj;,d-#b7;e77#b77;,a74 4 #bjd4 ,"o-ye> delay ( implem5tation ( oral-only policy "u ,m$ic>e ,,esrd prospective paym5t sy/em ,section #fcb7;b77#a7 ( ! ,am]ican ,taxpay] ,relief ,act ( #bjab 7#db ,u4,s4,c4 #acierr note71 z am5d$ by section #bag7;a77#a7 ( ! ,protect+ ,access to ,m$ic>e ,act ( #bjad 7,public ,law #aac-ic71 is am5d$ by /rik+ #bjbd & ins]t+ #bjbe4 #bje4 ,modification relat+ to ,inl& ,wat]ways ,tru/ ,fund f9anc+ rate 7a7 ,9 g5]al ,section #djdb7;b77#b77;,a7 is am5d$ to read z foll[s3 7,a7 ,! ,inl& ,wat]ways ,tru/ ,fund f9anc+ rate is #bi c5ts p] gallon4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to fuel us$ aft] ,m>* #ca1 #bjae4 #bjf4 ,c]tifi$ pr(essional employ] organizations 7a7 ,employm5t taxes ,*apt] #be is am5d$ by add+ at ! end ! foll[+ new section3 #ceaa4 ,c]tifi$ pr(essional employ] organizations 7a7 ,g5]al rules ,= purposes ( ! taxes1 & o!r obligations1 impos$ by ?is subtitle-- 7#a7 a c]tifi$ pr(essional employ] organization %all be treat$ z ! employ] 7& no o!r p]son %all be treat$ z ! employ]7 ( any "w site employee p]=m+ s]vices = any cu/om] ( su* organization1 b only ) respect to remun]ation remitt$ by su* organization to su* "w site employee1 & 7#b7 ! exemptions1 exclusions1 def9itions1 & o!r rules :i* are bas$ on type ( employ] & :i* w\ld 7b = p>agraph 7#a77 apply %all apply ) respect to su* taxes impos$ on su* remun]ation4 7b7 ,successor employ] /atus ,= purposes ( sections #caba7;a77#a71 #cbca7;e77#b77;,c71 & #ccjf7;b77#a7-- 7#a7 a c]tifi$ pr(essional employ] organization ent]+ into a s]vice contract ) a cu/om] ) respect to a "w site employee %all be treat$ z a successor employ] & ! cu/om] %all be treat$ z a pr$ecessor employ] dur+ ! t]m ( su* s]vice contract1 & 7#b7 a cu/om] ^: s]vice contract ) a c]tifi$ pr(essional employ] organization is t]m9at$ ) respect to a "w site employee %all be treat$ z a successor employ] & ! c]tifi$ pr(essional employ] organization %all be treat$ z a pr$ecessor employ]4 7c7 ,liability ( c]tifi$ pr(essional employ] organization ,solely = purposes ( its liability = ! taxes & o!r obligations impos$ by ?is subtitle-- 7#a7 a c]tifi$ pr(essional employ] organization %all be treat$ z ! employ] ( any individual 7o!r ?an a "w site employee or a p]son describ$ 9 subsection 7f77 :o is p]=m+ s]vices cov]$ by a contract meet+ ! requirem5ts ( section #ggje7;e77#b71 b only ) respect to remun]ation remitt$ by su* organization to su* individual1 & 7#b7 ! exemptions1 exclusions1 def9itions1 & o!r rules :i* are bas$ on type ( employ] & :i* w\ld 7b = p>agraph 7#a77 apply %all apply ) respect to su* taxes impos$ on su* remun]ation4 7d7 ,treatm5t ( cr$its 7#a7 ,9 g5]al ,= purposes ( any cr$it specifi$ 9 p>agraph 7#b7-- 7,a7 su* cr$it ) respect to a "w site employee p]=m+ s]vices = ! cu/om] applies to ! cu/om]1 n ! c]tifi$ pr(essional employ] organization1 7,b7 ! cu/om]1 & n ! c]tifi$ pr(essional employ] organization1 %all take into acc\nt wages & employm5t taxes-- 7i7 paid by ! c]tifi$ pr(essional employ] organization ) respect to ! "w site employee1 & 7ii7 = :i* ! c]tifi$ pr(essional employ] organization receives paym5t f ! cu/om]1 & 7,c7 ! c]tifi$ pr(essional employ] organization %all furni% ! cu/om] & ! ,secret>y ) any in=mation necess>y = ! cu/om] to claim su* cr$it4 7#b7 ,cr$its specifi$ ,a cr$it is specifi$ 9 ?is p>agraph if su* cr$it is all[$ "u-- 7,a7 section #da 7cr$it = increas+ rese>* activity71 7,b7 section #de;,a 7,indian employm5t cr$it71 7,c7 section #de;,b 7cr$it = portion ( employ] social security taxes paid ) respect to employee ca% tips71 7,d7 section #de;,c 7cl9ical te/+ exp5ses = c]ta9 drugs = r>e diseases or conditions71 7,e7 section #de,r 7employee heal? insurance exp5ses ( small employ]s71 7,f7 section #ea 7"w opportunity cr$it71 7,g7 section #acif 7emp[]m5t zone employm5t cr$it71 & 7,h7 any o!r section z provid$ by ! ,secret>y4 7e7 ,special rule = relat$ p>ty ,?is section %all n apply 9 ! case ( a cu/om] :i* be>s a relation%ip to a c]tifi$ pr(essional employ] organization describ$ 9 section #bfg7;b7 or #gjg7;b74 ,= purposes ( ! prec$+ s5t5ce1 su* sections %all be appli$ by sub/itut+ #aj p]c5t = #ej p]c5t4 7f7 ,special rule = c]ta9 individuals ,= purposes ( ! taxes impos$ "u ?is subtitle1 an individual ) net e>n+s f self-employm5t d]iv$ f ! cu/om]'s trade or bus9ess 7includ+ a p>tn] 9 a p>tn]%ip t is a cu/om]7 is n a "w site employee ) respect to remun]ation paid by a c]tifi$ pr(essional employ] organization4 7g7 ,report+ requirem5ts & obligations ,! ,secret>y %all develop su* report+ & recordkeep+ rules1 regulations1 & proc$ures z ! ,secret>y det]m9es necess>y or appropriate to ensure compliance ) ?is title by c]tifi$ pr(essional employ] organizations or p]sons t h be5 s c]tifi$4 ,su* rules %all include-- 7#a7 notification ( ! ,secret>y 9 su* mann] z ! ,secret>y %all prescribe 9 ! case ( ! comm5cem5t or t]m9ation ( a s]vice contract describ$ 9 section #ggje7;e77#b7 betwe5 su* a p]son & a cu/om]1 & ! employ] id5tification numb] ( su* cu/om]1 7#b7 su* in=mation z ! ,secret>y det]m9es necess>y = ! cu/om] to claim ! cr$its id5tifi$ 9 subsection 7d7 & ! mann] 9 :i* su* in=mation is to be provid$1 z prescrib$ by ! ,secret>y1 & 7#c7 su* o!r in=mation z ! ,secret>y det]m9es is ess5tial to promote compliance ) respect to ! cr$its id5tifi$ 9 subsection 7d7 & section #ccjb1 & %all be design$ 9 a mann] :i* /reaml9es1 to ! ext5t possible1 ! application ( requirem5ts ( ?is section & section #ggje1 ! ex*ange ( in=mation betwe5 a c]tifi$ pr(essional employ] organization & its cu/om]s1 & ! report+ & recordkeep+ obligations ( ! c]tifi$ pr(essional employ] organization4 7h7 ,regulations ,! ,secret>y %all prescribe su* regulations z may be necess>y or appropriate to c>ry out ! purposes ( ?is section4 4 7b7 ,c]tifi$ pr(essional employ] organization def9$ ,*apt] #gi is am5d$ by add+ at ! end ! foll[+ new section3 #ggje4 ,c]tifi$ pr(essional employ] organizations 7a7 ,9 g5]al ,= purposes ( ?is title1 ! t]m c]tifi$ pr(essional employ] organization means a p]son :o applies to be treat$ z a c]tifi$ pr(essional employ] organization = purposes ( section #ceaa & has be5 c]tifi$ by ! ,secret>y z meet+ ! requirem5ts ( subsection 7b74 7b7 ,c]tification requirem5ts ,a p]son meets ! requirem5ts ( ?is subsection if su* p]son-- 7#a7 demon/rates t su* p]son 7& any own]1 (fic]1 & o!r p]sons z may be specifi$ 9 regulations7 meets su* requirem5ts z ! ,secret>y %all e/abli%1 includ+ requirem5ts ) respect to tax /atus1 backgr\nd1 exp]i5ce1 bus9ess location1 & annual f9ancial audits1 7#b7 agrees t x w satisfy ! bond & indep5d5t f9ancial review requirem5ts ( subsection 7c7 on an ongo+ basis1 7#c7 agrees t x w satisfy su* report+ obligations z may be impos$ by ! ,secret>y1 7#d7 computes its taxable income us+ an accrual me?od ( acc\nt+ unless ! ,secret>y approves ano!r me?od1 7#e7 agrees to v]ify on su* p]iodic basis z ! ,secret>y may prescribe t x cont9ues to meet ! requirem5ts ( ?is subsection1 & 7#f7 agrees to notify ! ,secret>y 9 writ+ )9 su* "t z ! ,secret>y may prescribe ( any *ange t mat]ially affects ! cont9u+ accuracy ( any agreem5t or in=mation t 0 previ\sly made or provid$ "u ?is subsection4 7c7 ,bond & indep5d5t f9ancial review 7#a7 ,9 g5]al ,an organization meets ! requirem5ts ( ?is p>agraph if su* organization-- 7,a7 meets ! bond requirem5ts ( p>agraph 7#b71 & 7,b7 meets ! indep5d5t f9ancial review requirem5ts ( p>agraph 7#c74 7#b7 ,bond 7,a7 ,9 g5]al ,a c]tifi$ pr(essional employ] organization meets ! requirem5ts ( ?is p>agraph if ! organization has po/$ a bond = ! paym5t ( taxes "u subtitle ,c 79 a =m acceptable to ! ,secret>y7 t is 9 an am\nt at lea/ equal to ! am\nt specifi$ 9 subp>agraph 7,b74 7,b7 ,am\nt ( bond ,= ! p]iod ,april #a ( any cal5d> ye> ?r\gh ,m>* #ca ( ! foll[+ cal5d> ye>1 ! am\nt ( ! bond requir$ is equal to ! great] (-- 7i7 #e p]c5t ( ! organization's liability "u section #ceaa = taxes impos$ by subtitle ,c dur+ ! prec$+ cal5d> ye> 7b n to exce$ #a1jjj1jjj71 or 7ii7 #ej1jjj4 7#c7 ,indep5d5t f9ancial review requirem5ts ,a c]tifi$ pr(essional employ] organization meets ! requirem5ts ( ?is p>agraph if su* organization-- 7,a7 has1 z ( ! mo/ rec5t audit date1 caus$ to be prep>$ & provid$ to ! ,secret>y 79 su* mann] z ! ,secret>y may prescribe7 an op9ion ( an indep5d5t c]tifi$ public acc\ntant z to :e!r ! c]tifi$ pr(essional employ] organization's f9ancial /atem5ts are pres5t$ fairly 9 accordance ) g5]ally accept$ acc\nt+ pr9ciples1 & 7,b7 provides to ! ,secret>y an ass]tion reg>d+ ,f$]al employm5t tax paym5ts & an exam9ation level atte/ation on su* ass]tion f an indep5d5t c]tifi$ public acc\ntant n lat] ?an ! la/ day ( ! second mon? beg9n+ aft] ! end ( ea* cal5d> qu>t]4 ,su* ass]tion %all /ate t ! organization has )held & made deposits ( all taxes impos$ by *apt]s #ba1 #bb1 & #bd 9 accordance ) regulations impos$ by ! ,secret>y = su* cal5d> qu>t] & su* exam9ation level atte/ation %all /ate t su* ass]tion is fairly /at$1 9 all mat]ial respects4 7#d7 ,controll$ gr\p rules ,= purposes ( ! requirem5ts ( p>agraphs 7#b7 & 7#c71 all c]tifi$ pr(essional employ] organizations t are memb]s ( a controll$ gr\p )9 ! mean+ ( sections #dad7;b7 & 7c7 %all be treat$ z a s+le organization4 7#e7 ,failure to file ass]tion & atte/ation ,if ! c]tifi$ pr(essional employ] organization fails to file ! ass]tion & atte/ation requir$ by p>agraph 7#c7 ) respect to any cal5d> qu>t]1 !n ! requirem5ts ( p>agraph 7#c7 ) respect to su* failure %all be treat$ z n satisfi$ = ! p]iod beg9n+ on ! due date = su* atte/ation4 7#f7 ,audit date ,= purposes ( p>agraph 7#c77;,a71 ! audit date %all be six mon?s aft] ! completion ( ! organization's fiscal ye>4 7d7 ,susp5sion & revocation au?ority ,! ,secret>y may susp5d or revoke a c]tification ( any p]son "u subsection 7b7 = purposes ( section #ceaa if ! ,secret>y det]m9es t su* p]son is n satisfy+ ! agreem5ts or requirem5ts ( subsections 7b7 or 7c71 or fails to satisfy applicable acc\nt+1 report+1 paym5t1 or deposit requirem5ts4 7e7 ,"w site employee ,= purposes ( ?is title-- 7#a7 ,9 g5]al ,! t]m "w site employee means1 ) respect to a c]tifi$ pr(essional employ] organization1 an individual :o-- 7,a7 p]=ms s]vices = a cu/om] pursuant to a contract :i* is betwe5 su* cu/om] & ! c]tifi$ pr(essional employ] organization & :i* meets ! requirem5ts ( p>agraph 7#b71 & 7,b7 p]=ms s]vices at a "w site meet+ ! requirem5ts ( p>agraph 7#c74 7#b7 ,s]vice contract requirem5ts ,a contract meets ! requirem5ts ( ?is p>agraph ) respect to an individual p]=m+ s]vices = a cu/om] if su* contract is 9 writ+ & provides t ! c]tifi$ pr(essional employ] organization %all-- 7,a7 assume responsibility = paym5t ( wages to su* individual1 )\t reg>d to ! receipt or adequacy ( paym5t f ! cu/om] = su* s]vices1 7,b7 assume responsibility = report+1 )hold+1 & pay+ any applicable taxes "u subtitle ,c1 ) respect to su* individual's wages1 )\t reg>d to ! receipt or adequacy ( paym5t f ! cu/om] = su* s]vices1 7,c7 assume responsibility = any employee b5efits :i* ! s]vice contract may require ! c]tifi$ pr(essional employ] organization to provide1 )\t reg>d to ! receipt or adequacy ( paym5t f ! cu/om] = su* b5efits1 7,d7 assume responsibility = recruit+1 hir+1 & fir+ work]s 9 addition to ! cu/om]'s responsibility = recruit+1 hir+1 & fir+ work]s1 7,e7 ma9ta9 employee records relat+ to su* individual1 & 7,f7 agree to be treat$ z a c]tifi$ pr(essional employ] organization = purposes ( section #ceaa ) respect to su* individual4 7#c7 ,"w site cov]age requirem5t ,! requirem5ts ( ?is p>agraph are met ) respect to an individual if at lea/ #he p]c5t ( ! individuals p]=m+ s]vices = ! cu/om] at ! "w site :]e su* individual p]=ms s]vices are subject to #a or m contracts ) ! c]tifi$ pr(essional employ] organization :i* meet ! requirem5ts ( p>agraph 7#b7 7b n tak+ into acc\nt ^? individuals :o are exclud$ employees )9 ! mean+ ( section #dad7q77#e774 7f7 ,public disclosure ,! ,secret>y %all make available to ! public ! "n & address (-- 7#a7 ea* p]son c]tifi$ z a pr(essional employ] organization "u subsection 7a71 & 7#b7 ea* p]son ^: c]tification z a pr(essional employ] organization is susp5d$ or revok$ "u subsection 7d74 7g7 ,det]m9ation ( employm5t /atus ,except to ! ext5t necess>y = purposes ( section #ceaa1 no?+ 9 ?is section %all be con/ru$ to affect ! det]m9ation ( :o is an employee or employ] = purposes ( ?is title4 7h7 ,regulations ,! ,secret>y %all prescribe su* regulations z may be necess>y or appropriate to c>ry out ! purposes ( ?is section4 4 7c7 ,con=m+ am5dm5ts 7#a7 ,section #ccjb is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,treatm5t ( c]tifi$ pr(essional employ] organizations ,if a c]tifi$ pr(essional employ] organization 7z def9$ 9 section #ggje71 or a cu/om] ( su* organization1 makes a contribution to ! ,/ate's unemploym5t fund ) respect to wages paid to a "w site employee1 su* c]tifi$ pr(essional employ] organization %all be eligible = ! cr$its available "u ?is section ) respect to su* contribution4 4 7#b7 ,section #ccjc7;a7 is am5d$-- 7,a7 by /rik+ ! p]iod at ! end ( p>agraph 7#c7 & ins]t+ 2 & & by ins]t+ aft] p>agraph 7#c7 ! foll[+ new p>agraph3 7#d7 if ! taxpay] is a c]tifi$ pr(essional employ] organization 7z def9$ 9 section #ggje7 t is treat$ z ! employ] "u section #ceaa1 su* c]tifi$ pr(essional employ] organization is p]mitt$ to collect & remit1 9 accordance ) p>agraphs 7#a71 7#b71 & 7#c71 contributions dur+ ! taxable ye> to ! ,/ate unemploym5t fund ) respect to a "w site employee4 1 & 7,b7 9 ! la/ s5t5ce-- 7i7 by /rik+ p>agraphs 7#a71 7#b71 & 7#c7 & ins]t+ p>agraphs 7#a71 7#b71 7#c71 & 7#d71 & 7ii7 by /rik+ p>agraph 7#a71 7#b71 or 7#c7 & ins]t+ p>agraph 7#a71 7#b71 7#c71 or 7#d74 7#c7 ,section #fjec7;c7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#h7 ,c]tifi$ pr(essional employ] organizations ,= purposes ( any report requir$ by ?is subsection1 9 ! case ( a c]tifi$ pr(essional employ] organization t is treat$ "u section #ceaa z ! employ] ( a "w site employee1 ! cu/om] ) respect to :om a "w site employee p]=ms s]vices %all be ! employ] = purposes ( report+ "u ?is section & ! c]tifi$ pr(essional employ] organization %all furni% to ! cu/om] & ! ,secret>y any in=mation ! ,secret>y prescribes z necess>y to complete su* report+ no lat] ?an su* "t z ! ,secret>y %all prescribe4 4 7#d7 ,section #ffeb is am5d$ by add+ at ! end ! foll[+ new subsection3 7n7 ,failure to make reports requir$ "u sections #ceaa1 #fjec7;c77#h71 & #ggje ,9 ! case ( a failure to make a report requir$ "u section #ceaa1 #fjec7;c77#h71 or #ggje :i* conta9s ! in=mation requir$ by su* section on ! date prescrib$ !re= 7det]m9$ ) reg>d to any ext5sion ( "t = fil+71 !re %all be paid 7on notice & dem& by ! ,secret>y & 9 ! same mann] z tax7 by ! p]son fail+ to make su* report1 an am\nt equal to #ej = ea* report ) respect to :i* !re 0 su* a failure4 ,9 ! case ( any failure due to neglig5ce or int5tional disreg>d ! prec$+ s5t5ce %all be appli$ by sub/itut+ #ajj = #ej4 4 7d7 ,cl]ical am5dm5ts 7#a7 ,! table ( sections = *apt] #be is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #ceaa4 ,c]tifi$ pr(essional employ] organizations4 4 7#b7 ,! table ( sections = *apt] #gi is am5d$ by ins]t+ aft] ! item relat+ to section #ggjd ! foll[+ new item3 ,sec4 #ggje4 ,c]tifi$ pr(essional employ] organizations4 4 7f7 ,us] fees ,section #gebh7;b7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#d7 ,c]tifi$ pr(essional employ] organizations ,! fee *>g$ "u ! program 9 connection ) ! c]tification by ! ,secret>y ( a pr(essional employ] organization "u section #ggje %all be an annual fee n to exce$ #a1jjj p] ye>4 4 7g7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5ts made by ?is section %all apply ) respect to wages = s]vices p]=m$ on or aft] ,janu>y #a ( ! fir/ cal5d> ye> beg9n+ m ?an #ab mon?s aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,c]tification program ,! ,secret>y ( ! ,treasury %all e/abli% ! c]tification program describ$ 9 section #ggje7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z add$ by subsection 7b71 n lat] ?an #f mon?s be=e ! effective date det]m9$ "u p>agraph 7#a74 7h7 ,no inf]5ce ,no?+ conta9$ 9 ?is section or ! am5dm5ts made by ?is section %all be con/ru$ to create any inf]5ce ) respect to ! det]m9ation ( :o is an employee or employ]-- 7#a7 = ,f$]al tax purposes 7o!r ?an ! purposes set =? 9 ! am5dm5ts made by ?is section71 or 7#b7 = purposes ( any o!r provision ( law4 #bjg4 ,exclusion ( divid5ds f controll$ =eign corporations f ! def9ition ( p]sonal hold+ company income = purposes ( ! p]sonal hold+ company rules 7a7 ,9 g5]al ,section #edc7;a77#a7 is am5d$-- 7#a7 by r$esignat+ subp>agraphs 7,c7 & 7,d7 z subp>agraphs 7,d7 & 7,e71 respectively1 & 7#b7 by ins]t+ aft] subp>agraph 7,b7 ! foll[+3 7,c7 divid5ds receiv$ by a ,unit$ ,/ates %>ehold] 7z def9$ 9 section #iea7;b77 f a controll$ =eign corporation 7z def9$ 9 section #ieg7;a771 4 7b7 ,effective date ,! am5dm5ts made by ?is ,act %all apply to taxable ye>s end+ on or aft] ! date ( ! enactm5t ( ?is ,act4 #bjh4 ,inflation adju/m5t = c]ta9 civil p5alties "u ! ,int]nal ,rev5ue ,code ( #aihf 7a7 ,failure to file tax return or pay tax ,section #ffea is am5d$ by add+ at ! end ! foll[+ new subsection3 7i7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ! #ace doll> am\nt "u subsection 7a7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u p>agraph 7#a7 is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7b7 ,failure to file c]ta9 in=mation returns1 regi/ration /atem5ts1 etc 7#a7 ,9 g5]al ,section #ffeb7;c7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#f7 ,adju/m5t = inflation 7,a7 ,9 g5]al ,9 ! case ( any failure relat+ to a return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ea* ( ! doll> am\nts "u p>agraphs 7#a71 7#b71 & 7#c7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7,b7 ,r\nd+ ,if any am\nt adju/$ "u subp>agraph 7,a7-- 7i7 is n less ?an #e1jjj & is n a multiple ( #ejj1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #ejj1 & 7ii7 is n describ$ 9 clause 7i7 & is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7#b7 ,con=m+ am5dm5ts 7,a7 ,! la/ s5t5ce ( section #ffeb7;c77#a77;,a7 is am5d$ by /rik+ ! fir/ s5t5ce ( ?is subp>agraph %all be appli$ by sub/itut+ #ajj = #bj & & ins]t+ 9 apply+ ! fir/ s5t5ce ( ?is subp>agraph1 ! am\nt ( ! p5alty = ea* day dur+ :i* a failure cont9ues %all be #ajj 9 lieu ( ! am\nt o!rwise specifi$1 &4 7,b7 ,section #ffeb7;c77#b77;,c77ii7 is am5d$ by /rik+ ! fir/ s5t5ce ( p>agraph 7#a77;,a7 & all t foll[s & ins]t+ 9 apply+ ! fir/ s5t5ce ( p>agraph 7#a77;,a71 ! am\nt ( ! p5alty = ea* day dur+ :i* a failure cont9ues %all be #ajj 9 lieu ( ! am\nt o!rwise specifi$1 & 9 lieu ( apply+ ! second s5t5ce ( p>agraph 7#a77;,a71 ! maximum p5alty "u p>agraph 7#a77;,a7 %all n exce$ #ej1jjj1 &4 7c7 ,o!r assessable p5alties ) respect to ! prep>ation ( tax returns = o!r p]sons ,section #ffie is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any failure relat+ to a return or claim = refund fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ea* ( ! doll> am\nts "u subsections 7a71 7b71 7c71 7d71 7e71 7f71 & 7g7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u subp>agraph 7,a7-- 7,a7 is n less ?an #e1jjj & is n a multiple ( #ejj1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #ejj1 & 7,b7 is n describ$ 9 clause 7i7 & is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7d7 ,failure to file p>tn]%ip return ,section #ffih is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ! #aie doll> am\nt "u subsection 7b77#a7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u p>agraph 7#a7 is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7e7 ,failure to file ,s corporation return ,section #ffii is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ! #aie doll> am\nt "u subsection 7b77#a7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u p>agraph 7#a7 is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7f7 ,failure to file correct in=mation returns ,section #fgba7;f77#a7 is am5d$ by /rik+ ,= ea* fif? cal5d> ye> beg9n+ aft] #bjab & ins]t+ ,9 ! case ( any failure relat+ to a return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad4 7g7 ,failure to furni% correct payee /atem5ts ,section #fgbb7;f77#a7 is am5d$ by /rik+ ,= ea* fif? cal5d> ye> beg9n+ aft] #bjab & ins]t+ ,9 ! case ( any failure relat+ to a /atem5t requir$ to be furni%$ 9 a cal5d> ye> beg9n+ aft] #bjad4 7h7 ,effective date ,! am5dm5ts made by ?is section %all apply to returns requir$ to be fil$ aft] ,decemb] #ca1 #bjad4 #bji4 ,increase 9 cont9u\s levy 7a7 ,9 g5]al ,p>agraph 7#c7 ( section #fcca7;h7 is am5d$ by /rik+ ! p]iod at ! end & ins]t+ & by sub/itut+ #cj p]c5t = #ae p]c5t 9 ! case ( any specifi$ paym5t due to a ,m$ic>e provid] or suppli] "u title ,,xviii ( ! ,social ,security ,act44 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to paym5ts made aft] #ahj days aft] ! date ( ! enactm5t ( ?is ,act4 ,pass$ ! ,h\se ( ,repres5tatives ,decemb] #c1 #bjad4;,cl]k4