,,ii ,cal5d> ,no4 #cdi #aah? ,,congress #b;d ,session ,h4 ,r4 #gjbd ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,febru>y #a1 #bjbd,receiv$ ,m>* #bj1 #bjbd ,read ! fir/ "t ,m>* #ba1 #bjbd,read ! second "t & plac$ on ! cal5d> ,,an ,,act ,to make improvem5ts to ! *ild tax cr$it1 to provide tax inc5tives to promote economic gr[?1 to provide special rules = ! taxation ( c]ta9 resid5ts ( ,taiwan ) income f s\rces )9 ! ,unit$ ,/ates1 to provide tax relief ) respect to c]ta9 ,f$]al disa/]s1 to make improvem5ts to ! l[-income h\s+ tax cr$it1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts2 etc 7a7 ,%ort title ,?is ,act may be cit$ z ! ,tax ,relief = ,am]ican ,families & ,work]s ,act ( #bjbd4 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 ,sec4 #a4 ,%ort title2 table ( cont5ts2 etc4,title ,i--,tax ,relief = ,work+ ,families,sec4 #aja4 ,p]-*ild calculation ( refundable portion ( *ild tax cr$it4,sec4 #ajb4 ,increase 9 refundable portion4,sec4 #ajc4 ,inflation ( cr$it am\nt4,sec4 #ajd4 ,rule = det]m9ation ( e>n$ income4,sec4 #aje4 ,special rule = c]ta9 e>ly-fil$ #bjbc returns4,title ,,ii--,am]ican ,innovation & ,growth,sec4 #bja4 ,d$uction = dome/ic rese>* & exp]im5tal exp5ditures4,sec4 #bjb4 ,ext5sion ( all[ance = depreciation1 amortization1 or depletion 9 det]m9+ ! limitation on bus9ess int]e/4,sec4 #bjc4 ,ext5sion ( #ajj p]c5t bonus depreciation4,sec4 #bjd4 ,increase 9 limitations on exp5s+ ( depreciable bus9ess assets4,title ,,iii--,increas+ ,global ,competitiveness,subtitle ,a--,unit$ ,/ates-,taiwan ,exp$it$ ,d\ble-,tax ,relief ,act,sec4 #cja4 ,%ort title4,sec4 #cjb4 ,special rules = taxation ( c]ta9 resid5ts ( ,taiwan4,subtitle ,b--,unit$ ,/ates-,taiwan ,tax ,agreem5t ,au?orization ,act,sec4 #caa4 ,%ort title4,sec4 #cab4 ,def9itions4,sec4 #cac4 ,au?orization to negotiate & ent] into agreem5t4,sec4 #cad4 ,consultations ) ,congress4,sec4 #cae4 ,approval & implem5tation ( agreem5t4,sec4 #caf4 ,submission to ,congress ( agreem5t & implem5tation policy4,sec4 #cag4 ,consid]ation ( approval legislation & implem5t+ legislation4,sec4 #cah4 ,relation%ip ( agreem5t to ,int]nal ,rev5ue ,code ( #aihf4,sec4 #cai4 ,au?orization ( subsequ5t tax agreem5ts relative to ,taiwan4,sec4 #cbj4 ,unit$ ,/ates treatm5t ( d\ble taxation matt]s ) respect to ,taiwan4,title ,,iv--,assi/ance = ,disa/]-,impact$ ,communities,sec4 #dja4 ,%ort title4,sec4 #djb4 ,ext5sion ( rules = treatm5t ( c]ta9 disa/]-relat$ p]sonal casualty losses4,sec4 #djc4 ,exclusion f gross income = comp5sation = losses or damages result+ f c]ta9 wildfires4,sec4 #djd4 ,ea/ ,pale/9e disa/] relief paym5ts4,title ,v--,m ,af=dable housing,sec4 #eja4 ,/ate h\s+ cr$it ceil+ increase = l[-income h\s+ cr$it4,sec4 #ejb4 ,tax-exempt bond f9anc+ requirem5t4,title ,,vi--,tax ,adm9i/ration & ,elim9at+ ,fraud,sec4 #fja4 ,increase 9 ?re%old = requir+ in=mation report+ ) respect to c]ta9 payees4,sec4 #fjb4 ,en=cem5t provisions ) respect to ,,covid-relat$ employee ret5tion cr$its4 ,i ,tax ,relief = ,work+ ,families #aja4 ,p]-*ild calculation ( refundable portion ( *ild tax cr$it 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #bd7;h77#e7 is am5d$ to read z foll[s3 7,a7 ,9 g5]al ,9 apply+ subsection 7d7-- 7i7 ! am\nt det]m9$ "u p>agraph 7#a77;,a7 ( su* subsection ) respect to any qualify+ *ild %all n exce$ #a1djj1 & su* p>agraph %all be appli$ )\t reg>d to p>agraph 7#d7 ( ?is subsection1 & 7ii7 p>agraph 7#a77;,b7 ( su* subsection %all be appli$ by multiply+ ea* (-- 7,i7 ! am\nt det]m9$ "u clause 7i7 !re(1 & 7,,ii7 ! excess det]m9$ "u clause 7ii7 !re(1 by ! numb] ( qualify+ *ildr5 ( ! taxpay]4 4 7b7 ,con=m+ am5dm5t ,! head+ ( p>agraph 7#e7 ( section #bd7;h7 is am5d$ by /rik+ ,maximum am\nt ( & ins]t+ ,special rules =4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4 #ajb4 ,increase 9 refundable portion 7a7 ,9 g5]al ,p>agraph 7#e7 ( section #bd7;h7 is am5d$ by r$esignat+ subp>agraph 7,b7 z subp>agraph 7,c7 & by ins]t+ aft] subp>agraph 7,a7 ! foll[+ new subp>agraph3 7,b7 ,am\nts = #bjbc1 #bjbd1 & #bjbe ,9 ! case ( a taxable ye> beg9n+ aft] #bjbb1 subp>agraph 7,a7 %all be appli$ by sub/itut+ = #a1djj-- 7i7 9 ! case ( taxable ye> #bjbc1 #a1hjj1 7ii7 9 ! case ( taxable ye> #bjbd1 #a1ijj1 & 7iii7 9 ! case ( taxable ye> #bjbe1 #b1jjj4 4 7b7 ,con=m+ am5dm5t ,subp>agraph 7,c7 ( section #bd7;h77#e71 z r$esignat$ by subsection 7a71 is am5d$ by ins]t+ & be=e #bjbc aft] #bjah4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4 #ajc4 ,inflation ( cr$it am\nt 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #bd7;h7 is am5d$-- 7#a7 by /rik+ am\nt4--,subsection & ins]t+ 8am\nt4-- 7,a7 ,9 g5]al ,subsection 1 & 7#b7 by add+ at ! end ! foll[+ new subp>agraph3 7,b7 ,adju/m5t = inflation ,9 ! case ( a taxable ye> beg9n+ aft] #bjbc1 ! #b1jjj am\nts 9 subp>agraph 7,a7 & p>agraph 7#e77;,b77iii7 %all ea* be increas$ by an am\nt equal to-- 7i7 su* doll> am\nt1 multipli$ by 7ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 det]m9$ by sub/itut+ #bjbb = #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if any increase "u ?is clause is n a multiple ( #ajj1 su* increase %all be r\nd$ to ! next l[e/ multiple ( #ajj4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbc4 #ajd4 ,rule = det]m9ation ( e>n$ income 7a7 ,9 g5]al ,p>agraph 7#f7 ( section #bd7;h7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ cr$it4--,subsection & ins]t+ 8cr$it4-- 7,a7 ,9 g5]al ,subsection 1 & 7#b7 by add+ at ! end ! foll[+ new subp>agraphs 7,b7 ,rule = det]m9ation ( e>n$ income 7i7 ,9 g5]al ,9 ! case ( a taxable ye> beg9n+ aft] #bjbc1 if ! e>n$ income ( ! taxpay] = su* taxable ye> is less ?an ! e>n$ income ( ! taxpay] = ! prec$+ taxable ye>1 subsection 7d77#a77;,b77i7 may1 at ! election ( ! taxpay]1 be appli$ by sub/itut+-- 7,i7 ! e>n$ income = su* prec$+ taxable ye>1 = 7,,ii7 ! e>n$ income = ! curr5t taxable ye>4 7ii7 ,application to jo9t returns ,= purposes ( clause 7i71 9 ! case ( a jo9t return1 ! e>n$ income ( ! taxpay] = ! prec$+ taxable ye> %all be ! sum ( ! e>n$ income ( ea* sp\se = su* prec$+ taxable ye>4 4 7b7 ,errors treat$ z ma!matical errors ,p>agraph 7#b7 ( section #fbac7;g7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ & at ! end ( subp>agraph 7,u71 by /rik+ ! p]iod at ! end ( subp>agraph 7,v7 & ins]t+ 1 &1 & by ins]t+ aft] subp>agraph 7,v7 ! foll[+ new subp>agraph3 7,w7 9 ! case ( a taxpay] elect+ ! application ( section #bd7;h77#f77;,b7 = any taxable ye>1 an entry on a return ( e>n$ income pursuant to su* section :i* is inconsi/5t ) ! am\nt ( su* e>n$ income det]m9$ by ! ,secret>y = ! prec$+ taxable ye>4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbc4 #aje4 ,special rule = c]ta9 e>ly-fil$ #bjbc returns ,9 ! case ( an individual :o claims1 on ! taxpay]'s return ( tax = ! fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjbb1 a cr$it "u section #bd ( ! ,int]nal ,rev5ue ,code ( #aihf :i* is det]m9$ )\t reg>d to ! am5dm5ts made by sections #aja & #ajb ( ?is ,act1 ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all1 to ! maximum ext5t practicable-- 7#a7 r$et]m9e ! am\nt ( su* cr$it 7aft] tak+ into acc\nt su* am5dm5ts7 on ! basis ( ! in=mation provid$ by ! taxpay] on su* return1 & 7#b7 to ! ext5t t su* r$et]m9ation results 9 an ov]paym5t ( tax1 cr$it or refund su* ov]paym5t z exp$iti\sly z possible4 ,,ii ,am]ican ,innovation & ,gr[? #bja4 ,d$uction = dome/ic rese>* & exp]im5tal exp5ditures 7a7 ,delay ( amortization ( dome/ic rese>* & exp]im5tal exp5ditures ,section #agd is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,susp5sion ( application ( section to dome/ic rese>* & exp]im5tal exp5ditures ,9 ! case ( any dome/ic rese>* or exp]im5tal exp5ditures 7z def9$ 9 section #agd;,a7b771 ?is section-- 7#a7 %all apply to su* exp5ditures paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe1 & 7#b7 %all n apply to su* exp5ditures paid or incurr$ 9 taxable ye>s beg9n+ on or be=e su* date4 4 7b7 ,re9/atem5t ( exp5s+ = dome/ic rese>* & exp]im5tal exp5ditures ,"p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ aft] section #agd ! foll[+ new section3 #agd;,a4 ,tempor>y rules = dome/ic rese>* & exp]im5tal exp5ditures 7a7 ,treatm5t z exp5ses ,not)/&+ section #bfc1 !re %all be all[$ z a d$uction any dome/ic rese>* or exp]im5tal exp5ditures :i* are paid or incurr$ by ! taxpay] dur+ ! taxable ye>4 7b7 ,dome/ic rese>* or exp]im5tal exp5ditures ,= purposes ( ?is section1 ! t]m dome/ic rese>* or exp]im5tal exp5ditures means rese>* or exp]im5tal exp5ditures paid or incurr$ by ! taxpay] 9 connection ) ! taxpay]'s trade or bus9ess o!r ?an su* exp5ditures :i* are attributable to =eign rese>* 7)9 ! mean+ ( section #da7;d77#d77;,f774 7c7 ,amortization ( c]ta9 dome/ic rese>* & exp]im5tal exp5ditures 7#a7 ,9 g5]al ,at ! election ( ! taxpay]1 made 9 accordance ) regulations or o!r guidance provid$ by ! ,secret>y1 9 ! case ( dome/ic rese>* or exp]im5tal exp5ditures :i* w\ld 7b = subsection 7a77 be *>geable to capital acc\nt b n *>geable to prop]ty ( a "* :i* is subject to ! all[ance "u section #afg 7relat+ to all[ance = depreciation1 etc47 or section #faa 7relat+ to all[ance = depletion71 subsection 7a7 %all n apply & ! taxpay] %all-- 7,a7 *>ge su* exp5ditures to capital acc\nt1 & 7,b7 be all[$ an amortization d$uction ( su* exp5ditures ratably ov] su* p]iod ( n less ?an #fj mon?s z may be select$ by ! taxpay] 7beg9n+ ) ! mon? 9 :i* ! taxpay] fir/ realizes b5efits f su* exp5ditures74 7#b7 ,"t = & scope ( election ,! election provid$ by p>agraph 7#a7 may be made = any taxable ye>1 b only if made n lat] ?an ! "t prescrib$ by law = fil+ ! return = su* taxable ye> 7includ+ ext5sions !re(74 ,! me?od s elect$1 & ! p]iod select$ by ! taxpay]1 %all be adh]$ to 9 comput+ taxable income = ! taxable ye> = :i* ! election is made & = all subsequ5t taxable ye>s unless1 ) ! approval ( ! ,secret>y1 a *ange to a diff]5t me?od 7or to a diff]5t p]iod7 is au?oriz$ ) respect to "p or all ( su* exp5ditures4 ,! election %all n apply to any exp5diture paid or incurr$ dur+ any taxable ye> be=e ! taxable ye> = :i* ! taxpay] makes ! election4 7d7 ,election to capitalize exp5ses ,9 ! case ( a taxpay] :i* elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is subsection1 subsections 7a7 & 7c7 %all n apply & dome/ic rese>* or exp]im5tal exp5ditures %all be *>geable to capital acc\nt4 ,su* election %all n apply to any exp5diture paid or incurr$ dur+ any taxable ye> be=e ! taxable ye> = :i* ! taxpay] makes ! election & may be made ) respect to "p ( ! exp5ditures paid or incurr$ dur+ any taxable ye> only ) ! approval ( ! ,secret>y4 7e7 ,special rules 7#a7 ,l& & o!r prop]ty ,?is section %all n apply to any exp5diture = ! acquisition or improvem5t ( l&1 or = ! acquisition or improvem5t ( prop]ty to be us$ 9 connection ) ! rese>* or exp]im5tation & ( a "* :i* is subject to ! all[ance "u section #afg 7relat+ to all[ance = depreciation1 etc47 or section #faa 7relat+ to all[ance = depletion72 b = purposes ( ?is section all[ances "u section #afg1 & all[ances "u section #faa1 %all be consid]$ z exp5ditures4 7#b7 ,exploration exp5ditures ,?is section %all n apply to any exp5diture paid or incurr$ = ! purpose ( asc]ta9+ ! exi/5ce1 location1 ext5t1 or quality ( any deposit ( ore or o!r m9]al 7includ+ oil & gas74 7#c7 ,s(tw>e developm5t ,= purposes ( ?is section1 any am\nt paid or incurr$ 9 connection ) ! developm5t ( any s(tw>e %all be treat$ z a rese>* or exp]im5tal exp5diture4 7f7 ,t]m9ation 7#a7 ,9 g5]al ,?is section %all n apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 7#b7 ,*ange 9 me?od ( acc\nt+ ,9 ! case ( a taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjbe1 p>agraph 7#a7 7& ! correspond+ application ( section #agd7 %all be treat$ z a *ange 9 me?od ( acc\nt+ = purposes ( section #dha &-- 7,a7 su* *ange %all be treat$ z initiat$ by ! taxpay]1 7,b7 su* *ange %all be treat$ z made ) ! cons5t ( ! ,secret>y1 & 7,c7 su* *ange %all be appli$ only on a cut-(f basis = any dome/ic rese>* or exp]im5tal exp5ditures paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe1 & no adju/m5t "u section #dha7;a7 %all be made4 4 7c7 ,coord9ation ) c]ta9 o!r provisions 7#a7 ,rese>* cr$it 7,a7 ,section #da7;d77#a77;,a7 is am5d$ by ins]t+ or dome/ic rese>* or exp]im5tal exp5ditures "u section #agd;,a aft] section #agd4 7,b7 ,section #bhj;,c7c77#a7 is am5d$ to read z foll[s3 7#a7 ,9 g5]al ,! dome/ic rese>* or exp]im5tal exp5ditures o!rwise tak5 into acc\nt "u section #agd or #agd;,a 7z ! case may be7 %all be r$uc$ by ! am\nt ( ! cr$it all[$ "u section #da7;a74 4 7#b7 ,,amt adju/m5t ,section #ef7;b77#b7 is am5d$ by /rik+ #agd7;a7 ea* place x appe>s & ins]t+ #agd;,a7a74 7#c7 ,optional #aj-ye> write(f ,section #ei7;e77#b77;,b7 is am5d$ by /rik+ section #agd7;a7 7relat+ to rese>* & exp]im5tal exp5ditures7 & ins]t+ section #agd;,a7a7 7relat+ to tempor>y rules = dome/ic rese>* & exp]im5tal exp5ditures74 7#d7 ,qualifi$ small issue bonds ,section #add7;a77#d77;,c77iv7 is am5d$ by /rik+ #agd7;a7 & ins]t+ #agd;,a7a74 7#e7 ,/>t-up exp5ditures ,section #aie7;c77#a7 is am5d$ by /rik+ or #agd 9 ! la/ s5t5ce & ins]t+ #agd1 or #agd;,a4 7#f7 ,capital exp5ditures 7,a7 ,section #bfc7;a77#a77;,b7 is am5d$ by ins]t+ or #agd;,a aft] #agd4 7,b7 ,section #bfc;,a7c77#b7 is am5d$ by ins]t+ or #agd;,a aft] #agd4 7#g7 ,active bus9ess comput] s(tw>e royalties ,section #edc7;d77#d77;,a77i7 is am5d$ by ins]t+ #agd;,a1 aft] #agd14 7#h7 ,s\rce rules ,section #hfd7;g77#b7 is am5d$ 9 ! la/ s5t5ce-- 7,a7 by /rik+ treat$ z def]r$ exp5ses "u subsection 7b7 ( section #agd & ins]t+ all[$ z an amortization d$uction "u section #agd7;a7 or section #agd;,a7c711 & 7,b7 by /rik+ su* subsection & ins]t+ su* section 7z ! case may be74 7#i7 ,basis adju/m5t ,section #ajaf7;a77#ad7 is am5d$ by /rik+ d$uctions z def]r$ exp5ses "u section #agd7;b77#a7 7relat+ to rese>* & exp]im5tal exp5ditures7 & ins]t+ d$uctions "u section #agd or #agd;,a4 7#aj7 ,small bus9ess /ock ,section #abjb7;e77#b77;,b7 is am5d$ by /rik+ rese>* & exp]im5tal exp5ditures "u section #agd & ins]t+ specifi$ rese>* or exp]im5tal exp5ditures "u section #agd or dome/ic rese>* or exp]im5tal exp5ditures "u section #agd;,a4 7d7 ,con=m+ am5dm5ts 7#a7 ,section #acbjf ( ,public ,law #aae-ig is am5d$ by /rik+ subsection 7b7 7relat+ to *ange 9 me?od ( acc\nt+74 7#b7 ,! table ( sections = "p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #agd ! foll[+ new item3 ,sec4 #agd;,a4 ,tempor>y rules = dome/ic rese>* & exp]im5tal exp5ditures4 4 7e7 ,effective date 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5ts made by ?is section %all apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjba4 7#b7 ,coord9ation ) rese>* cr$it ,! am5dm5t made by subsection 7c77#a77;,b7 %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4 7#c7 ,repeal ( sup]c$$ *ange 9 me?od ( acc\nt+ rules ,! am5dm5t made by subsection 7d77#a7 %all take effect z if includ$ 9 ,public ,law #aae-ig4 7#d7 ,no inf]5ce ) respect to coord9ation ) rese>* cr$it = prior p]iods ,! am5dm5t made by subsection 7c77#a77;,b7 %all n be con/ru$ to create any inf]5ce ) respect to ! prop] application ( section #bhj;,c7c7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to taxable ye>s beg9n+ be=e ,janu>y #a1 #bjbc4 7f7 ,transition rules 7#a7 ,9 g5]al ,except z o!rwise provid$ by ! ,secret>y1 an election made "u subsection 7c7 or 7d7 ( section #agd;,a ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by ?is section7 = ! taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 %all n fail to be treat$ z timely made 7or z made on ! return7 if made dur+ ! #a-ye> p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act on an am5d$ return = ! taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 or 9 su* o!r mann] z ! ,secret>y may provide4 7#b7 ,election reg>d+ treatm5t z *ange 9 me?od ( acc\nt+ ,9 ! case ( any taxpay] :i* 7z ( ! date ( ! enactm5t ( ?is ,act7 _h adopt$ a me?od ( acc\nt+ provid$ by section #agd ( ! ,int]nal ,rev5ue ,code ( #aihf 7z 9 effect prior to ! am5dm5ts made by ?is section7 = ! taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 & elects ! application ( ?is p>agraph-- 7,a7 ! am5dm5ts made by ?is section %all be treat$ z a *ange 9 me?od ( acc\nt+ = purposes ( section #dha ( su* ,code1 7,b7 su* *ange %all be treat$ z initiat$ by ! taxpay] = ! taxpay]'s imm$iately succe$+ taxable ye>1 7,c7 su* *ange %all be treat$ z made ) ! cons5t ( ! ,secret>y1 7,d7 su* *ange %all be appli$ on a modifi$ cut-(f basis1 tak+ into acc\nt = purposes ( section #dha7;a7 ( su* ,code only ! dome/ic rese>* or exp]im5tal exp5ditures 7z def9$ 9 section #agd;,a7b7 ( su* ,code 7z add$ by ?is section7 & det]m9$ by apply+ ! rules ( section #agd;,a7e7 ( su* ,code7 paid or incurr$ 9 ! taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 & n all[$ z a d$uction 9 su* taxable ye>1 & 7,e7 9 ! case ( a taxpay] :i* elects ! application ( ?is subp>agraph1 ! am\nt ( su* *ange 7z det]m9$ "u subp>agraph 7,d77 %all be tak5 into acc\nt ratably ov] ! #b-taxable-ye> p]iod beg9n+ ) ! taxable ye> ref]r$ to 9 subp>agraph 7,b74 7#c7 ,election reg>d+ #aj-ye> write(f 7,a7 ,9 g5]al ,except z o!rwise provid$ by ! ,secret>y1 an eligible taxpay] :i* files1 dur+ ! #a-ye> p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act1 an am5d$ income tax return = ! taxable ye> describ$ 9 subp>agraph 7,b77ii7 may elect ! application ( section #ei7;e7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to qualifi$ exp5ditures describ$ 9 section #ei7;e77#b77;,b7 ( su* ,code 7z am5d$ by subsection 7c77#c77 ) respect to su* taxable ye>4 ,su* election %all be fil$ ) su* am5d$ income tax return & %all be effective only to ! ext5t t su* election w\ld h be5 effective if fil$ ) ! orig9al income tax return = su* taxable ye> 7det]m9$ aft] tak+ into acc\nt ! am5dm5t made by subsection 7c77#c774 7,b7 ,eligible taxpay] ,= purposes ( subp>agraph 7,a71 ! t]m eligible taxpay] means any taxpay] :i*-- 7i7 does n elect ! application ( p>agraph 7#b71 & 7ii7 fil$ an income tax return = su* taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 be=e ! e>li] (-- 7,i7 ! due date = su* return1 & 7,,ii7 ! date ( ! enactm5t ( ?is ,act4 7#d7 ,election reg>d+ coord9ation ) rese>* cr$it ,except z o!rwise provid$ by ! ,secret>y1 an eligible taxpay] 7z def9$ 9 p>agraph 7#c77;,b7 )\t reg>d to clause 7i7 !re(7 :i* files1 dur+ ! #a-ye> p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act1 an am5d$ income tax return = ! taxpay]'s fir/ taxable ye> beg9n+ aft] ,decemb] #ca1 #bjba1 may1 not)/&+ subp>agraph 7,c7 ( section #bhj;,c7c77#b7 ( ! ,int]nal ,rev5ue ,code ( #aihf make1 or revoke1 on su* am5d$ return ! election "u su* section = su* taxable ye>4 #bjb4 ,ext5sion ( all[ance = depreciation1 amortization1 or depletion 9 det]m9+ ! limitation on bus9ess int]e/ 7a7 ,9 g5]al ,section #afc7;j77#h77;,a77v7 is am5d$ by /rik+ ,janu>y #a1 #bjbb & ins]t+ ,janu>y #a1 #bjbf4 7b7 ,effective date 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbc4 7#b7 ,election to apply ext5sion retroactively ,9 ! case ( a taxpay] :i* elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is p>agraph1 p>agraph 7#a7 %all be appli$ by sub/itut+ ,decemb] #ca1 #bjba = ,decemb] #ca1 #bjbc4 #bjc4 ,ext5sion ( #ajj p]c5t bonus depreciation 7a7 ,9 g5]al ,section #afh7k77#f77;,a7 is am5d$-- 7#a7 9 clause 7i7-- 7,a7 by /rik+ #bjbc & ins]t+ #bjbf1 & 7,b7 by add+ & at ! end1 & 7#b7 by /rik+ clauses 7ii71 7iii71 & 7iv71 & r$esignat+ clause 7v7 z clause 7ii74 7b7 ,prop]ty ) long] production p]iods ,section #afh7k77#f77;,b7 is am5d$-- 7#a7 9 clause 7i7-- 7,a7 by /rik+ #bjbd & ins]t+ #bjbg1 & 7,b7 by add+ & at ! end1 & 7#b7 by /rik+ clauses 7ii71 7iii71 & 7iv71 & r$esignat+ clause 7v7 z clause 7ii74 7c7 ,plants be>+ fruits & nuts ,section #afh7k77#f77;,c7 is am5d$-- 7#a7 9 clause 7i7-- 7,a7 by /rik+ #bjbc & ins]t+ #bjbf1 & 7,b7 by add+ & at ! end1 & 7#b7 by /rik+ clauses 7ii71 7iii71 & 7iv71 & r$esignat+ clause 7v7 z clause 7ii74 7d7 ,effective dates 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjbb4 7#b7 ,plants be>+ fruits & nuts ,! am5dm5ts made by subsection 7c7 %all apply to specifi$ plants plant$ or graft$ aft] ,decemb] #ca1 #bjbb4 #bjd4 ,increase 9 limitations on exp5s+ ( depreciable bus9ess assets 7a7 ,9 g5]al ,section #agi7;b7 is am5d$-- 7#a7 by /rik+ #a1jjj1jjj 9 p>agraph 7#a7 & ins]t+ #a1bij1jjj1 & 7#b7 by /rik+ #b1ejj1jjj 9 p>agraph 7#b7 & ins]t+ #c1bbj1jjj4 7b7 ,inflation adju/m5t ,section #agi7;b77#f7 is am5d$-- 7#a7 by /rik+ #bjah & ins]t+ #bjbd 7#bjah 9 ! case ( ! doll> am\nt 9 p>agraph 7#e77;,a771 & 7#b7 by /rik+ #8cal5d> ye> #bjag & ins]t+ cal5d> ye> #bjbd 7cal5d> ye> #bjag 9 ! case ( ! doll> am\nt 9 p>agraph 7#e77;,a774 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbc4 ,,iii ,increas+ ,global ,competitiv5ess ,a ,unit$ ,/ates-,taiwan ,exp$it$ ,d\ble-,tax ,relief ,act #cja4 ,%ort title ,?is subtitle may be cit$ z ! ,unit$ ,/ates-,taiwan ,exp$it$ ,d\ble-,tax ,relief ,act4 #cjb4 ,special rules = taxation ( c]ta9 resid5ts ( ,taiwan 7a7 ,9 g5]al ,subp>t ,d ( "p ,,ii ( sub*apt] ,n ( *apt] #a is am5d$ by ins]t+ aft] section #hid ! foll[+ new section3 #hid;,a4 ,special rules = qualifi$ resid5ts ( ,taiwan 7a7 ,c]ta9 income f ,unit$ ,/ates s\rces 7#a7 ,int]e/1 divid5ds1 & royalties1 etc 7,a7 ,9 g5]al ,9 ! case ( int]e/ 7o!r ?an orig9al issue disc\nt71 divid5ds1 royalties1 am\nts describ$ 9 section #hga7;a77#a77;,c71 & ga9s describ$ 9 section #hga7;a77#a77;,d7 receiv$ by or paid to a qualifi$ resid5t ( ,taiwan-- 7i7 sections #hga7;a71 #hha7;a71 #adda7;a71 #adda7;c77#e71 & #addb7;a7 %all ea* be appli$ by sub/itut+ ! applicable p]c5tage 7z def9$ 9 section #hid;,a7a77#a77;,c77 = #cj p]c5t ea* place x appe>s1 & 7ii7 sections #hga7;a71 #hha7;a71 & #adda7;c77#a7 %all ea* be appli$ by sub/itut+ a ,unit$ ,/ates p]man5t e/abli%m5t ( a qualifi$ resid5t ( ,taiwan = a trade or bus9ess )9 ! ,unit$ ,/ates ea* place x appe>s4 7,b7 ,exceptions 7i7 ,9 g5]al ,subp>agraph 7,a7 %all n apply to-- 7,i7 any divid5d receiv$ f or paid by a real e/ate inve/m5t tru/ :i* is n a qualifi$ ,,reit divid5d1 7,,ii7 any am\nt subject to section #hig1 7,,iii7 any am\nt receiv$ f or paid by an expatriat$ entity 7z def9$ 9 section #ghgd7;a77#b77 to a =eign relat$ p]son 7z def9$ 9 section #ghgd7;d77#c771 & 7,,iv7 any am\nt :i* is includ$ 9 income "u section #hfj;,c to ! ext5t t su* am\nt does n exce$ an excess inclusion ) respect to a ,,remic4 7ii7 ,qualifi$ ,,reit divid5d ,= purposes ( clause 7i77,i71 ! t]m qualifi$ ,,reit divid5d means any divid5d receiv$ f or paid by a real e/ate inve/m5t tru/ if su* divid5d is paid ) respect to a class ( %>es t is publicly trad$ & ! recipi5t ( ! divid5d is a p]son :o holds an int]e/ 9 any class ( %>es ( ! real e/ate inve/m5t tru/ ( n m ?an #e p]c5t4 7,c7 ,applicable p]c5tage ,= purposes ( apply+ subp>agraph 7,a77i7-- 7i7 ,9 g5]al ,except z provid$ 9 clause 7ii71 ! t]m applicable p]c5tage means #aj p]c5t4 7ii7 ,special rules = divid5ds ,9 ! case ( any divid5d 9 respect ( /ock receiv$ by or paid to a qualifi$ resid5t ( ,taiwan1 ! applicable p]c5tage %all be #ae p]c5t 7#aj p]c5t 9 ! case ( a divid5d :i* meets ! requirem5ts ( subp>agraph 7,d7 & is receiv$ by or paid to an entity tax$ z a corporation 9 ,taiwan74 7,d7 ,requirem5ts = l[] divid5d rate 7i7 ,9 g5]al ,! requirem5ts ( ?is subp>agraph are met ) respect to any divid5d 9 respect ( /ock 9 a corporation if1 at all times dur+ ! #ab-mon? p]iod end+ on ! date su* /ock becomes ex-divid5d ) respect to su* divid5d-- 7,i7 ! divid5d is d]iv$ by a qualifi$ resid5t ( ,taiwan1 & 7,,ii7 su* qualifi$ resid5t ( ,taiwan has held directly at lea/ #aj p]c5t 7by vote & value7 ( ! total out/&+ %>es ( /ock 9 su* corporation4 ,= purposes ( subclause 7,,ii71 a p]son %all be treat$ z directly hold+ a %>e ( /ock dur+ any p]iod describ$ 9 ! prec$+ s5t5ce if ! %>e 0 held by a corporation f :i* su* p]son lat] acquir$ t %>e & su* corporation 01 at ! "t ! %>e 0 acquir$1 bo? a connect$ p]son to su* p]son & a qualifi$ resid5t ( ,taiwan4 7ii7 ,exception = ,r,i,cs & ,r,e,i,ts ,not)/&+ clause 7i71 ! requirem5ts ( ?is subp>agraph %all n be treat$ z met ) respect to any divid5d paid by a regulat$ inve/m5t company or a real e/ate inve/m5t tru/4 7#b7 ,qualifi$ wages 7,a7 ,9 g5]al ,no tax %all be impos$ "u ?is *apt] 7& no am\nt %all be )held "u section #adda7;a7 or *apt] #bd7 ) respect to qualifi$ wages paid to a qualifi$ resid5t ( ,taiwan :o-- 7i7 is n a resid5t ( ! ,unit$ ,/ates 7det]m9$ )\t reg>d to subsection 7c77#c77;,e771 or 7ii7 is employ$ z a memb] ( ! regul> compon5t ( a %ip or aircraft op]at$ 9 int]national traffic4 7,b7 ,qualifi$ wages 7i7 ,9 g5]al ,! t]m qualifi$ wages means wages1 sal>ies1 or simil> remun]ations ) respect to employm5t involv+ ! p]=mance ( p]sonal s]vices )9 ! ,unit$ ,/ates :i*-- 7,i7 are paid by 7or on behalf (7 any employ] o!r ?an a ,unit$ ,/ates p]son1 & 7,,ii7 are n borne by a ,unit$ ,/ates p]man5t e/abli%m5t ( any p]son o!r ?an a ,unit$ ,/ates p]son4 7ii7 ,exceptions ,su* t]m %all n include directors' fees1 income d]iv$ z an ent]ta9] or a?lete1 income d]iv$ z a /ud5t or tra9ee1 p5sions1 am\nts paid ) respect to employm5t ) ! ,unit$ ,/ates1 any ,/ate 7or political subdivision !re(71 or any possession ( ! ,unit$ ,/ates 7or any political subdivision !re(71 or o!r am\nts specifi$ 9 regulations or guidance "u subsection 7f77#a77;,f74 7#c7 ,income d]iv$ f ent]ta9m5t or a?letic activities 7,a7 ,9 g5]al ,no tax %all be impos$ "u ?is *apt] 7& no am\nt %all be )held "u section #adda7;a7 or *apt] #bd7 ) respect to income d]iv$ by an ent]ta9] or a?lete :o is a qualifi$ resid5t ( ,taiwan f p]sonal activities z su* p]=m$ 9 ! ,unit$ ,/ates if ! aggregate am\nt ( gross receipts f su* activities = ! taxable ye> d n exce$ #cj1jjj4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply ) respect to-- 7i7 income :i* is qualifi$ wages 7z def9$ 9 p>agraph 7#b77;,b71 det]m9$ )\t reg>d to clause 7ii7 !re(71 or 7ii7 income :i* is effectively connect$ ) a ,unit$ ,/ates p]man5t e/abli%m5t4 7b7 ,income connect$ ) a ,unit$ ,/ates p]man5t e/abli%m5t ( a qualifi$ resid5t ( ,taiwan 7#a7 ,9 g5]al 7,a7 ,9 g5]al ,9 lieu ( apply+ sections #hga7;b7 & #hhb1 a qualifi$ resid5t ( ,taiwan t c>ries on a trade or bus9ess )9 ! ,unit$ ,/ates ?r\gh a ,unit$ ,/ates p]man5t e/abli%m5t %all be taxable z provid$ 9 section #a1 #aa1 #ee1 or #ei;,a1 on its taxable income :i* is effectively connect$ ) su* p]man5t e/abli%m5t4 7,b7 ,det]m9ation ( taxable income ,9 det]m9+ taxable income = purposes ( p>agraph 7#a71 gross income includes only gross income :i* is effectively connect$ ) ! p]man5t e/abli%m5t4 7#b7 ,treatm5t ( dispositions ( ,unit$ ,/ates real prop]ty ,9 ! case ( a qualifi$ resid5t ( ,taiwan1 section #hig7;a7 %all be appli$-- 7,a7 by sub/itut+ c>ri$ on a trade or bus9ess )9 ! ,unit$ ,/ates ?r\gh a ,unit$ ,/ates p]man5t e/abli%m5t = 7 engag$ 9 a trade or bus9ess )9 ! ,unit$ ,/ates1 & 7,b7 by sub/itut+ su* ,unit$ ,/ates p]man5t e/abli%m5t = su* trade or bus9ess4 7#c7 ,treatm5t ( bran* pr(its taxes ,9 ! case ( any corporation :i* is a qualifi$ resid5t ( ,taiwan1 section #hhd %all be appli$-- 7,a7 by sub/itut+ #aj p]c5t = #cj p]c5t 9 subsection 7a7 !re(1 & 7,b7 by sub/itut+ a ,unit$ ,/ates p]man5t e/abli%m5t ( a qualifi$ resid5t ( ,taiwan = ! conduct ( a trade or bus9ess )9 ! ,unit$ ,/ates 9 subsection 7d77#a7 !re(4 7#d7 ,special rule ) respect to income d]iv$ f c]ta9 ent]ta9m5t or a?letic activities 7,a7 ,9 g5]al ,p>agraph 7#a7 %all n apply to ! ext5t t ! income is d]iv$-- 7i7 9 respect ( ent]ta9m5t or a?letic activities p]=m$ 9 ! ,unit$ ,/ates1 & 7ii7 by a qualifi$ resid5t ( ,taiwan :o is n ! ent]ta9] or a?lete p]=m+ su* activities4 7,b7 ,exception ,subp>agraph 7,a7 %all n apply if ! p]son describ$ 9 subp>agraph 7,a77ii7 is contractually au?oriz$ to designate ! individual :o is to p]=m su* activities4 7#e7 ,special rule ) respect to c]ta9 am\nts ,p>agraph 7#a7 %all n apply to any income :i* is wages1 sal>ies1 or simil> remun]ation ) respect to employm5t or ) respect to any am\nt :i* is describ$ 9 subsection 7a77#b77;,b77ii74 7c7 ,qualifi$ resid5t ( ,taiwan ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ resid5t ( ,taiwan means any p]son :o-- 7,a7 is liable to tax "u ! laws ( ,taiwan by reason ( su* p]son's domicile1 resid5ce1 place ( managem5t1 place ( incorporation1 or any simil> crit]ion1 7,b7 is n a ,unit$ ,/ates p]son 7det]m9$ )\t reg>d to p>agraph 7#c77;,e771 & 7,c7 9 ! case ( an entity tax$ z a corporation 9 ,taiwan1 meets ! requirem5ts ( p>agraph 7#b74 7#b7 ,limitation on b5efits = corporate entities ( ,taiwan 7,a7 ,9 g5]al ,subject to subp>agraphs 7,e7 & 7,f71 an entity meets ! requirem5ts ( ?is p>agraph only if x-- 7i7 meets ! own]%ip & income requirem5ts ( subp>agraph 7,b71 7ii7 meets ! publicly trad$ requirem5ts ( subp>agraph 7,c71 or 7iii7 meets ! qualifi$ subsidi>y requirem5ts ( subp>agraph 7,d74 7,b7 ,own]%ip & income requirem5ts ,! requirem5ts ( ?is subp>agraph are met = an entity if-- 7i7 at lea/ #ej p]c5t 7by vote & value7 ( ! total out/&+ %>es ( /ock 9 su* entity are own$ directly or indirectly by qualifi$ resid5ts ( ,taiwan1 & 7ii7 less ?an #ej p]c5t ( su* entity's gross income 7& 9 ! case ( an entity t is a memb] ( a te/$ gr\p1 less ?an #ej p]c5t ( ! te/$ gr\p's gross income7 is paid or accru$1 directly or indirectly1 9 ! =m ( paym5ts t are d$uctible = purposes ( ! income taxes impos$ by ,taiwan1 to p]sons :o are n-- 7,i7 qualifi$ resid5ts ( ,taiwan1 or 7,,ii7 ,unit$ ,/ates p]sons :o meet su* requirem5ts ) respect to ! ,unit$ ,/ates z det]m9$ by ! ,secret>y to be equival5t to ! requirem5ts ( ?is subsection 7det]m9$ )\t reg>d to p>agraph 7#a77;,b77 ) respect to resid5ts ( ,taiwan4 7,c7 ,publicly trad$ requirem5ts ,an entity meets ! requirem5ts ( ?is subp>agraph if-- 7i7 ! pr9cipal class ( its %>es 7& any disproportionate class ( %>es7 ( su* entity are prim>ily & regul>ly trad$ on an e/abli%$ securities m>ket 9 ,taiwan1 or 7ii7 ! prim>y place ( managem5t & control ( ! entity is 9 ,taiwan & all classes ( its out/&+ %>es describ$ 9 clause 7i7 are regul>ly trad$ on an e/abli%$ securities m>ket 9 ,taiwan4 7,d7 ,qualifi$ subsidi>y requirem5ts ,an entity meets ! requirem5t ( ?is subp>agraph if-- 7i7 at lea/ #ej p]c5t 7by vote & value7 ( ! total out/&+ %>es ( ! /ock ( su* entity are own$ directly or indirectly by #e or few] entities-- 7,i7 :i* meet ! requirem5ts ( subp>agraph 7,c71 or 7,,ii7 :i* are ,unit$ ,/ates p]sons ! pr9cipal class ( ! %>es 7& any disproportionate class ( %>es7 ( :i* are prim>ily & regul>ly trad$ on an e/abli%$ securities m>ket 9 ! ,unit$ ,/ates1 & 7ii7 ! entity meets ! requirem5ts ( clause 7ii7 ( subp>agraph 7,b74 7,e7 ,only indirect own]%ip ?r\gh qualify+ int]m$i>ies c\nt$ 7i7 ,9 g5]al ,/ock 9 an entity own$ by a p]son indirectly ?r\gh #a or m o!r p]sons %all n be treat$ z own$ by su* p]son 9 det]m9+ :e!r ! p]son meets ! requirem5ts ( subp>agraph 7,b77i7 or 7,d77i7 unless all su* o!r p]sons are qualify+ int]m$iate own]s4 7ii7 ,qualify+ int]m$iate own]s ,! t]m qualify+ int]m$iate own] means a p]son t is-- 7,i7 a qualifi$ resid5t ( ,taiwan1 or 7,,ii7 a resid5t ( any o!r =eign c\ntry 7o!r ?an a =eign c\ntry t is a =eign c\ntry ( conc]n7 t has 9 effect a compreh5sive conv5tion ) ! ,unit$ ,/ates = ! avoidance ( d\ble taxation4 7iii7 ,special rule = qualifi$ subsidi>ies ,= purposes ( apply+ subp>agraph 7,d77i71 ! t]m qualify+ int]m$iate own] %all include any p]son :o is a ,unit$ ,/ates p]son :o meets su* requirem5ts ) respect to ! ,unit$ ,/ates z det]m9$ by ! ,secret>y to be equival5t to ! requirem5ts ( ?is subsection 7det]m9$ )\t reg>d to p>agraph 7#a77;,b77 ) respect to resid5ts ( ,taiwan4 7,f7 ,c]ta9 paym5ts n includ$ ,9 det]m9+ :e!r ! requirem5ts ( subp>agraph 7,b77ii7 or 7,d77ii7 are met ) respect to an entity1 ! foll[+ paym5ts %all n be tak5 into acc\nt3 7i7 ,arm's-l5g? paym5ts by ! entity 9 ! ord9>y c\rse ( bus9ess = s]vices or tangible prop]ty4 7ii7 ,9 ! case ( a te/$ gr\p1 intra-gr\p transactions4 7#c7 ,dual resid5ts 7,a7 ,rules = det]m9ation ( /atus 7i7 ,9 g5]al ,an individual :o is an applicable dual resid5t & :o is describ$ 9 subp>agraph 7,b71 7,c71 or 7,d7 %all be treat$ z a qualifi$ resid5t ( ,taiwan4 7ii7 ,applicable dual resid5t ,= purposes ( ?is p>agraph1 ! t]m applicable dual resid5t means an individual :o-- 7,i7 is n a ,unit$ ,/ates citiz51 7,,ii7 is a resid5t ( ! ,unit$ ,/ates 7det]m9$ )\t reg>d to subp>agraph 7,e771 & 7,,iii7 w\ld be a qualifi$ resid5t ( ,taiwan b = p>agraph 7#a77;,b74 7,b7 ,p]man5t home ,an individual is describ$ 9 ?is subp>agraph if su* individual-- 7i7 has a p]man5t home available to su* individual 9 ,taiwan1 & 7ii7 does n h a p]man5t home available to su* individual 9 ! ,unit$ ,/ates4 7,c7 ,c5t] ( vital int]e/s ,an individual is describ$ 9 ?is subp>agraph if-- 7i7 su* individual has a p]man5t home available to su* individual 9 bo? ,taiwan & ! ,unit$ ,/ates1 & 7ii7 su* individual's p]sonal & economic relations 7c5t] ( vital int]e/s7 are clos] to ,taiwan ?an to ! ,unit$ ,/ates4 7,d7 ,habitual abode ,an individual is describ$ 9 ?is subp>agraph if-- 7i7 su* individual-- 7,i7 does n h a p]man5t home available to su* individual 9 ei!r ,taiwan or ! ,unit$ ,/ates1 or 7,,ii7 has a p]man5t home available to su* individual 9 bo? ,taiwan & ! ,unit$ ,/ates b su* individual's c5t] ( vital int]e/s "u subp>agraph 7,c77ii7 _c be det]m9$1 & 7ii7 su* individual has a habitual abode 9 ,taiwan & n ! ,unit$ ,/ates4 7,e7 ,unit$ ,/ates tax treatm5t ( qualifi$ resid5t ( ,taiwan ,not)/&+ section #ggja1 an individual :o is treat$ z a qualifi$ resid5t ( ,taiwan by reason ( ?is p>agraph = all or any portion ( a taxable ye> %all n be treat$ z a resid5t ( ! ,unit$ ,/ates = purposes ( comput+ su* individual's ,unit$ ,/ates income tax liability = su* taxable ye> or portion !re(4 7#d7 ,rules ( special application 7,a7 ,divid5ds ,= purposes ( apply+ ?is section to any divid5d1 p>agraph 7#b77;,d7 %all be appli$ )\t reg>d to clause 7ii7 !re(4 7,b7 ,items ( income emanat+ f an active trade or bus9ess 9 ,taiwan ,= purposes ( ?is section-- 7i7 ,9 g5]al ,not)/&+ ! prec$+ p>agraphs ( ?is subsection1 if an entity tax$ z a corporation 9 ,taiwan is n a qualifi$ resid5t ( ,taiwan b meets ! requirem5ts ( subp>agraphs 7,a7 & 7,b7 ( p>agraph 7#a71 any qualifi$ item ( income su* entity d]iv$ f ! ,unit$ ,/ates %all be treat$ z income ( a qualifi$ resid5t ( ,taiwan4 7ii7 ,qualifi$ items ( income 7,i7 ,9 g5]al ,! t]m qualifi$ item ( income means any item ( income :i* emanates f1 or is incid5tal to1 ! conduct ( an active trade or bus9ess 9 ,taiwan 7o!r ?an op]at+ z a hold+ company1 provid+ ov]all sup]vision or adm9i/ration ( a gr\p ( companies1 provid+ gr\p f9anc+1 or mak+ or manag+ inve/m5ts 7unless su* mak+ or manag+ inve/m5ts is c>ri$ on by a bank1 insurance company1 or regi/]$ securities deal] 9 ! ord9>y c\rse ( its bus9ess z su*774 7,,ii7 ,sub/antial activity requirem5t ,an item ( income :i* is d]iv$ f a trade or bus9ess conduct$ 9 ! ,unit$ ,/ates or f a connect$ p]son %all be a qualifi$ item ( income only if ! trade or bus9ess activity conduct$ 9 ,taiwan to :i* ! item is relat$ is sub/antial 9 relation to ! same or a complem5t>y trade or bus9ess activity c>ri$ on 9 ! ,unit$ ,/ates4 ,= purposes ( apply+ ?is subclause1 activities conduct$ by p]sons t are connect$ to ! entity describ$ 9 clause 7i7 %all be deem$ to be conduct$ by su* entity4 7iii7 ,exception ,?is subp>agraph %all n apply to any item ( income d]iv$ by an entity if at lea/ #ej p]c5t 7by vote or value7 ( su* entity is own$ 7directly or indirectly7 or controll$ by resid5ts ( a =eign c\ntry ( conc]n4 7d7 ,o!r def9itions & special rules ,= purposes ( ?is section-- 7#a7 ,unit$ ,/ates p]man5t e/abli%m5t 7,a7 ,9 g5]al ,! t]m ,unit$ ,/ates p]man5t e/abli%m5t means1 ) respect to a qualifi$ resid5t ( ,taiwan1 a p]man5t e/abli%m5t ( su* resid5t :i* is )9 ! ,unit$ ,/ates4 7,b7 ,special rule ,! det]m9ation ( :e!r !re is a p]man5t e/abli%m5t ( a qualifi$ resid5t ( ,taiwan )9 ! ,unit$ ,/ates %all be made )\t reg>d to :e!r an entity :i* is tax$ z a corporation 9 ,taiwan & :i* is a qualifi$ resid5t ( ,taiwan controls or is controll$ by-- 7i7 a dome/ic corporation1 or 7ii7 any o!r p]son t c>ries on bus9ess 9 ! ,unit$ ,/ates 7:e!r ?r\gh a p]man5t e/abli%m5t or o!rwise74 7#b7 ,p]man5t e/abli%m5t 7,a7 ,9 g5]al ,! t]m p]man5t e/abli%m5t means a fix$ place ( bus9ess ?r\gh :i* a trade or bus9ess is :olly or p>tly c>ri$ on4 ,su* t]m %all include-- 7i7 a place ( managem5t1 7ii7 a bran*1 7iii7 an (fice1 7iv7 a factory1 7v7 a work%op1 & 7vi7 a m9e1 an oil or gas well1 a qu>ry1 or any o!r place ( extraction ( natural res\rces4 7,b7 ,special rules = c]ta9 tempor>y projects 7i7 ,9 g5]al ,a build+ site or con/ruction or in/allation project1 or an in/allation or drill+ rig or %ip us$ = ! exploration or exploitation ( ! sea b$ & its subsoil & _! natural res\rces1 con/itutes a p]man5t e/abli%m5t only if x la/s1 or ! activities ( ! rig or %ip la/s1 = m ?an #ab mon?s4 7ii7 ,det]m9ation ( #ab-mon? p]iod ,= purposes ( clause 7i71 ! p]iod ov] :i* a build+ site or con/ruction or in/allation project ( a p]son la/s %all include any p]iod ( m ?an #cj days dur+ :i* su* p]son does n c>ry on activities at su* build+ site or con/ruction or in/allation project b connect$ activities are c>ri$ on at su* build+ site or con/ruction or in/allation project by "o or m connect$ p]sons4 7,c7 ,habitual ex]cise ( contract au?ority treat$ z p]man5t e/abli%m5t ,not)/&+ subp>agraphs 7,a7 & 7,b71 :]e a p]son 7o!r ?an an ag5t ( an indep5d5t /atus to :om subp>agraph 7,d77ii7 applies7 is act+ on behalf ( a trade or bus9ess ( a qualifi$ resid5t ( ,taiwan & has & habitually ex]cises an au?ority to conclude contracts t are b9d+ on ! trade or bus9ess1 t trade or bus9ess %all be deem$ to h a p]man5t e/abli%m5t 9 ! c\ntry 9 :i* su* au?ority is ex]cis$ 9 respect ( any activities t ! p]son und]takes = ! trade or bus9ess1 unless ! activities ( su* p]son are limit$ to ^? describ$ 9 subp>agraph 7,d77i7 t1 if ex]cis$ ?r\gh a fix$ place ( bus9ess1 w\ld n make ?is fix$ place ( bus9ess a p]man5t e/abli%m5t "u ! provisions ( t subp>agraph4 7,d7 ,exclusions 7i7 ,9 g5]al ,not)/&+ subp>agraphs 7,a7 & 7,b71 ! t]m p]man5t e/abli%m5t %all n include-- 7,i7 ! use ( facilities solely = ! purpose ( /orage1 display1 or deliv]y ( goods or m]*&ise belong+ to ! trade or bus9ess1 7,,ii7 ! ma9t5ance ( a /ock ( goods or m]*&ise belong+ to ! trade or bus9ess solely = ! purpose ( /orage1 display1 or deliv]y1 7,,iii7 ! ma9t5ance ( a /ock ( goods or m]*&ise belong+ to ! trade or bus9ess solely = ! purpose ( process+ by ano!r trade or bus9ess1 7,,iv7 ! ma9t5ance ( a fix$ place ( bus9ess solely = ! purpose ( pur*as+ goods or m]*&ise1 or ( collect+ in=mation1 = ! trade or bus9ess1 7,v7 ! ma9t5ance ( a fix$ place ( bus9ess solely = ! purpose ( c>ry+ on1 = ! trade or bus9ess1 any o!r activity ( a prep>atory or auxili>y "*1 or 7,,vi7 ! ma9t5ance ( a fix$ place ( bus9ess solely = any comb9ation ( ! activities m5tion$ 9 subclauses 7,i7 ?r\gh 7,v71 provid$ t ! ov]all activity ( ! fix$ place ( bus9ess result+ f ?is comb9ation is ( a prep>atory or auxili>y "*4 7ii7 ,brok]s & o!r indep5d5t ag5ts ,a trade or bus9ess %all n be consid]$ to h a p]man5t e/abli%m5t 9 a c\ntry m]ely because x c>ries on bus9ess 9 su* c\ntry ?r\gh a brok]1 g5]al commission ag5t1 or any o!r ag5t ( an indep5d5t /atus1 provid$ t su* p]sons are act+ 9 ! ord9>y c\rse ( _! bus9ess z indep5d5t ag5ts4 7#c7 ,te/$ gr\p ,! t]m te/$ gr\p includes1 ) respect to any entity tax$ z a corporation 9 ,taiwan1 su* entity & any o!r entity tax$ z a corporation 9 ,taiwan t-- 7,a7 p>ticipates z a memb] ) su* entity 9 a tax consolidation1 fiscal unity1 or simil> regime t requires memb]s ( ! gr\p to %>e pr(its or losses1 or 7,b7 %>es losses ) su* entity pursuant to a gr\p relief or o!r loss %>+ regime4 7#d7 ,connect$ p]son ,two p]sons %all be connect$ p]sons if "o owns1 directly or indirectly1 at lea/ #ej p]c5t ( ! int]e/s 9 ! o!r 7or1 9 ! case ( a corporation1 at lea/ #ej p]c5t ( ! aggregate vote & value ( ! corporation's %>es7 or ano!r p]son owns1 directly or indirectly1 at lea/ #ej p]c5t ( ! int]e/s 7or1 9 ! case ( a corporation1 at lea/ #ej p]c5t ( ! aggregate vote & value ( ! corporation's %>es7 9 ea* p]son4 ,9 any case1 a p]son %all be connect$ to ano!r if1 bas$ on all ! relevant facts & circum/ances1 "o has control ( ! o!r or bo? are "u ! control ( ! same p]son or p]sons4 7#e7 ,=eign c\ntry ( conc]n ,! t]m =eign c\ntry ( conc]n has ! mean+ giv5 su* t]m "u p>agraph 7#g7 ( section #iija ( ! ,william ,m4 7,mac7 ,?ornb]ry ,national ,def5se ,au?orization ,act = ,fiscal ,ye> #bjba 7#ae ,u4,s4,c4 #dfea7g771 z add$ by section #ajc7;a77#d7 ( ! ,,*ips ,act ( #bjbb74 7#f7 ,p>tn]%ips2 b5efici>ies ( e/ates & tru/s ,= purposes ( ?is section-- 7,a7 a qualifi$ resid5t ( ,taiwan :i* is a p>tn] ( a p>tn]%ip :i* c>ries on a trade or bus9ess )9 ! ,unit$ ,/ates ?r\gh a ,unit$ ,/ates p]man5t e/abli%m5t %all be treat$ z c>ry+ on su* trade or bus9ess ?r\gh su* p]man5t e/abli%m5t1 & 7,b7 a qualifi$ resid5t ( ,taiwan :i* is a b5efici>y ( an e/ate or tru/ :i* c>ries on a trade or bus9ess )9 ! ,unit$ ,/ates ?r\gh a ,unit$ ,/ates p]man5t e/abli%m5t %all be treat$ z c>ry+ on su* trade or bus9ess ?r\gh su* p]man5t e/abli%m5t4 7#g7 ,d5ial ( b5efits = c]ta9 paym5ts ?r\gh hybrid entities ,= purposes ( ?is section1 rules simil> to ! rules ( section #hid7;c7 %all apply4 7e7 ,application 7#a7 ,9 g5]al ,?is section %all n apply to any p]iod unless ! ,secret>y has det]m9$ t ,taiwan has provid$ b5efits to ,unit$ ,/ates p]sons = su* p]iod t are reciprocal to ! b5efits provid$ to qualifi$ resid5ts ( ,taiwan "u ?is section4 7#b7 ,provision ( reciprocity ,! ,presid5t or 8 designee is au?oriz$ to ex*ange lett]s1 ent] into an agreem5t1 or take o!r necess>y & appropriate /eps relative to ,taiwan = ! reciprocal provision ( ! b5efits describ$ 9 ?is section4 7f7 ,regulations or o!r guidance 7#a7 ,9 g5]al ,! ,secret>y %all issue su* regulations or o!r guidance z may be necess>y or appropriate to c>ry out ! provisions ( ?is section1 includ+ su* regulations or guidance =-- 7,a7 det]m9+-- 7i7 :at con/itutes a ,unit$ ,/ates p]man5t e/abli%m5t ( a qualifi$ resid5t ( ,taiwan1 & 7ii7 income t is effectively connect$ ) su* a p]man5t e/abli%m5t1 7,b7 prev5t+ ! abuse ( ! provisions ( ?is section by p]sons :o are n 7or :o %\ld n be treat$ z7 qualifi$ resid5ts ( ,taiwan1 7,c7 requirem5ts = record keep+ & report+1 7,d7 rules to assi/ )hold+ ag5ts or employ]s 9 det]m9+ :e!r a =eign p]son is a qualifi$ resid5t ( ,taiwan = purposes ( det]m9+ :e!r )hold+ or report+ is requir$ = a paym5t 7&1 if )hold+ is requir$1 :e!r x %\ld be appli$ at a r$uc$ rate71 7,e7 ! application ( subsection 7a77#a77;,d77i7 to /ock held by pr$ecessor own]s1 7,f7 det]m9+ :at am\nts are to be treat$ z qualifi$ wages = purposes ( subsection 7a77#b71 7,g7 det]m9+ ! am\nts to :i* subsection 7a77#c7 applies1 7,h7 def9+ e/abli%$ securities m>ket = purposes ( subsection 7c71 7,i7 ! application ( ! rules ( subsection 7c77#d77;,b71 7,j7 ! application ( subsection 7d77#f7 & section #addf1 7,k7 det]m9+ own]%ip int]e/s held by resid5ts ( a =eign c\ntry ( conc]n1 & 7,l7 det]m9+ ! />t+ & end+ dates = p]iods ) respect to ! application ( ?is section "u subsection 7e71 :i* may be sep>ate dates = taxes )held at ! s\rce & o!r taxes4 7#b7 ,regulations to be consi/5t ) model treaty ,any regulations or o!r guidance issu$ "u ?is section %all1 to ! ext5t practical1 be consi/5t ) ! provisions ( ! ,unit$ ,/ates model income tax conv5tion dat$ ,febru>y #g1 #bjaf4 4 7b7 ,con=m+ am5dm5t to )hold+ tax ,sub*apt] ,a ( *apt] #c is am5d$ by add+ at ! end ! foll[+ new section3 #addg4 ,)hold+ = qualifi$ resid5ts ( ,taiwan ,= r$uc$ rates ( )hold+ = c]ta9 resid5ts ( ,taiwan1 see section #hid;,a4 4 7c7 ,cl]ical am5dm5ts 7#a7 ,! table ( sections = subp>t ,d ( "p ,,ii ( sub*apt] ,n ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #hid ! foll[+ new item3 ,sec4 #hid;,a4 ,special rules = qualifi$ resid5ts ( ,taiwan4 4 7#b7 ,! table ( sections = sub*apt] ,a ( *apt] #c is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #addg4 ,)hold+ = qualifi$ resid5ts ( ,taiwan4 4 ,b ,unit$ ,/ates-,taiwan ,tax ,agreem5t ,au?orization ,act #caa4 ,%ort title ,?is subtitle may be cit$ z ! ,unit$ ,/ates-,taiwan ,tax ,agreem5t ,au?orization ,act4 #cab4 ,def9itions ,9 ?is subtitle3 7#a7 ,agreem5t ,! t]m ,agreem5t means ! tax agreem5t au?oriz$ by section #cac7;a74 7#b7 ,appropriate congressional committees ,! t]m appropriate congressional committees means-- 7,a7 ! ,committee on ,=eign ,relations & ! ,committee on ,f9ance ( ! ,s5ate2 & 7,b7 ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives4 7#c7 ,approval legislation ,! t]m approval legislation means legislation t approves ! ,agreem5t4 7#d7 ,implem5t+ legislation ,! t]m implem5t+ legislation means legislation t makes any *anges to ! ,int]nal ,rev5ue ,code ( #aihf necess>y to implem5t ! ,agreem5t4 #cac4 ,au?orization to negotiate & ent] into agreem5t 7a7 ,9 g5]al ,subsequ5t to a det]m9ation "u section #hid;,a7e77#a7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by ! ,unit$ ,/ates-,taiwan ,exp$it$ ,d\ble-,tax ,relief ,act71 ! ,presid5t is au?oriz$ to negotiate & ent] into a tax agreem5t relative to ,taiwan4 7b7 ,elem5ts ( agreem5t 7#a7 ,con=mity ) bilat]al income tax conv5tions ,! ,presid5t %all ensure t-- 7,a7 any provisions includ$ 9 ! ,agreem5t con=m ) provisions cu/om>ily conta9$ 9 ,unit$ ,/ates bilat]al income tax conv5tions1 z exemplifi$ by ! #bjaf ,unit$ ,/ates ,model ,income ,tax ,conv5tion2 & 7,b7 ! ,agreem5t does n include elem5ts outside ! scope ( ! #bjaf ,unit$ ,/ates ,model ,income ,tax ,conv5tion4 7#b7 ,incorporation ( tax agreem5ts & laws ,not)/&+ p>agraph 7#a71 ! ,agreem5t may incorporate & re/ate provisions ( any agreem5t1 or exi/+ ,unit$ ,/ates law1 address+ d\ble taxation = resid5ts ( ! ,unit$ ,/ates & ,taiwan4 7#c7 ,au?ority ,! ,agreem5t %all include ! foll[+ /atem5t3 ,! ,agreem5t is ent]$ into pursuant to ! ,unit$ ,/ates-,taiwan ,tax ,agreem5t ,au?orization ,act4 7#d7 ,entry into =ce ,! ,agreem5t %all include a provision condition+ entry into =ce ^u-- 7,a7 enactm5t ( approval legislation & implem5t+ legislation pursuant to section #cag2 & 7,b7 confirmation by ! ,secret>y ( ! ,treasury t ! relevant au?ority 9 ,taiwan has approv$ & tak5 appropriate /eps requir$ to implem5t ! ,agreem5t4 #cad4 ,consultations ) ,congress 7a7 ,notification ^u comm5cem5t ( negotiations ,! ,presid5t %all provide writt5 notification to ! appropriate congressional committees ( ! comm5cem5t ( negotiations betwe5 ! ,unit$ ,/ates & ,taiwan on ! ,agreem5t at lea/ #ae cal5d> days be=e comm5c+ su* negotiations4 7b7 ,consultations dur+ negotiations 7#a7 ,brief+s ,n lat] ?an #ij days aft] comm5cem5t ( negotiations ) respect to ! ,agreem5t1 & e #ahj days !reaft] until ! ,presid5t ent]s into ! ,agreem5t1 ! ,presid5t %all provide a brief+ to ! appropriate congressional committees on ! /atus ( ! negotiations1 includ+ a description ( elem5ts "u negotiation4 7#b7 ,meet+s & o!r consultations 7,a7 ,9 g5]al ,9 ! c\rse ( negotiations ) respect to ! ,agreem5t1 ! ,secret>y ( ! ,treasury1 9 coord9ation ) ! ,secret>y ( ,/ate1 %all-- 7i7 meet1 ^u reque/1 ) ! *airman or rank+ memb] ( any ( ! appropriate congressional committees reg>d+ negotiat+ objectives & ! /atus ( negotiations 9 progress2 & 7ii7 consult closely & on a timely basis )1 & keep fully appris$ ( ! negotiations1 ! appropriate congressional committees4 7,b7 ,elem5ts ( consultations ,! consultations describ$ 9 subp>agraph 7,a7 %all include consultations ) respect to-- 7i7 ! nature ( ! contemplat$ ,agreem5t2 7ii7 h[ & to :at ext5t ! contemplat$ ,agreem5t is consi/5t ) ! elem5ts set =? 9 section #cac7;b72 & 7iii7 ! implem5tation ( ! contemplat$ ,agreem5t1 includ+-- 7,i7 ! g5]al effect ( ! contemplat$ ,agreem5t on exi/+ laws2 7,,ii7 propos$ *anges to any exi/+ laws to implem5t ! contemplat$ ,agreem5t2 & 7,,iii7 propos$ adm9i/rative actions to implem5t ! contemplat$ ,agreem5t4 #cae4 ,approval & implem5tation ( agreem5t 7a7 ,9 g5]al ,! ,agreem5t may n ent] into =ce unless-- 7#a7 ! ,presid5t1 at lea/ #fj days be=e ! day on :i* ! ,presid5t ent]s into ! ,agreem5t1 publi%es ! text ( ! contemplat$ ,agreem5t on a publicly available website ( ! ,dep>tm5t ( ! ,treasury2 & 7#b7 !re is enact$ into law1 ) respect to ! ,agreem5t1 approval legislation & implem5t+ legislation pursuant to section #cag4 7b7 ,entry into =ce ,! ,presid5t may provide = ! ,agreem5t to ent] into =ce ^u-- 7#a7 enactm5t ( approval legislation & implem5t+ legislation pursuant to section #cag2 & 7#b7 confirmation by ! ,secret>y ( ! ,treasury t ! relevant au?ority 9 ,taiwan has approv$ & tak5 appropriate /eps requir$ to implem5t ! ,agreem5t4 #caf4 ,submission to ,congress ( agreem5t & implem5tation policy 7a7 ,submission ( agreem5t ,n lat] ?an #bgj days aft] ! ,presid5t ent]s into ! ,agreem5t1 ! ,presid5t or ! ,presid5t's designee %all submit to ,congress-- 7#a7 ! f9al text ( ! ,agreem5t2 & 7#b7 a te*nical explanation ( ! ,agreem5t4 7b7 ,submission ( implem5tation policy ,n lat] ?an #bgj days aft] ! ,presid5t ent]s into ! ,agreem5t1 ! ,secret>y ( ! ,treasury %all submit to ,congress-- 7#a7 a description ( ^? *anges to exi/+ laws t ! ,presid5t consid]s w\ld be requir$ 9 ord] to ensure t ! ,unit$ ,/ates acts 9 a mann] consi/5t ) ! ,agreem5t2 & 7#b7 a /atem5t ( anticipat$ adm9i/rative action propos$ to implem5t ! ,agreem5t4 #cag4 ,consid]ation ( approval legislation & implem5t+ legislation 7a7 ,9 g5]al ,! approval legislation ) respect to ! ,agreem5t %all include ! foll[+3 ,congress approves ! ,agreem5t submitt$ to ,congress pursuant to section #caf ( ! ,unit$ ,/ates-,taiwan ,tax ,agreem5t ,au?orization ,act on 41 ) ! blank space be+ fill$ ) ! appropriate date4 7b7 ,approval legislation committee ref]ral ,! approval legislation %all-- 7#a7 9 ! ,s5ate1 be ref]r$ to ! ,committee on ,=eign ,relations2 & 7#b7 9 ! ,h\se ( ,repres5taives1 be ref]r$ to ! ,committee on ,ways & ,means4 7c7 ,implem5t+ legislation committee ref]ral ,! implem5t+ legislation %all-- 7#a7 9 ! ,s5ate1 be ref]r$ to ! ,committee on ,f9ance2 & 7#b7 9 ! ,h\se ( ,repres5tatives1 be ref]r$ to ! ,committee on ,ways & ,means4 #cah4 ,relation%ip ( agreem5t to ,int]nal ,rev5ue ,code ( #aihf 7a7 ,int]nal ,rev5ue ,code ( #aihf to control ,no provision ( ! ,agreem5t or approval legislation1 nor ! application ( any su* provision to any p]son or circum/ance1 :i* is inconsi/5t ) any provision ( ! ,int]nal ,rev5ue ,code ( #aihf1 %all h effect4 7b7 ,con/ruction ,no?+ 9 ?is subtitle %all be con/ru$-- 7#a7 to am5d or modify any law ( ! ,unit$ ,/ates2 or 7#b7 to limit any au?ority conf]r$ "u any law ( ! ,unit$ ,/ates1 unless specifically provid$ = 9 ?is subtitle4 #cai4 ,au?orization ( subsequ5t tax agreem5ts relative to ,taiwan 7a7 ,9 g5]al ,subsequ5t to ! enactm5t ( approval legislation & implem5t+ legislation pursuant to section #cag-- 7#a7 ! t]m 8tax agreem5t0 9 section #cac7;a7 %all be treat$ z includ+ any tax agreem5t relative to ,taiwan :i* supplem5ts or sup]s$es ! ,agreem5t to :i* su* approval legislation & implem5t+ legislation relates1 & 7#b7 ! t]m 8,agreem5t0 %all be treat$ z includ+ su* tax agreem5t4 7b7 ,requirem5ts1 etc41 to apply sep>ately ,! provisions ( ?is subtitle 7includ+ section #cad7 %all be appli$ sep>ately ) respect to ea* tax agreem5t ref]r$ to 9 subsection 7a74 #cbj4 ,unit$ ,/ates treatm5t ( d\ble taxation matt]s ) respect to ,taiwan 7a7 ,f9d+s ,congress makes ! foll[+ f9d+s3 7#a7 ,! ,unit$ ,/ates addresses issues ) respect to d\ble taxation ) =eign c\ntries by ent]+ into bilat]al income tax conv5tions 7kn[n z tax treaties7 ) su* c\ntries1 subject to ! advice & cons5t ( ! ,s5ate to ratification pursuant to article ,,ii ( ! ,con/itution4 7#b7 ,! ,unit$ ,/ates has ent]$ into m ?an sixty su* tax treaties1 :i* facilitate economic activity1 /r5g!n bilat]al coop]ation1 & b5efit ,unit$ ,/ates work]s1 bus9esses1 & o!r ,unit$ ,/ates taxpay]s4 7#c7 ,due to ,taiwan's unique /atus1 ! ,unit$ ,/ates is unable to ent] into an article ,,ii tax treaty ) ,taiwan1 necessitat+ an agreem5t to address issues ) respect to d\ble taxation4 7b7 ,/atem5t ( policy ,x is ! policy ( ! ,unit$ ,/ates to-- 7#a7 provide = additional bilat]al tax relief ) respect to ,taiwan1 beyond t provid$ = 9 section #hid;,a ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by ! ,unit$ ,/ates-,taiwan ,exp$it$ ,d\ble-,tax ,relief ,act71 only aft] entry into =ce ( an ,agreem5t1 z provid$ = 9 section #cae1 & only 9 a mann] consi/5t ) su* ,agreem5t2 & 7#b7 cont9ue to provide = bilat]al tax relief ) sov]eign /ates to address d\ble taxation & o!r relat$ matt]s ?r\gh ent]+ into bilat]al income tax conv5tions1 subject to ! ,s5ate's advice & cons5t to ratification pursuant to article ,,ii ( ! ,con/itution4 ,,iv ,assi/ance = ,disa/]-,impact$ ,communities #dja4 ,%ort title ,?is title may be cit$ z ! ,f$]al ,disa/] ,tax ,relief ,act ( #bjbd4 #djb4 ,ext5sion ( rules = treatm5t ( c]ta9 disa/]-relat$ p]sonal casualty losses ,= purposes ( apply+ section #cjd7;b7 ( ! ,taxpay] ,c]ta9ty & ,disa/] ,tax ,relief ,act ( #bjbj1 section #cja ( su* ,act %all be appli$ by sub/itut+ ! ,f$]al ,disa/] ,tax ,relief ,act ( #bjbd = ?is ,act ea* place x appe>s4 #djc4 ,exclusion f gross income = comp5sation = losses or damages result+ f c]ta9 wildfires 7a7 ,9 g5]al ,= purposes ( ! ,int]nal ,rev5ue ,code ( #aihf1 gross income %all n include any am\nt receiv$ by an individual z a qualifi$ wildfire relief paym5t4 7b7 ,qualifi$ wildfire relief paym5t ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ wildfire relief paym5t means any am\nt receiv$ by or on behalf ( an individual z comp5sation = losses1 exp5ses1 or damages 7includ+ comp5sation = additional liv+ exp5ses1 lo/ wages 7o!r ?an comp5sation = lo/ wages paid by ! employ] :i* w\ld h o!rwise paid su* wages71 p]sonal injury1 dea?1 or emotional di/ress7 incurr$ z a result ( a qualifi$ wildfire disa/]1 b only to ! ext5t ! losses1 exp5ses1 or damages comp5sat$ by su* paym5t are n comp5sat$ = by insurance or o!rwise4 7#b7 ,qualifi$ wildfire disa/] ,! t]m qualifi$ wildfire disa/] means any f$]ally decl>$ disa/] 7z def9$ 9 section #afe7;i77#e77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf7 decl>$1 aft] ,decemb] #ca1 #bjad1 z a result ( any =e/ or range fire4 7c7 ,d5ial ( d\ble b5efit ,not)/&+ any o!r provision ( ! ,int]nal ,rev5ue ,code ( #aihf-- 7#a7 no d$uction or cr$it %all be all[$ 7to ! p]son = ^: b5efit a qualifi$ wildfire relief paym5t is made7 =1 or by reason (1 any exp5diture to ! ext5t ( ! am\nt exclud$ "u ?is section ) respect to su* exp5diture1 & 7#b7 no increase 9 ! basis or adju/$ basis ( any prop]ty %all result f any am\nt exclud$ "u ?is subsection ) respect to su* prop]ty4 7d7 ,limitation on application ,?is section %all only apply to qualifi$ wildfire relief paym5ts receiv$ by ! individual dur+ taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai1 & be=e ,janu>y #a1 #bjbf4 #djd4 ,ea/ ,pale/9e disa/] relief paym5ts 7a7 ,disa/] relief paym5ts to victims ( ,ea/ ,pale/9e tra9 d]ailm5t ,ea/ ,pale/9e tra9 d]ailm5t paym5ts %all be treat$ z qualifi$ disa/] relief paym5ts = purposes ( section #aci7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf4 7b7 ,ea/ ,pale/9e tra9 d]ailm5t paym5ts ,= purposes ( ?is section1 ! t]m ,ea/ ,pale/9e tra9 d]ailm5t paym5t means any am\nt receiv$ by or on behalf ( an individual z comp5sation = loss1 damages1 exp5ses1 loss 9 real prop]ty value1 clos+ co/s ) respect to real prop]ty 7includ+ realtor commissions71 or inconv5i5ce 7includ+ access to real prop]ty7 result+ f ! ,ea/ ,pale/9e tra9 d]ailm5t if su* am\nt 0 provid$ by-- 7#a7 a ,f$]al1 ,/ate1 or local gov]nm5t ag5cy1 7#b7 ,norfolk ,s\!rn ,railway1 or 7#c7 any subsidi>y1 insur]1 or ag5t ( ,norfolk ,s\!rn ,railway or any relat$ p]son4 7c7 ,tra9 d]ailm5t ,= purposes ( ?is section1 ! t]m ,ea/ ,pale/9e tra9 d]ailm5t means ! d]ailm5t ( a tra9 9 ,ea/ ,pale/9e1 ,ohio1 on ,febru>y #c1 #bjbc4 7d7 ,effective date ,?is section %all apply to am\nts receiv$ on or aft] ,febru>y #c1 #bjbc4 ,v ,m ,af=dable h\s+ #eja4 ,/ate h\s+ cr$it ceil+ increase = l[-income h\s+ cr$it 7a7 ,9 g5]al ,section #db7;h77#c77;,i7 is am5d$-- 7#a7 by /rik+ & #bjba1 & ins]t+ #bjba1 #bjbc1 #bjbd1 & #bjbe11 & 7#b7 by /rik+ #bjah1 #bjai1 #bjbj1 & #bjba 9 ! head+ & ins]t+ c]ta9 cal5d> ye>s4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s aft] #bjbb4 #ejb4 ,tax-exempt bond f9anc+ requirem5t 7a7 ,9 g5]al ,section #db7;h77#d7 is am5d$ by /rik+ subp>agraph 7,b7 & ins]t+ ! foll[+3 7,b7 ,special rule :]e m9imum p]c5t ( build+s is f9anc$ ) tax-exempt bonds subject to volume cap ,= purposes ( subp>agraph 7,a71 p>agraph 7#a7 %all n apply to any portion ( ! cr$it all[able "u subsection 7a7 ) respect to a build+ if-- 7i7 #ej p]c5t or m ( ! aggregate basis ( su* build+ & ! l& on :i* ! build+ is locat$ is f9anc$ by #a or m obligations describ$ 9 subp>agraph 7,a71 or 7ii7 7,i7 #cj p]c5t or m ( ! aggregate basis ( su* build+ & ! l& on :i* ! build+ is locat$ is f9anc$ by #a or m qualifi$ obligations1 & 7,,ii7 #a or m ( su* qualifi$ obligations-- 7aa7 are "p ( an issue ! issue date ( :i* is aft] ,decemb] #ca1 #bjbc1 & 7bb7 provide ! f9anc+ = n less ?an #e p]c5t ( ! aggregate basis ( su* build+ & ! l& on :i* ! build+ is locat$4 7,c7 ,qualifi$ obligation ,= purposes ( subp>agraph 7,b77ii71 ! t]m qualifi$ obligation means an obligation :i* is describ$ 9 subp>agraph 7,a7 & :i* is "p ( an issue ! issue date ( :i* is be=e ,janu>y #a1 #bjbf4 4 7b7 ,effective date 7#a7 ,9 g5]al ,! am5dm5t made by ?is section %all apply to build+s plac$ 9 s]vice 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbc4 7#b7 ,rehabilitation exp5ditures treat$ z sep>ate new build+ ,9 ! case ( any build+ ) respect to :i* any exp5ditures are treat$ z a sep>ate new build+ "u section #db7;e7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 = purposes ( p>agraph 7#a71 bo? ! exi/+ build+ & ! sep>ate new build+ %all be treat$ z hav+ be5 plac$ 9 s]vice on ! date su* exp5ditures are treat$ z plac$ 9 s]vice "u section #db7;e77#d7 ( su* ,code4 ,,vi ,tax ,adm9i/ration & ,elim9at+ ,fraud #fja4 ,increase 9 ?re%old = requir+ in=mation report+ ) respect to c]ta9 payees 7a7 ,9 g5]al ,sections #fjda7;a7 is am5d$ by /rik+ #fjj & ins]t+ #a1jjj4 7b7 ,inflation adju/m5t ,section #fjda is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,inflation adju/m5t ,9 ! case ( any cal5d> ye> aft] #bjbd1 ! doll> am\nt 9 subsection 7a7 %all be increas$ by an am\nt equal to-- 7#a7 su* doll> am\nt1 multipli$ by 7#b7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjbc = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if any increase "u ! prec$+ s5t5ce is n a multiple ( #ajj1 su* increase %all be r\nd$ to ! ne>e/ multiple ( #ajj4 4 7c7 ,application to report+ on remun]ation = s]vices & direct sales ,section #fjda;,a is am5d$-- 7#a7 9 subsection 7a77#b71 by /rik+ is #fjj or m & ins]t+ equals or exce$s ! doll> am\nt 9 effect = su* cal5d> ye> "u section #fjda7;a71 & 7#b7 9 subsection 7b77#a77;,b71 by /rik+ is #e1jjj or m & ins]t+ equals or exce$s ! doll> am\nt 9 effect = su* cal5d> ye> "u section #fjda7;a74 7d7 ,application to backup )hold+ ,section #cdjf7;b77#f7 is am5d$-- 7#a7 by /rik+ #fjj 9 subp>agraph 7,a7 & ins]t+ ! doll> am\nt 9 effect = su* cal5d> ye> "u section #fjda7;a71 & 7#b7 by /rik+ only :]e aggregate = cal5d> ye> is #fjj or m 9 ! head+ & ins]t+ only if 9 excess ( ?re%old4 7e7 ,con=m+ am5dm5ts 7#a7 ,! head+ ( section #fjda7;a7 is am5d$ by /rik+ ( #fjj or m & ins]t+ exce$+ ?re%old4 7#b7 ,section #fjda7;a7 is am5d$ by /rik+ taxable ye> & ins]t+ cal5d> ye>4 7f7 ,effective date ,! am5dm5ts made by ?is section %all apply ) respect to paym5ts made aft] ,decemb] #ca1 #bjbc4 #fjb4 ,en=cem5t provisions ) respect to ,,covid-relat$ employee ret5tion cr$its 7a7 ,increase 9 assessable p5alty on ,,covid-,,ertc promot]s = aid+ & abett+ und]/atem5ts ( tax liability 7#a7 ,9 g5]al ,if any ,,covid-,,ertc promot] is subject to p5alty "u section #fgja7;a7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to any ,,covid-,,ertc docum5t1 not)/&+ p>agraphs 7#a7 & 7#b7 ( section #fgja7;b7 ( su* ,code1 ! am\nt ( ! p5alty impos$ "u su* section #fgja7;a7 %all be ! great] (-- 7,a7 #bjj1jjj 7#aj1jjj1 9 ! case ( a natural p]son71 or 7,b7 #ge p]c5t ( ! gross income d]iv$ 7or to be d]iv$7 by su* promot] ) respect to ! aid1 assi/ance1 or advice ref]r$ to 9 section #fgja7;a77#a7 ( su* ,code ) respect to su* docum5t4 7#b7 ,no inf]5ce ,p>agraph 7#a7 %all n be con/ru$ to create any inf]5ce ) respect to ! prop] application ( ! k requirem5t ( section #fgja7;a77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf4 7b7 ,failure to comply ) due dilig5ce requirem5ts treat$ z k = purposes ( assessable p5alty = aid+ & abett+ und]/atem5t ( tax liability ,9 ! case ( any ,,covid-,,ertc promot]1 ! k requirem5t ( section #fgja7;a77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf %all be treat$ z satisfi$ ) respect to any ,,covid-,,ertc docum5t ) respect to :i* su* promot] provid$ aid1 assi/ance1 or advice1 if su* promot] fails to comply ) ! due dilig5ce requirem5ts ref]r$ to 9 subsection 7c77#a74 7c7 ,assessable p5alty = failure to comply ) due dilig5ce requirem5ts 7#a7 ,9 g5]al ,any ,,covid-,,ertc promot] :i* provides aid1 assi/ance1 or advice ) respect to any ,,covid-,,ertc docum5t & :i* fails to comply ) due dilig5ce requirem5ts impos$ by ! ,secret>y ) respect to det]m9+ eligibility =1 or ! am\nt (1 any ,,covid-relat$ employee ret5tion tax cr$it1 %all pay a p5alty ( #a1jjj = ea* su* failure4 7#b7 ,due dilig5ce requirem5ts ,except z o!rwise provid$ by ! ,secret>y1 ! due dilig5ce requirem5ts ref]r$ to 9 p>agraph 7#a7 %all be simil> to ! due dilig5ce requirem5ts impos$ "u section #ffie7;g74 7#c7 ,re/riction to docum5ts us$ 9 connection ) returns or claims = refund ,p>agraph 7#a7 %all n apply ) respect to any ,,covid-,,ertc docum5t unless su* docum5t con/itutes1 or relates to1 a return or claim = refund4 7#d7 ,treatm5t z assessable p5alty1 etc ,= purposes ( ! ,int]nal ,rev5ue ,code ( #aihf1 ! p5alty impos$ "u p>agraph 7#a7 %all be treat$ 9 ! same mann] z a p5alty impos$ "u section #ffie7;g74 7#e7 ,secret>y ,= purposes ( ?is subsection1 ! t]m ,secret>y means ! ,secret>y ( ! ,treasury or ! ,secret>y's delegate4 7d7 ,assessable p5alties = failure to disclose in=mation1 ma9ta9 cli5t li/s1 etc ,= purposes ( sections #faaa1 #faab1 #fgjg & #fgjh ( ! ,int]nal ,rev5ue ,code ( #aihf-- 7#a7 any ,,covid-relat$ employee ret5tion tax cr$it 7:e!r or n ! taxpay] claims su* ,,covid-relat$ employee ret5tion tax cr$it7 %all be treat$ z a li/$ transaction 7& z a reportable transaction7 ) respect to any ,,covid-,,ertc promot] if su* promot] provides any aid1 assi/ance1 or advice ) respect to any ,,covid-,,ertc docum5t relat+ to su* ,,covid-relat$ employee ret5tion tax cr$it1 & 7#b7 su* ,,covid-,,ertc promot] %all be treat$ z a mat]ial advisor ) respect to su* transaction4 7e7 ,,covid-,,ertc promot] ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m ,,covid-,,ertc promot] means1 ) respect to any ,,covid-,,ertc docum5t1 any p]son :i* provides aid1 assi/ance1 or advice ) respect to su* docum5t if-- 7,a7 su* p]son *>ges or receives a fee = su* aid1 assi/ance1 or advice :i* is bas$ on ! am\nt ( ! refund or cr$it ) respect to su* docum5t &1 ) respect to su* p]son's taxable ye> 9 :i* su* p]son provid$ su* assi/ance or ! prec$+ taxable ye>1 ! aggregate gross receipts ( su* p]son = aid1 assi/ance1 & advice ) respect to all ,,covid-,,ertc docum5ts exce$s #bj p]c5t ( ! gross receipts ( su* p]son = su* taxable ye>1 or 7,b7 ) respect to su* p]son's taxable ye> 9 :i* su* p]son provid$ su* assi/ance or ! prec$+ taxable ye>-- 7i7 ! aggregate gross receipts ( su* p]son = aid1 assi/ance1 & advice ) respect to all ,,covid-,,ertc docum5ts exce$s #ej p]c5t ( ! gross receipts ( su* p]son = su* taxable ye>1 or 7ii7 bo?-- 7,i7 su* aggregate gross receipts exce$s #bj p]c5t ( ! gross receipts ( su* p]son = su* taxable ye>1 & 7,,ii7 ! aggregate gross receipts ( su* p]son = aid1 assi/ance1 & advice ) respect to all ,,covid-,,ertc docum5ts 7det]m9$ aft] application ( p>agraph 7#c77 exce$s #ejj1jjj4 7#b7 ,exception = c]tifi$ pr(essional employ] organizations ,! t]m ,,covid-,,ertc promot] %all n include a c]tifi$ pr(essional employ] organization 7z def9$ 9 section #ggje74 7#c7 ,aggregation rule ,= purposes ( p>agraph 7#a77;,b77ii77,,ii71 all p]sons treat$ z a s+le employ] "u subsection 7a7 or 7b7 ( section #eb ( ! ,int]nal ,rev5ue ,code ( #aihf1 or subsection 7m7 or 7o7 ( section #dad ( su* ,code1 %all be treat$ z #a p]son4 7#d7 ,%ort taxable ye>s ,9 ! case ( any taxable ye> ( less ?an #ab mon?s1 p>agraph 7#a7 %all be appli$ ) respect to ! cal5d> ye> 9 :i* su* taxable ye> beg9s 79 addition to apply+ to su* taxable ye>74 7f7 ,,covid-,,ertc docum5t ,= purposes ( ?is section1 ! t]m ,,covid-,,ertc docum5t means any return1 affidavit1 claim1 or o!r docum5t relat$ to any ,,covid-relat$ employee ret5tion tax cr$it1 includ+ any docum5t relat$ to eligibility =1 or ! calculation or det]m9ation ( any am\nt directly relat$ to any ,,covid-relat$ employee ret5tion tax cr$it4 7g7 ,,covid-relat$ employee ret5tion tax cr$it ,= purposes ( ?is section1 ! t]m ,,covid-relat$ employee ret5tion tax cr$it means-- 7#a7 any cr$it1 or advance paym5t1 "u section #cacd ( ! ,int]nal ,rev5ue ,code ( #aihf1 & 7#b7 any cr$it1 or advance paym5t1 "u section #bcja ( ! ,,c>es ,act4 7h7 ,limitation on cr$it & refund ( ,,covid-relat$ employee ret5tion tax cr$its ,not)/&+ section #feaa ( ! ,int]nal ,rev5ue ,code ( #aihf or any o!r provision ( law1 no cr$it or refund ( any ,,covid-relat$ employee ret5tion tax cr$it %all be all[$ or made aft] ,janu>y #ca1 #bjbd1 unless a claim = su* cr$it or refund is fil$ by ! taxpay] on or be=e su* date4 7i7 ,am5dm5ts to ext5d limitation on assessm5t 7#a7 ,9 g5]al ,section #cacd7l7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ to read z foll[s3 7l7 ,ext5sion ( limitation on assessm5t 7#a7 ,9 g5]al ,not)/&+ section #feja1 ! limitation on ! "t p]iod = ! assessm5t ( any am\nt attributable to a cr$it claim$ "u ?is section %all n expire be=e ! date t is #f ye>s aft] ! late/ (-- 7,a7 ! date on :i* ! orig9al return :i* includes ! cal5d> qu>t] ) respect to :i* su* cr$it is det]m9$ is fil$1 7,b7 ! date on :i* su* return is treat$ z fil$ "u section #feja7;b77#b71 or 7,c7 ! date on :i* ! claim = cr$it or refund ) respect to su* cr$it is made4 7#b7 ,d$uction = wages tak5 into acc\nt 9 det]m9+ improp]ly claim$ cr$it 7,a7 ,9 g5]al ,not)/&+ section #feaa1 9 ! case ( an assessm5t attributable to a cr$it claim$ "u ?is section1 ! limitation on ! "t p]iod = cr$it or refund ( any am\nt attributable to a d$uction = improp]ly claim$ ,,ertc wages %all n expire be=e ! "t p]iod = su* assessm5t expires "u p>agraph 7#a74 7,b7 ,improp]ly claim$ ,,ertc wages ,= purposes ( ?is p>agraph1 ! t]m improp]ly claim$ ,,ertc wages means1 ) respect to an assessm5t attributable to a cr$it claim$ "u ?is section1 ! wages ) respect to :i* a d$uction w\ld n h be5 all[$ if ! portion ( ! cr$it to :i* su* assessm5t relates _h be5 prop]ly claim$4 4 7#b7 ,application to ,,c>es ,act cr$it ,section #bcja ( ! ,,c>es ,act is am5d$ by add+ at ! end ! foll[+ new subsection3 7o7 ,ext5sion ( limitation on assessm5t 7#a7 ,9 g5]al ,not)/&+ section #feja ( ! ,int]nal ,rev5ue ,code ( #aihf1 ! limitation on ! "t p]iod = ! assessm5t ( any am\nt attributable to a cr$it claim$ "u ?is section %all n expire be=e ! date t is #f ye>s aft] ! late/ (-- 7,a7 ! date on :i* ! orig9al return :i* includes ! cal5d> qu>t] ) respect to :i* su* cr$it is det]m9$ is fil$1 7,b7 ! date on :i* su* return is treat$ z fil$ "u section #feja7;b77#b7 ( su* ,code1 or 7,c7 ! date on :i* ! claim = cr$it or refund ) respect to su* cr$it is made4 7#b7 ,d$uction = wages tak5 into acc\nt 9 det]m9+ improp]ly claim$ cr$it 7,a7 ,9 g5]al ,not)/&+ section #feaa ( su* ,code1 9 ! case ( an assessm5t attributable to a cr$it claim$ "u ?is section1 ! limitation on ! "t p]iod = cr$it or refund ( any am\nt attributable to a d$uction = improp]ly claim$ ,,ertc wages %all n expire be=e ! "t p]iod = su* assessm5t expires "u p>agraph 7#a74 7,b7 ,improp]ly claim$ ,,ertc wages ,= purposes ( ?is p>agraph1 ! t]m improp]ly claim$ ,,ertc wages means1 ) respect to an assessm5t attributable to a cr$it claim$ "u ?is section1 ! wages ) respect to :i* a d$uction w\ld n h be5 all[$ if ! portion ( ! cr$it to :i* su* assessm5t relates _h be5 prop]ly claim$4 4 7j7 ,effective dates 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! provisions ( ?is section %all apply to aid1 assi/ance1 & advice provid$ aft] ,m>* #ab1 #bjbj4 7#b7 ,due dilig5ce requirem5ts ,subsections 7b7 & 7c7 %all apply to aid1 assi/ance1 & advice provid$ aft] ! date ( ! enactm5t ( ?is ,act4 7#c7 ,limitation on cr$it & refund ( ,,covid-relat$ employee ret5tion tax cr$its ,subsection 7h7 %all apply to cr$its & refunds all[$ or made aft] ,janu>y #ca1 #bjbd4 7#d7 ,am5dm5ts to ext5d limitation on assessm5t ,! am5dm5ts made by subsection 7i7 %all apply to assessm5ts made aft] ! date ( ! enactm5t ( ?is ,act4 7k7 ,transition rule ) respect to requirem5ts to disclose in=mation1 ma9ta9 cli5t li/s1 etc ,any return "u section #faaa ( ! ,int]nal ,rev5ue ,code ( #aihf1 or li/ "u section #faab ( su* ,code1 requir$ by reason ( subsection 7d7 ( ?is section to be fil$ or ma9ta9$1 respectively1 ) respect to any aid1 assi/ance1 or advice provid$ by a ,,covid-,,ertc promot] ) respect to a ,,covid-,,ertc docum5t be=e ! date ( ! enactm5t ( ?is ,act1 %all n be requir$ to be s fil$ or ma9ta9$ 7) respect to su* aid1 assi/ance or advice7 be=e ! date :i* is #ij days aft] su* date4 7l7 ,provisions n to be con/ru$ to create negative inf]5ces 7#a7 ,no inf]5ce ) respect to application ( k requirem5t to pre-enactm5t conduct ( ,,covid-,,ertc promot]s1 etc ,subsection 7b7 %all n be con/ru$ to create any inf]5ce ) respect to ! prop] application ( section #fgja7;a77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to any aid1 assi/ance1 or advice provid$ by any ,,covid-,,ertc promot] on or be=e ! date ( ! enactm5t ( ?is ,act 7or ) respect to any o!r aid1 assi/ance1 or advice to :i* su* subsection does n apply74 7#b7 ,requirem5ts to disclose in=mation1 ma9ta9 cli5t li/s1 etc ,subsections 7d7 & 7k7 %all n be con/ru$ to create any inf]5ce ) respect to :e!r any ,,covid-relat$ employee ret5tion tax cr$it is 7)\t reg>d to subsection 7d77 a li/$ transaction 7or reportable transaction7 ) respect to any ,,covid-,,ertc promot]2 &1 = purposes ( subsection 7j71 a return or li/ %all n be treat$ z requir$ 7) respect to su* aid1 assi/ance1 or advice7 by reason ( subsection 7d7 if su* return or li/ w\ld be s requir$ )\t reg>d to subsection 7d74 7m7 ,regulations ,! ,secret>y 7z def9$ 9 subsection 7c77#e77 %all issue su* regulations or o!r guidance z may be necess>y or appropriate to c>ry out ! purposes ( ?is section 7& ! am5dm5ts made by ?is section74 ,pass$ ! ,h\se ( ,repres5tatives ,janu>y #ca1 #bjbd4,kev9 ,f4 ,mc,cumber1,cl]k4 ,m>* #ba1 #bjbd,read ! second "t & plac$ on ! cal5d>