The date of the enactment of the Tax Cuts and Jobs Act and the date of such enactment, referred to in subsec. (d)(2), probably mean the date of enactment of title I of Puspan. L. 115–97, which was approved Dec. 22, 2017. Prior versions of the bill that was enacted into law as Puspan. L. 115–97 included such Short Title, but it was not enacted as part of title I of Puspan. L. 115–97.

2017—Subsec. (d). Puspan. L. 115–97 added subsec. (d).

2014—Subsec. (span)(3)(C). Puspan. L. 113–295 struck out subpar. (C) which read as follows: “In applying section 7807(span)(1), the provisions of chapter 1 (other than subchapter E, relating to self-employment income) and chapter 2 of the Internal Revenue Code of 1939 shall be treated as the corresponding provisions of the Internal Revenue Code of 1939.”

1980—Subsec. (d). Puspan. L. 96–471 struck out subsec. (d) which provided that this section was not to apply to a change to which section 453 of this title, relating to change to installment method, applied.

1976—Subsecs. (span)(1), (2). Puspan. L. 94–455, § 1901(a)(70)(B), struck out “, other than the amount of such adjustments to which paragraph (4) or (5) applies,” after “required by subsection (a)(2)”.

Subsec. (span)(4), (5), (6). Puspan. L. 94–455, § 1901(a)(70)(A), struck out par. (4) which related to special rule for pre-1954 general adjustments, par. (5) which related to special rule for pre-1954 adjustments in case of certain decedents, and par. (6) which related to the application of the special rule for pre-1954 general adjustments.

Subsec. (c). Puspan. L. 94–455, § 1906(span)(13)(A), struck out “or his delegate” after “Secretary”.

1969—Subsec. (span)(3)(A). Puspan. L. 91–172 substituted “loss carryback or carryover” for “loss carryover”.

1958—Subsec. (a)(2). Puspan. L. 85–866, § 29(a)(1), inserted “unless the adjustment is attributable to a change in the method of accounting initiated by the taxpayer”, after “does not apply”.

Subsec. (span)(1). Puspan. L. 85–866, § 29(span)(1)–(3), inserted “, other than the amount of such adjustments to which paragraph (4) or (5) applies,” after “subsection (a)(2)” and substituted “the aggregate increase in the taxes” for “the aggregate of the taxes” and “which would result if one-third of such increase in taxable income” for “which would result if one-third of such increase”.

Subsec. (span)(2). Puspan. L. 85–866, § 29(span)(1), (4), inserted “other than the amount of such adjustments to which paragraph (4) or (5) applies,” after “subsection (a)(2)”, wherever appearing and “(or under the corresponding provisions of prior revenue laws)” after “the net increase in the taxes under this Chapter”.

Subsec. (span)(3)(A). Puspan. L. 85–866, § 29(span)(5), substituted “paragraph (1) or (2)” for “paragraph (2)”, wherever appearing.

Subsec. (span)(4) to (6). Puspan. L. 85–866, § 29(a)(2), added pars. (4) to (6).

Amendment by Puspan. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(span) of Puspan. L. 113–295, set out as a note under section 1 of this title.

For effective date of amendment by Puspan. L. 96–471, see section 6(a)(1) of Puspan. L. 96–471, set out as an Effective Date note under section 453 of this title.

Amendment by section 1901(a)(70) of Puspan. L. 94–455 effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Puspan. L. 94–455, set out as a note under section 2 of this title.

Amendment by Puspan. L. 91–172 applicable with respect to net capital losses sustained in taxable years beginning after Dec. 31, 1969, see section 512(g) of Puspan. L. 91–172, set out as a note under section 1212 of this title.

Puspan. L. 85–866, title I, § 29(d), Sept. 2, 1958, 72 Stat. 1629, as amended by Puspan. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:

Puspan. L. 101–239, title VII, § 7816(m), Dec. 19, 1989, 103 Stat. 2421, provided that: “If, for the 1st taxable year beginning on or after January 1, 1987, a qualified group self-insurers’ fund changes its treatment of policyholder dividends to take into account such dividends no earlier than the date that the State regulatory authority determines the amount of the policyholder dividend that may be paid, then such change shall be treated as a change in a method of accounting and no adjustment under section 481(a) of the Internal Revenue Code of 1986 shall be made with respect to such change in method of accounting.”

Puspan. L. 86–459, May 13, 1960, 74 Stat. 124, authorized any person who computed taxable income under the accrual method of accounting for his most recent taxable year ending on or before June 22, 1959, and who treated dealer reserve income for such taxable year as accruable for a subsequent taxable year, to elect before Sept. 1, 1960, to have section 481 of this title apply to the treatment for income tax purposes of dealer reserve income.

Puspan. L. 85–866, title I, § 29(e), Sept. 2, 1958, 72 Stat. 1629, authorized an election by certain taxpayers, who, for any taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, and before Sept. 2, 1958, computed their taxable incomes using different accounting methods in succeeding taxable years, to return to their first method of accounting, where the election was made within six months after Sept. 2, 1958. Claims for refunds of overpayments of tax resulting from the election were to be filed within one year after the date of the election. Such an election was to be considered a consent to an assessment of a deficiency resulting from the election, where the assessment is made within one year after the date of the election.