View all text of Part IV [§ 561 - § 565]
§ 563. Rules relating to dividends paid after close of taxable year
(a) Accumulated earnings tax
(b) Personal holding company tax
In the determination of the dividends paid deduction for purposes of the personal holding company tax imposed by section 541, a dividend paid after the close of any taxable year and on or before the 15th day of the fourth month following the close of such taxable year shall, to the extent the taxpayer elects in its return for the taxable year, be considered as paid during such taxable year. The amount allowed as a dividend by reason of the application of this subsection with respect to any taxable year shall not exceed either—
(1) The undistributed personal holding company income of the corporation for the taxable year, computed without regard to this subsection, or
(2) 20 percent of the sum of the dividends paid during the taxable year, computed without regard to this subsection.
(c) Dividends considered as paid on last day of taxable year
(Aug. 16, 1954, ch. 736, 68A Stat. 199; Pub. L. 91–172, title IX, § 914(a), Dec. 30, 1969, 83 Stat. 723; Pub. L. 101–239, title VII, § 7401(b), Dec. 19, 1989, 103 Stat. 2356; Pub. L. 108–357, title IV, § 413(c)(10), Oct. 22, 2004, 118 Stat. 1507; Pub. L. 114–41, title II, § 2006(a)(2)(B), July 31, 2015, 129 Stat. 457.)