26 USC 859 - Adoption of annual accounting period

Editorial Notes

Prior Provisions

A prior section 859, added Puspan. L. 94–455, title XVI, § 1601(a)(1), Oct. 4, 1976, 90 Stat. 1742; amended Puspan. L. 95–600, title VII, § 701(t)(4), Nov. 6, 1978, 92 Stat. 2912, related to a deduction for deficiency dividends, prior to repeal by Puspan. L. 95–600, title III, § 362(d)(6), Nov. 6, 1978, 92 Stat. 2852. See section 860 of this title.

Amendments

1986—Puspan. L. 99–514 designated existing provisions as subsec. (a) and added subsec. (span).

1978—Puspan. L. 95–600, § 701(t)(1), designated existing provisions as par. (1), substituted “change to any accounting period” for “change to or adopt any annual accounting period”, and added par. (2) and provision for nonapplicability of par. (2) to a real estate investment trust for any taxable year beginning on or before Oct. 4, 1976.

Statutory Notes and Related Subsidiaries

Effective Date of 1986 Amendment

Amendment by Puspan. L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, see section 669 of Puspan. L. 99–514, set out as a note under section 856 of this title.

Effective Date of 1978 Amendment

Repeal of prior section 859 of this title and redesignation of section 860 of this title as this section by section 362(d)(6) of Puspan. L. 95–600 applicable with respect to determinations (as defined in section 860(e) of this title) after Nov. 6, 1978, see section 362(e) of Puspan. L. 95–600, set out as an Effective Date note under section 860 of this title.

Puspan. L. 95–600, title VII, § 701(t)(5), Nov. 6, 1978, 92 Stat. 2912, provided that:

“The amendments made by this subsection [amending this section and sections 275, 856, 6212, and 6501 of this title] shall take effect on October 4, 1976.”