26 USC 874 - Allowance of deductions and credits

Editorial Notes

Amendments

1984—Subsec. (a). Puspan. L. 98–369 substituted reference to section “33” for “32” and “34” for “39”.

1983—Subsec. (a). Puspan. L. 97–424 substituted “and special fuels” for “, special fuels, and lubricating oil”.

1976—Subsecs. (a), (span). Puspan. L. 94–455 struck out “or his delegate” after “Secretary”.

1970—Subsec. (a). Puspan. L. 91–258 included provision against construction of subsec. (a) to deny credit provided by section 39 for certain uses of special fuels.

1966—Subsec. (a). Puspan. L. 89–809, § 103(d), struck out “of his total income received from all sources in the United States” after “true and accurate return”.

Subsec. (c). Puspan. L. 89–809, § 106(a)(3), substituted “Foreign tax credit” for “Foreign tax credit not allowed” in heading and inserted reference to an exception provided in section 906.

1965—Subsec. (a). Puspan. L. 89–44 inserted “or the credit provided by section 39 for certain uses of gasoline and lubricating oil”.

Statutory Notes and Related Subsidiaries

Effective Date of 1984 Amendment

Amendment by Puspan. L. 98–369 applicable to taxable years beginning after Dec. 31, 1983, and to carrybacks from such years, see section 475(a) of Puspan. L. 98–369, set out as a note under section 21 of this title.

Effective Date of 1983 Amendment

Amendment by Puspan. L. 97–424 applicable with respect to articles sold after Jan. 6, 1983, see section 515(c) of Puspan. L. 97–424, set out as a note under section 34 of this title.

Effective Date of 1970 Amendment

Amendment by Puspan. L. 91–258 effective July 1, 1970, see section 211(a) of Puspan. L. 91–258, set out as a note under section 4041 of this title.

Effective Date of 1966 Amendment

Amendment by section 103(d) of Puspan. L. 89–809 applicable with respect to taxable years beginning after Dec. 31, 1966, see section 103(n)(1) of Puspan. L. 89–809, set out as a note under section 871 of this title.

Puspan. L. 89–809, title I, § 106(a)(6), Nov. 13, 1966, 80 Stat. 1569, as amended by Puspan. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:

“The amendments made by this subsection [enacting section 906 of this title and amending this section and section 901 of this title] shall apply with respect to taxable years beginning after Dec. 31, 1966. In applying section 904 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] with respect to section 906 of such Code, no amount may be carried from or to any taxable year beginning before Jan. 1, 1967, and no such year shall be taken into account.”

Effective Date of 1965 Amendment

Amendment by Puspan. L. 89–44 applicable to taxable years beginning on or after July 1, 1965, see section 809(f) of Puspan. L. 89–44, set out as a note under section 6420 of this title.