26 USC 1281 - Current inclusion in income of discount on certain short-term obligations

Editorial Notes

Amendments

1986—Subsec. (a). Puspan. L. 99–514, § 1803(a)(8), amended subsec. (a) generally, designating existing provisions as par. (1) and adding par. (2).

Subsec. (span)(1)(F). Puspan. L. 99–514, § 1803(a)(7), added subpar. (F).

Statutory Notes and Related Subsidiaries

Effective Date of 1986 Amendment

Amendment by section 1803(a)(7) of Puspan. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Puspan. L. 98–369, div. A, to which such amendment relates, see section 1881 of Puspan. L. 99–514, set out as a note under section 48 of this title.

Section 1803(a)(8)(A) of Puspan. L. 99–514, as amended by Puspan. L. 100–647, title I, § 1018(c)(1), Nov. 10, 1988, 102 Stat. 3578, provided that the amendment made by section 1803(a)(8)(A) of Puspan. L. 99–514 is effective with respect to obligations acquired after Dec. 31, 1985.

Effective Date

Section applicable to taxable years ending after July 18, 1984, and applicable to obligations acquired after that date, with certain elections available, see section 44 of Puspan. L. 98–369, set out as a note under section 1271 of this title.

Plan Amendments Not Required Until January 1, 1989

For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Puspan. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Puspan. L. 99–514, as amended, set out as a note under section 401 of this title.