1 Sec. 201. Recapture of depreciation on real property--. Sec. 201A. Five-year amortization for low-income housing_. Sec. 202. Limitation on deductions to amount at risk..... Sec. 202A. Recapture of intangible drilling costs for oil and gas wells....... Sec. 203. Termination of additions to excess deductions accounts__ Sec. 204 (a-b). Limitations on deductions for farming syndicates- Sec. 206. Limitation on deduction of nonbusiness interest.. Sec. 207. Amortization of production costs of motion pictures, books, records, and other similar property--- Sec. 208. Clarification of definition of produced film rents_. Sec. 209. Sports franchise provisions.. Sec. 210. Certain partnership provisions.. Sec. 210(a). Dollar limitation on additional first-year depreciation Sec. 210(b). Partnership syndication and organization fees__ Sec. 210(c). Retroactive allocations of partnership income or loss- Sec. 210(d). Partnership special allocations.. Sec. 210(e). Treatment of partnership liabilities where a partner is Sec. 211. Scope of waiver of a statute of limitations in case of activities not 55 18 18 Sec. 504. Credit for child care expenses.. Sec. 505. Changes in exclusions for sick pay and certain military disability Sec. 507. Tax simplification study by Joint Committee... TITLE VI-BUSINESS-RELATED INDIVIDUAL INCOME Sec. 601. Deductions for expenses attributable to the business use of Sec. 801. Extension of $100,000 limitation on used property- Sec. 802. Extension of 10-percent investment tax credit and first-in-first- Sec. 806 (a). Net operating loss carryovers. Sec. 806(b). Limitations on trafficking in net operating loss carry- Part I-Amendments Primarily Affecting Individuals Sec. 1011. Income earned abroad by U.S. citizens living or residing abroad. Sec. 1012. U.S. taxpayers married to nonresident aliens. Sec. 1013. Grantor trust rules for foreign trusts having one or more U.S. Part III-Amendments Affecting Treatment of Foreign Taxes 34 Sec. 1031. Requirement that foreign tax credit be determined on overall Page basis__ Sec. 1032. Recapture of foreign losses.. Sec. 1033. Gross-up of dividends from less-developed country corporations. 33 33 33 Sec. 1035(a). Reduction in limitation on foreign tax credits allowed for oil and gas extraction income__ Sec. 1035(b). Foreign oil and gas extraction income earned by tax- Sec. 1035(c). Tax credit for production-sharing contracts.. Sec. 1036. Underwriting income__ Sec. 1037. Third-tier foreign tax credit when Code section 951 applies-- - Part IV-Money or Other Property Moving Out of or Into the Sec. 1041. Interest on bank deposits earned by nonresident aliens and for- Sec. 1042. Changes in ruling requirements under section 367 with respect Sec. 1044. Transitional rule for bond, etc., losses of foreign banks. Part V-Special Categories of Foreign Tax Treatment Sec. 1051. Tax treatment of corporations conducting a trade or business in Sec. 1052. Western Hemisphere Trade Corporations-- Bribe-Produced Income Sec. 1061-1067. Denial of certain tax benefits on income derived in connection with participation in an international boycott___ Sec. 1066. Denial of certain tax benefits attributable to bribe-produced income.. TITLE XI-AMENDMENTS AFFECTING DOMESTIC Sec. 1101. Domestic International Sales Corporations. B. Treatment of certain products C. Modification of provisions of Tax Reduction Act of 1975.. TITLE XII-ADMINISTRATIVE PROVISIONS Sec. 1201. Public inspection of written determinations by Internal Revenue Service.. Sec. 1202. Confidentiality and disclosure of returns and return information B. Disclosure to Congress C. Disclosure to the White House (and other Federal agencies). 34 34 E. Disclosure to the Justice Department-Nontax criminal cases.. 45 45 45 46 46 46 H. Statistical use... I. Other Federal agency uses. J. State and local governments. Sec. 1202. Confidentiality and disclosure, etc.—Continued L. Miscellaneous disclosures_ . M. Procedures and records concerning disclosure. Sec. 1206. Assessments in case of mathematical or clerical errors.. Sec. 1207(a). Withholding State and District income taxes from mil- Sec. 1207(b). Withholding State and city income taxes from members of the National Guard or the Ready Reserve_-_ Sec. 1207 (c). Voluntary withholding of State income taxes from Fed- Sec. 1207 (d). Withholding tax on certain gambling winnings. Sec. 1208. State-conducted lotteries. Sec. 1209. Minimum exemption from levy for wages, salary, and other Page 46 47 47 47 47 income.. Sec. 1210. Joint Committee refund cases-. Sec. 1212. Interest abatements on mathematical errors on tax returns prepared by IRS.. TITLE XIII-MISCELLANEOUS PROVISIONS Sec. 1301. Tax treatment of certain housing associations - 55 56 Sec. 1304. Tax treatment of certain debts owed by political parties to accrual basis taxpayers--- 56 Sec. 1305. Tax-exempt bonds for student loans- 56 Sec. 1306. Personal holding company income amendments.. Sec. 1307. Work incentive (WIN) and Federal welfare recipient employment tax credits__. 57 A. Work incentive (WIN) credit_ B. Welfare recipient tax credit__ 58 Sec. 1308. Repeal of excise tax on certain parts of light-duty trucks 58 Sec. 1309. Exemption from excise tax for certain articles resold after modification___. Sec. 1310. Franchise taxes.. Sec. 1311. Employer's duties in connection with the recording and reporting of tips.. Sec. 1312. Treatment of certain pollution control facilities. Sec. 1313. Qualification of fishing organizations as tax-exempt agricultural organizations__ Sec. 1314. Changes to subchapter S corporation shareholder rules__- Sec. 1316. Modifications in limitations on percentage depletion in case of oil and gas wells_____ Sec. 1317. Implementation of Federal-State Collection Act of 1972. Sec. 1319. Simultaneous liquidation of parent and subsidiary corporations. 61 Sec. 1322. Prohibition of discriminatory State for local taxes on generation or transmission of electricity Sec. 1323. Deduction for cost of removing architectural and transportation 62 58 58 59 59 59 59 59 60 60 62 Sec. 1324. High-income taxpayer report. Sec. 1325. Tax incentives to encourage the preservation of historic struc- Sec. 1325(a). Amortization of rehabilitation expenditures for certified Sec. 1325 (b) Demolition of certain historic structures. – Sec. 1325 (e). Transfers of partial interests in property for conservation Sec. 1326. Supplemental security income for victims of certain national Sec. 1327. Exclusion of countries which aid and abet international terrorists from preferential tariff treatment-- Sec. 1328. Net operating loss carryovers for Cuban expropriations TITLE XIV-CAPITAL GAINS AND LOSSES Sec. 1401. Increases in amount of ordinary income against which capital loss may be offset__. Sec. 1402. Increases in holding period for long-term capital gains or losses-Sec. 1403. Allowance of 8-year capital loss carryover in case of regulated investment companies. TITLE XV-PENSION AND INSURANCE TAXATION Sec. 1501. Individual retirement account (IRA) for spouse. Sec. 1503. Retirement deductions for members of Armed Forces Reserves and National Guard__ Sec. 1504. Tax-exempt annuity contracts in closed-end mutual funds--- Sec. 1506. Study of salary reduction pension plans-- Sec. 1701 (b). Investment credit limitation for railroads. Sec. 1702. Amortization over 50-year period of railroad grading and tunnel bores placed in service before 1969. Sec. 1703. Investment credit limitation for airlines... 70 70 70 70 TITLE XIX-REPEAL AND REVISION OF OBSOLETE AND Secs. 1900-07; 1951-52. Deadwood... TITLE XXI-TAX-EXEMPT ORGANIZATIONS Sec. 2101. Modification of foundation self-dealing rules in 1969 Act relating to leased property Sec. 2102. Private foundation set-asides_ Sec. 2103. Mandatory payout rate for private foundations--. Sec. 2104. Extension of time to amend charitable remainder trust govern ing instruments___ Sec. 2105. Unrelated trade or business income of trade shows, State fairs, etc.__ Sec. 2106. Declaratory judgments regarding tax-exempt status of charitable, etc. organizations. |