26 U.S.C. § 1347
26 U.S.C. § 1347
Section, acts Aug. 16, 1954, ch. 736, 68A Stat. 349; Sept. 2, 1958, Pub. L. 85-866, title I, §61(a), 72 Stat. 1648; Dec. 30, 1969, Pub. L. 91-172, title VIII, §803(d)(5), 83 Stat. 684, related to claims against the United States involving acquisition of property.
STATUTORY NOTES AND RELATED SUBSIDIARIES
SAVINGS PROVISIONPub. L. 94-455, title XIX, §1951(b)(12)(B), Oct. 4, 1976, 90 Stat. 1840, provided that: "Notwithstanding subparagraph (A) [repealing this section], if amounts received in a taxable year beginning after December 31, 1976, would have been subject to the provisions of section 1347 if received in a taxable year beginning before such date, the tax imposed by section 1 attributable to such receipt shall be computed as if section 1347 had not been repealed."
- taxable year
- The term "taxable year" means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. "Taxable year" means, in the case of a return made for a fractional part of a year under the provisions of subtitle A or under regulations prescribed by the Secretary, the period for which such return is made.