#### § 1.444-0T Table of contents (temporary).

This section lists the captions that appear in the temporary regulations under section 444.

## § 1.444-1T Election to use a taxable year other than the required taxable year (temporary).

(a) General rules.

(1) Year other than required year.

(2) Effect of section 444 election.

(i) In general.

(ii) Duration of section 444 election.

(3) Section 444 election not required for certain years.

(4) Required taxable year.

(5) Termination of section 444 election.

(i) In general.

(ii) Effective date of termination.

(iii) Example.

(iv) Special rule for entity that liquidates or is sold prior to making a section 444 election, required return, or required payment.

(6) Re-activating certain S elections.

(i) Certain corporations electing S status that did not make a back-up calendar year request.

(ii) Certain corporations that revoked their S status.

(iii) Procedures for re-activating an S election.

(iv) Examples.

(b) Limitation on taxable years that may be elected.

(1) General rule.

(2) Changes in taxable year.

(i) In general.

(ii) Special rule for certain existing corporations electing S status.

(iii) Deferral period of the taxable year that is being changed.

(iv) Examples.

(3) Special rule for entities retaining 1986 taxable year.

(4) Deferral period.

(i) Retentions of taxable year.

(ii) Adoptions of and changes in taxable year.

(A) In general.

(B) Special rule.

(C) Examples.

(5) Miscellaneous rules.

(i) Special rule for determining the taxable year of a corporation electing S status.

(ii) Special procedure for cases where an income tax return is superseded.

(A) In general.

(B) Procedure for superseding return.

(iii) Anti-abuse rule.

(iv) Special rules for partial months and 52-53-week taxable years.

(c) Effective date.

(d) Examples.

(1) Changes in taxable year.

(2) Special rule for entities retaining their 1986 taxable year.

## § 1.444-2T Tiered structure (temporary).

(a) General rule.

(b) Definition of a member of a tiered structure.

(1) In general.

(2) Deferral entity.

(i) In general.

(ii) Grantor trusts.

(3) Anti-abuse rule.

(c) De minimis rules.

(1) In general.

(2) Downstream de minimis rule.

(i) General rule.

(ii) Definition of testing period.

(iii) Definition of adjusted taxable income.

(A) Partnership.

(B) S corporation.

(C) Personal service corporation.

(iv) Special rules.

(A) Pro-forma rule.

(B) Reasonable estimates allowed.

(C) Newly formed entities.

(*1*) Newly formed deferral entities.

(*2*) Newly formed partnership, S corporation, or personal service corporation desiring to make a section 444 election.

(3) Upstream de minimis rule.

(d) Date for determining the existence of a tiered structure.

(1) General rule.

(2) Special rule for taxable years beginning in 1987.

(e) Same taxable year exception.

(1) In general.

(2) Definition of tiered structure.

(i) General rule.

(ii) Special flow-through rule for downstream controlled partnerships.

(3) Determining the taxable year of a partnership or S corporation.

(4) Special rule for 52-53-week taxable years.

(5) Interaction with de minimis rules.

(i) Downstream de minimis rule.

(A) In general.

(B) Special rule for members of a tiered structure directly owned by a downstream controlled partnership.

(ii) Upstream de minimis rule.

(f) Examples.

(g) Effective date.

## § 1.444-3T Manner and time of making section 444 election (temporary).

(a) In general.

(b) Manner and time of making election.

(1) General rule.

(2) Special extension of time for making an election.

(3) Corporation electing to be an S corporation.

(i) In general.

(ii) Examples.

(4) Back-up section 444 election.

(i) General rule.

(ii) Procedures for making a back-up section 444 election.

(iii) Procedures for activating a back-up section 444 election.

(A) Partnership and S corporations.

(*1*) In general.

(*2*) Special rule if Form 720 used to satisfy return requirement.

(B) Personal service corporations.

(iv) Examples.

(c) Administrative relief.

(1) Extension of time to file income tax returns.

(i) Automatic extension.

(ii) Additional extensions.

(iii) Examples.

(2) No penalty for certain late payments.

(i) In general.

(ii) Example.

(d) Effective date.

[T.D. 8205, 53 FR 19693, May 27, 1988]