Source: https://www.law.cornell.edu/uscode/text/26/7447
Timestamp: 2019-07-17 22:47:29
Document Index: 610486159

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26 U.S. Code § 7447 - Retirement | U.S. Code | US Law | LII / Legal Information Institute
Chapter 76. JUDICIAL PROCEEDINGS
Subchapter C. The Tax Court
Part I. ORGANIZATION AND JURISDICTION
Section 7447. Retirement
26 U.S. Code § 7447. Retirement
(a) DefinitionsFor purposes of this section—
Any judge who is not reappointed following the expiration of the term of his office may retire upon the completion of such term, if (A) he has served as a judge of the Tax Court for 15 years or more and (B) not earlier than 9 months preceding the date of the expiration of the term of his office and not later than 6 months preceding such date, he advised the President in writing that he was willing to accept reappointment to the Tax Court.
Section 8335(a) of title 5 of the United States Code (relating to automatic separation from the service) shall not apply in respect of judges. Any judge who retires shall be designated “senior judge”.
(c) Recalling of retired judgesAt or after his retirement, any individual who has elected to receive retired pay under subsection (d) may be called upon by the chief judge of the Tax Court to perform such judicial duties with the Tax Court as may be requested of him for any period or periods specified by the chief judge; except that in the case of any such individual—
(d) Retired payAny individual who—
(e) Election to receive retired payAny judge may elect to receive retired pay under subsection (d). Such an election—
(f) Retired pay affected in certain casesIn the case of an individual for whom an election to receive retired pay under subsection (d) is in effect—
If such individual performs (or supervises or directs the performance of) legal or accounting services in the field of Federal taxation for his client, his employer, or any of his employer’s clients, such individual shall forfeit all rights to retired pay under subsection (d) for all periods beginning on or after the 1st day on which he engages in any such activity. The preceding sentence shall not apply to any civil office or employment under the Government of the United States.
(A) In generalIf any individual makes an election under this paragraph—
(B) ElectionAn election under this paragraph—
(2) Effect of electing retired payIn the case of any individual who has filed an election to receive retired pay under subsection (d)—
such individual shall be paid the lump-sum credit computed under section 8331(8) of title 5 of the United States Code upon making application therefor with the Office of Personnel Management.
(3) Effect of revocationIn the case of any revocation under this subsection—
the individual shall be treated as not having filed an election under section 7448(b), and
section 7448(g) shall not apply, and the amount credited to such individual’s account (together with interest at 3 percent per annum, compounded on December 31 of each year to the date on which the revocation is filed) shall be returned to such individual,
The amount contributed by a judge to the Thrift Savings Fund in any pay period shall not exceed the maximum percentage of such judge’s basic pay for such period as allowable under section 8440f of title 5, United States Code. Basic pay does not include any retired pay paid pursuant to this section.
(C) Applicability of section 8433(b) of title 5 whether or not judge retiresSection 8433(b) of title 5, United States Code, applies with respect to a judge who makes an election under paragraph (1) and who either—
Notwithstanding subparagraph (C), if any judge retires under this section, or resigns without having met the age and service requirements set forth under subsection (b)(2), and such judge’s nonforfeitable account balance is less than an amount that the Executive Director of the Federal Retirement Thrift Investment Board prescribes by regulation, the Executive Director shall pay the nonforfeitable account balance to the participant in a single payment.
(Aug. 16, 1954, ch. 736, 68A Stat. 880; Pub. L. 89–354, § 1, Feb. 2, 1966, 80 Stat. 5; Pub. L. 91–172, title IX, §§ 954, 960(c), (d), Dec. 30, 1969, 83 Stat. 730, 734; Pub. L. 92–41, § 4(a), July 1, 1971, 85 Stat. 99; Pub. L. 95–472, § 1, Oct. 17, 1978, 92 Stat. 1332; Pub. L. 97–362, title I, § 106(d), Oct. 25, 1982, 96 Stat. 1730; Pub. L. 99–514, title XV, § 1557(a), (b), (d), Oct. 22, 1986, 100 Stat. 2756, 2757; Pub. L. 100–647, title I, § 1015(k)(1), Nov. 10, 1988, 102 Stat. 3571; Pub. L. 109–280, title VIII, § 853(a), Aug. 17, 2006, 120 Stat. 1016; Pub. L. 113–295, div. A, title II, § 221(a)(115), Dec. 19, 2014, 128 Stat. 4054.)
2014—Subsec. (i)(3)(B)(ii). Pub. L. 113–295 substituted “at 3 percent per annum” for “at 4 percent per annum to December 31, 1947, and 3 percent per annum thereafter”.
1988—Subsec. (d). Pub. L. 100–647 inserted at end “In computing the rate of the retired pay under paragraph (1) of this subsection for any individual who is entitled thereto, any period during which such individual performs services under subsection (c) on a substantially full-time basis shall be treated as a period during which he has served as a judge.”
1986—Subsec. (a)(2), (3), (5). Pub. L. 99–514, § 1557(d)(1), redesignated pars. (3) and (5) as (2) and (3), respectively, and struck out former par. (2) which read as follows: “The term ‘Civil Service Commission’ means the United States Civil Service Commission.”
Subsec. (b)(2). Pub. L. 99–514, § 1557(a), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “Any judge who has attained the age of 65 may retire any time after serving as judge for 15 years or more.”
Subsec. (e). Pub. L. 99–514, § 1557(d)(2), substituted “Office of Personnel Management” for “Civil Service Commission” in par. (4) and in last sentence.
Subsec. (f). Pub. L. 99–514, § 1557(b), amended subsec. (f) generally. Prior to amendment, subsec. (f), individuals receiving retired pay to be available for recall, read as follows: “Any individual who has elected to receive retired pay under subsection (d) who thereafter—
Subsec. (g)(2)(C). Pub. L. 99–514, § 1557(d)(3), substituted “Office of Personnel Management” for “Civil Service Commission”.
1982—Subsec. (b). Pub. L. 97–362 inserted provision that any judge who retires shall be designated “senior judge”.
1971—Subsec. (c). Pub. L. 92–41 substituted “At or after his retirement, any individual who has elected to receive” for “Any individual who is receiving”.
1969—Subsec. (a)(4). Pub. L. 91–172, § 954(e)(1), struck out par. (4) which defined the term “Civil Service Retirement Act”.
Subsec. (a)(1). Pub. L. 91–172, § 960(c), substituted “United States Tax Court” for “Tax Court of the United States”.
Subsec. (a)(5). Pub. L. 91–172, § 960(d), inserted reference to service as a judge of the Tax Court of the United States.
Subsec. (b). Pub. L. 91–172, § 954(a), substituted provisions authorizing retirement at age 70, or age 65 after serving 15 years, or when any judge has become permanently disabled, authorizing any judge not reappointed who has served 15 years or more to retire under enumerated condition, and rendering section 8335(a) of title 5 not applicable to judges, for provisions authorizing retirement after a judge has served 18 years, requiring anyone who served as a judge for 10 years or more and attained the age of 70 years to retire no later than the close of the third month beginning after the month in which he attained 70 years or the month completing the tenth year of service or August 1953, and rendering section 2(a) of the Civil Service Retirement Act not applicable to judges.
Subsec. (d). Pub. L. 91–172, § 954(b), substituted provisions specifying methods of computation of retirement pay under subsec. (b) of this section so as to conform such provisions to subsec. (b) (relating to conditions for retiring), for provisions specifying methods of computation for retirement pay under former subsec. (b) of this section (relating to conditions for retiring).
Subsec. (g)(1). Pub. L. 91–172, § 954(e)(2), substituted “civil service retirement laws” and “such civil service retirement laws apply” for “Civil Service Retirement Act” and “such Act applies”, respectively.
Subsec. (g)(2). Pub. L. 91–172, § 954(c), substituted provisions that any individual electing to receive retirement pay under subsec. (d) of this section is not to receive any payment under the civil service retirement laws, and no deduction is to be made for the Civil Service Retirement and Disability Fund, and a lump-sum credit computed under section 8331(8) of Title 5 is to be paid, for provisions which enumerated the effects and conditions of electing retirement pay under former subsec. (d) of this section.
Subsec. (g)(3). Pub. L. 91–172, § 954(c), struck out par. (3) which enumerated the conditions and effects of waiving civil service benefits in lieu of retirement pay under former subsec. (d) of this section.
Subsec. (g)(4). Pub. L. 91–172, § 954(c), struck out par. (4) which provided that the fourth and sixth paragraphs of section 6 of the Civil Service Retirement Act would be applicable to retirement pay accruing under subsec. (d) of this section.
Subsec. (h). Pub. L. 91–172, § 954(d), added subsec. (h).
1966—Subsec. (d). Pub. L. 89–354 substituted “during any period at a rate which bears the same ratio to the rate of the salary payable to a judge during such period” for “at a rate which bears the same ratio to the rate of the salary payable to him as judge at the time he ceases to be a judge” and “the rate of such salary for such period” for “the rate of such salary” wherever appearing.
Pub. L. 109–280, title VIII, § 853(b), Aug. 17, 2006, 120 Stat. 1017, provided that:
“The amendment made by this section [amending this section] shall take effect on the date of the enactment of this Act [Aug. 17, 2006], except that United States Tax Court judges may only begin to participate in the Thrift Savings Plan at the next open season beginning after such date.”
Pub. L. 100–647, title I, § 1015(k)(2), Nov. 10, 1988, 102 Stat. 3571, provided that:
“The amendment made by paragraph (1) [amending this section] shall apply for purposes of determining the amount of retired pay for months beginning after the date of the enactment of this Act [Nov. 10, 1988] regardless of when the services under section 7447(c) of the 1986 Code were performed.”
Pub. L. 99–514, title XV, § 1557(e), Oct. 22, 1986, 100 Stat. 2757, provided that:
The amendments made by this section [amending this section and section 7448 of this title] shall take effect on the date of the enactment of this Act [Oct. 22, 1986].
“(2)Forfeiture of retired pay.—
The amendments made by this section shall not apply to any individual who, before the date of the enactment of this Act [Oct. 22, 1986], forfeited his rights to retired pay under section 7447(d) of the Internal Revenue Code of 1954 [now 1986] by reason of the 1st sentence of section 7447(f) of such Code (as in effect on the day before such date).”
Pub. L. 95–472, § 2(a), Oct. 17, 1978, 92 Stat. 1332, provided that:
“The amendment made by the first section of this Act [amending this section] shall apply with respect to revocations made after the date of the enactment of this Act [Oct. 17, 1978].”
Pub. L. 92–41, § 4(c)(1), July 1, 1971, 85 Stat. 99, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“The amendment made by subsection (a) [amending this section] shall be effective as if included in the Internal Revenue Code of 1986 [formerly I.R.C. 1954] on the date of its enactment [July 1, 1971]. Provisions having the same effect as such amendment shall be treated as having been included in the Internal Revenue Code of 1939 [section 1106(c)] effective on and after August 7, 1953.”
Pub. L. 91–172, title IX, § 962(d), Dec. 30, 1969, 83 Stat. 736, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“The amendments made by subsections (a), (b), and (d) of section 954 [amending this section] shall apply to—
all judges of the Tax Court retiring on or after the date of enactment of this Act [Dec. 30, 1969], and
all individuals performing judicial duties pursuant to section 7447(c) or receiving retired pay pursuant to section 7447(d) on the day preceding the date of enactment of this Act [Dec. 30, 1969].
Pub. L. 89–354, § 2, Feb. 2, 1966, 80 Stat. 5, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“The amendments made by the first section of this Act [amending this section and section 1106 of I.R.C. 1939] shall apply with respect to retired pay accruing under section 1106 of the Internal Revenue Code of 1939 or section 7447 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] on or after the first day of the first calendar month which begins after the date of enactment of this Act [Feb. 2, 1966].”
Functions vested by statute in United States Civil Service Commission or Chairman thereof transferred to Director of Office of Personnel Management (except as otherwise specified) by Reorg. Plan No. 2 of 1978, § 102, 43 F.R. 36037, 92 Stat. 3783, set out under section 1101 of Title 5, Government Organization and Employees, effective Jan. 1, 1979, as provided by section 1–102 of Ex. Ord. No. 12107, Dec. 28, 1978, 44 F.R. 1055, set out under section 1101 of Title 5.
Pub. L. 95–472, § 2(b), Oct. 17, 1978, 92 Stat. 1333, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“Any individual who elects to revoke under section 7447(i) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] within one year after the date of enactment of this Act [Oct. 17, 1978] shall be treated as having the requisite current service for purposes of redepositing funds in the Civil Service Retirement and Disability Fund and for purposes of reviving creditable service under subchapter III of chapter 83 of title 5 of the United States Code.”