Source: http://taxtv.com/code/00494-USCODE-2011-title26-subtitleA-chap1-subchapJ-partI-subpartD-sec667/
Timestamp: 2017-11-18 19:14:41
Document Index: 528572511

Matched Legal Cases: ['§667', '§667', '§667', '§331', '§701', '§1014', '§102', '§701', '§104', '§701', '§2']

IRC §667. Treatment of amounts deemed distributed by trust in preceding years - TaxTV.com
IRC §667. Treatment of amounts deemed distributed by trust in preceding years
View related content: IRC §667
(B) by taking from the 5 taxable years immediately preceding the year of the accumulation distribution the 1 taxable year for which the beneficiary’s taxable income was the highest and the 1 taxable year for which his taxable income was the lowest,
(C) by adding to the beneficiary’s taxable income for each of the 3 taxable years remaining after the application of subparagraph (B) an amount determined by dividing the amount deemed distributed under section 666 and required to be included in income under subsection (a) by the number of preceding taxable years determined under subparagraph (A), and
(Aug. 16, 1954, ch. 736, 68A Stat. 225; Pub. L. 91–172, title III, §331(a), Dec. 30, 1969, 83 Stat. 594; Pub. L. 94–455, title VII, §701(a)(1), title X, §1014(a), Oct. 4, 1976, 90 Stat. 1575, 1617; Pub. L. 95–30, title I, §102(b)(8), May 23, 1977, 91 Stat. 138; Pub. L. 95–600, title VII, §§701(q)(1)(B), (C), (r)(1), 702(o)(1), Nov. 6, 1978, 92 Stat. 2909, 2910, 2936; Pub. L. 99– 4, title I, §104(b)(10), Oct. 22, 1986, 100 Stat. 2105.)
1986—Subsec. (b)(2). Pub. L. 99– 4 amended par. (2) generally. Prior to amendment, par. (2) read as follows: “For purposes of paragraph (1), the taxable income of the beneficiary for any taxable year shall be deemed to be not less than—
1978—Subsec. (b)(1). Pub. L. 95–600, §701(q)(1)(C), inserted in last sentence “(other than the amount of taxes described in section 665(d)(2))” after “taxes”.
Section 702(o)(2) of Pub. L. 95–600, as amended by Pub. L. 99– 4, §2, Oct. 22, 1986, 100 Stat. 2095, provided that: “The amendment made by paragraph (1) [amending this section] shall apply—
Section 701(r)(2) of Pub. L. 95–600 provided that: “The amendment made by paragraph (1) [amending this section] shall apply to distributions made in taxable years beginning after December 31, 1975.”
Section 701(h) of Pub. L. 94–455 provided that: “The amendments made by subsections (a), (b), (c), (d), and (f) of this section [amending this section and sections 665, 666, 1302, and 6401 of this title and repealing sections 668 and 669 of this title] shall apply to distributions made in taxable years beginning after December 31, 1975. The amendments made by subsection (e) of this section [enacting section 644 of this title and amending section 641 of this title] shall apply to transfers in trust made after May 21, 1976.”