Source: http://www4.law.cornell.edu/uscode/text/42/412?quicktabs_8=3
Timestamp: 2013-12-11 10:26:26
Document Index: 142870469

Matched Legal Cases: ['§ 412', '§ 412', '§ 412', '§ 212', '§ 104', '§ 351', '§ 15352', '§ 4', '§ 15352', '§ 15352', '§ 15352']

42 USC § 412 - Self-employment income credited to calendar years | Title 42 - The Public Health and Welfare | U.S. Code | LII / Legal Information Institute
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42 USC § 412 - Self-employment income credited to calendar years
Taxable years prior to 1978 For the purposes of determining average monthly wage and quarters of coverage the amount of self-employment income derived during any taxable year which begins before 1978 shall—
Taxable years after 1977 Except as provided in subsection (c), for the purposes of determining average indexed monthly earnings, average monthly wage, and quarters of coverage the amount of self-employment income derived during any taxable year which begins after 1977 shall—
Proportional allocation For the purpose of determining average indexed monthly earnings, average monthly wage, and quarters of coverage in the case of any individual who elects the option described in clause (ii) or (iv) in the matter following section 411
(a)(16) of this title for any taxable year that does not begin with or during a particular calendar year and end with or during such year, the self-employment income of such individual deemed to be derived during such taxable year shall be allocated to the two calendar years, portions of which are included within such taxable year, in the same proportion to the total of such deemed self-employment income as the sum of the amounts applicable under section 413
(d) of this title for the calendar quarters ending with or within each such calendar year bears to the lower limit for such taxable year specified in section 411
(Aug. 14, 1935, ch. 531, title II, § 212, as added Aug. 28, 1950, ch. 809, title I, § 104(a),64 Stat. 492, 504; amended Pub. L. 95–216, title III, § 351(b),Dec. 20, 1977, 91 Stat. 1549; Pub. L. 110–234, title XV, § 15352(b)(3),May 22, 2008, 122 Stat. 1526; Pub. L. 110–246, § 4(a), title XV, § 15352(b)(3),June 18, 2008, 122 Stat. 1664, 2288.)
2008—Subsec. (b). Pub. L. 110–246, § 15352(b)(3)(A), substituted “Except as provided in subsection (c), for the purposes” for “For the purposes” in introductory provisions.
Subsec. (c). Pub. L. 110–246, § 15352(b)(3)(B), added subsec. (c).
1977—Pub. L. 95–216designated existing provisions as subsec. (a), substituted provisions relating to crediting of self-employment income to calendar years for provisions relating to crediting of self-employment income to calendar quarters, and added subsec. (b).
Amendment by section 15352(b)(3) ofPub. L. 110–246applicable to taxable years beginning after Dec. 31, 2007, see section 15352(c) ofPub. L. 110–246, set out as a note under section 1402 of Title 26, Internal Revenue Code.
Amendment by Pub. L. 95–216effective Jan. 1, 1978, see section 351(d) ofPub. L. 95–216, set out as a note under section 409 of this title.