Source: https://law.justia.com/codes/us/2015/title-26/subtitle-a/chapter-1/subchapter-b/part-iii/sec.-122/
Timestamp: 2020-02-22 10:49:46
Document Index: 456275673

Matched Legal Cases: ['§ 122', '§1', '§2005', '§221', '§ 122', '§122', '§1', '§2005', '§221', '§2007', '§2007', '§1']

26 U.S.C. § 122 (2015) - Certain reduced uniformed services retirement pay :: Title 26 - Internal Revenue Code (Sections 1 - 9834) - US Code :: Justia
Justia US Law US Codes and Statutes US Code 2015 US Code Title 26 - Internal Revenue Code (Sections 1 - 9834) Subtitle A - Income Taxes (Sections 1 - 1564) Chapter 1 - Normal Taxes and Surtaxes (Sections 1 - 1400U-3) Subchapter B - Computation of Taxable Income (Sections 61 - 291) Part III - Items Specifically Excluded From Gross Income (Sections 101 - 140) Sec. 122 - Certain reduced uniformed services retirement pay
Contains section 122
Source Credit Added Pub. L. 89-365, §1(a)(1), Mar. 8, 1966, 80 Stat. 32; amended Pub. L. 93-406, title II, §§2005(c)(10), 2007(a), (b)(1), Sept. 2, 1974, 88 Stat. 992, 994; Pub. L. 113-295, div. A, title II, §221(a)(21), Dec. 19, 2014, 128 Stat. 4040.
Statutes at Large References 80 Stat. 32, 33
88 Stat. 992, 993
Public and Private Laws Public Law 89-365, Public Law 93-406, Public Law 113-295
26 U.S.C. § 122 (2015)
§122. Certain reduced uniformed services retirement pay(a) General rule
(b) Special rule(1) Amount excluded from gross income
For purposes of paragraph (1) and section 72(n), the term "consideration for the contract" means, in respect of any individual, the sum of—
(Added Pub. L. 89–365, §1(a)(1), Mar. 8, 1966, 80 Stat. 32; amended Pub. L. 93–406, title II, §§2005(c)(10), 2007(a), (b)(1), Sept. 2, 1974, 88 Stat. 992, 994; Pub. L. 113–295, div. A, title II, §221(a)(21), Dec. 19, 2014, 128 Stat. 4040.)
2014—Subsec. (b)(1). Pub. L. 113–295 struck out "after December 31, 1965," after "all amounts received".
1974—Subsec. (a). Pub. L. 93–406, §2007(a), substituted "United States, gross income does not include the amount of any reduction in his retired or retainer pay pursuant to the provisions of chapter 73 of title 10, United States Code" for "United States who has made an election under chapter 73 of title 10 of the United States Code to receive a reduced amount of retired or retainer pay, gross income does not include the amount of any reduction after December 31, 1965, in his retired or retainer pay by reason of such election".
Pub. L. 93–406, title II, §2007(c), Sept. 2, 1974, 88 Stat. 993, provided that: "The amendments made by this section [amending this section and sections 72, 101, and 2039 of this title] apply to taxable years ending on or after September 21, 1972. The amendments made by paragraphs (3) and (4) of subsection (b) [amending sections 101 and 2039 of this title] apply with respect to individuals dying on or after such date".
Pub. L. 89–365, §1(d), Mar. 10, 1966, 80 Stat. 33, provided that: "The amendments made by subsections (a) and (b) [enacting this section and amending section 72 of this title] shall apply with respect to taxable years ending after December 31, 1965. The amendment made by subsection (c) [amending section 101 of this title] shall apply with respect to individuals making an election under chapter 73 of title 10 of the United States Code who die after December 31, 1965."