Source: http://taxtv.com/code/00675-USCODE-2011-title26-subtitleA-chap1-subchapN-partIII-subpartJ-sec989/
Timestamp: 2017-03-27 20:31:31
Document Index: 560236379

Matched Legal Cases: ['§989', '§989', '§989', '§1261', '§1012', '§13231', '§1501', '§1102', '§413', '§1102', '§989']

IRC §989. Other definitions and special rules - TaxTV.com
IRC §989. Other definitions and special rules
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Except as provided in regulations, for purposes of this subpart, the term “appropriate exchange rate” means—
(3) in the case of any amounts included in income under section 9 (a)(1)(A) or 1293(a), the average exchange rate for the taxable year of the foreign corporation, or
For purposes of the preceding sentence, any amount included in income under section 9 (a)(1)(B) shall be treated as an actual distribution made on the last day of the taxable year for which such amount was so included.
(Added Pub. L. 99– 4, title XII, §1261(a), Oct. 22, 1986, 100 Stat. 2590; amended Pub. L. 100–647, title I, §1012(v)(5), Nov. 10, 1988, 102 Stat. 3529; Pub. L. 103–66, title XIII, §13231(c)(4)(C), Aug. 10, 1993, 107 Stat. 499; Pub. L. 104–188, title I, §1501(b)(9), Aug. 20, 1996, 110 Stat. 1826; Pub. L. 105–34, title XI, §1102(b)(2), (3), Aug. 5, 1997, 111 Stat. 966; Pub. L. 108–357, title IV, §413(c)(17), Oct. 22, 2004, 118 Stat. 1508.)
The enactment of this subpart, referred to in subsec. (c)(1), probably means the date of enactment of Pub. L. 99– 4, which was approved Oct. 22, 1986.
2004—Subsec. (b)(3). Pub. L. 108–357 struck out “, 5 (a),” after “section 9 (a)(1)(A)”.
1997—Subsec. (b)(3), (4). Pub. L. 105–34, §1102(b)(3), struck out “weighted” before “average exchange rate”.
1996—Subsec. (b). Pub. L. 104–188 substituted “section 9 (a)(1)(B)” for “subparagraph (B) or (C) of section 9 (a)(1)” in closing provisions.
1993—Subsec. (b). Pub. L. 103–66 substituted “subparagraph (B) or (C) of section 9 (a)(1)” for “section 9 (a)(1)(B)” in last sentence.
1988—Subsec. (b). Pub. L. 100–647 substituted in par. (3) “section 9 (a)(1)(A)” for “section 9 (a)” and inserted at end “For purposes of the preceding sentence, any amount included in income under section 9 (a)(1)(B) shall be treated as an actual distribution made on the last day of the taxable year for which such amount was so included.”
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