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Sec. 557. Income Not Placed On Annual Basis [Repealed]

Editor's Note: Pub. L. 108-357, Sec. 413(a)(1), repealed Sec. 557, effective for taxable years of foreign corporations beginning after December 31, 2004, and to taxable years of United States shareholders with or within which such taxable years of foreign corporations end.
Section 443(b) (relating to computation of tax on change of annual accounting period) shall not apply in the computation of the undistributed foreign personal holding company income under section 556.
(Aug. 16, 1954, ch. 736, 68A Stat. 198; Repealed by Pub. L. 108-357, title IV, Sec. 413(a)(1), Oct. 22, 2004, 118 Stat. 1418.)
BACKGROUND NOTES
EFFECTIVE DATE OF REPEAL
Repeal by Pub. L. 108-357, Sec. 413(a)(1), effective for taxable years of foreign corporations beginning after December 31, 2004, and to taxable years of United States shareholders with or within which such taxable years of foreign corporations end.