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Internal Revenue Code, § 6655. Failure By Corporation To Pay Estimated Income Tax

I.R.C. § 6655(a) Addition To Tax
Except as otherwise provided in this section, in the case of any underpayment of estimated tax by a corporation, there shall be added to the tax under chapter 1 for the taxable year an amount determined by applying—
I.R.C. § 6655(a)(1)
the underpayment rate established under section 6621,
I.R.C. § 6655(a)(2)
to the amount of the underpayment,
I.R.C. § 6655(a)(3)
for the period of the underpayment.
I.R.C. § 6655(b) Amount Of Underpayment; Period Of Underpayment
For purposes of subsection (a)
I.R.C. § 6655(b)(1) Amount
The amount of the underpayment shall be the excess of—
I.R.C. § 6655(b)(1)(A)
the required installment, over
I.R.C. § 6655(b)(1)(B)
the amount (if any) of the installment paid on or before the due date for the installment.
I.R.C. § 6655(b)(2) Period Of Underpayment
The period of the underpayment shall run from the due date for the installment to whichever of the following dates is the earlier—
I.R.C. § 6655(b)(2)(A)
Editor's Note: Sec. 6655(b)(2)(A), below, was amended by Pub. L. 114-41, Sec. 2006(a)(2)(F), by substituting “4th month” for “3rd month” effective for taxable years beginning after Dec. 31, 2015, and, with respect to C corporations with a taxable year ending on June 30, returns for taxable years beginning after Dec. 31, 2025.
the 15th day of the 4th month following the close of the taxable year, or
I.R.C. § 6655(b)(2)(B)
with respect to any portion of the underpayment, the date on which such portion is paid.
I.R.C. § 6655(b)(3) Order Of Crediting Payments
For purposes of paragraph (2)(B), a payment of estimated tax shall be credited against unpaid required installments in the order in which such installments are required to be paid.
I.R.C. § 6655(c) Number Of Required Installments; Due Dates
For purposes of this section—
I.R.C. § 6655(c)(1) Payable In 4 Installments
There shall be 4 required installments for each taxable year.
I.R.C. § 6655(c)(2) Time For Payment Of Installments
 

   In the case of the following
     required installments:                  The due date is:

   1st.......................................... April 15
   2nd.......................................... June 15
   3rd.......................................... September 15
   4th.......................................... December 15.
I.R.C. § 6655(d) Amount Of Required Installments
For purposes of this section—
I.R.C. § 6655(d)(1) Amount
I.R.C. § 6655(d)(1)(A) In General
Except as otherwise provided in this section, the amount of any required installment shall be 25 percent of the required annual payment.
I.R.C. § 6655(d)(1)(B) Required Annual Payment
Except as otherwise provided in this subsection, the term “required annual payment” means the lesser of—
I.R.C. § 6655(d)(1)(B)(i)
100 percent of the tax shown on the return for the taxable year (or, if no return is filed, 100 percent of the tax for such year), or
I.R.C. § 6655(d)(1)(B)(ii)
100 percent of the tax shown on the return of the corporation for the preceding taxable year.
Clause (ii) shall not apply if the preceding taxable year was not a taxable year of 12 months, or the corporation did not file a return for such preceding taxable year showing a liability for tax.
I.R.C. § 6655(d)(2) Large Corporations Required To Pay 100 Percent Of Current Year Tax
I.R.C. § 6655(d)(2)(A) In General
Except as provided in subparagraph (B), clause (ii) of paragraph (1)(B) shall not apply in the case of a large corporation.
I.R.C. § 6655(d)(2)(B) May Use Last Year's Tax For 1st Installment
Subparagraph (A) shall not apply for purposes of determining the amount of the 1st required installment for any taxable year. Any reduction in such 1st installment by reason of the preceding sentence shall be recaptured by increasing the amount of the next required installment determined under paragraph (1) by the amount of such reduction.
I.R.C. § 6655(d)(3)
[Stricken]
I.R.C. § 6655(e) Lower Required Installment Where Annualized Income Installment Or Adjusted Seasonal Installment Is Less Than Amount Determined Under Subsection (d)
I.R.C. § 6655(e)(1) In General
In the case of any required installment, if the corporation establishes that the annualized income installment or the adjusted seasonal installment is less than the amount determined under subsection (d)(1) (as modified by paragraphs (2) and (3) of subsection (d))—
I.R.C. § 6655(e)(1)(A)
the amount of such required installment shall be the annualized income installment (or, if lesser, the adjusted seasonal installment), and
I.R.C. § 6655(e)(1)(B)
any reduction in a required installment resulting from the application of this paragraph shall be recaptured by increasing the amount of the next required installment determined under subsection (d)(1) (as so modified) by the amount of such reduction (and by increasing subsequent required installments to the extent that the reduction has not previously been recaptured under this subparagraph).
I.R.C. § 6655(e)(2) Determination Of Annualized Income Installment
I.R.C. § 6655(e)(2)(A) In General
In the case of any required installment, the annualized income installment is the excess (if any) of—
I.R.C. § 6655(e)(2)(A)(i)
an amount equal to the applicable percentage of the tax for the taxable year computed by placing on an annualized basis the taxable income and modified taxable income--
I.R.C. § 6655(e)(2)(A)(i)(I)
for the first 3 months of the taxable year, in the case of the 1st required installment,
I.R.C. § 6655(e)(2)(A)(i)(II)
for the first 3 months of the taxable year, in the case of the 2nd required installment,
I.R.C. § 6655(e)(2)(A)(i)(III)
for the first 6 months of the taxable year in the case of the 3rd required installment, and
I.R.C. § 6655(e)(2)(A)(i)(IV)
for the first 9 months of the taxable year, in the case of the 4th required installment, over
I.R.C. § 6655(e)(2)(A)(ii)
the aggregate amount of any prior required installments for the taxable year.
I.R.C. § 6655(e)(2)(B) Special Rules
For purposes of this paragraph—
I.R.C. § 6655(e)(2)(B)(i) Annualization
The taxable income and modified taxable income shall be placed on an annualized basis under regulations prescribed by the Secretary.
I.R.C. § 6655(e)(2)(B)(ii) Applicable Percentage
 

In the case of the following required               The applicable
           installments:                             percentage is:

1st                                                             25
2nd                                                             50
3rd                                                             75
4th                                                            100.
I.R.C. § 6655(e)(2)(B)(iii) Modified Taxable Income
The term “modified taxable income” has the meaning given such term by section 59A(c)(1).
I.R.C. § 6655(e)(2)(C) Election For Different Annualization Periods
I.R.C. § 6655(e)(2)(C)(i)
If the taxpayer makes an election under this clause—
I.R.C. § 6655(e)(2)(C)(i)(I)
subclause (I) of subparagraph (A)(i) shall be applied by substituting “2 months” for “3 months”,
I.R.C. § 6655(e)(2)(C)(i)(II)
subclause (II) of subparagraph (A)(i) shall be applied by substituting “4 months” for “3 months”,
I.R.C. § 6655(e)(2)(C)(i)(III)
subclause (III) of subparagraph (A)(i) shall be applied by substituting “7 months” for “6 months”, and
I.R.C. § 6655(e)(2)(C)(i)(IV)
subclause (IV) of subparagraph (A)(i) shall be applied by substituting “10 months” for “9 months”.
I.R.C. § 6655(e)(2)(C)(ii)
If the taxpayer makes an election under this clause—
I.R.C. § 6655(e)(2)(C)(ii)(I)
subclause (II) of subparagraph (A)(i) shall be applied by substituting “5 months” for “3 months”,
I.R.C. § 6655(e)(2)(C)(ii)(II)
subclause (III) of subparagraph (A)(i) shall be applied by substituting “8 months” for “6 months”, and
I.R.C. § 6655(e)(2)(C)(ii)(III)
subclause (IV) of subparagraph (A)(i) shall be applied by substituting “11 months” for “9 months”.
I.R.C. § 6655(e)(2)(C)(iii)
An election under clause (i) or (ii) shall apply to the taxable year for which made and such an election shall be effective only if made on or before the date required for the payment of the first required installment for such taxable year.
I.R.C. § 6655(e)(3) Determination Of Adjusted Seasonal Installment
I.R.C. § 6655(e)(3)(A) In General
In the case of any required installment, the amount of the adjusted seasonal installment is the excess (if any) of—
I.R.C. § 6655(e)(3)(A)(i)
100 percent of the amount determined under subparagraph (C), over
I.R.C. § 6655(e)(3)(A)(ii)
the aggregate amount of all prior required installments for the taxable year.
I.R.C. § 6655(e)(3)(B) Limitation On Application Of Paragraph
This paragraph shall apply only if the base period percentage for any 6 consecutive months of the taxable year equals or exceeds 70 percent.
I.R.C. § 6655(e)(3)(C) Determination Of Amount
The amount determined under this subparagraph for any installment shall be determined in the following manner—
I.R.C. § 6655(e)(3)(C)(i)
take the taxable income for all months during the taxable year preceding the filing month,
I.R.C. § 6655(e)(3)(C)(ii)
divide such amount by the base period percentage for all months during the taxable year preceding the filing month,
I.R.C. § 6655(e)(3)(C)(iii)
determine the tax on the amount determined under clause (ii), and
I.R.C. § 6655(e)(3)(C)(iv)
multiply the tax computed under clause (iii) by the base period percentage for the filing month and all months during the taxable year preceding the filing month.
I.R.C. § 6655(e)(3)(D) Definitions And Special Rules
For purposes of this paragraph—
I.R.C. § 6655(e)(3)(D)(i) Base Period Percentage
The base period percentage for any period of months shall be the average percent which the taxable income for the corresponding months in each of the 3 preceding taxable years bears to the taxable income for the 3 preceding taxable years.
I.R.C. § 6655(e)(3)(D)(ii) Filing Month
The term “filing month” means the month in which the installment is required to be paid.
I.R.C. § 6655(e)(3)(D)(iii) Reorganization, Etc.
The Secretary may by regulations provide for the determination of the base period percentage in the case of reorganizations, new corporations, and other similar circumstances.
I.R.C. § 6655(e)(4) Treatment Of Subpart F Income
I.R.C. § 6655(e)(4)(A) In General
Any amounts required to be included in gross income under section 951(a) (and credits properly allocable thereto) shall be taken into account in computing any annualized income installment under paragraph (2) in a manner similar to the manner under which partnership income inclusions (and credits properly allocable thereto) are taken into account.
I.R.C. § 6655(e)(4)(B) Prior Year Safe Harbor
I.R.C. § 6655(e)(4)(B)(i) In General
If a taxpayer elects to have this subparagraph apply for any taxable year—
I.R.C. § 6655(e)(4)(B)(i)(I)
subparagraph (A) shall not apply, and
I.R.C. § 6655(e)(4)(B)(i)(II)
for purposes of computing any annualized income installment for such taxable year, the taxpayer shall be treated as having received ratably during such taxable year items of income and credit described in subparagraph (A) in an amount equal to 115 percent of the amount of such items shown on the return of the taxpayer for the preceding taxable year (the second preceding taxable year in the case of the first and second required installments for such taxable year).
I.R.C. § 6655(e)(4)(B)(ii) Special Rule For Noncontrolling Shareholder
I.R.C. § 6655(e)(4)(B)(ii)(I) In General
If a taxpayer making the election under clause (i) is a noncontrolling shareholder of a corporation, clause (i)(II) shall be applied with respect to items of such corporation by substituting “100 percent” for “115 percent”.
I.R.C. § 6655(e)(4)(B)(ii)(II) Noncontrolling Shareholder
For purposes of subclause (I), the term “noncontrolling shareholder” means, with respect to any corporation, a shareholder which (as of the beginning of the taxable year for which the installment is being made) does not own (within the meaning of section 958(a)), and is not treated as owning (within the meaning of section 958(b)), more than 50 percent (by vote or value) of the stock in the corporation.
I.R.C. § 6655(e)(5) Treatment Of Certain REIT Dividends
I.R.C. § 6655(e)(5)(A) In General
Any dividend received from a closely held real estate investment trust by any person which owns (after application of subsection (d)(5) of section 856) 10 percent or more (by vote or value) of the stock or beneficial interests in the trust shall be taken into account in computing annualized income installments under paragraph (2) in a manner similar to the manner under which partnership income inclusions are taken into account.
I.R.C. § 6655(e)(5)(B) Closely Held REIT
For purposes of subparagraph (A), the term “closely held real estate investment trust” means a real estate investment trust with respect to which 5 or fewer persons own (after application of subsection (d)(5) of section 856) 50 percent or more (by vote or value) of the stock or beneficial interests in the trust.
I.R.C. § 6655(f) Exception Where Tax Is Small Amount
No addition to tax shall be imposed under subsection (a) for any taxable year if the tax shown on the return for such taxable year (or, if no return is filed, the tax) is less than $500.
I.R.C. § 6655(g) Definitions And Special Rules
I.R.C. § 6655(g)(1) Tax
For purposes of this section, the term “tax” means the excess of—
I.R.C. § 6655(g)(1)(A)
the sum of—
I.R.C. § 6655(g)(1)(A)(i)
the tax imposed by section 11 or subchapter L of chapter 1, whichever applies,
I.R.C. § 6655(g)(1)(A)(ii)
the tax imposed by section 59A, plus
I.R.C. § 6655(g)(1)(A)(iii)
the tax imposed by section 887, over
I.R.C. § 6655(g)(1)(B)
the credits against tax provided by part IV of subchapter A of chapter 1.
For purposes of the preceding sentence, in the case of a foreign corporation subject to taxation under section 11 or 1201(a), or under subchapter L of chapter 1, the tax imposed by section 881 shall be treated as a tax imposed by section 11.
I.R.C. § 6655(g)(2) Large Corporation
I.R.C. § 6655(g)(2)(A) In General
For purposes of this section, the term “large corporation" means any corporation if such corporation (or any predecessor corporation) had taxable income of $1,000,000 or more for any taxable year during the testing period.
I.R.C. § 6655(g)(2)(B) Rules For Applying Subparagraph (A)
I.R.C. § 6655(g)(2)(B)(i) Testing Period
For purposes of subparagraph (A), the term “testing period” means the 3 taxable years immediately preceding the taxable year involved.
I.R.C. § 6655(g)(2)(B)(ii) Members Of Controlled Group
For purposes of applying subparagraph (A) to any taxable year in the testing period with respect to corporations which are component members of a controlled group of corporations for such taxable year, the $1,000,000 amount specified in subparagraph (A) shall be divided among such members under rules similar to the rules of section 1561.
I.R.C. § 6655(g)(2)(B)(iii) Certain Carrybacks And Carryovers Not Taken Into Account
For purposes of subparagraph (A), taxable income shall be determined without regard to any amount carried to the taxable year under section 172 or 1212(a).
I.R.C. § 6655(g)(3) Certain Tax-Exempt Organizations
Editor's Note: Sec. 6655(g)(3), below, was amended by Pub. L. 114-41, Sec. 2006(a)(2)(F), by substituting “4th month” for “3rd month” effective for taxable years beginning after Dec. 31, 2015, and, with respect to C corporations with a taxable year ending on June 30, returns for taxable years beginning after Dec. 31, 2025.
For purposes of this section—
I.R.C. § 6655(g)(3)(A)
Any organization subject to the tax imposed by section 511, and any private foundation, shall be treated as a corporation subject to tax under section 11.
I.R.C. § 6655(g)(3)(B)
Any tax imposed by section 511, and any tax imposed by section 1 or 4940 on a private foundation, shall be treated as a tax imposed by section 11.
I.R.C. § 6655(g)(3)(C)
Any reference to taxable income shall be treated as including a reference to unrelated business taxable income or net investment income (as the case may be).
In the case of any organization described in subparagraph (A), subsection (b)(2)(A) shall be applied by substituting “5th month” for “4th month”, subsection (e)(2)(A) shall be applied by substituting “2 months” for “3 months” in clause (i)(I), the election under clause (i) of subsection (e)(2)(C) may be made separately for each installment, and clause (ii) of subsection (e)(2)(C) shall not apply. In the case of a private foundation, subsection (c)(2) shall be applied by substituting “May 15” for “April 15”.
I.R.C. § 6655(g)(4) Application Of Section To Certain Taxes Imposed On S Corporations
Editor's Note: Sec. 6655(g)(4), below, was amended by Pub. L. 114-41, Sec. 2006(a)(2)(G), by redesignating subpar. (E) as subpar. (F) and by adding new subpar. (E), effective for taxable years beginning after Dec. 31, 2015, and, with respect to C corporations with a taxable year ending on June 30, returns for taxable years beginning after Dec. 31, 2025.
In the case of an S corporation, for purposes of this section—
I.R.C. § 6655(g)(4)(A)
The following taxes shall be treated as imposed by section 11:
I.R.C. § 6655(g)(4)(A)(i)
The tax imposed by section 1374(a).
I.R.C. § 6655(g)(4)(A)(ii)
The tax imposed by section 1375(a).
I.R.C. § 6655(g)(4)(A)(iii)
Any tax for which the S corporation is liable by reason of section 1371(d)(2).
I.R.C. § 6655(g)(4)(B)
Paragraph (2) of subsection (d) shall not apply.
I.R.C. § 6655(g)(4)(C)
Clause (ii) of subsection (d)(1)(B) shall be applied as if it read as follows:
“(ii) the sum of—
“(I) the amount determined under clause (i) by only taking into account the taxes referred to in clauses (i) and (iii) of subsection (g)(4)(A), and
“(II) 100 percent of the tax imposed by section 1375(a) which was shown on the return of the corporation for the preceding taxable year.”
I.R.C. § 6655(g)(4)(D)
The requirement in the last sentence of subsection (d)(1)(B) that the return for the preceding taxable year show a liability for tax shall not apply.
I.R.C. § 6655(g)(4)(E)
Subsection (b)(2)(A) shall be applied by substituting “3rd month” for “4th month”.
I.R.C. § 6655(g)(4)(F)
Any reference in subsection (e) to taxable income shall be treated as including a reference to the net recognized built-in gain or the excess passive income (as the case may be).
I.R.C. § 6655(h) Excessive Adjustment Under Section 6425
I.R.C. § 6655(h)(1) Addition To Tax
Editor's Note: Sec. 6655(h)(1), below, was amended by Pub. L. 114-41, Sec. 2006(a)(2)(F), by substituting “4th month” for “3rd month” effective for taxable years beginning after Dec. 31, 2015, and, with respect to C corporations with a taxable year ending on June 30, returns for taxable years beginning after Dec. 31, 2025.
If the amount of an adjustment under section 6425 made before the 15th day of the 4th month following the close of the taxable year is excessive, there shall be added to the tax under chapter 1 for the taxable year an amount determined at the underpayment rate established under section 6621 upon the excessive amount from the date on which the credit is allowed or the refund is paid to such 15th day.
I.R.C. § 6655(h)(2) Excessive Amount
For purposes of paragraph (1), the excessive amount is equal to the amount of the adjustment or (if smaller) the amount by which—
I.R.C. § 6655(h)(2)(A)
the income tax liability (as defined in section 6425(c)) for the taxable year as shown on the return for the taxable year, exceeds
I.R.C. § 6655(h)(2)(B)
the estimated income tax paid during the taxable year, reduced by the amount of the adjustment.
I.R.C. § 6655(i) Fiscal Years And Short Years
I.R.C. § 6655(i)(1) Fiscal Years
In applying this section to a taxable year beginning on any date other than January 1, there shall be substituted, for the months specified in this section, the months which correspond thereto.
I.R.C. § 6655(i)(2) Short Taxable Year
This section shall be applied to taxable years of less than 12 months in accordance with regulations prescribed by the Secretary.
I.R.C. § 6655(j) Regulations
The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this section.
(Aug. 16, 1954, ch. 736, 68A Stat. 825; Feb. 26, 1964, Pub. L. 88-272, title I, Sec. 122(c), 78 Stat. 28; June 28, 1968, Pub. L. 90-364, title I, Sec. 103(c), (d)(2), (e)(1), 82 Stat. 262, 264; Jan. 3, 1975, Pub. L. 93-625, Sec. 7(c), 88 Stat. 2115; Oct. 4, 1976, Pub. L. 94-455, title XIX, Sec. 1906(b)(3)(A)-(C)(i), (13)(A), 90 Stat. 1833, 1834; Nov. 6, 1978, Pub. L. 95-600, title III, Sec. 301(b)(20)(B), 92 Stat. 2824; Dec. 5, 1980, Pub. L. 96-499, title XI, Sec. 1111(a), (b), 94 Stat. 2681, 2682; Aug. 13, 1981, Pub. L. 97-34, title VI, Sec. 601(a)(6)(B), title VII, Sec. 731(a), (b), 95 Stat. 336, 346, 347; Sept. 3, 1982, Pub. L. 97-248, title II, Sec. 234(a), (c), (d), 96 Stat. 503, 504; Jan. 12, 1983, Pub. L. 97-448, title II, Sec. 201(j)(4), 96 Stat. 2396; Oct. 17, 1986, Pub. L. 99-499, title V, Sec. 516(b)(4)(D), 100 Stat. 1771; Oct. 22, 1986, Pub. L. 99-514, title VII, Sec. 701(d)(3), title XV, Sec. 1511(c)(15), 100 Stat. 2342, 2745; Dec. 22, 1987, Pub. L. 100-203, title X, Sec. 10301(a), 101 Stat. 1330-424; Aug. 23, 1988, Pub. L. 100-418, title I, Sec. 1941(b)(6)(B), 102 Stat. 1324; Nov. 10, 1988, Pub. L. 100-647, title II, Sec. 2004(r), title V, Sec. 5001(a), 102 Stat. 3609, 3660; Dec. 19, 1989, Pub. L. 101-239, title VII, Sec. 7209(a), 7822(a), 103 Stat. 2338, 2424; Nov. 5, 1990, Pub. L. 101-508, title XI, Sec. 11704(a)(28), 104 Stat. 1388-519; Aug. 10, 1993, Pub. L. 103-66, title XIII, Sec. 13225, 107 Stat. 312; Dec. 8, 1994, Pub. L. 103-465, title VII, Sec. 711; Aug. 20, 1996, Pub. L. 104-188, Sec. 1102, 1204, and 1703, 110 Stat. 1755; Pub. L. 105-34, title XIV, Sec. 1461(a), Aug. 5, 1997, 111 Stat 788; Pub. L. 106-554, Sec. 319, Dec. 21, 2000, 114 Stat. 2763; Pub. L. 113-295, Div. A, title II, Sec. 221(a)(12)(K), 221(a)(114), Dec. 19, 2014, 128 Stat. 4010; Pub. L. 114-41, title II, Sec. 2006(a)(2), July 31, 2015, 129 Stat. 443; Pub. L. 115-97, title I, Sec. 12001(b)(18), (19), 13001(b)(2)(P), 14401(d)(4), Dec. 22, 2017, 131 Stat. 2054; Pub. L. 115-141, Div. U, title IV, Sec. 401(d)(1)(D)(xx), Mar. 23, 2018, 132 Stat. 348.)
BACKGROUND NOTES
AMENDMENTS
2018 - Subsec. (e)(4). Pub. L. 115-141, Div. U, Sec. 401(d)(1)(D)(xx)(II), amended par. (4) by striking “And Section 936” in the heading.
Subsec. (e)(4)(A). Pub. L. 115-141, Div. U, Sec. 401(d)(1)(D)(xx)(I), amended subpar. (A) by striking “936(h) or”.
2017 - Subsec. (e)(2)(A). Pub. L. 115-97, Sec. 12001(b)(18), amended subpar. (A) by striking “and alternative minimum taxable income” each place it appeared.
Subsec. (e)(2)(B)(i). Pub. L. 115-97, Sec. 12001(b)(18), amended clause (i) by striking “and alternative minimum taxable income” each place it appeared.
Subsec. (e)(2)(A)(i). Pub. L. 115-97, Sec. 14401(d)(4)(B), amended clause (i) by inserting “and modified taxable income” after “taxable income”.
Subsec. (e)(2)(B)(i). Pub. L. 115-97, Sec. 14401(d)(4)(B), amended clause (i) by inserting “and modified taxable income” after “taxable income”.
Subsec. (e)(2)(B)(iii). Pub. L. 115-97, Sec. 14401(d)(4)(C), amended subpar. (B) by adding clause (iii).
Subsec. (g)(1)(A)(i)-(iii). Pub. L. 115-97, Sec. 12001(b)(19), amended subpar. (A) by inserting “plus” at the end of clause (i), by striking clause (ii), and by redesignating clause (iii) as clause (ii).
Subsec. (g)(1)(A)(i). Pub. L. 115-97, Sec. 13001(b)(2)(P), amended clause (i) by striking “or 1201(a),”.
Subsec. (g)(1)(A)(i)-(iii). Pub. L. 115-97, Sec. 14401(d)(4)(A), amended subpar. (A) by striking “plus” at the end of clause (i), by redesignating clause (ii) as clause (iii), and by adding a new clause (ii).
2015 - Subsec. (b)(2)(A). Pub. L. 114-41, Sec. 2006(a)(2)(F), amended subpar. (A) by substituting “4th month” for “3rd month”.
Subsec. (g)(3). Pub. L. 114-41, Sec. 2006(a)(2)(F), amended par. (3) by substituting “4th month” for “3rd month”.
Subsec. (g)(4). Pub. L. 114-41, Sec. 2006(a)(2)(G), amended par. (4) by redesignating subpar. (E) as subpar. (F) and by adding a new subpar. (E).
Subsec. (h)(1). Pub. L. 114-41, Sec. 2006(a)(2)(F), amended par. (1) by substituting “4th month” for “3rd month”.
2014 - Subsec. (e)(2)(A)(i). Pub. L. 113-295, Div. A, Sec. 221(a)(12)(K)(i), amended clause (i) by substituting “taxable income and alternative minimum taxable income” for “taxable income, alternative minimum taxable income, and modified alternative minimum taxable income”.
Subsec. (e)(2)(B)(i). Pub. L. 113-295, Div. A, Sec. 221(a)(12)(K)(i), amended clause (i) by substituting “taxable income and alternative minimum taxable income” for “taxable income, alternative minimum taxable income, and modified alternative minimum taxable income”.
Subsec. (e)(2)(B)(iii). Pub. L. 113-295, Div. A, Sec. 221(a)(12)(K)(ii), struck clause (iii). Before being struck, it read as follows:
“(iii) Modified Alternative Minimum Taxable Income.—The term “modified alternative minimum taxable income" has the meaning given to such term by section 59A(b).”
Subsec. (g)(1)(A)(ii)-(iv). Pub. L. 113-295, Div. A, Sec. 221(a)(12)(K)(iii), amended subpar. (A) by inserting “plus” at the end of clause (ii), by striking clause (iii), and by redesignating clause (iv) as clause (iii). Before being struck, clause (iii) read as follows:
“(iii) the tax imposed by section 59A, plus”.
Subsec. (g)(4)(A)(i). Pub. L. 113-295, Div. A, Sec. 221(a)(114), amended clause (i) by striking “(or the corresponding provisions of prior law)”.
2000 - Subsec. (e)(5)(A) and (B). Pub. L. 106-554, Sec. 319(21), substituted “subsection (d)(5)” for “subsections (d)(5) and (l)(3)(B)”.
1999 - Subsec. (e)(5). Pub. L. 106-170, Sec. 571(a), added para. (5).
1997 - Subsec. (g)(3). Pub. L. 105-34, Sec. 1461(a), added a sentence at the end of par. (3).
1996 - Subsec. 6655(g)(3). Pub. L. 104-188, Sec. 1703(h) revised the text following ‘3rd month’ in subparagraph (C). Prior to the amendment, paragraph read as follows:
“(C) In the case of any organization described in subparagraph (A), subsection (b)(2)(A) shall be applied by substituting “5th month” for “3rd month”, and, except in the case of an election under subsection (e)(2)(C), subsection (e)(2)(A) shall be applied by substituting “2 months” for “3 months” and in clause (i)(I), by substituting “4 months” for “5 months” in clause (i)(II), by substituting “7 months” for “8 months” in clause (i)(III), and by substituting “10 months” for “11 months” in clause (i)(IV).”
1994 - Subsec. (e)(4). Pub. L. 103-465, Sec. 711, added paragraph (4), effective for purposes of determining underpayments of estimated tax for taxable years beginning after December 31, 1994.
1993 - Subsec. (d)(1)(B)(i). Pub. L. 103-66, Sec. 13225(a)(1), amended clause (i) by substituting “100 percent” for “91 percent” each place it appeared.
Subsec. (d)(2). Pub. L. 103-66, Sec. 13225(a)(2)(A), amended the heading of par. (2) by substituting “100 percent” for “91 percent”.
Subsec. (d)(3). Pub. L. 103-66, Sec. 13225(a)(2)(A), struck par. (3). Before being struck, it read as follows:
“(3) Temporary Increase In Amount Of Installment Based On Current Year Tax.—In the cae of any taxable year beginning after June 30, 1992, and before 1997—
“(A) paragraph (1)(B)(i) and subsection (e)(3)(A)(i) shall be applied by substituting ‘97 percent' for ‘91 percent' each place it appears, and
“(B) the table contained in subsection (e)(2)(B)(ii) shall be applied by substituting ‘24.25', ‘48.50', ‘72.75', and ‘97' for ‘222.75', 45.50', 68.25', and ‘91.00', respectively.”
Subsec. (e)(2)(B)(ii). Pub. L. 103-66, Sec. 13225(a)(2)(B), amended clause (ii) by striking the table contained therein and inserting a new table. Before amendment, the table read as follows:
 

“In the case of the following          The applicable
   required installments:               percentage is:
   1st                                      22.75
   2nd                                      45.50
   3rd                                      68.25
   4th                                      91.00.”
Subsec. (e)(2)(A)(i). Pub. L. 103-66, Sec. 13225(b)(1), amended clause (i) by striking “or for the first 5 months” after “3 months” in subclause (II), by striking “or for the first 8 months” after “6 months” in subsclause (III), and by striking “or for the first 11 months” after “9 months” in subclause (IV).
Subsec. (e)(2)(C). Pub. L. 103-66, Sec. 13225(b)(2), amended par. (2) by adding subpar. (C).
Subsec. (e)(3)(A)(i). Pub. L. 103-66, Sec. 13225(a)(2)(C), amended clause (i) by substituting “100 percent” for “91 percent”.
Subsec. (g)(3). Pub. L. 103-66, Sec. 13225(b)(3), amended par. (3) by substituting “and, except in the case of an election under subsection (e)(2)(C), subsection (e)(2)(A)” for “and subsection (e)(2)(A)”.
1992 - Subsec. (d)(1)(B)(i). Pub. L. 102-318, Sec. 512(a), amended clause (i) by substituting “91 percent” for “90 percent” each place it appeared.
Subsec. (d)(2). Pub. L. 102-318, Sec. 512(a), amended the heading of par. (2) by substituting “91 percent” for “90 percent”.
Subsec. (d)(3). Pub. L. 102-318, Sec. 512(a), struck par. (3) and added a new par. (3). Before being struck, it read as follows:
“(3) Temporary Increase In Amount Of Installment Based On Current Tax Year.—In the case of any taxable year beginning after 1991 and before 1997--
“(A) Paragraph (1)(b)(i) and subsection (E)(3)(a)(i) shall be applied by substituting for ‘90 percent’ each place it appears the current percentage determined under the following table:
“In The Case Of A Taxable Year Beginning In: The Current Year Percentage Is:
1992 ...................................................................................93
1993 Through 1996.........................................................95
“(B) Appropriate adjustments to the table contained in subsection (e)(2)(B)(ii) shall be made to reflect the provisions of subparagraph (A).”
Subsec. (e)(2)(B)(ii). Pub. L. 102-318, Sec. 512(b)(1), amended the table in clause (ii). Before amendment, it read as follows:
 

“In the case of the following          The applicable
   required installments:               percentage is:
   1st                                      22.5
   2nd                                      45
   3rd                                      67.5
   4th                                      90.”
Subsec. (e)(3)(A)(i). Pub. L. 102-318, Sec. 512(b)(2), amended clause (i) by substituting “91 percent” for “90 percent”.
Subsec. (d)(3). Pub. L. 102-244, Sec. 3(a), amended the table. Prior to the amendment it read as follows:
 

“In the case of a taxable year          The current year
   beginning in:                        percentage is:
   1992                                      93
   1993 or 1994                              94
   1995 or 1996                              95.”
1991 - Subsec. (d). Pub. L. 102-227, Sec. 201(a), added new par. (3).
Subsec. (e)(1). Pub. L. 102-227, Sec. 201(b), amended par. (1) by substituting “modified by paragraphs (2) and (3) of subsection (d)” for “modified by subsection (d)(2)”.
1990 - Subsec. (g)(3). Pub. L. 101-508 inserted a period at end of last sentence.
1989 - Subsec. (e)(1). Pub. L. 101-239, Sec. 7822(a), substituted ‘under subsection (d)(1)’ for ‘under section (d)(1)’.
Subsec. (g)(4). Pub. L. 101-239, Sec. 7209(a), added par. (4).
1988 - Subsec. (e)(1). Pub. L. 100-647, Sec. 5001(a), struck out at end ‘A reduction shall be treated as recaptured for purposes of subparagraph (B) if 90 percent of the reduction is recaptured.’
Subsec. (g)(1)(B). Pub. L. 100-418 amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: ‘the sum of -
‘(i) the credits against tax provided by part IV of subchapter A of chapter 1, plus
‘(ii) to the extent allowed under regulations prescribed by the Secretary, any overpayment of the tax imposed by section 4986 (determined without regard to section 4995(a)(4)(B)).’
Subsec. (g)(3). Pub. L. 100-647, Sec. 2004(r), inserted last sentence, and struck out former last sentence which read as follows: ‘In the case of any organization described in subparagraph (A), subsection (b)(2)(A) shall be applied by substituting ‘5th month’ for ‘3rd month’.'
1987 - Pub. L. 100-203 amended section generally, revising and restating as subsecs. (a) to (j) provisions of former subsecs. (a) to (i).
1986 - Subsec. (a)(1). Pub. L. 99-514, Sec. 1511(c)(15), substituted ‘the underpayment rate established under section 6621’ for ‘the rate established under section 6621’.
Subsec. (f)(1). Pub. L. 99-514, Sec. 701(d)(3), amended par. (1) generally, restating existing provisions in subpar. (A) and adding subpar. (B).
Pub. L. 99-499 amended subsec. (f)(1), as amended by the Tax Reform Act of 1986 (Pub. L. 99-514), by striking out ‘plus’ at end of subpar. (A), substituting ‘plus’ for ‘over’ at end of subpar. (B), and adding subpar. (C).
1983 - Subsec. (f)(2)(B). Pub. L. 97-448 amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: ‘to the extent allowed under regulations prescribed by the Secretary, any amount which is treated under section 6429 as an overpayment of the tax imposed by section 4986’. Notwithstanding directory language that amendment be made to subsec. (e)(2)(B), the amendment was executed to subsec. (f)(2)(B) to reflect the probable intent of Congress, the intervening redesignation of subsec. (e) as (f) by Pub. L. 97-248, and the retrospective effect of the amendment as provided by section 203(a), (b) of Pub. L. 97-448, set out as an Effective Date of 1983 Amendment note under section 4988 of this title.
1982 - Subsec. (a). Pub. L. 97-248, Sec. 234(c), in heading substituted ‘Addition to tax’ for ‘Addition to the tax’, in provisions preceding par. (1) inserted reference to subsec. (e) as an exception and struck out ‘estimated’ before ‘tax’, designated existing provisions as par. (1), and in par. (1) as so designated struck out parenthetical reference to subsecs. (b) and (c) for determination of the amount of the underpayment and the period of the underpayment, respectively, and added par. (2).
Subsec. (b)(1). Pub. L. 97-248, Sec. 234(a)(1), substituted ‘90’ for ‘80’ wherever appearing.
Subsec. (d)(3)(A). Pub. L. 97-248, Sec. 234(a)(2), substituted ‘90’ for ‘80’.
Subsec. (e). Pub. L. 97-248, Sec. 234(d)(1), added subsec. (e). Former subsec. (e) redesignated (f).
Subsec. (f). Pub. L. 97-248, Sec. 234(d), redesignated former subsec. (e) as (f) and substituted references to subsecs. (e) and (i) for references to subsec. (h). Former subsec. (f) redesignated (g).
Subsecs. (g) to (i). Pub. L. 97-248, Sec. 234(d)(1), redesignated former subsecs. (f) to (h) as (g) to (i), respectively.
1981 - Subsec. (e)(2). Pub. L. 97-34, Sec. 601(a)(6)(B), inserted ‘the sum of - ‘, designated existing provisions as subpar. (A), inserted at end of subpar. (A) ‘, plus’, and added subpar. (B).
Subsec. (h). Pub. L. 97-34, Sec. 731(a), (b), substituted in heading ‘minimum percentage’ for ‘at least 60 percent’ and provisions of par. (1) respecting minimum percentage, for provisions respecting in the case of a large corporation, the amount treated as the estimated tax for the taxable year under paragraphs (1) and (2) of subsection (d) shall in no event be less than 60 percent of the tax shown on the return for the taxable year, or if no return was filed, the tax for such year.
1980 - Subsec. (e). Pub. L. 96-499, Sec. 1111(b), substituted ‘subsections (b), (d), and (h)’ for ‘subsections (b) and (d)’.
Subsec. (h). Pub. L. 96-499, Sec. 1111(a), added subsec. (h).
1978 - Subsec. (e). Pub. L. 95-600 struck out provisions relating to the corporation's temporary estimated tax exemption.
1976 - Subsec. (e)(1)(B). Pub. L. 94-455, Sec. 1906(b)(3)(A), struck out in cl. (ii) ‘after December 31, 1967, and’ after ‘taxable year beginning’ and struck out cl. (iii) which related to the case of a taxable year beginning after Dec. 31, 1967, and before Jan. 1, 1972, the amount of the corporation's transitional exemption for such year.
Subsec. (e)(2)(B). Pub. L. 94-455, Sec. 1906(b)(3)(B), substituted ‘clause (ii)’ for ‘clauses (ii) and (iii)’.
Subsec. (e)(3), (4). Pub. L. 94-455, Sec. 1906(b)(3)(C)(i), redesignated par. (4) as (3). Former par. (3), which related to the computation of a corporation's transitional exemption, was struck out.
Subsec. (f). Pub. L. 94-455, Sec. 1906(b)(13)(A), struck out ‘or his delegate’ after ‘Secretary’.
1975 - Subsecs. (a), (g)(1). Pub. L. 93-625 substituted ‘an annual rate established under section 6621’ for ‘the rate of 6 percent per annum’.
1968 - Subsec. (b)(1). Pub. L. 90-364, Sec. 103(c)(1), substituted ‘80 percent’ for ‘70 percent’.
Subsec. (d)(1). Pub. L. 90-364, Sec. 103(e)(1), struck out ‘reduced by $100,000’ after ‘The tax shown on the return of the corporation for the preceding taxable year’.
Subsec. (d)(3)(A). Pub. L. 90-364, Sec. 103(c)(1), substituted ‘80 percent’ for ‘70 percent’.
Subsec. (e). Pub. L. 90-364, Sec. 103(c)(2), designated existing provisions as par. (1) under a heading ‘In general’, in such redesignated par. (1) substituted ‘For purposes of subsections (b) and (d)’ for ‘For purposes of subsections (b), (d)(2), and (d)(3)’ in introductory text, redesignated as subpar. (A) former par. (1) and as subpar. (B) former par. (2), struck out reference to $100,000 as one factor in the sum required for redesignated subpar. (B) and added cls. (ii) and (iii), and added pars. (2), (3), and (4) under headings ‘Temporary estimated tax exemption’, ‘Transitional exemption’, and ‘Special rule for subsection (d)(1) and (2)’ respectively.
Subsec. (g). Pub. L. 90-364, Sec. 103(d)(2), added subsec. (g).
1964 - Subsec. (c)(2). Pub. L. 88-272, Sec. 122(c)(1), substituted ‘any installment date’ and ‘such installment date’ for ‘the 15th day of the 12th month’.
Subsec. (d)(3). Pub. L. 88-272, Sec. 122(c)(2), redesignated cls. (A)(i) and (ii) as (A)(iii) and (iv), respectively, added cls. (A)(i) and (ii), and substituted ‘(3, 5, 6, 8, 9,)’ for ‘(6 or 8, or 9)’ in subpar. (B)(ii).
EFFECTIVE DATE OF 2018 AMENDMENTS
Amendments by Pub. L. 115-141, Div. U, Sec. 401(d), effective March 23, 2018. Section 401(e) of Pub. L. 115-141, Div. U, provided the following savings provision:
“(e) GENERAL SAVINGS PROVISION WITH RESPECT TO DEADWOOD PROVISIONS.—If—
“(1) any provision amended or repealed by the amendments made by subsection (b) or (d) applied to—
“(A) any transaction occurring before the date of the enactment of this Act,
“(B) any property acquired before such date of enactment, or
“(C) any item of income, loss, deduction, or credit taken into account before such date of enactment, and
“(2) the treatment of such transaction, property, or item under such provision would (without regard to the amendments or repeals made by such subsection) affect the liability for tax for periods ending after such date of enactment,
“nothing in the amendments or repeals made by this section shall be construed to affect the treatment of such transaction, property, or item for purposes of determining liability for tax for periods ending after such date of enactment.”
EFFECTIVE DATE OF 2017 AMENDMENTS
Amendments by Sec. 12001(b) of Pub. L. 115-97 effective for taxable years beginning after December 31, 2017.
Amendment by Sec. 13001(b)(2)(P) of Pub. L. 115-97 effective for taxable years beginning after December 31, 2017.
Sec. 13001(d) of Pub. L. 115-97 provided the following rule:
“(d) Normalization Requirements.--
“ (1) In general.--A normalization method of accounting shall not be treated as being used with respect to any public utility property for purposes of section 167 or 168 of the Internal Revenue Code of 1986 if the taxpayer, in computing its cost of service for ratemaking purposes and reflecting operating results in its regulated books of account, reduces the excess tax reserve more rapidly or to a greater extent than such reserve would be reduced under the average rate assumption method.
“(2) Alternative method for certain taxpayers.--If, as of the first day of the taxable year that includes the date of enactment of this Act--
“(A) the taxpayer was required by a regulatory agency to compute depreciation for public utility property on the basis of an average life or composite rate method, and
“(B) the taxpayer's books and underlying records did not contain the vintage account data necessary to apply the average rate assumption method, the taxpayer will be treated as using a normalization method of accounting if, with respect to such jurisdiction, the taxpayer uses the alternative method for public utility property that is subject to the regulatory authority of that jurisdiction.
“(3) Definitions.--For purposes of this subsection-- (A) Excess tax reserve.--The term “excess tax reserve” means the excess of--
“(i) the reserve for deferred taxes (as described in section 168(i)(9)(A)(ii) of the Internal Revenue Code of 1986) as of the day before the corporate rate reductions provided in the amendments made by this section take effect, over
“(ii) the amount which would be the balance in such reserve if the amount of such reserve were determined by assuming that the corporate rate reductions provided in this Act were in effect for all prior periods.
“(B) Average rate assumption method.--The average rate assumption method is the method under which the excess in the reserve for deferred taxes is reduced over the remaining lives of the property as used in its regulated books of account which gave rise to the reserve for deferred taxes. Under such method, during the time period in which the timing differences for the property reverse, the amount of the adjustment to the reserve for the deferred taxes is calculated by multiplying--
“(i) the ratio of the aggregate deferred taxes for the property to the aggregate timing differences for the property as of the beginning of the period in question, by
“(ii) the amount of the timing differences which reverse during such period.
“(C) Alternative method.--The “alternative method” is the method in which the taxpayer--
“(i) computes the excess tax reserve on all public utility property included in the plant account on the basis of the weighted average life or composite rate used to compute depreciation for regulatory purposes, and
“(ii) reduces the excess tax reserve ratably over the remaining regulatory life of the property.
“(4) Tax increased for normalization violation.--If, for any taxable year ending after the date of the enactment of this Act, the taxpayer does not use a normalization method of accounting for the corporate rate reductions provided in the amendments made by this section--
“(A) the taxpayer's tax for the taxable year shall be increased by the amount by which it reduces its excess tax reserve more rapidly than permitted under a normalization method of accounting, and
“(B) such taxpayer shall not be treated as using a normalization method of accounting for purposes of subsections (f)(2) and (i)(9)(C) of section 168 of the Internal Revenue Code of 1986.”
Amendments by Sec. 14401(d)(4) of Pub. L. 115-97 effective for base erosion payments (as defined in section 59A(d) of the Internal Revenue Code of 1986, as added by this section [Sec. 14401]) paid or accrued in taxable years beginning after December 31, 2017.
EFFECTIVE DATE OF 2015 AMENDMENT
Amendment by Pub. L. 114-41, Sec. 2006(a)(2), effective for returns for taxable years beginning after December 31, 2015. Section 2006(a)(3)(B), provided the following special rule:
“(B) SPECIAL RULE FOR C CORPORATIONS WITH FISCAL YEARS ENDING ON JUNE 30.—In the case of any C corporation with a taxable year ending on June 30, the amendments made by this subsection shall apply to returns for taxable years beginning after December 31, 2025.”
EFFECTIVE DATE OF 2014 AMENDMENTS
Amendments by Pub. L. 113-295, Div. A, Sec. 221(a), effective on the date of the enactment of this Act [Enacted: Dec. 19, 2014].
Section 221(b)(2) of Pub. L. 113-295, Div. A, provided the following Savings Provision:
“(2) SAVINGS PROVISION.—If—
“(A) any provision amended or repealed by the amendments made by this section applied to—
“(i) any transaction occurring before the date of the enactment of this Act [Enacted: Dec. 19, 2014],
“(ii) any property acquired before such date of enactment, or
“(iii) any item of income, loss, deduction, or credit taken into account before such date of enactment, and
“(B) the treatment of such transaction, property, or item under such provision would (without regard to the amendments or repeals made by this section) affect the liability for tax for periods ending after date of enactment, nothing in the amendments or repeals made by this section shall be construed to affect the treatment of such transaction, property, or item for purposes of determining liability for tax for periods ending after such date of enactment.”
EFFECTIVE DATE OF 1999 AMENDMENT
Amendment by Sec. 571(a) of Pub. L. 106-170 applicable to estimated tax payments due on or after December 15, 1999.
EFFECTIVE DATE OF 1997 AMENDMENTS
Amendment by Sec. 1461(a) of Pub. L. 105-34 applicable for purposes of determining underpayments of estimated tax for taxable years beginning after the date of the enactment of this Act [enacted: Aug. 5, 1997].
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by Pub. L. 104-188, effective as if included in the provision of the Revenue Reconciliation Act of 1993 to which such amendment relates.
EFFECTIVE DATE OF 1993 AMENDMENTS
Amendments by Pub. L. 103-66, Sec. 13225, effective for tax years beginning after December 31, 1993.
EFFECTIVE DATE OF 1992 AMENDMENTS
Amendments by Pub. L. 102-318, Sec. 512, effective for tax years beginning after June 30, 1992.
EFFECTIVE DATE OF 1991 AMENDMENTS
Amendments by Sec. 201 by Pub. L. 102-227 effective for tax years beginning after December 31, 1991.
Amendment by Pub. L. 102-244, effective for tax years beginning after Dec. 31, 1992.
EFFECTIVE DATE OF 1989 AMENDMENT
Section 7209(b) of Pub. L. 101-239 provided that: ‘The amendment made by subsection (a) (amending this section) shall apply to taxable years beginning after December 31, 1989.’
Amendment by section 7822(a) of Pub. L. 101-239 effective as if included in the provision of the Revenue Act of 1987, Pub. L. 100-203, title X, to which such amendment relates, see section 7823 of Pub. L. 101-239, set out as a note under section 26 of this title.
EFFECTIVE DATE OF 1988 AMENDMENTS
Amendment by section 2004(r) of Pub. L. 100-647 effective, except as otherwise provided, as if included in the provision of the Revenue Act of 1987, Pub. L. 100-203, title X, to which such amendment relates, see section 2004(u) of Pub. L. 100-647, set out as a note under section 56 of this title.
Section 5001(b) of Pub. L. 100-647 provided that: ‘The amendment made by subsection (a) (amending this section) shall apply to installments required to be made after December 31, 1988.’
Amendment by Pub. L. 100-418 applicable to crude oil removed from the premises on or after Aug. 23, 1988, see section 1941(c) of Pub. L. 100-418, set out as a note under section 164 of this title.
EFFECTIVE DATE OF 1987 AMENDMENT
Amendment by Pub. L. 100-203 applicable to taxable years beginning after Dec. 31, 1987, see section 10301(c) of Pub. L. 100-203, set out as a note under section 585 of this title.
EFFECTIVE DATE OF 1986 AMENDMENTS
Amendment by section 701(d)(3) of Pub. L. 99-514 applicable to taxable years beginning after Dec. 31, 1986, with certain exceptions and qualifications, see section 701(f) of Pub. L. 99-514, set out as an Effective Date note under section 55 of this title.
Amendment by section 1511(c)(15) of Pub. L. 99-514 applicable for purposes of determining interest for periods after Dec. 31, 1986, see section 1511(d) of Pub. L. 99-514, set out as a note under section 47 of this title.
Amendment by Pub. L. 99-499 applicable to taxable years beginning after Dec. 31, 1986, see section 516(c) of Pub. L. 99-499, set out as a note under section 26 of this title.
EFFECTIVE DATE OF 1983 AMENDMENT
Amendment by Pub. L. 97-448 effective, except as otherwise provided, as if it had been included in the provision of the Crude Oil Windfall Profit Tax Act of 1980, Pub. L. 96-223, to which such amendment relates, see section 203(a), (b) of Pub. L. 97-448, set out as a note under section 6652 of this title.
EFFECTIVE DATE OF 1982 AMENDMENT
Section 234(e) of Pub. L. 97-248 provided that: ‘The amendments made by this section (amending this section and sections 832, 6081, 6152, and 6164 of this title) shall apply to taxable years beginning after December 31, 1982.’
EFFECTIVE DATE OF 1981 AMENDMENT
Amendment by section 601(a)(6)(B) of Pub. L. 97-34 effective Jan. 1, 1980, see section 601(c)(2) of Pub. L. 97-34, set out as a note under section 6654 of this title.
Section 731(c) of Pub. L. 97-34 provided that: ‘The amendments made by this section (amending this section) shall apply to taxable years beginning after December 31, 1981.’
EFFECTIVE DATE OF 1980 AMENDMENT
Section 1111(c) of Pub. L. 96-499 provided that: ‘The amendments made by this section (amending this section) shall apply to taxable years beginning after December 31, 1980.’
EFFECTIVE DATE OF 1978 AMENDMENT
Amendment by Pub. L. 95-600 applicable to taxable years beginning after Dec. 31, 1978, see section 301(c) of Pub. L. 95-600, set out as a note under section 11 of this title.
EFFECTIVE DATE OF 1976 AMENDMENT
Amendment by section 1906(b)(3)(A)-(C)(i) of Pub. L. 94-455 effective with respect to taxable years after Dec. 31, 1976, see section 1906(d)(2) of Pub. L. 94-455, set out as a note under section 6013 of this title.
EFFECTIVE DATE OF 1975 AMENDMENT
Amendment by Pub. L. 93-625 effective July 1, 1975, and applicable to amounts outstanding on such date or arising thereafter, see section 7(e) of Pub. L. 93-625, set out as an Effective Date note under section 6621 of this title.
EFFECTIVE DATE OF 1968 AMENDMENT
Amendment by Pub. L. 90-364 applicable with respect to taxable years beginning after Dec. 31, 1967, except as provided by section 104 of Pub. L. 90-364, see section 103(f) of Pub. L. 90-364, set out as a note under section 243 of this title.
EFFECTIVE DATE OF 1964 AMENDMENT
Amendment by Pub. L. 88-272 effective, except for purposes of section 21 of this title, with respect to taxable years beginning after Dec. 31, 1963, see section 131 of Pub. L. 88-272, set out as a note under section 1 of this title.
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Pub. L. 114-27, Sec. 803, before repeal by Pub. L. 115-123, Sec. 41118, provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986, in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year)—
“(1) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2020 shall be increased by 8 percent of such amount (determined without regard to any increase in such amount not contained in such Code); and
“(2) the amount of the next required installment after an installment referred to in paragraph (1) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Pub. L. 112-163, Sec. 4 provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986—
“(1) in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year), the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2017 shall be 100.25 percent of such amount; and
“(2) the amount of the next required installment after an installment referred to in paragraph (1) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.”
REPEAL OF CERTAIN SHIFTS IN THE TIMING OF CORPORATE ESTIMATED TAX PAYMENTS.
Section 7001 of Pub. L. 112-96, as amended by Pub. L. 113-295, Div. A, Sec, 203(a), provided:
“The following provisions of law (and any modification of any such provision which is contained in any other provision of law) shall not apply with respect to any installment of corporate estimated tax:
“(1) Section 202(b) of the Corporate Estimated Tax Shift Act of 2009 [Pub. L. 111-42].
“(2) Section 561 of the Hiring Incentives to Restore Employment Act [Pub. L. 111-147].
“(3) Section 505 of the United States-Korea Free Trade Agreement Implementation Act [Pub. L. 112-41].
“(4) Section 603 of the United States-Colombia Trade Promotion Agreement Implementation Act [Pub. L. 112-42].
“(5) Section 502 of the United State-Panama Trade Promotion Agreement Implementation Act [Pub. L. 112-43].”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Section 401 of Pub. L. 109-222, as amended by Pub. L. 110-28, Sec. 8248, Pub. L. 110-42, Sec. 4, Pub. L. 110-52, Sec. 3, Pub. L. 110-89, Sec. 2, Pub. L. 110-138, Sec. 602, Pub. L. 110-142, Sec. 10, Pub. L. 110-191, Sec. 4, Pub. L. 110-246, Sec. 15202, Pub. L. 110-289, Sec. 3094, Pub. L. 110-436, Sec. 6, and Pub. L. 111-3, Sec. 704, provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986, 25 percent of the amount of any required installment of corporate estimated tax which is otherwise due in September 2003 shall not be due until October 1, 2003.”
“(1) in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year)--
“(A) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2006 shall be 105 percent of such amount,
“(B) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2012 shall be 100 percent of such amount,
“(C) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2013 shall be 120.25 percent of such amount, and
“(D) the amount of the next required installment after an installment referred to in subparagraph (A), (B), or (C) shall be appropriately reduced to reflect the amount of the increase by reason of such subparagraph,
“(2) 20.5 percent of the amount of any required installment of corporate estimated tax which is otherwise due in September 2010 shall not be due until October 1, 2010, and
“(3) 27.5 percent of the amount of any required installment of corporate estimated tax which is otherwise due in September 2011 shall not due until October 1, 2011.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-42, Sec. 202(b), to any installment of corporate estimated tax.
NOTE: Pub. L. 111-42, Sec. 202, provided that:
“(a) Repeal of Adjustments for 2010, 2011, and 2013.—Section 401 of the Tax Increase Prevention and Reconciliation Act of 2005 (and any modification of such section contained in any other provision of law) shall not apply with respect to any installment of corporate estimated tax which (without regard to such section) would otherwise be due after December 31, 2009.
“(b) Adjustment for 2014.—Notwithstanding section 6655 of the Internal Revenue Code of 1986—
“(1) in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding corporate estimated tax which is otherwise due in July, August, or September of 2014 shall be 100.25 percent of such amount; and
“(2) the amount of the next required installment after an installment referred to in paragraph (1) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-42, Sec. 202(b), to any installment of corporate estimated tax.
Pub. L. 111-92, Sec. 18, provided that:
“The percentage under paragraph (1) of section 202(b) of the Corporate Estimated Tax Shift Act of 2009 [Pub. L. 111-42] in effect on the date of the enactment of this Act [Enacted: Nov. 6, 2009] is increased by 33.0 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-42, Sec. 202(b), to any installment of corporate estimated tax.
Pub. L. 111-124, Sec. 4, provided that:
“The percentage under paragraph (1) of section 202(b) of the Corporate Estimated Tax Shift Act of 2009 [Pub. L. 111-42] in effect on the date of the enactment of this Act [Enacted: Dec. 28, 2009] is increased by 1.5 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-42, Sec. 202(b), and Pub. L. 111-147, Sec. 561, to any installment of corporate estimated tax.
Pub. L. 111-147, Sec. 561, provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986, in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year)—
“(1) the percentage under paragraph (1) of section 202(b) of the Corporate Estimated Tax Shift Act of 2009 [Pub. L. 111-42] in effect on the date of the enactment of this Act [Enacted: Mar. 18, 2010] is increased by 23 percentage points,
“(2) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2015 shall be 121.5 percent of such amount,
“(3) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2019 shall be 106.5 percent of such amount, and
“(4) the amount of the next required installment after an installment referred to in paragraph (2) or (3) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-42, Sec. 202(b), to any installment of corporate estimated tax.
Pub. L. 111-152, Sec. 1410, provided that:
“The percentage under paragraph (1) of section 202(b) of the Corporate Estimated Tax Shift Act of 2009 [Pub. L. 111-42] in effect on the date of the enactment of this Act [Enacted: Mar. 30, 2010] is increased by 15.75 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-147, Sec. 561, to any installment of corporate estimated tax.
Pub. L. 111-171, Sec. 12, provided that:
“(a) Shift From 2015 to 2014.—The percentage under paragraph (1) of section 202(b) of the Corporate Estimated Tax Shift Act of 2009 [Pub. L. 111-42] in effect on the date of the enactment of this Act [Enacted: May 24, 2010] is increased by 0.75 percentage points.
“(b) Shift From 2016 to 2015.—The percentage under paragraph (2) of section 561 of the Hiring Incentives to Restore Employment Act [Pub. L. 111-147] in effect on the date of the enactment of this Act [Enacted: May 24, 2010] is increased by 0.75 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-147, Sec. 561, to any installment of corporate estimated tax.
Pub. L. 111-210, Sec. 3, provided that:
“The percentage under paragraph (2) of section 561 of the Hiring Incentives to Restore Employment Act [Pub. L. 111-147] in effect on the date of the enactment of this Act [Enacted: July 27, 2010] is increased by 0.25 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-147, Sec. 561, to any installment of corporate estimated tax.
Pub. L. 111-227, Sec. 4002, provided that:
“The percentage under paragraph (2) of section 561 of the Hiring Incentives to Restore Employment Act [Pub. L. 111-147] in effect on the date of the enactment of this Act [Enacted: Aug. 11, 2010] is increased by 0.5 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-147, Sec. 561, to any installment of corporate estimated tax.
Pub. L. 111-237, Sec. 4(a), provided that:
“(a) Time for Payment of Corporate Estimated Taxes.-The percentage under paragraph (2) of section 561 of the Hiring Incentives to Restore Employment Act [Pub. L. 111-147] in effect on the date of the enactment of this Act [Enacted: Aug. 16, 2010] is increased by 0.25 percentage points.
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-147, Sec. 561, to any installment of corporate estimated tax.
Pub. L. 111-240, Sec. 2131, provided that:
“The percentage under paragraph (2) of section 561 of the Hiring Incentives to Restore Employment Act [Pub. L. 111-147] in effect on the date of the enactment of this Act [Enacted: Sept. 27, 2010] is increased by 36 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 111-147, Sec. 561, to any installment of corporate estimated tax.
Pub. L. 111-344, Sec. 302, provided that:
“The percentage under paragraph (2) of section 561 of the Hiring Incentives to Restore Employment Act [Pub. L. 111-147] in effect on the date of the enactment of this Act [Enacted: Dec. 29, 2010] is increased by 4.5 percentage points.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 112-41, Sec. 505, to any installment of corporate estimated tax.
Pub. L. 112-41, Sec. 505, provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986, in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year)—
“(1) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2012 shall be increased by 0.25 percent of such amount (determined without regard to any increase in such amount not contained in such Code);
“(2) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2016 shall be increased by 2.75 percent of such amount (determined without regard to any increase in such amount not contained in such Code); and
“(3) the amount of the next required installment after an installment referred to in paragraph (1) or (2) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 112-42, Sec. 603, to any installment of corporate estimated tax.
Pub. L. 112-42, Sec. 603, provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986, in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year)—
“(1) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2016 shall be increased by 0.50 percent of such amount (determined without regard to any increase in such amount not contained in such Code); and
“(2) the amount of the next required installment after an installment referred to in paragraph (1) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Editor's Note: See “Repeal of certain shifts in the timing of corporate estimated tax payments” note, above, for nonapplication of Pub. L. 112-43, Sec. 502, to any installment of corporate estimated tax.
Pub. L. 112-43, Sec. 502, provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986, in the case of a corporation with assets of not less than $1,000,000,000 (determined as of the end of the preceding taxable year)—
“(1) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2012 shall be increased by 0.25 percent of such amount (determined without regard to any increase in such amount not contained in such Code);
“(2) the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September of 2016 shall be increased by 0.25 percent of such amount (determined without regard to any increase in such amount not contained in such Code); and
“(3) the amount of the next required installment after an installment referred to in paragraph (1) or (2) shall be appropriately reduced to reflect the amount of the increase by reason of such paragraph.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Section 501 of Pub. L. 108-27 provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986, 25 percent of the amount of any required installment of corporate estimated tax which is otherwise due in September 2003 shall not be due until October 1, 2003.”
TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES
Section 801 of Pub. L. 107-16 provided that:
“Notwithstanding section 6655 of the Internal Revenue Code of 1986--
“(1) 100 percent of the amount of any required installment of corporate estimated tax which is otherwise due in September 2001 shall not be due until October 1, 2001; and
“(2) 20 percent of the amount of any required installment of corporate estimated tax which is otherwise due in September 2004 shall not be due until October 1, 2004.”
WAIVER OF ESTIMATED TAX PENALTIES
Sec. 1(d) of Pub. L. 105-34 provided that:
“No addition to tax shall be made under section 6654 or 6655 of the Internal Revenue Code of 1986 for any period before January 1, 1998, for any payment the due date of which is before January 16, 1998, with respect to any underpayment attributable to such period to the extent such underpayment was created or increased by any provision of this Act.”
WAIVER OF ESTIMATED TAX PENALTIES FOR UNDERPAYMENTS ATTRIBUTABLE TO SMALL BUSINESS JOB PROTECTION ACT OF 1996
No addition to the tax shall be made under section 6654 or 6655 of the Internal Revenue Code of 1986 (relating to failure to pay estimated tax) with respect to any underpayment of an installment required to be paid before the date of the enactment of this Act [Aug. 20, 1996] to the extent such underpayment was created or increased by any provision of this title.
WAIVER OF ESTIMATED TAX PENALTIES IN RELATION TO RESEARCH CREDIT
Sec. 1204(f)(3) of Pub. L. 104-188 provided that: ‘The amendments made by this section [amending section 41] shall not be taken into account under section 6654 or 6655 of the Internal Revenue Code of 1986 (relating to failure to pay estimated tax) in determining the amount of any installment required to be paid for a taxable year beginning in 1997.'
WAIVER OF ESTIMATED TAX PENALTIES FOR UNDERPAYMENTS ATTRIBUTABLE TO SECTION 420(b)(4)(B) OF THIS TITLE
No addition to tax to be made under this section for taxable year preceding taxpayer's first taxable year beginning after Dec. 31, 1990, with respect to any underpayment to the extent such underpayment was created or increased by reason of section 420(b)(4)(B) of this title, see section 12011(c)(2) of Pub. L. 101-508, set out as an Effective Date note under section 420 of this title.
WAIVER OF ESTIMATED PENALTIES FOR 1990 UNDERPAYMENTS ATTRIBUTABLE TO REVENUE RECONCILIATION ACT OF 1990
Section 11307 of Pub. L. 101-508 provided that: ‘No addition to tax shall be made under section 6655 of the Internal Revenue Code of 1986 for any period before March 16, 1991, with respect to any underpayment to the extent such underpayment was created or increased by any provision of this part (part I (Sec. 11301-11307) of subtitle C of title XI of Pub. L. 101-508, see Tables for classification).'
APPLICABILITY OF CERTAIN AMENDMENTS BY PUB. L. 99-514 IN RELATION TO TREATY OBLIGATIONS OF UNITED STATES
For applicability of amendment by section 701(d)(3) of Pub. L. 99-514 notwithstanding any treaty obligation of the United States in effect on Oct. 22, 1986, see section 1012(aa)(2) of Pub. L. 100-647, set out as a note under section 861 of this title.
WAIVER OF ESTIMATED PENALTIES FOR 1988 UNDERPAYMENTS ATTRIBUTABLE TO TECHNICAL AND MISCELLANEOUS REVENUE ACT OF 1988
No addition to tax to be made under this section for any period before Mar. 16, 1989, with respect to any underpayment to the extent such underpayment was created or increased by any provision of title I (Sec. 1001 to 1019) or II (Sec. 2001 to 2006) of Pub. L. 100-647, see section 1019(b) of Pub. L. 100-647, set out as an Effective Date of 1988 Amendment note under section 1 of this title.
CORPORATIONS ALSO MAY USE 1986 TAX TO DETERMINE AMOUNT OF CERTAIN ESTIMATED TAX INSTALLMENTS DUE ON OR BEFORE JUNE 15, 1987
Section 10303(b)(2) of Pub. L. 100-203 provided that:
‘(A) In general. - In the case of a large corporation, no addition to tax shall be imposed by section 6655 of the Internal Revenue Code of 1986 with respect to any underpayment of an estimated tax installment to which this subsection applies if no addition would be imposed with respect to such underpayment by reason of section 6655(d)(1) of such Code if such corporation were not a large corporation. The preceding sentence shall apply only to the extent the underpayment is paid on or before the last date prescribed for payment of the most recent installment of estimated tax due on or before September 15, 1987.
‘(B) Installment to which subsection applies. - This subsection applies to any installment of estimated tax for a taxable year beginning after December 31, 1986, which is due on or before June 15, 1987.
‘(C) Large corporation. - For purposes of this subsection, the term ‘large corporation’ has the meaning given such term by section 6655(i)(2) of such Code (as in effect on the day before the date of the enactment of this Act (Dec. 22, 1987)).'
WAIVER OF ESTIMATED PENALTIES FOR 1986 UNDERPAYMENTS ATTRIBUTABLE TO TAX REFORM ACT OF 1986
No addition to tax to be made under this section for any period before Mar. 16, 1987, with respect to any underpayment, to the extent such underpayment was created or increased by any provision of Pub. L. 99-514, see section 1543 of Pub. L. 99-514, set out as a note under section 6654 of this title.
WAIVER OF ESTIMATED TAX PENALTIES
Section 1879(a) of Pub. L. 99-514 provided that: ‘No addition to tax shall be made under section 6654 or 6655 of the Internal Revenue Code of 1954 (now 1986) (relating to failure to pay estimated income tax) for any period before April 16, 1985 (March 16, 1985 in the case of a taxpayer subject to section 6655 of such Code), with respect to any underpayment, to the extent that such underpayment was created or increased by any provision of the Tax Reform Act of 1984 (Pub. L. 98-369, div. A).'
UNDERPAYMENTS OF ESTIMATED TAX FOR 1984
Pub. L. 98-369, div. A, title II, subtitle A, Sec. 218, July 18, 1984, 98 Stat. 766, which provided that no addition to the tax shall be made under section 6655 of this title with respect to any underpayment of an installment required to be paid before July 18, 1984, to the extent such underpayment was created or increased by any provision of this subtitle, and such underpayment was paid in full on or before the last date prescribed for payment of the first installment of estimated tax required to be paid after July 18, 1984, was repealed by Pub. L. 99-514, title XVIII, Sec. 1824, Oct. 22, 1986, 100 Stat. 2846.
WAIVER OF PENALTY FOR UNDERPAYMENT OF ESTIMATED TAX
Section 803(g) of Pub. L. 94-455, as amended by Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100 Stat. 2095, provided that: ‘If -
‘(1) a corporation made underpayments of estimated tax for a taxable year of the corporation which includes August 1, 1975, because the corporation intended to elect to have the provisions of subparagraph (B) of section 46(a)(1) of the Internal Revenue Code of 1986 (formerly I.R.C. 1954) (as it existed before the date of enactment of this Act (Oct. 4, 1976)) apply for such taxable year, and
‘(2) the corporation does not elect to have the provisions of such subparagraph apply for such taxable year because this Act does not contain the amendments made by section 804(a)(2) (relating to flowthrough of investment credit), or the provisions of subsection (f) of such section (relating to grace period for certain plan transfers), of the bill H.R. 10612 (94th Congress, 2d Session), as amended by the Senate, then the provisions of section 6655 of such Code (relating to failure by corporation to pay estimated income tax) shall not apply to so much of any such underpayment as the corporation can establish, to the satisfaction of the Secretary of the Treasury, is properly attributable to the inapplicability of such subparagraph (B) for such taxable year.’
DECLARATION OF ESTIMATED TAX
With respect to taxable years beginning before Dec. 30, 1969, if a taxpayer is required to make a declaration, or to pay any amount of estimated tax by reason of amendments made by Pub. L. 91-172, such amount shall be paid ratably on each of the remaining installment dates for the taxable year beginning with the first installment date on or after Dec. 30, 1969; as to any declaration or payment of estimated tax before the first installment date, this section, and sections 6015, 6154, and 6654 of this title shall be applied without regard to amendments made by Pub. L. 91-172, see section 946(b) of Pub. L. 91-172, set out as a note under section 6153 of this title.
TAX SURCHARGE EXTENSION; DECLARATIONS OF ESTIMATED TAX
Requirement of making a declaration or amended declaration of estimated tax or of payment of any amount or additional amount of estimated tax by reason of amendment of sections 51(a)(1)(A), (B), (2)(A) and 963(b) of this title as calling for payment of such amount or additional amount ratably on or before each of remaining installment dates for taxable year beginning with installment date on or after the 30th day after Aug. 7, 1969; application of this section without regard to such amendment with respect to any declaration or payment of estimated tax before such first installment date; and definition of ‘installment date’, see Pub. L. 93-53, Sec. 5(c), Aug. 7, 1969, 83 Stat. 95.
ESTIMATED TAX OF LIFE INSURANCE COMPANIES FOR 1958
Pub. L. 86-69, June 25, 1959, Sec. 3(h), 73 Stat. 140, provided that in the case of a taxpayer subject to tax under section 811 of this title, as in effect before June 25, 1959, no additional tax was to be payable under this section with respect to estimated tax for a taxable year beginning in 1958.