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Internal Revenue Code, § 7523. Graphic Presentation Of Major Categories Of Federal Outlays And Income.

I.R.C. § 7523(a) General Rule.--
In the case of any booklet of instructions for Form 1040, 1040A, or 1040EZ prepared by the Secretary for filing individual income tax returns for taxable years beginning in any calendar year, the Secretary shall include in a prominent place--
I.R.C. § 7523(a)(1)
a pie-shaped graph showing the relative sizes of the major outlay categories, and
I.R.C. § 7523(a)(2)
a pie-shaped graph showing the relative sizes of the major income categories.
I.R.C. § 7523(b) Definitions And Special Rules.--
For purposes of subsection (a)--
I.R.C. § 7523(b)(1) Major Outlay Categories.--
The term “major outlay categories” means the following:
I.R.C. § 7523(b)(1)(A)
Defense, veterans, and foreign affairs.
I.R.C. § 7523(b)(1)(B)
Social security, medicare, and other retirement.
I.R.C. § 7523(b)(1)(C)
Physical, human, and community development.
I.R.C. § 7523(b)(1)(D)
Social programs.
I.R.C. § 7523(b)(1)(E)
Law enforcement and general government.
I.R.C. § 7523(b)(1)(F)
Interest on the debt.
I.R.C. § 7523(b)(2) Major Income Categories.--
The term “major income categories” means the following:
I.R.C. § 7523(b)(2)(A)
Social security, medicare, and unemployment and other retirement taxes.
I.R.C. § 7523(b)(2)(B)
Personal income taxes.
I.R.C. § 7523(b)(2)(C)
Corporate income taxes.
I.R.C. § 7523(b)(2)(D)
Borrowing to cover the deficit.
I.R.C. § 7523(b)(2)(E)
Excise, customs, estate, gift, and miscellaneous taxes.
I.R.C. § 7523(b)(3) Required Footnotes.--
The pie-shaped graph showing the major outlay categories shall include the following footnotes:
I.R.C. § 7523(b)(3)(A)
A footnote to the category referred to in paragraph (1)(A) showing the percentage of the total outlays which is for defense, the percentage of total outlays which is for veterans, and the percentage of total outlays which is for foreign affairs.
I.R.C. § 7523(b)(3)(B)
A footnote to the category referred to in paragraph (1)(C) showing that such category consists of agriculture, natural resources, environment, transportation, education, job training, economic development, space, energy, and general science.
I.R.C. § 7523(b)(3)(C)
A footnote to the category referred to in paragraph (1)(D) showing the percentage of the total outlays which is for medicaid, supplemental nutrition assistance program benefits, and assistance under a State program funded under part A of title IV of the Social Security Act and the percentage of total outlays which is for public health, unemployment, assisted housing, and social services.
I.R.C. § 7523(b)(4) Data On Which Graphs Are Based.--
The graphs required under subsection (a) shall be based on data for the most recent fiscal year for which complete data is available as of the completion of the preparation of the instructions by the
Secretary.
(Added Pub. L. 101-508, title XI, Sec. 11622(a), Nov. 5, 1990, 104 Stat. 1388-504; amended by Pub. L. 104-193, title I, 110(l)(8), Aug. 22, 1996, 110 Stat. 2105.)
Background Notes
EFFECTIVE DATE
Section 11622(c) of Pub. L. 101-508 provided that: “The amendments made by this section (enacting this section) shall apply to instructions prepared for taxable years beginning after 1990.”
Amendments
1996--Sec. (b)(3)(C). Pub. L. 104-193, sec. 110(l)(4), as redesignated by Pub. L. 105-33, Sec. 5514(a)(1), substituted “aid to families with dependent children” with “assistance under a State program funded under part A of title IV of the Social Security Act”.
Effective Date of 1996 Amendment
Section 116 of Pub. L. 104-193 provided that: “Except as otherwise provided in this title, this title and the amendments made by this title shall take effect on July 1, 1997.”