§1240 — Repealed. Pub. L. 94–455, title XIX, § 1901(a)(139), Oct. 4, 1976, 90 Stat. 1787]
3 cases·1 followed·1 overruled·1 cited—33% support
Statute Text — 26 U.S.C. §1240
[§ 1240. Repealed. Pub. L. 94–455, title XIX, § 1901(a)(139), Oct. 4, 1976, 90 Stat. 1787] Section, act Aug. 16, 1954, ch. 736, 68A Stat. 332, related to taxability to employee of termination payments. Statutory Notes and Related Subsidiaries Effective Date of RepealRepeal applicable with respect to taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 2 of this title.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §1.1240-1 Capital gains treatment of certain termination payments
- Treas. Reg. §Treas. Reg. §1.1240-1(a) §1.1240-1(a)
- Treas. Reg. §Treas. Reg. §1.1240-1(b) §1.1240-1(b)
- Treas. Reg. §Treas. Reg. §1.1240-1(c) §1.1240-1(c)
- Treas. Reg. §Treas. Reg. §1.1240-1(d) §1.1240-1(d)
- Treas. Reg. §Treas. Reg. §1.1240-1(e) The total amount to which the employee became entitled pursuant to the assignment or release was received by the employee after the termination of his employment with such employer and in one taxable year of the employee.
3 Citing Cases
C.J.L.G., a Juvenile Male v. William Barr
Victor Jimenez-Rodriguez v. Merrick Garland