§466 — Repealed. Pub. L. 99–514, title VIII, § 823(a), Oct. 22, 1986, 100 Stat. 2373]
11 cases·11 cited
Statute Text — 26 U.S.C. §466
[§ 466. Repealed. Pub. L. 99–514, title VIII, § 823(a), Oct. 22, 1986, 100 Stat. 2373] Section, added Pub. L. 95–600, title III, § 373(a), Nov. 6, 1978, 92 Stat. 2863; amended Pub. L. 96–222, title I, § 103(a)(16), Apr. 1, 1980, 94 Stat. 214, related to qualified discount coupons redeemed after close of taxable year. Statutory Notes and Related Subsidiaries Effective Date of RepealPub. L. 99–514, title VIII, § 823(c), Oct. 22, 1986, 100 Stat. 2374, provided: “(1) In general.—The amendments made by this section [amending section 461 of this title and repealing this section] shall apply to taxable years beginning after December 31, 1986. “(2) Change in method of accounting.—In the case of any taxpayer who elected to have section 466 of the Internal Revenue Code of 1954 [now 1986] apply for such taxpayer’s last taxable year beginning before January 1, 1987, and is required to change its method of accounting by reason of the amendments made by this section for any taxable year—“(A) such change shall be treated as initiated by the taxpayer, “(B) such change shall be treated as having been made with the consent of the Secretary, and “(C) the net amount of adjustments required by section 481 of the Internal Revenue Code of 1986 to be taken into account by the taxpayer shall—“(i) be reduced by the balance in the suspense account under section 466(e) of such Code as of the close of such last taxable year, and “(ii) be taken into account over a period not longer than 4 years.”
Treasury Regulations
- Treas. Reg. §Treas. Reg. §1.466-1 Method of accounting for the redemption cost of qualified discount coupons
- Treas. Reg. §Treas. Reg. §1.466-1(a) Introduction.
- Treas. Reg. §Treas. Reg. §1.466-1(b) Redemption costs—(1) Costs deductible under section 466.
- Treas. Reg. §Treas. Reg. §1.466-1(c) Qualified discount coupons—(1) General rule.
- Treas. Reg. §Treas. Reg. §1.466-1(d) Deduction for coupons redeemed during the redemption period—(1) General rule.
- Treas. Reg. §Treas. Reg. §1.466-1(e) Transitional adjustment—(1) In general.
- Treas. Reg. §Treas. Reg. §1.466-1(f) Subchapter C transactions—(1) General rule.
- Treas. Reg. §Treas. Reg. §1.466-1(i) §1.466-1(i)
- Treas. Reg. §Treas. Reg. §1.466-1(v) There must exist a redemption chain (as defined in paragraph (c)(2)(ii) of this section) with respect to the coupon.
- Treas. Reg. §Treas. Reg. §1.466-2 Special protective election for certain taxpayers
- Treas. Reg. §Treas. Reg. §1.466-2(a) General rule.
- Treas. Reg. §Treas. Reg. §1.466-2(b) Requirements.
- Treas. Reg. §Treas. Reg. §1.466-2(c) Amount to be subtracted from gross receipts.
- Treas. Reg. §Treas. Reg. §1.466-2(d) Right to amend prior tax returns.
- Treas. Reg. §Treas. Reg. §1.466-2(e) Suspense account not required.
- Treas. Reg. §Treas. Reg. §1.466-2(f) Definition: reasonably similar.
- Treas. Reg. §Treas. Reg. §1.466-3 Manner of and time for making election under section 466
- Treas. Reg. §Treas. Reg. §1.466-3(a) In general.
- Treas. Reg. §Treas. Reg. §1.466-3(b) Manner of and time for making election—(1) General rule.
- Treas. Reg. §Treas. Reg. §1.466-3(c) Required information.
- Treas. Reg. §Treas. Reg. §1.466-3(i) §1.466-3(i)
- Treas. Reg. §Treas. Reg. §1.466-4 Manner of and time for making election under section 373(c) of the Revenue Act of 1978
- Treas. Reg. §Treas. Reg. §1.466-4(a) In general.
- Treas. Reg. §Treas. Reg. §1.466-4(b) Manner of and time for making election—(1) General rule.
- Treas. Reg. §Treas. Reg. §1.466-4(c) Required information.
11 Citing Cases
466.406 (Vernon 1998). However, Texas law changed effective September 1, 1999, prior to - 14 - the issuance of the declaratory judgment assigning Mr. Clopton’s beneficial interest in the trust to Singer. Id. secs. 466.406, 466.410 (Vernon Supp. 2004). The new law allows the assignment of the right to receive lottery payments to a person desig
466.410 (Vernon Supp. 2001) to allow assignment of future lottery payments. On September 9, 1999, the estate appealed respondent's abatement request denial and asserted that, prior to the September 1 effective date, neither the estate nor the partnership could have borrowed against the lottery proceeds to pay the estate tax. Appeals, on Februa