§7641 — Repealed. Pub. L. 94–455, title XIX, § 1906(a)(54), Oct. 4, 1976, 90 Stat. 1832]
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Statute Text — 26 U.S.C. §7641
[§ 7641. Repealed. Pub. L. 94–455, title XIX, § 1906(a)(54), Oct. 4, 1976, 90 Stat. 1832] Section, acts Aug. 16, 1954, ch. 736, 68A Stat. 905; Oct. 27, 1970, Pub. L. 91–513, title III, § 1102(i), 84 Stat. 1293; Oct. 26, 1974, Pub. L. 93–490, § 3(b)(8), 88 Stat. 1467, related to supervision of operations of every manufacturer of oleomargarine, process or renovated butter or adulterated butter, or white phosphorous matches by the officers or employees of the Treasury Department. Statutory Notes and Related Subsidiaries Effective Date of RepealRepeal effective on first day of first month which begins more than 90 days after Oct. 4, 1976, see section 1906(d)(1) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 6013 of this title.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §301.7641-1 Supervision of operations of certain manufacturers
8 Citing Cases
m gross income to the extent: (1) The cause of action underlying the recovery of the proceeds is based upon tort or tort type rights, and (2) the proceeds are received on account of a personal injury or sickness.1 That section is inapplicable when 1 Sec. 7641(a) of the Omnibus Budget Reconciliation Act of 1989, Pub. L. 101-239, 103 Stat. 2106, 2379, amended sec. 104(a)(2) to provide that the personal injury exclusion contained therein does not apply where the punitive damages are received in con
ss received (A) under a written agreement, court decree, or mediation award in effect, or issued on or before, July .10, 1989, or (B) pursuant to any suit filed on or before July 10, 1989. Omnibus Budget Reconciliation Act of 1989, Pub. L. 101-239, sec. 7641, 103 Stat. 2379. Because the discharge of indebtedness occurred after July 10, 1989, and. was pursuant to an arbitration claim rather than the filing of a suit, the amendment applies to the discharge of indebtedness. - 18 - sickness, even if
was first amended to address punitive damages to eliminate from the exclusion "punitive damages in * * * a case not involving physical injury or physical sickness", effective July 10, 1989. Omnibus Budget Reconciliation Act of 1989, Pub. L. 101-239, sec. 7641, 103 Stat. 2379. The Supreme Court held that this amendment did not imply that all other punitive damages were excluded from that section because the provision was intended as a legislative compromise regarding nonphysical injuries, or simp
6015(c)(1), 112 Stat. 821); Small Business Job Protection Act of 1996, Pub. L. 104-188, sec. 1605(a), 110 Stat. 1838 (restricting sec. 104(a)(2) to personal physical injuries and sickness); Omnibus Budget Reconciliation Act of 1989, Pub. L. 101-239, sec. 7641(a), 103 Stat. 2379 (making sec. 104(a)(2) inapplicable with respect to punitive damages in connection with a case not involving physical injury or physical sickness); Act of Jan. 14, 1983, Pub. L. 97- 473, sec. 101(a), 96 Stat. 2605 (amendi