Treasury Regulations (26 C.F.R.)
26 CFR § 1.1377-3
Applicability dates.
# (a) In general.
Except as otherwise provided in this section, §§ 1.1377-1 and 1.1377-2 apply to taxable years of an S corporation beginning after December 31, 1996.
# (b) Certain conversions.
Section 1.1377-1(a)(2)(iii) and (c)(3) (Example 3) are applicable for taxable years beginning on and after May 14, 2002.
# (c)
Special treatment of distributions of money during post-termination transition period—(1) In general. Except as provided in paragraph (c)(2) of this section, § 1.1377-2(b) applies to taxable years beginning after October 20, 2020. For taxable years beginning on or before October 20, 2020, see § 1.1377-2(b) as contained in 26 CFR part 1, revised April 1, 2020.
(2) Taxable years beginning on or before October 20, 2020. A corporation may choose to apply § 1.1377-2(b) to taxable years beginning on or before October 20, 2020 and with respect to which the period described in section 6501(a) has not expired. If a corporation makes the choice described in the previous sentence, all shareholders of the corporation must report consistently, and the corporation must adopt §§ 1.481-5, 1.1371-1, 1.1371-2, if an ETSC, and 1.1377-2(b) in their entity and continue to apply those rules in their entirety for the corporation's subsequent taxable years.
[T.D. 9914, 85 FR 66484, Oct. 20, 2020]
Source: view the official text
In this part (40 sections)
- 1.1368-2 · Accumulated adjustments account (AAA).
- 1.1368-3 · Examples.
- 1.1368-4 · Effective date and transition rule.
- 1.1371-1 · Distributions of money by an eligible terminated S…
- 1.1371-2 · Impact of Audit PTTP on ETSC Period.
- 1.1374-0 · Table of contents.
- 1.1374-1 · General rules and definitions.
- 1.1374-2 · Net recognized built-in gain.
- 1.1374-3 · Net unrealized built-in gain.
- 1.1374-4 · Recognized built-in gain or loss.
- 1.1374-5 · Loss carryforwards.
- 1.1374-6 · Credits and credit carryforwards.
- 1.1374-7 · Inventory.
- 1.1374-8 · Section 1374(d)(8) transactions.
- 1.1374-9 · Anti-stuffing rule.
- 1.1374-10 · Effective date and additional rules.
- 1.1375-1 · Tax imposed when passive investment income of corporation…
- 1.1377-0 · Table of contents.
- 1.1377-1 · Pro rata share.
- 1.1377-2 · Post-termination transition period.
- 1.1377-3 · Applicability dates.
- 1.1378-1 · Taxable year of S corporation.
- 1.1374-1A · Tax imposed on certain capital gains.
- 1.1381-1 · Organizations to which part applies.
- 1.1381-2 · Tax on certain farmers' cooperatives.
- 1.1382-1 · Taxable income of cooperatives; gross income.
- 1.1382-2 · Taxable income of cooperatives; treatment of patronage…
- 1.1382-3 · Taxable income of cooperatives; special deductions for…
- 1.1382-4 · Taxable income of cooperatives; payment period for each…
- 1.1382-5 · Taxable income of cooperatives; products marketed under…
- 1.1382-6 · Taxable income of cooperatives; treatment of earnings…
- 1.1382-7 · Special rules applicable to cooperative associations exempt…
- 1.1383-1 · Computation of tax where cooperative redeems nonqualified…
- 1.1385-1 · Amounts includible in patron's gross income.
- 1.1388-1 · Definitions and special rules.
- 1.1394-0 · Table of contents.
- 1.1394-1 · Enterprise zone facility bonds.
- 1.1396-1 · Qualified zone employees.
- 1.1397E-1 · Qualified zone academy bonds.
- 1.1398-1 · Treatment of passive activity losses and passive activity…