Treasury Regulations (26 C.F.R.)
26 CFR § 1.6655(e)-1
Time and manner for making election under the Omnibus Budget Reconciliation Act of 1993.
# (a) Description.
Section 6655(e)(2)(C), as added by section 13225 of the Omnibus Budget Reconciliation Act of 1993 (Pub. L. 103-66, 107 Stat. 486), allows a corporate taxpayer to make an annual election to use a different annualization period to determine annualized income for purposes of paying any required installment of estimated income tax for a taxable year beginning after December 31, 1993.
# (b) Time and manner for making the election.
An election under section 6655(e)(2)(C) must be made on or before the date required for the payment of the first required installment for the taxable year. For a calendar or fiscal year corporation, Form 8842, Election to Use Different Annualization Periods for Corporate Estimated Tax, must be filed by the 15th day of the 4th month of the taxable year for which the election is to apply. Form 8842 must be filed with the Internal Revenue Service Center where the corporation files its income tax return.
# (c) Revocability of election.
The election described in this section is irrevocable.
# (d) Effective date.
The rules set forth in this section are effective December 12, 1996.
[T.D. 8688, 61 FR 65322, Dec. 12, 1996]
Source: view the official text
In this part (40 sections)
- 1.6418-5 · Special rules.
- 1.6425-1 · Adjustment of overpayment of estimated income tax by…
- 1.6425-2 · Computation of adjustment of overpayment of estimated tax.
- 1.6425-3 · Allowance of adjustments.
- 1.6654-1 · Addition to the tax in the case of an individual.
- 1.6654-2 · Exceptions to imposition of the addition to the tax in the…
- 1.6654-3 · Short taxable years of individuals.
- 1.6654-4 · [Reserved]
- 1.6654-5 · Payments of estimated tax.
- 1.6654-6 · Nonresident alien individuals.
- 1.6654-7 · Applicability.
- 1.6655-0 · Table of contents.
- 1.6655-1 · Addition to the tax in the case of a corporation.
- 1.6655-2 · Annualized income installment method.
- 1.6655-2T · Safe harbor for certain installments of tax due before July…
- 1.6655-3 · Adjusted seasonal installment method.
- 1.6655-4 · Large corporations.
- 1.6655-5 · Short taxable year.
- 1.6655-6 · Methods of accounting.
- 1.6655-7 · Addition to tax on account of excessive adjustment under…
- 1.6655(e)-1 · Time and manner for making election under the Omnibus…
- 1.6662-0 · Table of contents.
- 1.6662-1 · Overview of the accuracy-related penalty.
- 1.6662-2 · Accuracy-related penalty.
- 1.6662-3 · Negligence or disregard of rules or regulations.
- 1.6662-4 · Substantial understatement of income tax.
- 1.6662-5 · Substantial and gross valuation misstatements under chapter…
- 1.6662-5T · Substantial and gross valuation misstatements under chapter…
- 1.6662-6 · Transactions between persons described in section 482 and…
- 1.6662-7 · Omnibus Budget Reconciliation Act of 1993 changes to the…
- 1.6662-9 · Inconsistent estate basis reporting.
- 1.6664-0 · Table of contents.
- 1.6664-1 · Accuracy-related and fraud penalties; definitions, effective…
- 1.6664-2 · Underpayment.
- 1.6664-3 · Ordering rules for determining the total amount of penalties…
- 1.6664-4 · Reasonable cause and good faith exception to section 6662…
- 1.6664-4T · Reasonable cause and good faith exception to section 6662…
- 1.6694-0 · Table of contents.
- 1.6694-1 · Section 6694 penalties applicable to tax return preparers.
- 1.6694-2 · Penalty for understatement due to an unreasonable position.