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26 U.S.C. § 644 — Taxable year of trusts

submitted 40 years ago by Pub. L. 99-514 to r/title-26-INTERNAL-REVENUE-CODE · 51 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section addresses taxable year of trusts. It states the rules and requirements in the section.

(a) In general. For this subtitle, a trust uses the calendar year as its taxable year. (b) Exception. This rule does not apply to a trust exempt from tax under section 501(a) or described in section 4947(a)(1).
the actual law source: uscode.house.gov ↗public domain
(a) In general

For purposes of this subtitle, the taxable year of any trust shall be the calendar year.

(b) Exception for trusts exempt from tax and charitable trusts

Subsection (a) shall not apply to a trust exempt from taxation under section 501(a) or to a trust described in section 4947(a)(1).

Source credit: (Added Pub. L. 99–514, title XIV, § 1403(a), Oct. 22, 1986, 100 Stat. 2713, § 645; renumbered § 644, Pub. L. 105–34, title V, § 507(b)(1), Aug. 5, 1997, 111 Stat. 856.)

history & why it existsrecord from the source credit
  • 1986Enacted · Pub. L. 99-514 · 100 Stat. 2713
  • 1997Amended · Pub. L. 105-34 · 111 Stat. 856

A history note hasn’t been published yet. The record shows enactment by Pub. L. 99-514 on 1986-10-22.

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