26 U.S.C. § 843 — Annual accounting period

in plain englishAI-generated · not legal advice

This section sets the annual accounting period for the taxpayers covered by the provision.

For purposes of this subtitle, the annual accounting period for each insurance company subject to a tax imposed by this subchapter shall be the calendar year. Under regulations prescribed by the Secretary, an insurance company which joins in the filing of a consolidated return (or is required to so file) may adopt the taxable year of the common parent corporation even though such year is not a calendar year.

the actual law source: uscode.house.gov ↗public domain

For purposes of this subtitle, the annual accounting period for each insurance company subject to a tax imposed by this subchapter shall be the calendar year. Under regulations prescribed by the Secretary, an insurance company which joins in the filing of a consolidated return (or is required to so file) may adopt the taxable year of the common parent corporation even though such year is not a calendar year.

Source credit: (Added Mar. 13, 1956, ch. 83, § 4(a), 70 Stat. 48; amended Pub. L. 94–455, title XV, § 1507(b)(2), Oct. 4, 1976, 90 Stat. 1740.)

history & why it existsrecord from the source credit

1956Enacted · Act of Mar. 13, 1956, ch. 83 · 70 Stat. 48
1976Amended · Pub. L. 94-455 · 90 Stat. 1740

A history note hasn’t been published yet. The record shows enactment by ch. 83 on 1956-03-13.