r/title-26-INTERNAL-REVENUE-CODE wiki — defined terms

“greenmail” applies in that section

the term “greenmail” means any consideration transferred by a corporation (or any person acting in concert with such corporation) to directly or indirectly acquire stock of such corporation from any shareholder if— (1) such shareholder held such stock (as determined under section 1223) for less than 2 years before entering into the agreement to make the transfer, (2) at some time during the 2-year period ending on the date of such acquisition— (A) such shareholder, (B) any person acting in concert with such shareholder, or (C) any person who is related to such shareholder or person described in subparagraph (B), made or threatened to make a public tender offer for stock of such corporation, …

“public tender offer” applies in that section

The term “public tender offer” means any offer to purchase or otherwise acquire stock or assets in a corporation if such offer was or would be required to be filed or registered with any Federal or State agency regulating securities. (2) Related person A person is related to another person if the relationship between such persons would result in the disallowance of losses under section 267 or 707(b). (d) Tax applies whether or not amount recognized The tax imposed by this section shall apply whether or not the gain or other income referred to in subsection (a) is recognized.

“applicable State court” applies in that section

The term “applicable State court” means, with respect to any applicable State statute, a court of the State which enacted such statute. (B) Special rule In the case of an applicable State statute described in paragraph (3)(B), such term also includes a court of the State in which the payee of the structured settlement is domiciled. (5) Qualified order dispositive A qualified order shall be treated as dispositive for purposes of the exception under this subsection. (c) Definitions For purposes of this section— (1) Structured settlement

“applicable State statute” applies in that section

the term “applicable State statute” means a statute providing for the entry of an order, judgment, or decree described in paragraph (2)(A) which is enacted by— (A) the State in which the payee of the structured settlement is domiciled, or (B) if there is no statute described in subparagraph (A), the State in which either the party to the structured settlement (including an assignee under a qualified assignment under section 130) or the person issuing the funding asset for the structured settlement is domiciled or has its principal place of business. (4) Applicable State court For purposes of this section— (A) In general

“factoring discount” applies in that section

The term “factoring discount” means an amount equal to the excess of— (A) the aggregate undiscounted amount of structured settlement payments being acquired in the structured settlement factoring transaction, over (B) the total amount actually paid by the acquirer to the person from whom such structured settlement payments are acquired. (5) Responsible administrative authority

“qualified order” applies in that section

the term “qualified order” means a final order, judgment, or decree which— (A) finds that the transfer described in paragraph (1)— (i) does not contravene any Federal or State statute or the order of any court or responsible administrative authority, and (ii) is in the best interest of the payee, taking into account the welfare and support of the payee’s dependents, and (B) is issued— (i) under the authority of an applicable State statute by an applicable State court, or (ii) by the responsible administrative authority (if any) which has exclusive jurisdiction over the underlying action or proceeding which was resolved by means of the structured settlement.

“responsible administrative authority” applies in that section

The term “responsible administrative authority” means the administrative authority which had jurisdiction over the underlying action or proceeding which was resolved by means of the structured settlement. (6) State

“State” applies in that section

The term “State” includes the Commonwealth of Puerto Rico and any possession of the United States. (d) Coordination with other provisions (1) In general If the applicable requirements of sections 72, 104(a)(1), 104(a)(2), 130, and 461(h) were satisfied at the time the structured settlement involving structured settlement payment rights was entered into, the subsequent occurrence of a structured settlement factoring transaction shall not affect the application of the provisions of such sections to the parties to the structured settlement (including an assignee under a qualified assignment under section 130) in any taxable year.

“structured settlement” applies in that section

The term “structured settlement” means an arrangement— (A) which is established by— (i) suit or agreement for the periodic payment of damages excludable from the gross income of the recipient under section 104(a)(2), or (ii) agreement for the periodic payment of compensation under any workers’ compensation law excludable from the gross income of the recipient under section 104(a)(1), and (B) under which the periodic payments are— (i) of the character described in subparagraphs (A) and (B) of section 130(c)(2), and (ii) payable by a person who is a party to the suit or agreement or to the workers’ compensation claim or by a person who has assumed the liability for such periodic payments …

“structured settlement factoring transaction” applies in that section

The term “structured settlement factoring transaction” means a transfer of structured settlement payment rights (including portions of structured settlement payments) made for consideration by means of sale, assignment, pledge, or other form of encumbrance or alienation for consideration.

“structured settlement payment rights” applies in that section

The term “structured settlement payment rights” means rights to receive payments under a structured settlement. (3) Structured settlement factoring transaction (A) In general

“individual income tax return” applies in that section

the term “individual income tax return” means any return of the tax imposed by subtitle A on individuals, estates, or trusts. (D) Exception for certain preparers located in areas without internet access The Secretary may waive the requirement of subparagraph (A) if the Secretary determines, on the basis of an application by the tax return preparer, that the preparer cannot meet such requirement by reason of being located in a geographic area which does not have access to internet service (other than dial-up or satellite service).

“specified tax return preparer” applies in that section

the term “specified tax return preparer” means, with respect to any calendar year, any tax return preparer unless such preparer reasonably expects to file 10 or fewer individual income tax returns during such calendar year. (C) Individual income tax return For purposes of this paragraph,

“exemption amount” applies in that section

The term “exemption amount” has the meaning given such term by section 151(d). In the case of an individual described in section 151(d)(2), the exemption amount shall be zero. (2) Every corporation subject to taxation under subtitle A; (3) Every estate the gross income of which for the taxable year is $600 or more; (4) Every trust having for the taxable year any taxable income, or having gross income of $600 or over, regardless of the amount of taxable income; (5) Every estate or trust of which any beneficiary is a nonresident alien; (6) Every political organization (within the meaning of section 527(e)(1)), and every fund treated under section 527(g) as if it constituted a political …

“exemption amount” applies in that section

the term “exemption amount” has the meaning given to such term by section 151(d). For purposes of clauses (ii) and (iii), if the spouse whose gross income is being compared to the exemption amount is 65 or over, such clauses shall be applied by substituting “the sum of the exemption amount and the additional standard deduction under section 63(c)(2) by reason of section 63(f)(1)(A)” for “the exemption amount”. (B) Credit or refund For purposes of section 6511, a joint return made under this subsection shall be deemed to have been filed on the last date prescribed by law for filing the return for such taxable year (determined without regard to any extension of time granted to either spouse).

“return” applies in that section

the term “return” includes a separate return filed by a spouse with respect to a taxable year for which a joint return is made under this subsection after the filing of such separate return. (c) Treatment of joint return after death of either spouse For purposes of sections 15, 443, and 7851(a)(1)(A), where the husband and wife have different taxable years because of the death of either spouse, the joint return shall be treated as if the taxable years of both spouses ended on the date of the closing of the surviving spouse’s taxable year.

“disqualified asset” applies in that section

The term “disqualified asset” means any property or right to property transferred to an individual making the election under this subsection with respect to a joint return by the other individual filing such joint return if the principal purpose of the transfer was the avoidance of tax or payment of tax.

“understatement” applies in that section

the term “understatement” has the meaning given to such term by section 6662(d)(2)(A). (c) Procedures to limit liability for taxpayers no longer married or taxpayers legally separated or not living together (1) In general Except as provided in this subsection, if an individual who has made a joint return for any taxable year elects the application of this subsection, the individual’s liability for any deficiency which is assessed with respect to the return shall not exceed the portion of such deficiency properly allocable to the individual under subsection (d).

“applicable entity” applies in that section

The term “applicable entity” means the estate or trust of which the taxpayer is the beneficiary. (5) Addition to tax for failure to comply with section For addition to tax in the case of a beneficiary’s negligence in connection with, or disregard of, the requirements of this section, see part II of subchapter A of chapter 68.

“reported item” applies in that section

The term “reported item” means any item for which information is required to be furnished under subsection (a). (B) Applicable entity

“subchapter S item” applies in that section

the term “subchapter S item” means any item of an S corporation to the extent that regulations prescribed by the Secretary provide that, for purposes of this subtitle, such item is more appropriately determined at the corporation level than at the shareholder level. (5) Addition to tax for failure to comply with section For addition to tax in the case of a shareholder’s negligence in connection with, or disregard of, the requirements of this section, see part II of subchapter A of chapter 68.

“foreign business entity” applies in that section

The term “foreign business entity” means a foreign corporation and a foreign partnership. (2) Control of corporation A person is in control of a corporation if such person owns stock possessing more than 50 percent of the total combined voting power of all classes of stock entitled to vote, or more than 50 percent of the total value of shares of all classes of stock, of a corporation.

“affected taxable year” applies in that section

the term “affected taxable year” means any taxable year if the determination of the amount of tax imposed for such taxable year is affected by the treatment of the transaction to which the summons relates. (f) Cross reference For provisions relating to criminal penalties for violation of this section, see section 7203.

“foreign person” applies in that section

The term “foreign person” means any person who is not a United States person. For purposes of the preceding sentence,

“records” applies in that section

The term “records” includes any books, papers, or other data. (5) Section 318 to apply Section 318 shall apply for purposes of paragraphs (1) and (2), except that— (A) “10 percent” shall be substituted for “50 percent” in section 318(a)(2)(C), and (B) subparagraphs (A), (B), and (C) of section 318(a)(3) shall not be applied so as to consider a United States person as owning stock which is owned by a person who is not a United States person.

“related party” applies in that section

The term “related party” means— (A) any 25-percent foreign shareholder of the reporting corporation, (B) any person who is related (within the meaning of section 267(b) or 707(b)(1)) to the reporting corporation or to a 25-percent foreign shareholder of the reporting corporation, and (C) any other person who is related (within the meaning of section 482) to the reporting corporation. (3) Foreign person

“United States person” applies in that section

the term “United States person” has the meaning given to such term by section 7701(a)(30), except that any individual who is a citizen of any possession of the United States (but not otherwise a citizen of the United States) and who is not a resident of the United States shall not be treated as a United States person. (4) Records

“specified foreign financial asset” applies in that section

the term “specified foreign financial asset” means— (1) any financial account (as defined in section 1471(d)(2)) maintained by a foreign financial institution (as defined in section 1471(d)(4)), and (2) any of the following assets which are not held in an account maintained by a financial institution (as defined in section 1471(d)(5))— (A) any stock or security issued by a person other than a United States person, (B) any financial instrument or contract held for investment that has an issuer or counterparty which is other than a United States person, and (C) any interest in a foreign entity (as defined in section 1473).

“foreign person” applies in that section

The term “foreign person” means any person who is not a United States person. (3) Attribution of ownership For purposes of subsection (b)(2)— (A) Interests held by partnerships, etc. United States real property interests held by a partnership, trust, or estate shall be treated as owned proportionately by its partners or beneficiaries. (B) Interests held by family members United States real property interests held by the spouse or any minor child of an individual shall be treated as owned by such individual. (4) Time and manner of filing return All returns required to be made under this section shall be made at such time and in such manner as the Secretary shall by regulations prescribe.

“United States real property interest” applies in that section

The term “United States real property interest” has the meaning given to such term by section 897(c). (2) Foreign person

“applicable exclusion” applies in that section

The term “applicable exclusion” means, with respect to any specified fringe benefit plan, the section specified under paragraph (1) under which benefits under such plan are excludable from gross income. (3) Special rule for multiemployer plans In the case of a multiemployer plan, the plan shall be required to provide any information required by this section which the Secretary determines, on the basis of the agreement between the plan and employer, is held by the plan (and not the employer).

“specified fringe benefit plan” applies in that section

The term “specified fringe benefit plan” means any plan under section 79, 105, 106, 125, 127, 129, or 137. (2) Applicable exclusion

“foreign gift” applies in that section

the term “foreign gift” means any amount received from a person other than a United States person which the recipient treats as a gift or bequest. Such term shall not include any qualified transfer (within the meaning of section 2503(e)(2)) or any distribution properly disclosed in a return under section 6048(c).

“full-time equivalent employees” applies in that section

The term “full-time equivalent employees” means, with respect to any month, the sum of— (A) the number of full-time employees (as defined in section 4980H(c)(4)) for the month, plus (B) the number of employees determined (under rules similar to the rules of section 4980H(c)(2)(E)) by dividing the aggregate number of hours of service of employees who are not full-time employees for the month by 120.

“applicable qualified opportunity zone business” applies in that section

the term “applicable qualified opportunity zone business” means any qualified opportunity zone business— (1) which is a trade or business of a qualified opportunity fund, (2) in which a qualified opportunity fund holds qualified opportunity zone stock, or (3) in which a qualified opportunity fund holds a qualified opportunity zone partnership interest. (c) Other terms Any term used in this section which is also used in subchapter Z of chapter 1 shall have the meaning given such term under such subchapter.

“person” applies in that section

The term “person” includes any governmental unit (and any agency or instrumentality thereof). (2) Special rules In the case of any payment by a governmental entity or any agency or instrumentality thereof— (A) subsection (a) shall be applied without regard to the trade or business requirement contained therein, and (B) any return under this section shall be made by the officer or employee having control of the payment or appropriately designated for the purpose of making such return.

“service-recipient” applies in that section

the term “service-recipient” means the person for whom the service is performed. (b) Direct sales of $5,000 or more (1) In general If— (A) any person engaged in a trade or business in the course of such trade or business during any calendar year sells consumer products to any buyer on a buy-sell basis, a deposit-commission basis, or any similar basis which the Secretary prescribes by regulations, for resale (by the buyer or any other person) in the home or otherwise than in a permanent retail establishment, and (B) the aggregate amount of the sales to such buyer during such calendar year is $5,000 or more, then such person shall make a return, according to the forms or regulations …

“dividend” applies in that section

the term “dividend” means— (A) any distribution by a corporation which is a dividend (as defined in section 316); and (B) any payment made by a stockbroker to any person as a substitute for a dividend (as so defined).

“taxable acquisition” applies in that section

the term “taxable acquisition” means any acquisition by a corporation of stock in or property of another corporation if any shareholder of the acquired corporation is required to recognize gain (if any) as a result of such acquisition.

“applicable date” applies in that section

The term “applicable date” means— (i) January 1, 2011 , in the case of any specified security which is stock in a corporation (other than any stock described in clause (ii)), (ii) January 1, 2012 , in the case of any stock for which an average basis method is permissible under section 1012, (iii) January 1, 2023 , in the case of any specified security which is a digital asset, and (iv) January 1, 2013 , or such later date determined by the Secretary in the case of any other specified security. (D) Digital asset Except as otherwise provided by the Secretary,

“barter exchange” applies in that section

The term “barter exchange” means any organization of members providing property or services who jointly contract to trade or barter such property or services. (4) Person

“broker” applies in that section

The term “broker” includes— (A) a dealer, (B) a barter exchange, (C) any person who (for consideration) regularly acts as a middleman with respect to property or services, and (D) any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person. A person shall not be treated as a broker with respect to activities consisting of managing a farm on behalf of another person. (2) Customer

“covered security” applies in that section

The term “covered security” means any specified security acquired on or after the applicable date if such security— (i) was acquired through a transaction in the account in which such security is held, or (ii) was transferred to such account from an account in which such security was a covered security, but only if the broker received a statement under section 6045A with respect to the transfer. (B) Specified security

“customer” applies in that section

The term “customer” means any person for whom the broker has transacted any business. (3) Barter exchange

“digital asset” applies in that section

the term “digital asset” means any digital representation of value which is recorded on a cryptographically secured distributed ledger or any similar technology as specified by the Secretary. (4) Treatment of S corporations In the case of the sale of a covered security acquired by an S corporation (other than a financial institution) after December 31, 2011 , such S corporation shall be treated in the same manner as a partnership for purposes of this section. (5) Special rules for short sales In the case of a short sale, reporting under this section shall be made for the year in which such sale is closed.

“person” applies in that section

The term “person” includes any governmental unit and any agency or instrumentality thereof. (d) Statements required in case of certain substitute payments If any broker— (1) transfers securities of a customer for use in a short sale or similar transaction, and (2) receives (on behalf of the customer) a payment in lieu of— (A) a dividend, (B) tax-exempt interest, or (C) such other items as the Secretary may prescribe by regulations, during the period such short sale or similar transaction is open, the broker shall furnish such customer a written statement (in the manner as the Secretary shall prescribe by regulations) identifying such payment as being in lieu of the dividend, tax-exempt …

“real estate reporting person” applies in that section

the term “real estate reporting person” means any of the following persons involved in a real estate transaction in the following order: (A) the person (including any attorney or title company) responsible for closing the transaction, (B) the mortgage lender, (C) the seller’s broker, (D) the buyer’s broker, or (E) such other person designated in regulations prescribed by the Secretary. Any person treated as a real estate reporting person under the preceding sentence shall be treated as a broker for purposes of subsection (c)(1).

“seller” applies in that section

the term “seller” includes the person relinquishing the residence in an exchange. (f) Return required in the case of payments to attorneys (1) In general Any person engaged in a trade or business and making a payment (in the course of such trade or business) to which this subsection applies shall file a return under subsection (a) and a statement under subsection (b) with respect to such payment. (2) Application of subsection (A) In general This subsection shall apply to any payment to an attorney in connection with legal services (whether or not such services are performed for the payor).

“specified security” applies in that section

The term “specified security” means— (i) any share of stock in a corporation, (ii) any note, bond, debenture, or other evidence of indebtedness, (iii) any commodity, or contract or derivative with respect to such commodity, if the Secretary determines that adjusted basis reporting is appropriate for purposes of this subsection, (iv) any digital asset, and (v) any other financial instrument with respect to which the Secretary determines that adjusted basis reporting is appropriate for purposes of this subsection. (C) Applicable date

“applicable person” applies in that section

the term “applicable person” means— (1) any broker (as defined in section 6045(c)(1)), and (2) any other person as provided by the Secretary in regulations. (c) Time for furnishing statement Except as otherwise provided by the Secretary, any statement required by subsection (a) shall be furnished not later than 15 days after the date of the transfer described in such subsection.

“specified security” applies in that section

the term “specified security” has the meaning given such term by section 6045(g)(3)(B). No return shall be required under this section with respect to actions described in subsection (a) with respect to a specified security which occur before the applicable date (as defined in section 6045(g)(3)(C)) with respect to such security.

“reportable event” applies in that section

The term “reportable event” means— (i) the creation of any foreign trust by a United States person, (ii) the transfer of any money or property (directly or indirectly) to a foreign trust by a United States person, including a transfer by reason of death, and (iii) the death of a citizen or resident of the United States if— (I) the decedent was treated as the owner of any portion of a foreign trust under the rules of subpart E of part I of subchapter J of chapter 1, or (II) any portion of a foreign trust was included in the gross estate of the decedent.

“responsible party” applies in that section

the term “responsible party” means— (A) the grantor in the case of the creation of an inter vivos trust, (B) the transferor in the case of a reportable event described in paragraph (3)(A)(ii) other than a transfer by reason of death, and (C) the executor of the decedent’s estate in any other case.

“interest” applies in that section

the term “interest” means— (A) interest on any obligation— (i) issued in registered form, or (ii) of a type offered to the public, other than any obligation with a maturity (at issue) of not more than 1 year which is held by a corporation, (B) interest on deposits with persons carrying on the banking business, (C) amounts (whether or not designated as interest) paid by a mutual savings bank, savings and loan association, building and loan association, cooperative bank, homestead association, credit union, industrial loan association or bank, or similar organization, in respect of deposits, investment certificates, or withdrawable or repurchasable shares, (D) interest on amounts held by an …

“obligation” applies in that section

The term “obligation” includes bonds, debentures, notes, certificates, and other evidences of indebtedness. (3) Payments by governmental units In the case of payments made by any governmental unit or any agency or instrumentality thereof, the officer or employee having control of the payment of interest (or the person appropriately designated for purposes of this section) shall make the returns and statements required by this section.

“original issue discount” applies in that section

the term “original issue discount” has the meaning given to such term by section 1273(a). (7) Interests in REMIC’s and certain other debt instruments (A) In general For purposes of subsection (a),

“person” applies in that section

The term “person” includes any governmental unit and any agency or instrumentality thereof and any international organization and any agency or instrumentality thereof. (2) Obligation

“specified passenger vehicle loan” applies in that section

The term “specified passenger vehicle loan” means the indebtedness described in section 163(h)(4)(B) with respect to any applicable passenger vehicle. (e) Regulations The Secretary shall issue such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section, including regulations or other guidance to prevent the duplicate reporting of information under this section. (f) Applicability No return shall be required under this section for any period to which section 163(h)(4) does not apply.

“person” applies in that section

The term “person” means the officer or employee having control of the payment of the unemployment compensation, or the person appropriately designated for purposes of this section.

“unemployment compensation” applies in that section

The term “unemployment compensation” has the meaning given to such term by section 85(b). (2) Person

“person” applies in that section

the term “person” means the officer or employee having control of the program, or the person appropriately designated for purposes of this section.

“person” applies in that section

the term “person” means the officer or employee having control of the payment of the refunds (or the allowance of the credits or offsets) or the person appropriately designated for purposes of this section.

“appropriate Federal official” applies in that section

The term “appropriate Federal official” means— (A) the Commissioner of Social Security in the case of social security benefits described in section 86(d)(1)(A), and (B) the Railroad Retirement Board in the case of social security benefits described in section 86(d)(1)(B). (2) Social security benefit

“social security benefit” applies in that section

The term “social security benefit” has the meaning given to such term by section 86(d)(1).

“mortgage” applies in that section

the term “mortgage” means any obligation secured by real property. (f) Returns which would be required to be made by 2 or more persons Except to the extent provided in regulations prescribed by the Secretary, in the case of interest received by any person on behalf of another person, only the person first receiving such interest shall be required to make the return under subsection (a).

“mortgage insurance” applies in that section

the term “mortgage insurance” means— (i) mortgage insurance provided by the Department of Veterans Affairs, the Federal Housing Administration, or the Rural Housing Service, and (ii) private mortgage insurance (as defined by section 2 of the Homeowners Protection Act of 1998 ( 12 U.S.C. 4901 ), as in effect on the date of the enactment of this subsection).

“person” applies in that section

The term “person” includes any governmental unit (and any agency or instrumentality thereof). (2) Special rules In the case of a governmental unit or any agency or instrumentality thereof— (A) subsection (a) shall be applied without regard to the trade or business requirement contained therein, and (B) any return required under subsection (a) shall be made by the officer or employee appropriately designated for the purpose of making such return.

“cash” applies in that section

the term “cash” includes— (1) foreign currency, (2) to the extent provided in regulations prescribed by the Secretary, any monetary instrument (whether or not in bearer form) with a face amount of not more than $10,000, and (3) any digital asset (as defined in section 6045(g)(3)(D)). Paragraph (2) shall not apply to any check drawn on the account of the writer in a financial institution referred to in subsection (c)(1)(B).

“specified criminal offense” applies in that section

the term “specified criminal offense” means— (A) any Federal criminal offense involving a controlled substance, (B) racketeering (as defined in section 1951, 1952, or 1955 of title 18, United States Code), (C) money laundering (as defined in section 1956 or 1957 of such title), and (D) any State criminal offense substantially similar to an offense described in subparagraph (A), (B), or (C).

“person” applies in that section

The term “person” includes any governmental unit (and any agency or instrumentality thereof). (2) Special rules In the case of a governmental unit or any agency or instrumentality thereof— (A) subsection (a) shall be applied without regard to the trade or business requirement contained therein, and (B) any return under this section shall be made by the officer or employee appropriately designated for the purpose of making such return.

“charitable deduction property” applies in that section

The term “charitable deduction property” means any property (other than publicly traded securities) contributed in a contribution for which a deduction was claimed under section 170 if the claimed value of such property (plus the claimed value of all similar items of property donated by the donor to 1 or more donees) exceeds $5,000. (B) Publicly traded securities

“publicly traded securities” applies in that section

The term “publicly traded securities” means securities for which (as of the date of the contribution) market quotations are readily available on an established securities market. (b) Qualified intellectual property contributions (1) In general Each donee with respect to a qualified intellectual property contribution shall make a return (at such time and in such form and manner as the Secretary may by regulations prescribe) with respect to each specified taxable year of the donee showing— (A) the name, address, and TIN of the donor, (B) a description of the qualified intellectual property contributed, (C) the date of the contribution, and (D) the amount of net income of the donee for the …

“specified taxable year” applies in that section

The term “specified taxable year” means, with respect to any qualified intellectual property contribution, any taxable year of the donee any portion of which is part of the 10-year period beginning on the date of such contribution. (c) Statement to be furnished to donors Every person making a return under subsection (a) or (b) shall furnish a copy of such return to the donor at such time and in such manner as the Secretary may by regulations prescribe.

“Federal executive agency” applies in that section

the term “Federal executive agency” means— (1) any Executive agency (as defined in section 105 of title 5 , United States Code) other than the Government Accountability Office, (2) any military department (as defined in section 102 of such title), and (3) the United States Postal Service and the Postal Regulatory Commission. (c) Authority to extend reporting to licenses and subcontracts To the extent provided in regulations, this section also shall apply to— (1) licenses granted by Federal executive agencies, and (2) subcontracts under contracts to which subsection (a) applies.

“applicable entity” applies in that section

The term “applicable entity” means— (A) an executive, judicial, or legislative agency (as defined in section 3701(a)(4) of title 31 , United States Code), and (B) an applicable financial entity. (2) Applicable financial entity

“applicable financial entity” applies in that section

The term “applicable financial entity” means— (A) any financial institution described in section 581 or 591(a) and any credit union, (B) the Federal Deposit Insurance Corporation, the Resolution Trust Corporation, the National Credit Union Administration, and any other Federal executive agency (as defined in section 6050M), and any successor or subunit of any of the foregoing, (C) any other corporation which is a direct or indirect subsidiary of an entity referred to in subparagraph (A) but only if, by virtue of being affiliated with such entity, such other corporation is subject to supervision and examination by a Federal or State agency which regulates entities referred to in subparagraph …

“long-term care benefit” applies in that section

the term “long-term care benefit” means— (1) any payment under a product which is advertised, marketed, or offered as long-term care insurance, and (2) any payment which is excludable from gross income by reason of section 101(g).

“cash” applies in that section

The term “cash” has the meaning given such term by section 6050I(d). (2) Fish

“fish” applies in that section

The term “fish” includes other forms of aquatic life.

“eligible educational institution” applies in that section

the terms “eligible educational institution” and “qualified tuition and related expenses” have the meanings given such terms by section 25A (without regard to subsection (g)(2) thereof), and except as provided in regulations,

“qualified education loan” applies in that section

the term “qualified education loan” has the meaning given such term by section 221(d)(1). (f) Returns which would be required to be made by 2 or more persons Except to the extent provided in regulations prescribed by the Secretary, in the case of any amount received by any person on behalf of another person, only the person first receiving such amount shall be required to make the return under subsection (a). (g) Regulations The Secretary shall prescribe such regulations as may be necessary to carry out the provisions of this section.

“qualified tuition and related expenses” applies in that section

the terms “eligible educational institution” and “qualified tuition and related expenses” have the meanings given such terms by section 25A (without regard to subsection (g)(2) thereof), and except as provided in regulations,

“applicable exempt organization” applies in that section

The term “applicable exempt organization” means— (A) an organization described in section 170(c), (B) an organization described in section 168(h)(2)(A)(iv), or (C) an organization not described in paragraph (1) or (2) which is described in section 2055(a) or section 2522(a). (e) Termination This section shall not apply to reportable acquisitions occurring after the date which is 2 years after the date of the enactment of this section.

“applicable insurance contract” applies in that section

The term “applicable insurance contract” means any life insurance, annuity, or endowment contract with respect to which both an applicable exempt organization and a person other than an applicable exempt organization have directly or indirectly held an interest in the contract (whether or not at the same time).

“reportable acquisition” applies in that section

The term “reportable acquisition” means the acquisition by an applicable exempt organization of a direct or indirect interest in any applicable insurance contract in any case in which such acquisition is a part of a structured transaction involving a pool of such contracts. (2) Applicable insurance contract (A) In general

“merchant acquiring entity” applies in that section

The term “merchant acquiring entity” means the bank or other organization which has the contractual obligation to make payment to participating payees in settlement of payment card transactions. (3) Third party settlement organization

“participating payee” applies in that section

The term “participating payee” means— (i) in the case of a payment card transaction, any person who accepts a payment card as payment, and (ii) in the case of a third party network transaction, any person who accepts payment from a third party settlement organization in settlement of such transaction. (B) Exclusion of foreign persons Except as provided by the Secretary in regulations or other guidance, such term shall not include any person with a foreign address.

“payment card” applies in that section

The term “payment card” means any card which is issued pursuant to an agreement or arrangement which provides for— (A) one or more issuers of such cards, (B) a network of persons unrelated to each other, and to the issuer, who agree to accept such cards as payment, and (C) standards and mechanisms for settling the transactions between the merchant acquiring entities and the persons who agree to accept such cards as payment. The acceptance as payment of any account number or other indicia associated with a payment card shall be treated for purposes of this section in the same manner as accepting such payment card as payment. (3) Third party payment network

“payment card transaction” applies in that section

The term “payment card transaction” means any transaction in which a payment card is accepted as payment. (3) Third party network transaction

“payment settlement entity” applies in that section

The term “payment settlement entity” means— (A) in the case of a payment card transaction, the merchant acquiring entity, and (B) in the case of a third party network transaction, the third party settlement organization. (2) Merchant acquiring entity

“person” applies in that section

The term “person” includes any governmental unit (and any agency or instrumentality thereof). (2) Payment card

“reportable payment transaction” applies in that section

The term “reportable payment transaction” means any payment card transaction and any third party network transaction. (2) Payment card transaction

“third party network transaction” applies in that section

The term “third party network transaction” means any transaction described in subsection (d)(3)(A)(iii) which is settled through a third party payment network. (d) Other definitions For purposes of this section— (1) Participating payee (A) In general

“third party payment network” applies in that section

The term “third party payment network” means any agreement or arrangement— (A) which involves the establishment of accounts with a central organization by a substantial number of persons who— (i) are unrelated to such organization, (ii) provide goods or services, and (iii) have agreed to settle transactions for the provision of such goods or services pursuant to such agreement or arrangement, (B) which provides for standards and mechanisms for settling such transactions, and (C) which guarantees persons providing goods or services pursuant to such agreement or arrangement that such persons will be paid for providing such goods or services.

“third party settlement organization” applies in that section

The term “third party settlement organization” means the central organization which has the contractual obligation to make payment to participating payees of third party network transactions. (4) Special rules related to intermediaries For purposes of this section— (A) Aggregated payees In any case where reportable payment transactions of more than one participating payee are settled through an intermediary— (i) such intermediary shall be treated as the participating payee for purposes of determining the reporting obligations of the payment settlement entity with respect to such transactions, and (ii) such intermediary shall be treated as the payment settlement entity with respect to the …

“appropriate official” applies in that section

the term “appropriate official” means the officer or employee having control of the suit, investigation, or inquiry or the person appropriately designated for purposes of this section.

“issuer” applies in that section

The term “issuer” means any life insurance company that bears the risk with respect to a life insurance contract on the date any return or statement is required to be made under this section. (4) Reportable death benefits

“payment” applies in that section

The term “payment” means, with respect to any reportable policy sale, the amount of cash and the fair market value of any consideration transferred in the sale. (2) Reportable policy sale

“reportable death benefits” applies in that section

The term “reportable death benefits” means amounts paid by reason of the death of the insured under a life insurance contract that has been transferred in a reportable policy sale.

“reportable policy sale” applies in that section

The term “reportable policy sale” has the meaning given such term in section 101(a)(3)(B). (3) Issuer

“applicable employer-sponsored coverage” applies in that section

The term “applicable employer-sponsored coverage” means, with respect to any employee, coverage under any group health plan made available to the employee by an employer which is excludable from the employee’s gross income under section 106, or would be so excludable if it were employer-provided coverage (within the meaning of such section 106).

“third-party sick pay” applies in that section

the term “third-party sick pay” means any sick pay (as defined in section 3402( o )(2)(C)) which does not constitute wages for purposes of chapter 24 (determined without regard to section 3402( o )(1)). (B) Special rules (i) Statements are in lieu of other reporting requirements The reporting requirements of subparagraph (A) with respect to any payments shall, with respect to such payments, be in lieu of the requirements of subsection (a) and of section 6041. (ii) Penalties made applicable For purposes of sections 6674 and 7204, the statements required to be furnished by subparagraph (A) shall be treated as statements required under this section to be furnished to employees.

“large food or beverage establishment” applies in that section

the term “large food or beverage establishment” means any trade or business (or portion thereof)— (A) which provides food or beverages, (B) with respect to which the tipping of employees serving food or beverages by customers is customary, and (C) which normally employed more than 10 employees on a typical business day during the preceding calendar year. For purposes of subparagraph (C), rules similar to the rules of subsections (a) and (b) of section 52 shall apply under regulations prescribed by the Secretary, and an individual who owns 50 percent or more in value of the stock of the corporation operating the establishment shall not be treated as an employee.

“nonallocable receipts” applies in that section

the term “nonallocable receipts” means receipts which are allocable to— (A) carryout sales, or (B) services with respect to which a service charge of 10 percent or more is added. (7) Application to new businesses The Secretary shall prescribe regulations for the application of this subsection to new businesses.

“minimum essential coverage” applies in that section

the term “minimum essential coverage” has the meaning given such term by section 5000A(f).

“employer” applies in that section

the term “employer” includes a person described in section 401(c)(4) and an individual who establishes an individual retirement plan. (d) Coordination with income tax returns, etc. An individual who establishes an individual retirement plan shall not be required to file a return under this section with respect to such plan for any taxable year for which there is— (1) no special IRP tax, and (2) no plan activity other than— (A) the making of contributions (other than rollover contributions), and (B) the making of distributions. (e) Special IRP tax defined For purposes of this section,

“special IRP tax” applies in that section

the term “special IRP tax” means a tax imposed by— (1) section 4973, or (2) section 4974. (f) 403(b) multiple employer plans treated as one plan In the case of annuity contracts to which this section applies and to which section 403(b) applies by reason of the plan under which such contracts are purchased meeting the requirements of paragraph (15) thereof, such plan shall be treated as a single plan for purposes of this section. (g) Cross references For provisions relating to penalties for failure to file a return required by this section, see section 6652(e).

“return period” applies in that section

the term “return period” means the 12-month period beginning on July 1 of each year.

“practitioner” applies in that section

the term “practitioner” means any individual in good standing who is regulated under section 330 of title 31 , United States Code.

“applicable government payment” applies in that section

the term “applicable government payment” means— (i) any Federal payment (other than a payment for which eligibility is based on the income or assets (or both) of a payee) certified to the Financial Management Service for disbursement, and (ii) any other payment which is certified to the Financial Management Service for disbursement and which the Secretary designates by published notice. (9) Disclosure of information to administer section 6311 The Secretary may disclose returns or return information to financial institutions and others to the extent the Secretary deems necessary for the administration of section 6311.

“applicable year” applies in that section

the term “applicable year” means the most recent taxable year for which information is available in the Internal Revenue Service’s taxpayer data information systems, or, if there is no return filed for such taxpayer for such year, the prior taxable year. (C) Restriction on use of disclosed information Return information disclosed under this paragraph may be used only for the purposes of determining eligibility for and administering transitional assistance under section 1860D–31 of the Social Security Act.

“authorized person” applies in that section

the term “authorized person” means, with respect to information disclosed under subparagraph (A), (B), or (C), any person who— (i) is an officer, employee, or contractor, of the Department of Education, and (ii) is specifically authorized and designated by the Secretary of Education for purposes of such subparagraph (applied separately with respect to each such subparagraph).

“chief executive officer” applies in that section

The term “chief executive officer” means, with respect to any municipality, any elected official and the chief official (even if not elected) of such municipality. (11) Terrorist incident, threat, or activity

“delinquent tax debt” applies in that section

the term “delinquent tax debt” means an outstanding debt under this title for which a notice of lien has been filed pursuant to section 6323, but the term does not include a debt that is being paid in a timely manner pursuant to an agreement under section 6159 or 7122, or a debt with respect to which a collection due process hearing under section 6330 is requested, pending, or completed and no payment is required.

“disclosure” applies in that section

The term “disclosure” means the making known to any person in any manner whatever a return or return information. (9) Federal agency

“exploited child” applies throughout this title

the term “exploited child” means a minor with respect to whom there is reason to believe that a specified offense against a minor (as defined by section 111(7) of the Sex Offender Registration and Notification Act ( 42 U.S.C. 16911(7) )) 1 has or is occurring.

“Federal agency” applies in that section

The term “Federal agency” means an agency within the meaning of section 551(1) of title 5 , United States Code. (10) Chief executive officer

“group health plan” applies in that section

The term “group health plan” means any group health plan (as defined in section 5000(b)(1)). (iii) Qualified employer

“included Federal loan program” applies in that section

the term “included Federal loan program” means any program under which the United States or a Federal agency makes, guarantees, or insures loans. (4) Disclosure of returns and return information for use in personnel or claimant representative matters The Secretary may disclose returns and return information— (A) upon written request— (i) to an employee or former employee of the Department of the Treasury, or to the duly authorized legal representative of such employee or former employee, who is or may be a party to any administrative action or proceeding affecting the personnel rights of such employee or former employee; or (ii) to any person, or to the duly authorized legal representative …

“inspected” applies in that section

The terms “inspected” and “inspection” mean any examination of a return or return information. (8) Disclosure

“inspection” applies in that section

The terms “inspected” and “inspection” mean any examination of a return or return information. (8) Disclosure

“medicare beneficiary” applies in that section

The term “medicare beneficiary” means an individual entitled to benefits under part A, or enrolled under part B, of title XVIII of the Social Security Act, but does not include such an individual enrolled in part A under section 1818. (ii) Group health plan

“officer or employee” applies in that section

the term “officer or employee” includes a former officer or employee. (b) Definitions For purposes of this section— (1) Return

“qualified employer” applies in that section

The term “qualified employer” means, for a calendar year, an employer which has furnished written statements under section 6051 with respect to at least 20 individuals for wages paid in the year. (13) Disclosure of return information to carry out the Higher Education Act of 1965 (A) Applications and recertifications for income-contingent or income-based repayment The Secretary shall, upon written request from the Secretary of Education, disclose to any authorized person, only for the purpose of (and to the extent necessary in) determining eligibility for, or repayment obligations under, income-contingent or income-based repayment plans under title IV of the Higher Education Act of 1965 with …

“qualified group of municipalities” applies in that section

The term “qualified group of municipalities” means, with respect to any governmental entity, 2 or more municipalities— (I) each of which imposes a tax on income or wages, (II) each of which, under the authority of a State statute, administers the laws relating to the imposition of such taxes through such entity, and (III) which collectively have a population in excess of 250,000 (as determined under the most recent decennial United States census data available). (ii) References to State law, etc.

“return” applies in that section

The term “return” means any tax or information return, declaration of estimated tax, or claim for refund required by, or provided for or permitted under, the provisions of this title which is filed with the Secretary by, on behalf of, or with respect to any person, and any amendment or supplement thereto, including supporting schedules, attachments, or lists which are supplemental to, or part of, the return so filed. (2) Return information

“return information” applies in that section

The term “return information” means— (A) a taxpayer’s identity, the nature, source, or amount of his income, payments, receipts, deductions, exemptions, credits, assets, liabilities, net worth, tax liability, tax withheld, deficiencies, overassessments, or tax payments, whether the taxpayer’s return was, is being, or will be examined or subject to other investigation or processing, or any other data, received by, recorded by, prepared by, furnished to, or collected by the Secretary with respect to a return or with respect to the determination of the existence, or possible existence, of liability (or the amount thereof) of any person under this title for any tax, penalty, interest, fine, …

“specified ISAC participant” applies in that section

The term “specified ISAC participant” means— (I) any person designated by the Secretary as having primary responsibility for a function performed with respect to the information sharing and analysis center described in section 2003(a) of the Taxpayer First Act, and (II) any person subject to the requirements of section 7216 and which is a participant in such information sharing and analysis center.

“specified return information” applies in that section

the term “specified return information” means— (i) in the case of a return which is in connection with a case of potential identity theft refund fraud— (I) in the case of such return filed electronically, the internet protocol address, device identification, email domain name, speed of completion, method of authentication, refund method, and such other return information related to the electronic filing characteristics of such return as the Secretary may identify for purposes of this subclause, and (II) in the case of such return prepared by a tax return preparer, identifying information with respect to such tax return preparer, including the preparer taxpayer identification number and …

“State” applies in that section

The term “State” means— (i) any of the 50 States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands, (ii) for purposes of subsections (a)(2), (b)(4), (d)(1), (h)(4), and (p), any municipality— (I) with a population in excess of 250,000 (as determined under the most recent decennial United States census data available), (II) which imposes a tax on income or wages, and (III) with which the Secretary (in his sole discretion) has entered into an agreement regarding disclosure, and (iii) for purposes of subsections (a)(2), (b)(4), (d)(1), (h)(4), and (p), any governmental entity— (I) which is …

“State audit agency” applies in that section

the term “State audit agency” means any State agency, body, or commission which is charged under the laws of the State with the responsibility of auditing State revenues and programs. (3) Exception for reimbursement under section 7624 Nothing in this section shall be construed to prevent the Secretary from disclosing to any State or local law enforcement agency which may receive a payment under section 7624 the amount of the recovered taxes with respect to which such a payment may be made.

“State, tribal, or local child support enforcement agency” applies in that section

the term “State, tribal, or local child support enforcement agency” has the same meaning as when used in paragraph (6)(D). (9) Disclosure of alcohol fuel producers to administrators of State alcohol laws Notwithstanding any other provision of this section, the Secretary may disclose— (A) the name and address of any person who is qualified to produce alcohol for fuel use under section 5181, and (B) the location of any premises to be used by such person in producing alcohol for fuel, to any State agency, body, or commission, or its legal representative, which is charged under the laws of such State with responsibility for administration of State alcohol laws solely for use in the …

“tax administration” applies in that section

The term “tax administration”— (A) means— (i) the administration, management, conduct, direction, and supervision of the execution and application of the internal revenue laws or related statutes (or equivalent laws and statutes of a State) and tax conventions to which the United States is a party, and (ii) the development and formulation of Federal tax policy relating to existing or proposed internal revenue laws, related statutes, and tax conventions, and (B) includes assessment, collection, enforcement, litigation, publication, and statistical gathering functions under such laws, statutes, or conventions. (5) State (A) In general

“taxpayer identity” applies in that section

The term “taxpayer identity” means the name of a person with respect to whom a return is filed, his mailing address, his taxpayer identifying number (as described in section 6109), or a combination thereof. (7) Inspection

“taxpayer return information” applies in that section

The term “taxpayer return information” means return information as defined in paragraph (2) which is filed with, or furnished to, the Secretary by or on behalf of the taxpayer to whom such return information relates. (4) Tax administration

“terrorist incident, threat, or activity” applies in that section

The term “terrorist incident, threat, or activity” means an incident, threat, or activity involving an act of domestic terrorism (as defined in section 2331(5) of title 18 , United States Code) or international terrorism (as defined in section 2331(1) of such title).

“appropriate State officer” applies in that section

The term “appropriate State officer” means— (i) the State attorney general, (ii) the State tax officer, (iii) in the case of an organization to which paragraph (1) applies, any other State official charged with overseeing organizations of the type described in section 501(c)(3), and (iv) in the case of an organization to which paragraph (3) applies, the head of an agency designated by the State attorney general as having primary responsibility for overseeing the solicitation of funds for charitable purposes.

“exempt status application materials” applies in that section

the term “exempt status application materials” means the application for recognition of exemption under section 501 and any papers submitted in support of such application and any letter or other document issued by the Internal Revenue Service with respect to such application. (6) Notice materials For purposes of paragraph (1),

“notice materials” applies in that section

the term “notice materials” means the notice of status filed under section 527(i) and any papers submitted in support of such notice and any letter or other document issued by the Internal Revenue Service with respect to such notice. (7) Disclosure of reports by Internal Revenue Service Any report filed by an organization under section 527(j) (relating to required disclosure of expenditures and contributions) shall be made available to the public at such times and in such places as the Secretary may prescribe.

“tax convention” applies in that section

The term “tax convention” means— (A) any income tax or gift and estate tax convention, or (B) any other convention or bilateral agreement (including multilateral conventions and agreements and any agreement with a possession of the United States) providing for the avoidance of double taxation, the prevention of fiscal evasion, nondiscrimination with respect to taxes, the exchange of tax relevant information with the United States, or mutual assistance in tax matters. (d) Cross references For penalties for the unauthorized disclosure of tax convention information which is return or return information, see sections 7213, 7213A, and 7431.

“tax convention information” applies in that section

The term “tax convention information” means any— (A) agreement entered into with the competent authority of one or more foreign governments pursuant to a tax convention, (B) application for relief under a tax convention, (C) background information related to such agreement or application, (D) document implementing such agreement, and (E) other information exchanged pursuant to a tax convention which is treated as confidential or secret under the tax convention. (2) Tax convention

“return period” applies in that section

the term “return period” has the meaning given to such term by section 6060(c).

“applicable date” applies in that section

the term “applicable date” means— (i) January 1, 2017 , in the case of an individual taxpayer identification number issued before January 1, 2008 , (ii) January 1, 2018 , in the case of an individual taxpayer identification number issued in 2008, (iii) January 1, 2019 , in the case of an individual taxpayer identification number issued in 2009 or 2010, and (iv) January 1, 2020 , in the case of an individual taxpayer identification number issued in 2011 or 2012.

“authorized person” applies in that section

the term “authorized person” means an officer or employee of an insurer whom the Manager of the Corporation designates by rule, subject to appropriate safeguards including a prohibition against the release of such social security account numbers (other than to the Corporations) by such person.

“officer or employee” applies in that section

the term “officer or employee” includes a former officer or employee. (4) Sanctions Paragraphs (1), (2), and (3) of section 7213(a) shall apply with respect to the un­authorized willful disclosure to any person of employer identification numbers maintained pursuant to this subsection by the Secretary of Agriculture or any agency or instrumentality with which information is shared pursuant to paragraph (2) in the same manner and to the same extent as such paragraphs apply with respect to unauthorized disclosures of return and return information described in such paragraphs.

“required documentation” applies in that section

The term “required documentation” includes such documentation as the Secretary may require that proves the individual’s identity, foreign status, and residency. (B) Validity of documents The Secretary may accept only original documents or certified copies meeting the requirements of the Secretary. (3) Term of ITIN (A) In general An individual taxpayer identification number issued after December 31, 2012 , shall remain in effect unless the individual to whom such number is issued does not file a return of tax (or is not included as a dependent on the return of tax of another taxpayer) for 3 consecutive taxable years ending after the issuance of such number.

“seller-provided financing” applies in that section

the term “seller-provided financing” means any indebtedness incurred in acquiring any residence if the person to whom such indebtedness is owed is the person from whom such residence was acquired. (i) Special rules relating to the issuance of ITINs (1) In general The Secretary is authorized to issue an individual taxpayer identification number to an individual only if the applicant submits an application, using such form as the Secretary may require and including the required documentation— (A) in the case of an applicant not described in subparagraph (B)— (i) in person to an employee of the Internal Revenue Service or a community-based certifying acceptance agent approved by the Secretary, …

“substantial beneficial interest” applies in that section

the term “substantial beneficial interest” means not less than 5 percent of all beneficial interest in the policyholder. The Secretary of Agriculture shall restrict, to the satisfaction of the Secretary of the Treasury, access to employer identification numbers obtained pursuant to this paragraph only to officers and employees of the United States or authorized persons whose duties or responsibilities require access for the administration of the Federal Crop Insurance Act.

“Chief Counsel advice” applies in that section

the term “Chief Counsel advice” means written advice or instruction, under whatever name or designation, prepared by any national office component of the Office of Chief Counsel which— (i) is issued to field or service center employees of the Service or regional or district employees of the Office of Chief Counsel; and (ii) conveys— (I) any legal interpretation of a revenue provision; (II) any Internal Revenue Service or Office of Chief Counsel position or policy concerning a revenue provision; or (III) any legal interpretation of State law, foreign law, or other Federal law relating to the assessment or collection of any liability under a revenue provision.

“general written determination” applies in that section

The term “general written determination” means any written determination other than a reference written determination. (c) Exemptions from disclosure Before making any written determination or background file document open or available to public inspection under subsection (a), the Secretary shall delete— (1) the names, addresses, and other identifying details of the person to whom the written determination pertains and of any other person, other than a person with respect to whom a notation is made under subsection (d)(1), identified in the written determination or any background file document; (2) information specifically authorized under criteria established by an Executive order to be …