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TITLE 26-INTERNAL REVENUE CODE Pub. L. 87-710, § 1(a), authorized a carryover of a net operating loss for any taxable year ending after Dec. 31, 1955, to each of the 5 taxable years following the taxable year of loss, or when such loss occurs in the case of regulated transportation corporation, except as provided in subsec. (J), then to each of the 7 taxable years following the taxable year of loss, and eliminat- ed provisions authorizing a net operating loss for any taxable years ending Dec. 31, 1957, to be carried over to each of the 5 taxable years following the taxable year of such loss, in par. (1), and inserted the refer- ence to subsec. (j) in par. (2). Subsec. (d)(4). Pub. L. 87-792 added subpar. (D). Subsec. (j). Pub. L. 87-710, § 1(b), added subsec. (j). Former subsec. (j) redesignated (k). Subsec. k). Pub. L. 87-710, §1(b), redesignated former subsec. (j) as (k. 1958-Subsec. (b). Pub. L. 85-866, § 203(a), substitut- ed "1957" for "1953", and "3" for "2" in par. (1), and substituted "subsection (i)" for "subsection (f)", "8' for "7", and "7" for "8" in par. (2). Subsecs. (f)(3), (4). Pub. L. 85-866, § 14(a), added sub- secs. (f)(3), (4). Subsec. (g)(3). Pub. L. 85-866, § 14(b), added subsec. (g)(3) and redesignated former subsec. (g)(3) as (g)(4). Subsec. (g)(4). Pub. L. 85-866, § 14(b), redesignated former subsec. (g)(3) as (g)(4). Subsec. (h). Pub. L. 85-866, § 64(b), added subsec. (h) and redesignated former subsec. (h) as (I). Subsec. (i). Pub. L. 85-866, § 203(b), added subsec. (I) and redesignated former subsec. (I) as redesignated by § 64(b) as (J). Subsec. (J). Pub. L. 85-866, § 203(b), redesignated former subsec. (1) as (j). EFFECTIVE DATE OF 1976 AMENDMENT Section 806(g)(1) of Pub. L. 94-455 provided that: "The amendments made by subsections (a), (b), (c), and (d) [to subsecs. (b)(1)(B), (C), (3)(E) and (g)(3) of this section and sections 812(b)(1), (3) and 825(d) of this title) shall apply to losses incurred in taxable years ending after December 31, 1975." Amendment of subsecs. (b)(1)(E), (d)(7) by section 1606(b), Wc) of Pub. L. 94-455, respectively, effective for taxable years ending after Oct. 4, 1976, see section 1608(c) of Pub. L. 94-455, set out as an Effective Date of 1976 Amendment note under section 857 of this title. Amendment of section by section 1901(a)(29) of Pub. L. 94-455 effective for taxable years ending after Oct. 4, 1976, see section 1901(d) of Pub. L. 94-455, set out as an Effective Date of 1976 Amendment note under sec- tion 2 of this title. EFFECTIVE DATE OF 1971 AMENDMENT Section 2(d) of Pub. L. 91-677 provided that: "The amendments made by this section [amending subsecs. (b) and (k) of this section) shall apply in respect of foreign expropriation losses sustained in taxable years ending after December 31, 1958." EFFECTIVE DATE OF 1967 AMENDMENT Section 3(b) of Pub. L. 90-225 provided that: "No in- terest shall be paid or allowed with respect to any overpayment of tax resulting from the application of the amendments made by subsection (a) [amending subsec. (b) of this section] for any period prior to the date of the enactment of this Act [Dec. 27, 1967]." Section 3(c) of Pub. L. 90-225 provided that: "The amendments made by subsection (a) [amending subsec. (b) of this section) shall apply with respect to net operating losses sustained in taxable years ending after December 31, 1966." EFFECTIVE DATE OF 1964 AMENDMENT Section 210(c) of Pub. L. 88-272 provided that: "The amendments made by this section [adding subsec. (k), redesignating former subsec. (k) as (1), and amending subsec. (b) of this section] shall apply in respect of foreign expropriation losses (as defined in section 172(k) of the Internal Revenue Code of 1954, as amended by subsection (a)(5) of this section), sus- tained in taxable years ending after December 31, 1958." Amendment of subsec. (j) of this section by Pub. L. 88-272 applicable to taxable years beginning after Dec. 31, 1963, see section 234(c) of Pub. L. 88-272, set out as a note under section 1503 of this title. EFFECTIVE DATE OF 1962 AMENDMENT Section 317(b) of Pub. L. 87-794 provided in part that the amendment of subsec. (b) of this section by Pub. L. 87-794 shall be effective with respect to net op- erating losses for taxable years ending after Dec. 31, 1955. Amendment by Pub. L. 87-792 applicable to taxable years beginning after Dec. 31, 1962, see section 8 of Pub. L. 87-792, set out as an Effective Date of 1962 Amendment note under section 37 of this title. Section 2 of Pub. L. 87-710 provided that: "The amendments made by the first section of this Act [to this section] shall apply only with respect to net oper- ating losses for taxable years ending after December 31, 1955." EFFECTIVE DATE OF 1958 AMENDMENT Section 203(c) of Pub. L. 85-866 provided that: "The amendments made by subsections (a) and (b) [to sub- sees. (b)(1), (2). and (j) of this section] shall apply in respect of net operating losses for taxable years ending after December 31, 1957." Subsecs. (f)(3), (4), and (g)(3) of this section as appli- cable to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954, see section 1(c) of Pub. L. 85-866, set out as an Effective Date of 1958 Amend- ment note under section 165 of this title. Section 64(e) of Pub. L. 85-866 provided that: "The amendments made by this section [adding sections 1016(a)(18), 1371-1377, 1504(b)(8) and 6037 of this title, amending subsecs. (h) and (I) of this section and renumbering former section 6037 as 6038 of this title) shall apply only with respect to taxable years begin- ning after December 31, 1957". REFUND OR CREDIT OF OVERPAYMENT; LIMITATIONS; INTEREST Section 14 of Pub. L. 85-866 provided that if any refund or credit of any overpayment resulting from application of subsec. (a) and (b) of Pub. L. 85-866, amending former subsecs. (f)(3), (4) and (g)(3), (4), was prevented on Sept, 2, 1958 or 6 months thereafter, by operation of any law or rule of law, refund was to be allowed if a claim was filed wihin six months of the date of such date but such reiund was to be without interest. INTEREST ATTRIBUTABLE TO NET OPERATING Loss CARRY- BACK FOR CERTAIN TAXABLE YEARS ENDING IN 1954 For payment of interest attributable to net operat- ing loss carryback, see section 83(e) of Pub. L. 85-866, set out as a note under section 6601 of this title. CROSS REFERENCES Adjustments required by changes in method of ac- counting, see section 481 of this title. Losses generally, see section 165 of this title. Net operating loss- Amount and method of adjustment, see section 1314 of this title. Extension of time for payment of taxes by corpo- rations expecting carrybacks under this section, see section 6164 of this title. Partnership not allowed deduction, see section 703 of this title. Net operating loss carryover on termination of estate or trust, see section 642 of this title. Special limitations on net operating loss carryovers, see section 382 of this title. Page 177 § 172