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TITLE 26-INTERNAL REVENUE CODE Amendment of subsec. (c)(6) by section 521(f) of Pub. L. 91-172 applicable with respect to taxable years ending after July 24, 1969, see section 521(g) of Pub. L. 91-172, set out as an Effective Date of 1969 Amend- ment note under section 167 of thisititle. Amendment of subsec. (c)(10) by section 504(c)(2) of Pub. L. 91-172 applicable with respect to exploration expenditures paid or incurred after Dec. 31, 1969, see section 504(d)(1) of Pub. L. 91-172, set out as an Effec- tive Date of 1969 Amendment note under section 243 of this title. EFFECTIVE DATE OF 1968 .AMENDMENT Amendment of subsec. (c)(22) of this section by Pub. L. 90-240 applicable to taxable years beginning after Dec. 31, 1966, see section 5(e) of Pub. L. 90-240, set out as an Effective Date of 1968 Amendment note under section 832 of this title. EFFECTIVE DATE OF 1964 AMENDMENT Amendment of subsec. (c)(15) by Pub. L. 88-272 ap- plicable to taxable years beginning after Dec. 31, 1963, see section 225(t) of Pub. L. 88-272 set out as an Effec- tive Date of 1964 Amendment note under section 316 of this title. Amendment of subsec. (c)(19) by Pub. L. 88-272 ap- plicable to taxable years beginning after Dec. 31, 1963, with respect to contributions paid or treated as paid under section 170(a)(2) of this title, in taxable years beginning after Dec. 31, 1961, see section 209(f)(2) of Pub. L. 88-272, set out as an Effective Date of 1964 Amendment note under section 170 of this title. EFFECTIVE DATE OF 1962 AMENDMENT Subsec. (c)(23) of this section applicable with respect to taxable years ending after Dec. 31, 1961, see section 2(h) of Pub. L. 87-834, set out as an Effective Date note under section 38 of this title. EFFECTIVE DATE OF 1959 AMENDMENT Amendment by Pub. L. 86-69 applicable only with respect to taxable years beginning after December 31, 1957. see section 4 of Pub. L. 86-69, set out as an Effec- tive Date note under section 801 of this title. EFFECTIVE DATE OF 1958 AMENDMENT For effective date of amendment by Pub. L. 85-866, which added subsec. (c)(21), see section 29(d) of Pub. L. 85-866, set out as an Effective Date of 1958 Amend- ment note under section 481 of this title. EFFECTIVE DATE OF 1956 AMENDMENT Section 2 of act Jan. 28, 1956, provided that: "The amendments made by the first section of this Act [adding subsec. (c), par (20) of this section] shall reply with respect to taxable years beginning after Decem- ber 31, 1953, and ending after August 16, 1954." EFFECTIVE DATE OF 1955 AMENDMENT Section 3 of act June 15, 1955, provided that the repeal of sections 452 and 462 of this title and par. (7), subsec. (c) of this section, should apply with respect to taxable years beginning after Dec. 31, 1953, and ending after Aug. 16, 1954. SAVINGS PROVISIONS Section 4 of act June 12, 1955, provided: "(a) FILING OF STATEMENT.-If- "(1) the amount of any tax required to be paid for any taxable year ending on or before the date of the enactment of this Act [June 15, 19551 is increased by reason of the enactment of this Act [repealing sec- tions 452 and 462, and par. (7) of subsec. (c) of this sec- tion], and "(2) the last date prescribed for payment of such tax (or any installment thereof) is before December 15, 1955, then the taxpayer shall, on or before December 15, 1955, file a statement which shows the increse in the amount of such tax required to be paid by reason of the enactment of this Act. "(b) FORM AND EFFECT OF STATEMENT.- "(1) FORM OF STATEMENT, ETc.-The statement re- quired by subsection (a) shall be filed at the place fixed for filing the return. Such statement shall be in such form, and shall include such information neces- sary or approprate to show the increase In the amount of the tax required to be paid for the taxable year by reason of the enactment of this Act, as the Secretary of the Treasury or his delegate shall by regulations prescribe. "(2) TREATMENT AS AMOUNT SHOWN ON RETURN.-The amount shown on a statement filed under subsection (a) as the increase in the amount of the tax required to be paid for the taxable year by reason of the enact- ment of this Act shall, for all purposes of the internal revenue laws, be treated as tax shown on the return. Notwithstanding the preceding sentence, that portion of the ainount of increase in tax for any taxable year which is attributable to a decrease (by reason of the enactment of this Act) in the net operating loss for a succeeding taxable year shall not be treated as tax shown on the return. "(3) WAIVER OF INTEREST IN CASE OF PAYMENT ON OR BEFORE DECEMBER 15, 1955.-If the taxpayer, on or before December 15, 1955, files the statement referred to in subsection (a) and pays in full that portion of the amount shown thereon for which the last date pre- scribed for payment is before December 15, 1955, then for purposes of computing interest (other than inter- est on overpayments) such portion shall be treated as having been paid on the last date prescribed for pay- ment. This paragraph shall not apply if the amount shown on the statement as the Increase in the amount of the tax required to be paid for the taxable year by reason of the enactment of this Act is greater than the actual increase unless the taxpayer establishes, to the satisfaction of the Secretary of the Treasury or his delegate, that his computation of the greater amount was based upon a reasonable interpretation and appli- cation of sections 452 and 462 of the Internal Revenue Code of 1954 (sections 452 and 462 of this title], as those sections existed before the enactment of this Act. "(C) SPECIAL RULES.- "(1) INTEREST FOR PERIOD BEFORE ENACTMENT-Inter- est shall not be imposed on the amount of any in- crease in tax resulting from the enactment of this Act for any period before the day after the date of the en- actment of this Act [June 15, 1955]. "(2) ESIMATED TA.-Any addition to the tax under section 294(d) of the Internal Revenue Code of 1939 [section 294(d) of former Title 26, Internal Revenue Code], shall be computed as if this Act had not been enacted. In the case of any Installment for which the last date prescribed for payment is before December 15, 1955, any addition to the tax under section 6654 of the Internal Revenue Code of 1954 [section 6654 of this title], shall be computed as If this Act had not been enacted. "(3) TREATMENT OF CERTAIN PAYMENTS WHILH TAXPAY- ER IS REQUIRED TO MAKE.-If- "(A) the taxpayer is required to make a payment (or an additional payment) to another person by reason of the enactment of this Act, and "(B) the Internal Revenue Code of 1954 [this title] prescribes a period, which expires after the close of the taxable year, within which the taxpayer must make such payment (or additional payment) If the amount thereof is to be taken into account (as a de- duction or otherwise) in computing taxable income for such taxable year, then, subject to such regulations as the Secretary of the Treasury or his delegate may prescribe, if stch payment (or additional payment) is made on or before December 15, 1955, it shall be treated as having been made within the period prescribed by such Code. "(4) TREATMENT OF CERTAIN DIVIDENDS.-Subject to such regulations as the Secretary of the Treasury or his delegate may prescribe, for purposes of section 561(a)(1) of the Internal Revenue Code of 1954 [sec- tion 561(a)(1) of this title], dividends paid after the § 381 Page 278