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TITLE 26-INTERNAL REVENUE CODE the last day of any month other than Decem- ber. In the case of any taxpayer who has made the election provided by subsection (f) the term means the annual period (varying from 52 to 53 weeks) so elected. (f) Election of year consisting of 52-53 weeks (1) General rule A taxpayer who, in keeping his books, regu- larly computes his Income on the basis of an annual period which varies from 52 to 53 weeks and ends always on the same day of the week and ends always- (A) on whatever date such same day of the week last occurs in a calendar month, or (B) on whatever date such same day of the week falls which is nearest to the last day of a calendar month, may (in accordance with the regulations pre- scribed under paragraph (3)) elect to compute his taxable income for purposes of this subti- tle on the basis of such annual period. This paragraph shall apply to taxable years ending after the date of the enactment of this title. (2) Special rules for 52-53-week year (A) Effective dates In any case in which the effective date or the applicability of any provision of this title is expressed in terms of taxable years beginning, including, or ending with refer- ence to a specified date which is the first or last day of a month, a taxable year de- scribed in paragraph (1) shall (except for purposes of the computation under section 21) be treated- (i) as beginning with the first day of the calendar month beginning nearest to the first day of such taxable year, or (it) as ending with the last day of the calendar month ending nearest to the last day of such taxable year, as the case may be. (B) Change in accounting period In the case of a change from or to a tax- able year described in paragraph (1)- (I) if such change results in a short period (within the meaning of section 443) of 359 days or more, or of less than 7 days, section 443(b) (relating to alternative tax computation) shall not apply; (it) if such change results in a short period of less than 7 days, such short period shall, for purposes of this subtitle, be added to and deemed a part of the fol- lowing taxable year; and (iii) if such change results in a short period to which subsection (b) of section 443 applies, the taxable income for such short period shall be placed on an annual basis for purposes of such subsection by multiplying such income by 365 and divid- ing the result by the number of days in the short period, and the tax shall be the same part of the tax computed on the annual basis as the number of days in the short period is of 365 days. (3) Regulations The Secretary shall prescribe such regula- tions as he deems necessary for the applica- tion of this subsection. (g) No books kept; no accounting period Except as provided in section 443 (relating to returns for periods of less than 12 months), the taxpayer's taxable year shall be the calendar year if- (1) the taxpayer keeps no books; (2) the taxpayer does not have an annual accounting period; or (3) the taxpayer has an annual accounting period, but such period does not qualify as a fiscal year. (Aug. 16, 1954, ch. 736, 68A Stat. 148; Feb. 26, 1964, Pub. L. 88-272, title II, § 235(c)(3), 78 Stat. 127; Oct. 4, 1976, Pub. L. 94-455, Title XIX, § 1906(b)(13)(A), 90 Stat. 1834.) AMENDMErTs 1976--Subsec. (f)(3). Pub. L. 94-455 struck out "or his delegate" following "Secretary". 1964-Subsec. (f)(2)(A). Pub. L. 88-272 inserted ", in- cluding," preceding "cr ending with reference to". EnrEcivE D,\E or 1964 AMEMirr Amendment of section by Pub. L. 88-272 applicable to taxable years ending after Dec. 31, 1963, see section 235(d) of Pub. L. 88-272, set out as an Effective Date of 1964 Amendment note under section 1551 of this title. Cnoss REnm=cES Definitions of fiscal year and taxable year, see sec- tion 7701 of this title. General requirement of return, statement, or list, see section 6011 of this title. General rule for methods of accounting, see section 446 of this title. SECTION REFMRED TO IN OTHER SECTIONS This section is referred to in section 442 of this title. § 442. Change of annual accounting period If a taxpayer changes his annual accounting period, the new accounting period shall become the taxpayer's taxable year only if the change is approved by the Secretary. For purposes of this subtitle, if a taxpayer to whom section 441(g) applies adopts an annual accounting period (as defined in section 441(c)) other than a calendar year, the taxpayer shall be treated as having changed his annual accounting period. (Aug. 16, 1954, ch. 736, 68A Stat. 149; Oct. 4, 1976, Pub. L. 94-455, title XIX, § 1906(b)(13)(A), 90 Stat. 1834.) AMENDMENTS 1976-Pub. L. 94-455 struck out "or his delegate" fol- lowing "Secretary". SECTION RMWUsz TO IN OTHER SECTIONS This section is referred to in section 6110 of this title. § 443. Returns for a period of less than 12 months (a) Returns for short period A return for a period of less than 12 months (referred to in this section as "short period") shall be made under any of the following cir- cumstances: (1) Change of annual accounting period When the taxpayer, with the approval of the Secretary, changes his annual accounting Page 353 § 443