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Treasury Regulations · 26 CFR

§ 18.1379-1. Transitional rules on enactment.

In effect eCFR current as of October 15, 2026

Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).

Regulation under 26 U.S.C. § 1379

Cite as 26 CFR § 18.1379-1

At a glance

Read from the text and its source citation. Not part of the regulation.

Status
In the current eCFR
Source
T.D. 7872, 48 FR 3590, Jan. 26, 1983, unless otherwise noted.
Issued under
26 U.S.C. § 1379
Length
359 words · about 2 min to read
Cross-references
cites 4 Code sections and 0 regulations; cited by 0
(a) Prior elections. Any election that was made under section 1372(a) (as in effect before the enactment of the Subchapter S Revision Act of 1982), and that is still in effect as of the first day of a taxable year beginning in 1983, shall be treated as being an election made under section 1362(a). In addition, any election that was made under section 1371(g)(2) (as in effect before the enactment of that Act), and that is still in effect as of the first day of a taxable year beginning in 1983, shall be treated as being an election made under section 1362(d)(2).
(b) Prior terminations. For purposes of section 1362(g), any termination under section 1372(e) (as in effect before the enactment of the Subchapter S Revision Act of 1982) shall not be taken into account.
(c) Time and manner of making an election under section 6(c)(3)(B) of the Subchapter S Revision Act of 1982. In the case of a qualified oil corporation (as defined in section 6(c)(3)(B) of the Subchapter S Revision Act of 1982), the corporation may elect under that section of the Act to have the amendments made by the Act not apply and to have Subchapter S (as in effect on July 1, 1982), Chapter I of the Internal Revenue Code of 1954 apply. The election shall be made by the corporation by filing a statement that—
(1) Contains the name, address, and taxpayer identification number of the corporation and of each shareholder,
(2) Identifies the election as an election under section 6(c)(3)(B) of the Subchapter S Revision Act of 1982, and
(3) Provides all information necessary in the judgment of the district director to show that the corporation meets the requirements (other than the requirement of making this election) of a qualified oil corporation.

The statement shall be signed by any person authorized to sign the return required to be filed under section 6037 and by each person who is or was a shareholder in the corporation at any time during the taxable year beginning in 1983 and shall be filed with the return for that taxable year.

Other regulations under § 1379

Cross-references

Computed from the citations in the text of 26 CFR.

Code sections it cites

Where it sits in 26 CFR

  1. Subchapter A Income tax
  2. Part 18 Temporary income tax regulations under the subchapter s revision act of 1982

Nearby sections