Transcription of Part III - IRS tax forms
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1 Part III Administrative, Procedural, and Miscellaneous 26 CFR : Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also: Part I. 172; 6411 Rev. Proc. 2020-24 SECTION 1. PURPOSES .01 This revenue procedure provides guidance regarding elections described in section of this revenue procedure related to new 172(b)(1)(D) of the Internal revenue Code (Code) enacted by section 2303(b) of the Coronavirus Aid, Relief and Economic Security Act (CARES Act), Public Law 116-136, 134 Stat.)
Rev. Proc. 2020-24 and the taxable year for which the statement applies. Once made, the election is irrevocable. (2) Election to exclude section 965 years from carryback period. A taxpayer within the scope of this revenue procedure may elect under § …
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