Page:United States Statutes at Large Volume 91.djvu/186

 91 STAT. 152 26 USC 105 note.

PUBLIC LAW 95-30—MAY 23, 1977 (d) PERIOD FOR ASSESSING D E F I C I E X C Y. — I n the case of any revoca-

tion made under subsection (c), the period for assessing a deficiency with respect to any taxable year affected by the revocation shall not expire before the date which is 1 year after the date of the making of the revocation, and, notwithstanding any law or rule of law, such deficiency, to the extent attributable to such revocation, may be assessed at any time during such 1-year period. 26 USC 105 note. (e) EFFECTIVE D A T E. — The amendments made by this section shall take effect on October 4, 1976, but shall not apply— (1) with respect to any taxpayer who makes or has made an election under section 1 0 5 (d)(7) of the I n t e r n a l Revenue Code 26 USC 105. of 1954 or under section 505(d) of the T a x Reform Act of 1976 26 USC 105 note. (as such sections were in effect before the enactment of this Act) for a taxable year beginning in 1976, if such election is not revoked under subsection (c) of this section, and (2) with respect to any taxpayer (other than a taxpayer described in paragraph (1)) who has an annuity s t a r t i n g date at the beginning of a taxable year beginning in 1976 by reason of the amendments made by section 505 of the T a x Reform Act of 1976 (as in effect before the enactment of this Act), unless such person elects (in such manner as the Secretary of the Treasury or his delegate may by regulations prescribe) to have such amendments apply. SEC. 302. CHANGES IN TREATMENT OF INCOME EARNED ABROAD BY UNITED STATES CITIZENS LIVING OR RESIDING ABROAD. 26 USC 911 note. Subsection (d) of section 1011 of the T a x Reform Act of 1976 is amended by striking out "December 31, 1975" and inserting in lieu thereof "December 31, 1976". . SEC. 303. UNDERPAYMENTS OF ESTIMATED TAX. 26 USC 6654 No addition to the tax shall be made under section 6654 or 6655 of note. the I n t e r n a l Revenue Code of 1954 (relating to failure to p a y esti26 USC 6654, mated income tax) for any period before April 16, 1977 (March 16, 6655. 1977, in the case of a taxpayer subject to section 6655), with respect to any underpayment, to the extent that such underpayment was created or increased by any provision of the T a x Reform Act of 1976. SEC. 304. UNDERWITHHOLDING. 26 USC 3402 No person shall be liable in respect of any failure to deduct and note. withhold under section 3402 of the I n t e r n a l Revenue Code of 1954 26 USC 3402. (relating to income tax collected at source) on remuneration paid before January 1, 1977, to the extent that the d u t y to deduct and withhold was created or increased by any provision of the T a x Reform Act 26 USC 1 note. of 1976. SEC. 305. INTEREST ON UNDERPAYMENTS OF TAX. 26 USC 6601 No interest shall be payable for any period before April 16, 1977 note. (March 16, 1977, in the case of a corporation), on any underpayment of a tax imposed by the I n t e r n a l Revenue Code of 1954, to the extent 26 USC 1. that such underpayment was created or increased by any provision of the T a x Reform Act of 1976. SEC. 306. USE OF RESIDENCE AS DAY CARE FACILITY. 26 USC 280A. (a) I x GENERAL.—Subsection (c) of section 280A (relating to exceptions for certain business or rental use; limitation on deductions for such use) is amended by redesignating paragraph (4) as paragraph (5) and by inserting after paragraph (3) the following new paragraph:

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