Page:United States Statutes at Large Volume 94 Part 3.djvu/757

 PUBLIC LAW 96-589—DEC. 24, 1980

94 STAT. 3401

"(9) Every estate of an individual under chapter 7 or 11 of title 11 of the United States Code (relating to bankruptcy) the gross ^^ USC 701 et income of which for the taxable year is $2,700 or more." H^l ^^ g^ (2) Paragraph (4) of section 6012(b) (relating to returns of 26 USC 6012. estates and trusts) is amended by striking out "an estate or a trust" and inserting in lieu thereof "an estate, a trust, or an estate of an individual under chapter 7 or 11 of title 11 of the United States Code". (c) DISCLOSURE OF RETURNS.—

(1) Subsection (e) of section 6103 (relating to confidentiality and 26 USC 6103. disclosure of returns and return information) is amended by striking out paragraph (4), by redesignating paragraphs (5) and (6) as paragraphs (6) and (7), respectively, and by inserting after paragraph (3) the following new paragraphs: "(4) TITLE i i CASES AND RECEIVERSHIP PROCEEDINGS.—If^

"(A) there is a trustee in a title 11 case in which the debtor n USC lOl is the person with respect to whom the return is filed, or ^* ^^^ "(B) substantially all of the property of the person with respect to whom the return is filed is in the hands of a receiver, such return or returns for prior years of such person shall, upon written request, be open to inspection by or disclosure to such trustee or receiver, but only if the Secretary finds that such trustee or receiver, in his fiduciary capacity, has a material interest which will be affected by information contained therein. "(5) INDIVIDUAL'S TITLE i i CASE.—

"(A) IN GENERAL.—In any case to which section 1398 ^"^^' P- ^397. applies (determined without regard to section 1398(b)(1)), any return of the debtor for the taxable year in which the case commenced or any preceding taxable year shall, upon written request, be open to inspection by or disclosure to the trustee in such case. "(B) RETURN OF ESTATE AVAILABLE TO DEBTOR.—Any return of an estate in a case to which section 1398 applies shall, upon written request, be open to inspection by or disclosure to the debtor in such case. "(C) SPECIAL RULE FOR INVOLUNTARY CASES.—In an involuntary case, no disclosure shall be made under subparagraph (A) until the order for relief has been entered by the court having jurisdiction of such case unless such court finds that such disclosure is appropriate for purposes of determining whether an order for relief should be entered." (2) Paragraph (6) of section 6103(e) (as redesignated by paragraph (1)) is amended by striking out "or (4)" and inserting in lieu Supra. thereof "(4), or (5)". (d) TECHNICAL AMENDMENT.—Subsection (e) of section 443 (relating 26 USC 443. to cross references) is amended by adding at the end thereof the following new sentence: "For returns for a period of less than 12 months in the case of a debtor's election to terminate a taxable year, see section 1398(d)(3)(E)." SEC. 4. CORPORATE REORGANIZATION PROVISIONS. (a) CERTAIN TRANSFERS IN TITLE 11 OR SIMILAR CASES TO B E INCLUDED IN DEFINITION OF REORGANIZATION.—Paragraph (1) of sec-

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tion 368(a) (defining reorganization) is amended by adding at the end 26 USC 368. thereof the following new subparagraph: "(G) a transfer by a corporation of all or part of its assets to another corporation in a title 11 or similar case; but only if,

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