Page:United States Statutes at Large Volume 98 Part 1.djvu/839

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 791

"(B) to the extent allowed under regulations prescribed by the Secretary, any overpayment of the tax imposed by section 4986 (determined without regard to section 4995(a)(4)(B)). "(g) APPLICATION OF SECTION IN CASE OF TAX WITHHELD ON WAGES.—

"(1) IN GENERAL.—For purposes of applying this section, the amount of the credit allowed under section 31 for the taxable year shall be deemed a payment of estimated tax, and an equal part of such amount shall be deemed paid on each due date for such taxable year, unless the taxpayer establishes the dates on which all amounts were actually withheld, in which case the amounts so withheld shall be deemed payments of estimated tax on the dates on which such amounts were actually withheld. "(2) SEPARATE APPLICATION.—The taxpayer may apply paragraph (1) separately with respect to— "(A) wage withholding, and "(B) all other amounts withheld for which credit is allowed under section 31.

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"(h) SPECIAL RULE WHERE RETURN FILED ON OR BEFORE JANUARY

31.—If^ on or before January 31 of the following taxable year, the taxpayer files a return for the taxable year and pays in full the amount computed on the return as payable, then no addition to tax shall be imposed under subsection (a) with respect to any underpa}'ment of the 4th required installment for the taxable year.

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"(i) SPECIAL RULES FOR FARMERS AND FISHERMEN.—For purposes of

this section— "(1) IN GENERAL.—If an individual is a farmer or fisherman for any taxable year— "(A) there shall be only 1 required installment for the b taxable year, "(B) the due date for such installment shall be January 15 of the following taxable year, "(C) the amount of such installment shall be equal to the •i required annual payment (determined under subsection (d)(1)(B) by substituting '66% percent' for '80 percent', and eii i "(D) subsection (h) shall be applied— "(i) by substituting 'March 1' for 'January 31', and "(ii) by treating the required installment described in subparagraph (A) of this paragraph as the 4th required installment. ' "(2) FARMER OR FISHERMAN DEFINED.—An individual is a farmer or fisherman for any tsixable year if— "(A) the individual's gross income from farming or fishing (including oyster farming) for the taxable year is at B it I least 66% percent of the total gross income from all sources for the taxable year, or "(B) such individual's gross income from farming or fishing (including oyster farming) shown on the return of the individual for the preceding taxable year is at least 66% 1:percent of the total gross income from all sources shown on such return, "(j) FISCAL YEARS AND SHORT YEARS.— "(1) FISCAL YEARS.—In applying this

section to a taxable year beginning on any date other than January 1, there shall be substituted, for the months specified in this section, the months which correspond thereto.

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