98 STAT. 498
PUBLIC LAW 98-369—JULY 18, 1984 Sec. Sec. Sec. Sec.
221. 222. 223. 224.
Subtitle B—Taxation of Life Insurance Products Definition of life insurance contract. Treatment of certeiin annuity contracts. Group-term life insurance purchased for employees. Treatment of certain exchanges of insurance policies. Subtitle C—Studies
Sec. 231. Studies. TITLE III—REVISION OF PRIVATE FOUNDATION PROVISIONS Sec. 301. Limitations on deduction for contributions to private foundations. Sec. 302. Exemption for certain operating foundations from excise tax on investment income. Sec. 303. Reduction in excise tax on investment income where private foundation meets certain distribution requirements. Sec. 304. Amendment to taxes on failure to distribute income. Sec. 305. Abatement of first tier taxes in certain cases. Sec. 306. Miscellaneous amendments. Sec. 307. 5-year extension of retjuirement to dispose of certain excess holdings attributable to large gifts and bequests. Sec. 308. Decreases attributable to stock issuances not to reduce permitted percentage of holdings where decrease is 2 percent or less. Sec. 309. Aggregation of stock holdings of private foundation and disqualified persons in applying 95 percent ownership test. Sec. 310. 5-year period to dispose of excess holdings resulting from certain acquisitions by disqualified persons. Sec. 311. The conducting of certain games of chance not treated as unrelated trade or business. Sec. 312. Tax on self-dealing not to apply to certain stock purchases. Sec. 313. Person ceases to be substantial contributor after 10 years with no connection to foundation. Sec. 314. Technical amendments. TITLE IV—TAX SIMPLIFICATION Subtitle A—Revision and Simplification of Estimated Income Tax for Individuals Sec. 411. Revision of penalty for failure to pay estimated income tax. Sec. 412. Repeal of requirement of declarations, etc. Sec. 413. Crediting of income tax overpayment against estimated tax liability. Sec. 414. Effective dates. Subtitle B—Domestic Relations Treatment of transfers of property between spouses or incident to divorce. Tfix treatment of alimony and separate maintenance payments. Dependency exemption in the case of child of divorced parents, etc. Innocent spouse relieved of liability in certain cases. Treatment of certain property settlements for purposes of estate and gift taxes. Sec. 426. Income from sheltered workshops not taken into account in determining dependency exemption.
Sec. Sec. Sec. Sec. Sec.
421. 422. 423. 424. 425.
Subtitle C—Revision of At-Risk Rules Sec. 431. Revision of investment credit at-risk rules. Sec. 432. Exclusion of active businesses of qualified C corporations from at-risk rules, etc. Subtitle D—Miscellaneous Treasury Administrative Provisions PART I—PROVISIONS NOT RELATING TO DISTILLED SPIRPTS TAX
Sec. Sec. Sec. Sec.
441. 442. 443. 444.
Simplification of certain reporting requirements. Removal of $1,000,000 limitation on working capital fund. Increase in limitation on revolving fund for redemption of real property. Removal of $1,000,000 limitation on special authority to dispose of obligations. Sec. 445. Secretary of the Treasury authorized to accept gifts and bequests. Sec. 446. Extension of period for court review of jeopardy assessment where prompt service not made on the United States. Sec. 447. Extension of period during which additional tax shown on amended return may be assessed.
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