Code Section 6697
|Code Section||Effective Date||Name of Act||Name of Provision||10yr Revenue Estimate ($millions)|
|6697||12/22/2010||Regulated Investment Company Modernization Act of 2010||Repeal of Assessable Penalty with Respect to Liability for Tax of RICs||Loss of less than 0.5|
Repeal of Assessable Penalty with Respect to Liability for Tax of RICs
Explanation of Provision
The provision repeals the additional penalty with respect to deficiency dividends.
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