Except as provided in paragraph (3), every organization exempt from taxation under section 501(a) shall file an annual return, stating specifically the items of gross income, receipts, and disbursements, and such other information for the purpose of carrying out the internal revenue laws as the Secretary may by forms or regulations prescribe, and shall keep such records, render under oath such statements, make such other returns, and comply with such rules and regulations as the Secretary may from time to time prescribe; except that, in the discretion of the Secretary, any organization described in section 401(a) may be relieved from stating in its return any information which is reported in returns filed by the employer which established such organization.
Every tax-exempt entity described in section 4965(c) shall file (in such form and manner and at such time as determined by the Secretary) a disclosure of-
Paragraph (1) shall not apply to-
The Secretary may relieve any organization required under paragraph (1) (other than an organization described in section 509(a)(3)) to file an information return from filing such a return where he determines that such filing is not necessary to the efficient administration of the internal revenue laws.
The organizations referred to in subparagraph (A)(ii) are-
Every organization described in section 501(c)(3) which is subject to the requirements of subsection (a) shall furnish annually information, at such time and in such manner as the Secretary may by forms or regulations prescribe, setting forth-
except to the extent that, by reason of section 4962, the taxes imposed under such section are not required to be paid or are credited or refunded,
For purposes of paragraph (8), if section 4911(f) applies to the organization for the taxable year, such organization shall furnish the amounts with respect to the affiliated group as well as with respect to such organization.
In the case of an organization which is a private foundation (within the meaning of section 509(a))-
Nothing in paragraph (1) shall require the inclusion of the name and address of any recipient (other than a disqualified person within the meaning of section 4946) of 1 or more charitable gifts or grants made by the foundation to such recipient as an indigent or needy person if the aggregate of such gifts or grants made by the foundation to such recipient during the year does not exceed $1,000.
The following organizations shall comply with the requirements of this section in the same manner as organizations described in section 501(c)(3) which are exempt from tax under section 501(a):
A trust described in section 4947(a)(1) (relating to nonexempt charitable trusts).
A private foundation which is not exempt from tax under section 501(a).
If this subsection applies to an organization for any taxable year, such organization-
This subsection shall apply to any organization which is exempt from taxation under section 501 other than an organization described in section 501(c)(3).
This subsection shall not apply to the in-house expenditures (within the meaning of section 162(e)(4)(B)(ii)) of an organization for a taxable year if such expenditures do not exceed $2,000. In determining whether a taxpayer exceeds the $2,000 limit under this clause, there shall not be taken into account overhead costs otherwise allocable to activities described in subparagraphs (A) and (D) of section 162(e)(1).
This subsection shall not apply to any amount on which tax is imposed by reason of section 527(f).
For purposes of this paragraph-
Expenditures to which section 162(e)(1) applies shall be treated as paid out of dues or other similar amounts to the extent thereof.
If expenditures to which section 162(e)(1) applies exceed the dues or other similar amounts for any taxable year, such excess shall be treated as expenditures to which section 162(e)(1) applies which are paid or incurred by the organization during the following taxable year.
If an organization-
then there is hereby imposed on such organization for such taxable year a tax in an amount equal to the product of the highest rate of tax imposed by section 11 for the taxable year and the aggregate amount not included in such notices by reason of such election or failure.
The Secretary may waive the tax imposed by subparagraph (A)(ii) for any taxable year if the organization agrees to adjust its estimates under paragraph (1)(A)(ii) for the following taxable year to correct any failures.
For purposes of this title, the tax imposed by subparagraph (A) shall be treated in the same manner as a tax imposed by chapter 1 (relating to income taxes).
Paragraph (1)(A) shall not apply to an organization which establishes to the satisfaction of the Secretary that substantially all of the dues or other similar amounts paid by persons to such organization are not deductible without regard to section 162(e).
Every organization described in section 501(c)(4) which is subject to the requirements of subsection (a) shall include on the return required under subsection (a)-
This section shall apply to a political organization (as defined by section 527(e)(1)) which has gross receipts of $25,000 or more for the taxable year. In the case of a political organization which is a qualified State or local political organization (as defined in section 527(e)(5)), the preceding sentence shall be applied by substituting "$100,000" for "$25,000".
Political organizations described in paragraph (1) shall file an annual return-
Paragraph (2) shall not apply to an organization-
The Secretary may relieve any organization required under paragraph (2) to file an information return from filing such a return if the Secretary determines that such filing is not necessary to the efficient administration of the internal revenue laws.
Each controlling organization (within the meaning of section 512(b)(13)) which is subject to the requirements of subsection (a) shall include on the return required under subsection (a)-
Any organization the gross receipts of which in any taxable year result in such organization being referred to in subsection (a)(3)(A)(ii) or (a)(3)(B)-
If an organization described in subsection (a)(1) or (i) fails to file the annual return or notice required under either subsection for 2 consecutive years, the Secretary shall notify the organization-
The notification under the preceding sentence shall include information about how to comply with the filing requirements under subsections (a)(1) and (i).
If an organization described in subsection (a)(1) or (i) fails to file an annual return or notice required under either subsection for 3 consecutive years, such organization's status as an organization exempt from tax under section 501(a) shall be considered revoked on and after the date set by the Secretary for the filing of the third annual return or notice. The Secretary shall publish and maintain a list of any organization the status of which is so revoked.
Any organization the tax-exempt status of which is revoked under paragraph (1) must apply in order to obtain reinstatement of such status regardless of whether such organization was originally required to make such an application.
If, upon application for reinstatement of status as an organization exempt from tax under section 501(a), an organization described in paragraph (1) can show to the satisfaction of the Secretary evidence of reasonable cause for the failure described in such paragraph, the organization's exempt status may, in the discretion of the Secretary, be reinstated effective from the date of the revocation under such paragraph.
Every organization described in section 4966(d)(1) shall, on the return required under subsection (a) for the taxable year-
Every organization described in section 509(a)(3) shall, on the return required under subsection (a)-
An organization described in section 501(c)(29) shall include on the return required under subsection (a) the following information:
Any organization required to file a return under this section shall file such return in electronic form.
For provisions relating to statements, etc., regarding exempt status of organizations, see section 6001.
For reporting requirements as to certain liquidations, dissolutions, terminations, and contractions, see section 6043(b). For provisions relating to penalties for failure to file a return required by this section, see section 6652(c).
For provisions relating to information required in connection with certain plans of deferred compensation, see section 6058.
26 U.S.C. § 6033
Inflation Adjusted Items for Certain YearsFor inflation adjustment of certain items in this section, see Revenue Procedures listed in a table under section 1 of this title.
EDITORIAL NOTES
REFERENCES IN TEXTSection 6056 of this title, referred to in subsec. (c)(1), was repealed by Pub. L. 96-603, §1(c), Dec. 28, 1980, 94 Stat. 3504.The Federal Election Campaign Act of 1971, referred to in subsec. (g)(3)(F), is Pub. L. 92-225, Feb. 7, 1972, 86 Stat. 3, which was formerly classified principally to chapter 14 (§431 et seq.) of Title 2, The Congress, prior to editorial reclassification and renumbering in Title 52, Voting and Elections, and is now classified principally to chapter 301 (§30101 et seq.) of Title 52. Section 301 of the Act is now classified to section 30101 of Title 52. For complete classification of this Act to the Code, see Tables.
CODIFICATIONSections 1205(b)(1), 1223(a), (b), 1235(a)(1), and 1245(a), (b) of Pub. L. 109-280, which directed the amendment of section 6033 without specifying the act to be amended, were executed to this section, which is section 6033 of the Internal Revenue Code of 1986, to reflect the probable intent of Congress. See 2006 Amendment notes below.
AMENDMENTS2019-Subsec. (j)(1). Pub. L. 116-25, §3102(a), added subpar. (A), redesignated existing provisions as subpar. (B), and inserted subpar. (B) heading.Subsecs. (n), (o). Pub. L. 116-25, §3101(a), added subsec. (n) and redesignated former subsec. (n) as (o).2018-Subsec. (b)(14). Pub. L. 115-141, §401(d)(6)(B)(v), struck out "including the amount and use of qualified contributions to which section 1400S(a) applies," after "disaster relief activities,".Subsec. (b)(15)(B). Pub. L. 115-141, §401(a) (258), substituted "statement), and" for "statement)." 2017-Subsec. (e)(1)(B)(ii). Pub. L. 115-97 substituted "section 162(e)(4)(B)(ii)" for "section 162(e)(5)(B)(ii)". 2015-Subsec. (f). Pub. L. 114-113 substituted "under subsection (a)-" for "under subsection (a)", inserted par. (1) designation before "the information", substituted "to such organization, and" for "to such organization.", and added par. (2).2010-Subsec. (b)(10)(D). Pub. L. 111-148, §9007(d)(2), added subpar. (D). Subsec. (b)(15), (16). Pub. L. 111-148, §9007(d)(1), added par. (15) and redesignated former par. (15) as (16).Subsecs. (m), (n). Pub. L. 111-148, §1322(h)(2), added subsec. (m) and redesignated former subsec. (m) as (n).2008-Subsec. (b)(14), (15). Pub. L. 110-343 added par. (14) and redesignated former par. (14) as (15).2006-Subsec. (a)(1). Pub. L. 109-222, §516(b)(1)(B), substituted "paragraph (3)" for "paragraph (2)". Subsec. (a)(2). Pub. L. 109-222, §516(b)(1)(A), added par. (2). Former par. (2) redesignated (3).Subsec. (a)(3). Pub. L. 109-222, §516(b)(1)(A), redesignated par. (2) as (3). Subsec. (a)(3)(B). Pub. L. 109-280, §1245(a), inserted "(other than an organization described in section 509(a)(3))" after "paragraph (1)". See Codification note above.Subsec. (h). Pub. L. 109-280, §1205(b)(1), added subsec. (h). Former subsec. (h) redesignated (i). See Codification note above.Subsec. (i). Pub. L. 109-280, §1223(a), added subsec. (i). Former subsec. (i) redesignated (j). See Codification note above. Pub. L. 109-280, §1205(b)(1), redesignated subsec. (h) as (i). See Codification note above. Subsec. (j). Pub. L. 109-280, §1223(b), added subsec. (j). Former subsec. (j) redesignated (k). See Codification note above. Pub. L. 109-280, §1223(a), redesignated subsec. (i) as (j). See Codification note above.Subsec. (k). Pub. L. 109-280, §1235(a)(1), added subsec. (k). Former subsec. (k) redesignated (l). See Codification note above. Pub. L. 109-280, §1223(b), redesignated subsec. (j) as (k). See Codification note above. Subsec. (l). Pub. L. 109-280, §1245(b), added subsec. (l). Former subsec. (l) redesignated (m). See Codification note above. Pub. L. 109-280, §1235(a)(1), redesignated subsec. (k) as (l). See Codification note above.Subsec. (m). Pub. L. 109-280, §1245(b), redesignated subsec. (l) as (m). See Codification note above.2002-Subsec. (g). Pub. L. 107-276 reenacted heading without change and amended text generally. Prior to amendment, text read as follows: "In the case of a political organization required to file a return under section 6012(a)(6)-"(1) such organization shall file a return-"(A) containing the information required, and complying with the other requirements, under subsection (a)(1) for organizations exempt from taxation under section 501(a), and"(B) containing such other information as the Secretary deems necessary to carry out the provisions of this subsection, and "(2) subsection (a)(2)(B) (relating to discretionary exceptions) shall apply with respect to such return." 2000-Subsecs. (g), (h). Pub. L. 106-230 added subsec. (g) and redesignated former subsec. (g) as (h). 1998-Subsec. (c). Pub. L. 105-277 inserted "and" at end of par. (1), redesignated par. (3) as (2), and struck out former par. (2) which read as follows: "a copy of the notice required by section 6104(d) (relating to public inspection of private foundations' annual returns), together with proof of publication thereof, shall be filed by the foundation together with the annual return under this section, and". 1997-Subsec. (b)(10). Pub. L. 105-34, §1603(b)(1)(A), in introductory provisions, substituted "the respective amounts (if any) of the taxes imposed on the organization, or any organization manager of the organization, during the taxable year under any of the following provisions (and the respective amounts (if any) of reimbursements paid by the organization during the taxable year with respect to taxes imposed on any such organization manager under any of such provisions):" for "the respective amounts (if any) of the taxes paid by the organization during the taxable year under the following provisions:".Subsec. (b)(10)(C). Pub. L. 105-34, §1603(b)(1)(B), inserted at end "except to the extent that, by reason of section 4962, the taxes imposed under such section are not required to be paid or are credited or refunded,".Subsec. (b)(11). Pub. L. 105-34, §1603(b)(2), amended par. (11) generally. Prior to amendment, par. (11) read as follows: "the respective amounts (if any) of the taxes paid by the organization, or any disqualified person with respect to such organization, during the taxable year under section 4958 (relating to taxes on private excess benefit from certain charitable organizations),". 1996-Subsec. (b)(10) to (14). Pub. L. 104-168, §1312(a), added pars. (10) to (13) and redesignated former par. (10) as (14).Subsec. (e)(1)(B)(i). Pub. L. 104-188, §1703(g)(2), substituted "section 501" for "this subtitle". Subsec. (e)(1)(B)(iii). Pub. L. 104-188, §1703(g)(1), added subcl. (iii).Subsecs. (f), (g). Pub. L. 104-168, §1312(b), added subsec. (f) and redesignated former subsec. (f) as (g).1993-Subsecs. (e), (f). Pub. L. 103-66 added subsec. (e) and redesignated former subsec. (e) as (f). 1987-Subsec. (b)(9), (10). Pub. L. 100-203 added pars. (9) and (10).1986-Subsec. (e). Pub. L. 99-514 substituted "section 6652(c)" for "section 6652(d)". 1980-Subsecs. (c) to (e). Pub. L. 96-603 added subsecs. (c) and (d) and redesignated former subsec. (c) as (e). 1976-Subsec. (a)(1), (2). Pub. L. 94-455, §1906(b)(13)(A), struck out "or his delegate" after "Secretary" wherever appearing.Subsec. (b). Pub. L. 94-455, §§1307(a)(4), 1906(b)(13)(A), struck out in provisions preceding par. (1) "or his delegate" after "Secretary" and added par. (8) and sentence at end.1974-Subsec. (c). Pub. L. 93-406 inserted reference to section 6058 covering provisions relating to information required in connection with certain plans of deferred compensation. 1969-Subsec. (a). Pub. L. 91-172, §101(d)(1), added churches, their integrated auxiliaries, conventions or associations of churches, religious activities of religious orders, and organizations that normally have gross yearly receipts of not more than $5,000, to list of exempt organizations that were excepted from filing information returns, gave the Secretary or his delegate discretion to so except any such organization, and shortened list of educational organizations so excepted. Subsec. (b)(3). Pub. L. 91-172, §101(d)(2)(A), struck out "out of income" after "its disbursements".Subsec. (b)(4). Pub. L. 91-172, §101(d)(2)(B), (j)(30), redesignated par. (7) as (4) and struck out "and" at end. Former par. (4), making accumulation of income within year as an item of information to be furnished, was struck out. Subsec. (b)(5). Pub. L. 91-172, §101(d)(2)(B), (C), substituted total of contributions and gifts received during year and contributors' names and addresses for aggregate accumulation of income at beginning of year as item of information to be furnished.Subsec. (b)(6). Pub. L. 91-172, §101(d)(2)(B), (C), substituted names and addresses of foundation managers for disbursements out of principal in current and prior years as item of information to be furnished.Subsec. (b)(7). Pub. L. 91-172, §101(d)(2)(B), (C), added par. (7) and redesignated former par. (7) as (4).Subsec. (b)(8). Pub. L. 91-172, §101(d)(2)(B), struck out par. (8) which made total of contributions and gifts received during year as item of information to be furnished. Subsec. (c). Pub. L. 91-172, §101(j)(31), inserted cross references to section 6043(b) and 6652(d). 1958-Subsec. (b)(8). Pub. L. 85-866 added par. (8).
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2019 AMENDMENT Amendment by section 3101(a) of Pub. L. 116-25 applicable to taxable years beginning after July 1, 2019, with certain transitional relief permitted, see section 3101(d) of Pub. L. 116-25, set out as a note under section 527 of this title.Pub. L. 116-25, title III, §3102(b), July 1, 2019, 133 Stat. 1016, provided that: "The amendment made by this section [amending this section] shall apply to failures to file returns or notices for 2 consecutive years if the return or notice for the second year is required to be filed after December 31, 2019."
EFFECTIVE DATE OF 2017 AMENDMENT Amendment by Pub. L. 115-97 applicable to amounts paid or incurred on or after Dec. 22, 2017, see section 13308(c) of Pub. L. 115-97, set out as a note under section 162 of this title.
EFFECTIVE DATE OF 2015 AMENDMENT Amendment by Pub. L. 114-113 applicable to organizations which are described in section 501(c)(4) of this title and organized after Dec. 18, 2015, and to certain then-existing organizations, see section 405(f) of Pub. L. 114-113, set out as an Effective Date note under section 506 of this title.
EFFECTIVE DATE OF 2010 AMENDMENT Amendment by section 9007(d) of Pub. L. 111-148 applicable to taxable years beginning after Mar. 23, 2010, see section 9007(f)(1) of Pub. L. 111-148, set out as a note under section 501 of this title.
EFFECTIVE DATE OF 2008 AMENDMENT Pub. L. 110-343, div. C, title VII, §703(b), Oct. 3, 2008, 122 Stat. 3919, provided that: "The amendments made by this section [amending this section] shall apply to returns the due date for which (determined without regard to any extension) occurs after December 31, 2008."
EFFECTIVE DATE OF 2006 AMENDMENT Pub. L. 109-280, §1205(c)(2), Aug. 17, 2006, 120 Stat. 1068, provided that: "The amendments made by subsection (b) [amending this section] shall apply to returns the due date (determined without regard to extensions) of which is after the date of the enactment of this Act [Aug. 17, 2006]." Pub. L. 109-280, §1223(f), Aug. 17, 2006, 120 Stat. 1091, provided that: "The amendments made by this section [amending this section and sections 6652 and 7428 of this title] shall apply to notices and returns with respect to annual periods beginning after 2006." Pub. L. 109-280, §1235(a)(2), Aug. 17, 2006, 120 Stat. 1101, provided that: "The amendments made by this subsection [amending this section] shall apply to returns filed for taxable years ending after the date of the enactment of this Act [Aug. 17, 2006]." Pub. L. 109-280, §1245(c), Aug. 17, 2006, 120 Stat. 1108, provided that: "The amendments made by this section [amending this section] shall apply to returns filed for taxable years ending after the date of the enactment of this Act [Aug. 17, 2006]."Amendment by Pub. L. 109-222 applicable to disclosures the due date for which are after May 17, 2006, see section 516(d)(2) of Pub. L. 109-222, set out as an Effective Date note under section 4965 of this title.
EFFECTIVE DATE OF 2002 AMENDMENT Amendment by Pub. L. 107-276 effective as if included in the amendments made by Pub. L. 106-230, see section 3(d) of Pub. L. 107-276, set out as a note under section 6012 of this title.
EFFECTIVE DATE OF 2000 AMENDMENT Amendment by Pub. L. 106-230 applicable to returns for taxable years beginning after June 30, 2000, see section 3(d) of Pub. L. 106-230, set out as a note under section 6012 of this title.
EFFECTIVE DATE OF 1998 AMENDMENT Amendment by Pub. L. 105-277 applicable to requests made after the later of Dec. 31, 1998, or the 60th day after the Secretary of the Treasury first issues the regulations referred to in section 6104(d)(4) of this title, see section 1004(b)(3) of Pub. L. 105-277, set out as a note under section 6104 of this title.
EFFECTIVE DATE OF 1997 AMENDMENT Amendment by Pub. L. 105-34 effective as if included in the provisions of the Taxpayer Bill of Rights 2, Pub. L. 104-168, to which such amendment relates, see section 1603(c) of Pub. L. 105-34, set out as a note under section 4962 of this title.
EFFECTIVE DATE OF 1996 AMENDMENTS Amendment by Pub. L. 104-188 effective as if included in the provision of the Revenue Reconciliation Act of 1993, Pub. L. 103-66, §§13001 -13444, to which such amendment relates, see section 1703(o) of Pub. L. 104-188, set out as a note under section 39 of this title. Pub. L. 104-168, §1312(c), July 30, 1996, 110 Stat. 1479, provided that: "The amendments made by this section [amending this section] shall apply to returns for taxable years beginning after the date of the enactment of this Act [July 30, 1996]."
EFFECTIVE DATE OF 1993 AMENDMENT Amendment by Pub. L. 103-66 applicable to amounts paid or incurred after Dec. 31, 1993, see section 13222(e) of Pub. L. 103-66, set out as a note under section 162 of this title.
EFFECTIVE DATE OF 1987 AMENDMENT Pub. L. 100-203, title X, §10703(b), Dec. 22, 1987, 101 Stat. 1330-461, provided that: "The amendments made by subsection (a) [amending this section] shall apply to returns for years beginning after December 31, 1987."
EFFECTIVE DATE OF 1986 AMENDMENT Amendment by Pub. L. 99-514 applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L. 99-514, set out as an Effective Date note under section 6721 of this title.
EFFECTIVE DATE OF 1980 AMENDMENT Pub. L. 96-603, §1(f), Dec. 28, 1980, 94 Stat. 3505, provided that: "The amendments made by this section [amending this section and sections 6034, 6104, 6652, 6685, and 7207 of this title and repealing section 6056 of this title] shall apply to taxable years beginning after December 31, 1980."
EFFECTIVE DATE OF 1976 AMENDMENT Amendment by section 1307(a)(4) of Pub. L. 94-455 effective on or after Oct. 4, 1976, see section 1307(e)(6) of Pub. L. 94-455, set out as a note under section 501 of this title.
EFFECTIVE DATE OF 1974 AMENDMENT Amendment by Pub. L. 93-406 effective Sept. 2, 1974, see section 1034 of Pub. L. 93-406, set out as an Effective Date note under section 6057 of this title.
EFFECTIVE DATE OF 1969 AMENDMENT Amendment by Pub. L. 91-172 applicable to taxable years beginning after Dec. 31, 1969, see section 101(k)(2)(B) of Pub. L. 91-172, set out as a note under section 4940 of this title.
EFFECTIVE DATE OF 1958 AMENDMENT Amendment by Pub. L. 85-866 applicable to taxable years ending on or after Dec. 31, 1958, see section 75(c) of Pub. L. 85-866, set out as a note under section 6104 of this title.
SAVINGS PROVISIONFor provisions that amendment made by section 401(d)(6)(B)(v) of Pub. L. 115-141 not apply, in the case of certain repeals, to various types of wages, bonds, property, or other items before specific dates, see section 401(d)(6)(C) of Pub. L. 115-141, set out as a note under former section 1400L of this title. For provisions that nothing in amendment by section 401(d)(6)(B)(v) of Pub. L. 115-141 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Mar. 23, 2018, for purposes of determining liability for tax for periods ending after Mar. 23, 2018, see section 401(e) of Pub. L. 115-141, set out as a note under section 23 of this title.
SECRETARIAL OUTREACH REQUIREMENTS Pub. L. 109-280, §1223(e), Aug. 17, 2006, 120 Stat. 1091, provided that:"(1) NOTICE REQUIREMENT.-The Secretary of the Treasury shall notify in a timely manner every organization described in section 6033(i) of the Internal Revenue Code of 1986 (as added by this section) of the requirement under such section 6033(i) and of the penalty established under section 6033(j) of such Code-"(A) by mail, in the case of any organization the identity and address of which is included in the list of exempt organizations maintained by the Secretary, and"(B) by Internet or other means of outreach, in the case of any other organization."(2) LOSS OF STATUS PENALTY FOR FAILURE TO FILE RETURN.-The Secretary of the Treasury shall publicize, in a timely manner in appropriate forms and instructions and through other appropriate means, the penalty established under section 6033(j) of such Code for the failure to file a return under subsection (a)(1) or (i) of section 6033 of such Code."
- Internal Revenue Code of 1986
- The term "Internal Revenue Code of 1986" means this title, and the term "Internal Revenue Code of 1939" means the Internal Revenue Code enacted February 10, 1939, as amended.
- Secretary of the Treasury
- The term "Secretary of the Treasury" means the Secretary of the Treasury, personally, and shall not include any delegate of his.
- Secretary
- The term "Secretary" means the Secretary of the Treasury or his delegate.
- State
- The term "State" shall be construed to include the District of Columbia, where such construction is necessary to carry out provisions of this title.
- corporation
- The term "corporation" includes associations, joint-stock companies, and insurance companies.
- person
- The term "person" shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation.
- taxable year
- The term "taxable year" means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. "Taxable year" means, in the case of a return made for a fractional part of a year under the provisions of subtitle A or under regulations prescribed by the Secretary, the period for which such return is made.
- taxpayer
- The term "taxpayer" means any person subject to any internal revenue tax.
- transaction
- The term "transaction" includes a series of transactions.