26 U.S.C. § 3451 : US Code - Section 3451 TO 3456: Repealed. Pub. L. 98-67, title I, Sec. 102(a), Aug. 5, 1983, 97 Stat. 369]

Search 26 U.S.C. § 3451 : US Code - Section 3451 TO 3456: Repealed. Pub. L. 98-67, title I, Sec. 102(a), Aug. 5, 1983, 97 Stat. 369]

Section 3451, Pub. L. 97-248, title III, Sec. 301, Sept. 3, 1982,
96 Stat. 576, set forth withholding requirements respecting income
tax collected at source on interest, dividends, and patronage
dividends.
Section 3452, Pub. L. 97-248, title III, Sec. 301, Sept. 3, 1982,
96 Stat. 577, related to exemptions from withholding requirements.
Section 3453, Pub. L. 97-248, title III, Sec. 301, Sept. 3, 1982,
96 Stat. 579; Pub. L. 97-354, Sec. 3(i)(1), Oct. 19, 1982, 96 Stat.
1690, defined "payor".
Section 3454, Pub. L. 97-248, title III, Sec. 301, Sept. 3, 1982,
96 Stat. 580; Pub. L. 97-354, Sec. 3(i)(2), (3), Oct. 19, 1982, 96
Stat. 1690; Pub. L. 97-424, title V, Sec. 547(b)(3), Jan. 6, 1983,
96 Stat. 2200, defined the terms "interest", "dividend", and
"patronage dividend".
Section 3455, Pub. L. 97-248, title III, Sec. 301, Sept. 3, 1982,
96 Stat. 583, set forth definitions and other special rules.
Section 3456, Pub. L. 97-248, title III, Sec. 301, Sept. 3, 1982,
96 Stat. 585, set forth administrative provisions.
EFFECTIVE DATES; SPECIAL RULES
Pub. L. 97-248, title III, Sec. 308, Sept. 3, 1982, 96 Stat. 591,
which provided that the amendments made by sections 301 to 308
[enacting subchapter B (Secs. 3451-3456) of chapter 24 of this
title and amending sections 31, 274, 275, 643, 661, 3403, 3502,
3507, 6013, 6015, 6042, 6044, 6049, 6051, 6365, 6401, 6413, 6654,
6682, 7205, 7215, 7654, and 7701 of this title] would apply to
payments of interest, dividends, and patronage dividends paid or
credited after June 30, 1983, provided for the delay in
applications for payors unable to comply with the requirements of
such provisions without undue hardship, provided a temporary rule
for certain withholding exemptions, and provided for delays in
making deposits, was repealed by Pub. L. 98-67, title I, Sec.
102(a), Aug. 5, 1983, 97 Stat. 369.
REPEAL OF WITHHOLDING ON INTEREST AND DIVIDENDS
Pub. L. 98-67, title I, Sec. 102(a)-(d), Aug. 5, 1983, 97 Stat.
369, as amended by Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100 Stat.
2095, provided that:
"(a) In General. - Subtitle A of title III of the Tax Equity and
Fiscal Responsibility Act of 1982 (relating to withholding of tax
from interest and dividends) [subtitle A (Secs. 301-308) of title
III of Pub. L. 97-248, which enacted this section and sections 3452
to 3456 of this title, amended sections 31, 274, 275, 643, 661,
3403, 3502, 3507, 6013, 6015, 6042, 6044, 6051, 6365, 6401, 6413,
6654, 6682, 7205, 7215, 7654, and 7701 of this title and enacted
provisions set out as a note above] is hereby repealed as of the
close of June 30, 1983.
"(b) Conforming Amendment. - Except as provided in this section,
the Internal Revenue Code of 1986 [formerly I.R.C. 1954] shall be
applied and administered as if such subtitle A (and the amendments
made by such subtitle A) had not been enacted.
"(c) Repeal Not To Apply to Amounts Deducted and Withheld Before
September 2, 1983. -
"(1) In general. - If, notwithstanding the repeal made by
subsection (a) (and the provisions of subsection (b)), an amount
is deducted and withheld before September 2, 1983, under
subchapter B of chapter 24 of the Internal Revenue Code of 1986
(as in effect before its repeal by subsection (a)), the repeal
made by subsection (a) (and the provisions of subsection (b))
shall not apply to the amount so deducted and withheld.
"(2) Election to have paragraph (1) not apply. - Paragraph (1)
shall not apply with respect to any payor who elects (at the time
and in the manner prescribed by the Secretary of the Treasury or
his delegate) to have paragraph (1) not apply.
"(d) Estimated Tax Payments. - For purposes of determining the
amount of any addition to tax under section 6654 of the Internal
Revenue Code of 1986 with respect to any installment required to be
paid before July 1, 1983, the amount of the credit allowed by
section 31 of such Code for any taxable year which includes any
portion of the period beginning July 1, 1983, and ending December
31, 1983, shall be increased by an amount equal to 10 percent of
the aggregate amount of payments -
"(1) which are received during the portion of such taxable year
after June 30, 1983, and before January 1, 1984, and
"(2) which (but for the repeal made by subsection (a)) would
have been subject to withholding under subchapter B of chapter 24
of such Code (determined without regard to any exemption
described in section 3452 of such subchapter B)."