Code · BILL · 115th Congress · S. 554 (Introduced in Senate) — To provide for reconciliation pursuant to section 2002 of the concurrent resolution on the budget for fiscal year 2017. · Sec. 222

Sec. 222. Economic substance doctrine

113 words·~1 min read·/bill/115/s/554/is/section-222·

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Subsection

(o)of section 7701 of the Internal Revenue Code of 1986 is repealed. Paragraph

(6)of section 6662(b) of the Internal Revenue Code of 1986 is repealed. Subsection

(i)of section 6662 of the Internal Revenue Code of 1986 is repealed. Paragraph

(2)of section 6664(c) of the Internal Revenue Code of 1986 is repealed. Paragraph

(2)of section 6664(d) of the Internal Revenue Code of 1986 is repealed. Subsection

(c)of section 6676 of the Internal Revenue Code of 1986 is repealed. The repeals made by this section shall apply to transactions entered into, and to underpayments, understatements, or refunds and credits attributable to transactions entered into, after December 31, 2017.