PUBLIC LAW 101-239—DEC. 19, 1989 103 STAT. 2303 Sec. 7508. Taxation of bulk cigar imports. Subtitle F—Miscellaneous Provisions I PART I—LIMITATION ONNoNRECOGNrnoN FOR CsaiTAiN EXCHANGES Sec. 7601. Like kind exchanges between related persons. PART II—MINIMUM TAX PROVISIONS Sec. 7611. Simplification of adjusted current earnings preference. Sec. 7612. Other modifications to minimum tax. PART III—ACCOUNTING PROVISIONS Sec. 7621. Repeid of completed contract method of accounting for long-term con- tracts. Sec. 7622. Changes in treatment of transfers of franchises, trademarks, and trade names. PART IV—EMPLOYMENT TAX PROVISIONS Sec. 7631. Treatment of agricultural workers under wage withholding. Sec. 7632. Acceleration of deposit requirements. •J />> 5-,< PART V—OTHER PROVISIONS Sec. 7641. Limitation on section 104 exclusion. Sec. 7642. Treatment of distributions by partnerships of contributed property. Sec. 7643. Depreciation treatment of cellular telephones. Sec. 7644. Elimination of retroactive certification of employees for work incentive jobs credit. Sec. 7645. Disallowance of depreciation for certain term interests. Sec. 7646. Reporting of points on mortgage loans. Sec. 7647. Treatment of certain investment-oriented life insurance contracts. PART VI—TAX-EXEMPT BOND I*ROVISIONS Sec. 7651. Treatment of hedge bonds. Sec. 7652. Exceptions from arbitrage rebate requirement. Subtitle G—Revision of Civil Penalties Sec. 7701. Short title. PART I—DOCUMENT AND INFORMATION RETURN PENALTIES Sec. 7711. Uniform penalties for failures to comply with certain information report- ing requirements. Sec. 7712. Information required with respect to certain foreign corporations. Sec. 7713. Uniform requirements for returns on magnetic media. Sec. 7714. Study of procedures to prevent mismatching. Sec. 7715. Study of service bureaus. PART II—REVISION OF ACCURACY-RELATED PENALTIES Sec. 7721. Revision of accuracy-related penalties. PART III—PREPARER, PROMOTER, AND PROTESTER PENALTIES Sec. 7731. Penalty for instituting proceedings before tax court primarily for delay, etc. Sec. 7732. Modifications to penalties on return preparers for certain understate- ments. Sec. 7733. Modifications to other assessable penalties with respect to return prepar- ers. Sec. 7734. Modifications to penalty for promoting abusive tax shelters, etc. Sec. 7735. Modifications to penalties for aiding and abetting understatement of tax liability. Sec. 7736. Modification to penalty for frivolous income tax return. • Sec. 7737. Authority to counterclaim for balance of penalty in partial refund suits. Sec. 7738. Repeal of bonding requirement under section 7407. Sec. 7739. Certain disclosures of information by preparers permitted. PART IV—FAILURES TO FILE OR PAY Sec. 7741. Increase in penalty for fraudulent failure to file. Sec. 7742. Failure to make deposit of taxes. Sec. 7743. Effect of payment of tax by recipient on certain penalties.
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