§593. Reserves for losses on loans — Inbound Citations
26 U.S.C. § 593
Cited by 2 provisions in release 119-102.
Citations to 26 U.S.C. § 593 as a whole
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(g) In the case of a bank which changes from the reserve method of accounting for bad debts described in section 585 or 593 for its first taxable year for which an election under section 1362(a) is in effect, the bank may elect to take into account any adjustments under section 481 by reason of such change for the taxable year immediately preceding such first taxable year.
Citations to §593(e)
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(A) The term “recognition period” means the 5-year period beginning with the 1st day of the 1st taxable year for which the corporation was an S corporation. For purposes of applying this section to any amount includible in income by reason of distributions to shareholders pursuant to section 593(e), the preceding sentence shall be applied without regard to the phrase “5-year”.