26 U.S.C. § 4953
Tax on excess contributions to black lung benefit trusts
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 4953, Tax on excess contributions to black lung benefit trusts, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/463536
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Full text
There is hereby imposed for each taxable year a tax in an amount equal to 5 percent of the amount of the excess contributions made by a person to or under a trust or trusts described in section 501(c)(21). The tax imposed by this subsection shall be paid by the person making the excess contribution.
For purposes of this section, the term “excess contribution” means the sum of—
the amount determined under this subsection for the preceding taxable year, reduced by the sum of—
Amounts distributed during the taxable year from a trust described in section 501(c)(21) to the contributor thereof the sum of which does not exceed the amount of the excess contribution made by the contributor shall not be treated as—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Black Lung Benefits Revenue Act of 1977House: no recorded tallySenate: no recorded tally