18 CFR 367.4340

§ 367.4340 Account 434, Extraordinary income.

United States · 18 CFR — Conservation of Power and Water Resources · Status: effective

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Citation: 18 CFR 367.4340, § 367.4340 Account 434, Extraordinary income, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/71591
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Full text

This account must be credited with gains of unusual nature and infrequent occurrence that would significantly distort the current year's income computed before extraordinary items, if reported other than as extraordinary items. Income tax relating to the amounts recorded in this account must be recorded in account 409.3, Income taxes, extraordinary items (§ 367.4093) (See General Instructions in § 367.8).

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.