LETTER OF TRANSMITTAL

CONGRESS OF THE UNITED STATES,

JOINT COMMITTEE ON INTERNAL REVENUE TAXATION,

Washington, D.C., August 30, 1967.

MY DEAR MR. CHAIRMAN: There is respectfully transmitted herewith the legislative history of the Internal Revenue Code of 1954, covering all changes made from the date of its enactment on August 16, 1954, to the end of the first session of the 89th Congress in 1965.

This legislative history was prepared by F. Morse Hubbard, Esq. It was begun when Mr. Hubbard was an attorney on the staff of the Joint Committee on Internal Revenue Taxation and completed by him on his own time, since he left the staff.

It is hoped that this legislative history will fill a gap in the libraries of many agencies and attorneys concerned with research into Federal taxation, since there has been no comprehensive listing of the changes in the internal revenue laws since 1954. It is expected that the usefulness of this document will be increased by periodic supplements intended to be inserted in its back cover.

Respectfully submitted.

LAURENCE N. WOODWORTH,

Chief of Staff.

INTRODUCTION

This volume sets forth all of the changes made in the Internal Revenue Code of 1954 from the date of its enactment on August 16, 1954, to the end of the first Session of the 89th Congress in 1965. It is expected that subsequent changes will be described in cumulative supplements, for which a pocket is provided inside the back cover.

In addition to amendments, additions, revisions, repeals, and redesignations, there are included the numerous statutory provisions which relate to or affect the operation of certain portions of the Code without specifically amending them. Such provisions are inserted in their appropriate context as "Ancillary Provisions."

As a rule the sections of the Code are treated in their numerical order, and the changes are presented chronologically. Where, however, a chapter or a subdivision thereof has been completely revised, as, for example, in the cases of Chapter 1, Subchapter L, Part I (life insurance companies), and Chapters 51 (liquors), and 52 (tobacco), any changes made prior to the revision are covered before dealing with the revision itself and subsequent changes therein. This treatment sometimes involves a repetition of section numbers distinguished, however, by designating them as "original" or "revised," as the case may be.

The text of amended, revised, or repealed provisions, as existing prior to their amendment, revision, or repeal, is given either in footnotes or in one of the Appendixes.

Code provisions, ancillary provisions, and amendatory provisions with their effective dates and specified applicability, are cited by reference to their official sources in the Statutes at Large. All public laws are identified in accordance with the style adopted by the 85th Congress-namely, by omitting chapter numbers and by inserting the number of the Congress as a prefix to the number of the public law in question (e.g., "P. L. 89–1”).

The Tables and Appendixes are self-explanatory.

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