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VOLUME 2 0

N n to
NUMBER 49

Washington, Friday, March 11, 1955
CONTENTS
TITLE 26 INTERNAL REVENUE, person may elect to have the adjustments to the cost or other basis of property 1954
under section 1016 a 2 determined Agriculture Department
PaS
in accordance with subparagraph B See also Commodity Stabilization of such section by filing a statement of Service: Farmers Home Admin election in accordance with the require istration.
T . D . 6 125
ments set forth in paragraph b of this Notices:
section.
Any election made after 1952
Minnesota; designation of areas P a rt 1 I n c o m e T a x : T a x a b l e Y e a r s shall be irrevocable when made. Any for emergency loans----------- 1514
B e g i n n i n g A f t e r D e c e m b e r 31, 1953
election made after 1952 shall apply with e l e c t io n i n r e s p e c t o f d e p r e c ia t io n respect to all property held by the person Civil Aeronautics Administra tion On December 14,1954, a notice of pro making the election at any time on or be and regulations:
posed rule making with respect to sec fore December 31, 1952, and shall apply Rules Restricted areas; alterations;
tion 1020 of the Internal Revenue Code to all periods since February 28, 1913, correction__________ ______ 1468
of 1954 Public Law 591, 83d Congress, and before January 1,1952, during which Standard instrument approach such person held such property or for approved August 16,1954 was published procedures; procedure altera in the F e d e r a l R e g i s t e r 19 F. R. 8537. which adjustments must be made under tions______________ ;______ 1469
No protests having been received, the section 1016 b. For rules with respect regulations so published are hereby to an election made on or before Decem Commerce Department adopted, subject to the changes set forth ber 31, 1952, see paragraph c of this See Civil Aeronautics Adminis section.
tration.
below:
. "
2 An election by a partner on his Section 1.1020-1 is changed by strik Commodity Stabilization Service ing paragraph d and inserting para own behalf is not an election for the Rules and regulations:
partnership of which he is a member. A
graphs d and e in lieu thereof.
Wheat; 1955-56 marketing year;
As amended, 1.1020 and 1.1020-1 separate election must be made on behalf increase in acreage allotments of the partnership. See section 703 b now read as follows:
for production of Durum relating to elections of the partner . Wheat Class H ______ ___ 1508
1.1020 Statutory provisions; elec ship. An election on behalf of the tion in respect of depreciation, etc., partnership applies only with respect to Defense Department allowed before 1952.
the partnership, and does not apply to Delegation of authority to Secre S e c . 1020. E l e c tio n i n r e s p e c t o f d e p r e c ia
the separate property of the partners.
tary to represent Federal Gov tio n , e tc ., a llo w e d b e fo r e 1 9 5 2 . A n y p e r s o n A similar rule applies with respect to ernment before Federal Power m ay e le c t t o h a v e s u b p a r a g r a p h B o f s e c
elections by trusts and beneficiaries of Commission in the matter of in tio n 1016 a 2 a p p ly i n r e s p e c t o f p e r io d s creased gas rates for Southern trusts. These rules also apply with re since F e b r u a r y 28, 1913, a n d b e f o r e J a n u a r y Natural Gas Co. see General spect to a revocation of an election where 1, 1952. S u c h a n e l e c tio n s h a l l b e m a d e i n Services Administration.
s u c h m a n n e r a s t h e S e c r e ta r y o r h i s d e le g a te such election was made on or before m ay b y r e g u l a t i o n s p r e s c r ib e a n d s h a l l b e December 31, 1952.
Defense Mobilization Office irrev o c a b le w h e n m a d e , e x c e p t t h a t a n e le c
b Rules applicable to making ofRules and regulations:
tio n m a d e o n o r b e f o r e D e c e m b e r 3 1, 1952, Making the Administrator of election. The following rules are ap m ay b e re v o k e d a t a n y t i m e b e f o r e J a n u a r y the Federal Civil Defense Ad 1, 1955. A r e v o c a t io n o f a n e l e c tio n s h a l l b e plicable to the making of an election m a d e i n s u c h m a n n e r a s t h e S e c r e ta r y o r h i s ministration a member of the under section 1020:
d e le g a te m a y b y r e g u l a t i o n s p r e s c r ib e , a n d Defense Mobilization Board- 1473
1 Form of election.
The election n o e le c tio n m a y b e m a d e b y a n y p e r s o n a f t e r shall be in the form of a statement in Farmers Home Administration h e h a s so r e v o k e d a n e le c tio n . T h e e le c tio n s h a ll a p p ly i n r e s p e c t o f a l l p r o p e r t y h e l d b y writing, shall state the name and address Rules and regulations:
th e p e rs o n m a k i n g t h e e l e c tio n a t a n y t i m e Loan limitations, basic regula of the taxpayer making the election, and o n o r b e fo re D e c e m b e r 3 1, 1952, a n d i n r e
tions; average values of shall contain a statement that such tax sp e c t o f a ll p e r io d s s in c e F e b r u a r y 28, 1913, farms:
payer elects to have the provisions of a n d b e fo re J a n u a r y 1, 1952, d u r i n g w h i c h Arizona and New Mexico___ 1508
s u c h p e r s o n h e l d s u c h p r o p e r t y o r f o r w h ic h section 1016 a 2 B apply in respect Maine_____________________ 1508
a d ju s t m e n ts m u s t b e m a d e u n d e r s e c t i o n of all periods since February 28, 1913, 1016 b . A n e l e c t i o n o r a r e v o c a t i o n o f a n Federal Communications Com and before January 1, 1952.
e le c tio n b y a t r a n s f e r o r , d o n o r , o r g r a n t o r mission 2 Signature. The statement shall m ade a fte r th e d a te o f th e tra n s fe r, g ift, o r g ra n t o f p r o p e r ty s h a l l n o t a f f e c t t h e b a s is be signed by the taxpayer making the Notices:
of s u c h p r o p e r ty i n t h e h a n d s o f t h e t r a n s
Hearings, etc.:
election, if an individual, or, if the tax feree, d o n e e , o r g r a n t e e . N o e le c tio n m a y Dispatch, Inc--------------------- 1514
payer making the election is not an be m a d e u n d e r t h i s s e c t i o n a f t e r D e c e m b e r Indiana Bell Telephone Co.
31, 1954.
individual, the statement shall be signed and Union Telephone Co 1514
Texas Star Broadcasting Co.
1.1020-1 Election as to amounts by the person or persons required to sign and KTRH Broadcasting allowed in respect of depreciation, etc., the income return of such taxpayer.
Co. KTRH____________ 1514
C o n tin u e d o n n e x t p a g e before 1952 a In general. 1. Any 1467
Chapter I Internal Revenue Service, Department of the Treasury