§ 301.9100-1T - Extensions of time to make elections (temporary).

(a)-(c) [Reserved]

(d) Introduction. The regulations under this section and §§ 301.9100-2T through 301.9100-3T provide the standards the Commissioner will use to determine whether to grant an extension of time to make a regulatory election. The regulations under this section and §§ 301.9100-2T through 301.9100-3T also provide an automatic extension of time to make certain statutory elections. An extension of time is available for elections that a taxpayer is otherwise eligible to make and the granting of an extension of time is not a determination that the taxpayer is otherwise eligible to make the election. Section 301.9100-2T provides automatic extensions of time for making regulatory and statutory elections when the deadline for making the election is the due date of the return or the due date of the return including extensions. Section 301.9100-3T provides extensions of time for making regulatory elections that do not meet the requirements of § 301.9100-2T.

(e) Terms. The following terms have the meanings provided below:

Election includes an application for relief in respect of tax; a request to adopt, change, or retain an accounting method or accounting period; but does not include an application for an extension of time for filing a return under section 6081.

Regulatory election means an election whose deadline is prescribed by a regulation published in the Federal Register, or a revenue ruling, revenue procedure, notice, or announcement published in the Internal Revenue Bulletin.

Statutory election means an election whose deadline is prescribed by statute.

Taxpayer means any person within the meaning of section 7701(a)(1).

(f) General standards for relief. The Commissioner in the Commissioner's discretion may grant a reasonable extension of time to make a regulatory election, or a statutory election (but no more than 6 months except in the case of a taxpayer who is abroad), under all subtitles of the Internal Revenue Code except subtitles E, G, H, and I, provided the taxpayer demonstrates to the satisfaction of the Commissioner that——

(1) The taxpayer acted reasonably and in good faith; and

(2) Granting relief will not prejudice the interests of the government.

(g) Exceptions. Notwithstanding the provisions of paragraph (f) of this section, an extension of time will not be granted—

(1) For elections under section 4980A(f)(5);

(2) For elections required to be made prior to November 20, 1970, in the case of an election——

(i) Required to be made in or with the taxpayer's original income tax return;

(ii) Required to be exercised by filing a claim for credit or refund, unless the election is required to be exercised on or before a date that precedes the date of expiration of the period of limitations provided in section 6511;

(iii) Required to be filed in a petition to the Tax Court;

(iv) To change a previous election;

(v) To change an accounting method as described in §§ 1.77-1 of this chapter and 1.446-1 of this chapter;

(vi) To change an accounting period as described in § 1.442-1 of this chapter; or

(vii) To change the method of treating bad debts as described in § 1.166-1 of this chapter; or

(3) For elections that are expressly excepted from relief or where alternative relief is provided by a statute, a regulation published in the Federal Register, or a revenue ruling, revenue procedure, notice, or announcement published in the Internal Revenue Bulletin.

(h) Effective dates. In general, this section and §§ 301.9100-2T through 301.9100-3T are effective for all requests for relief being considered by the IRS on June 27, 1996 and for all requests for relief submitted on or after June 27, 1996. However, the automatic 12-month extension and the automatic 6-month extension provided in § 301.9100-2T are effective for elections whose due dates are on or after June 27, 1996.