[Code of Federal Regulations]
[Title 26, Volume 7]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.547-4]

[Page 283]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.547-4  Effect on dividends paid deduction.

    The deficiency dividends deduction shall be allowed as of the date 
the claim is filed. No duplication of deductions with respect to any 
deficiency dividends is permitted. If a corporation claims and receives 
the benefit of the provisions of section 547 (or the corresponding 
section 506 of the Internal Revenue Code of 1939, or section 407 of the 
Revenue Act of 1938 (52 Stat. 447)), based upon a distribution of 
deficiency dividends, that distribution does not become a part of the 
dividends paid deduction under section 561. Likewise, it will not be 
made the basis of a dividends paid deduction under section 561 by reason 
of the application of section 563(b), relating to dividends paid after 
the close of the taxable year and on or before the 15th day of the third 
month following the close of such taxable year.