adjustment year
Defined in 2 places of the United States Code.
The term “adjustment year” means the calendar year following any calendar year that includes the effective date of a change in the prescribed U.S. valuation interest rate for life insurance with guaranteed durations of more than 20 years (as defined in the National Association of Insurance Commissioners’ Standard Valuation Law).
Source
- 2021–present26 U.S.C. § 7702Internal Revenue Code · Life insurance contract defined · for purposes of this section
The term "adjustment year" means the partnership taxable year in which—
(A) in the case of an adjustment pursuant to the decision of a court in a proceeding brought under section 6234, such decision becomes final,
(B) in the case of an administrative adjustment request under section 6227, such administrative adjustment request is made, or
(C) in any other case, notice of the final partnership adjustment is mailed under section 6231.
Source
- 2017–present26 U.S.C. § 6225Internal Revenue Code · Assessments made only after partnership level proceedings are completed · for purposes of this subchapter