merchandise return period
Defined in 1 place of the United States Code.
Except as provided in subparagraph (B), the term “merchandise return period” means, with respect to any taxable year—
(i) in the case of magazines, the period of 2 months and 15 days first occurring after the close of taxable year, or
(ii) in the case of paperbacks and records, the period of 4 months and 15 days first occurring after the close of the taxable year.
Source
- 1994–present26 U.S.C. § 458Internal Revenue Code · Magazines, paperbacks, and records returned after the close of the taxable year · under this section