US Code

Public Law 119-73 (01/23/2026)

50 U.S.C. § 4136

Deductions in making awards

(a)
In determining the amount of any award there shall be deducted all amounts the claimant has received on account of the same loss or losses with respect to which an award is made under this subchapter.
(b)
26 U.S.C. 1 Each claim in excess of $10,000 filed under this subchapter by a corporation shall include a statement under oath disclosing the aggregate amount of Federal tax benefits derived by such corporation in any prior taxable year or years resulting from any deduction or deductions claimed for the loss or losses with respect to which such claim is filed. In determining the amount of any award where the allowable loss exceeds $10,000 there shall be deducted an amount equal to the aggregate amount of Federal tax benefits so derived by the claimant. For the purposes of this subsection, such Federal tax benefits shall be the aggregate of the amounts by which the claimant’s taxes for such year or years under chapters 1, 2A, 2B, 2D, and 2E of the Internal Revenue Code of 1939, or subtitle A of the Internal Revenue Code of 1986 [ et seq.] were decreased with respect to such loss or losses. Any payments made on an award reduced by reason of this subsection shall be exempt from Federal income taxes.

July 3, 1948, ch. 826Pub. L. 87–846, title I, § 10376 Stat. 1110Pub. L. 99–514, § 2100 Stat. 2095(, title II, § 206, as added , , ; amended , , .)

Editorial Notes

References in Text

Pub. L. 99–514, § 2100 Stat. 2095section 1 of Title 26section 7852(b) of Title 26The Internal Revenue Code of 1939, referred to in subsec. (b), was generally repealed by section 7851 of the Internal Revenue Code of 1954, Title 26. The Internal Revenue Code of 1954 was redesignated the Internal Revenue Code of 1986 by , , . For table of comparisons of the 1939 Code to the 1986 Code, see Table I preceding , Internal Revenue Code. See also for provision that references in any other law to a provision of the 1939 Code, unless expressly incompatible with the intent thereof, shall be deemed a reference to the corresponding provision of the 1986 Code.

act Oct. 20, 1951, ch. 521, title I65 Stat. 469act Feb. 25, 1944, ch. 63, title I58 Stat. 31act Oct. 21, 1942, ch. 619, title I56 Stat. 860section 7851(a)(1)(B) of Title 26Chapter 1 of the Internal Revenue Code of 1939, referred to in subsec. (b), was comprised of sections 1 to 482 of former Title 26, Internal Revenue Code. Section 14 of former Title 26 was repealed by , pt. II, § 121(g), . Sections 34 and 185 of former Title 26 were repealed by , §§ 106(c)(2), 107(a), . Sections 264 and 363 of former Title 26 were repealed by , §§ 159(e), 170(a), , 878. Sections 430 to 474 of former Title 26 were omitted from the Code, and subsequently, along with the remaining sections of former Title 26 comprising chapter 1, except sections 143 and 144, were repealed by sections 7851(a)(1)(A) of Title 26, Internal Revenue Code. Sections 143 and 144 of former Title 26 were repealed by .

section 7851(a)(1)(A) of Title 26Chapter 2A of the Internal Revenue Code of 1939, referred to in subsec. (b), was comprised of sections 500 to 511 of former Title 26, Internal Revenue Code. Sections 500 to 511 were repealed by , Internal Revenue Code.

act Nov. 8, 1945, ch. 453, title II, § 20259 Stat. 574Chapter 2B of the Internal Revenue Code of 1939, referred to in subsec. (b), was comprised of sections 600 to 605 of former Title 26, Internal Revenue Code. Sections 600 to 605 were repealed by , , eff. with respect to taxable years ending .

section 7851(a)(1)(A) of Title 26Chapter 2D of the Internal Revenue Code of 1939, referred to in subsec. (b), was comprised of sections 700 to 706 of former Title 26, Internal Revenue Code. Sections 700 to 716 were repealed by , Internal Revenue Code.

act Nov. 8, 1945, ch. 453, title I, § 122(a)59 Stat. 568act Oct. 21, 1942, ch. 619, title II56 Stat. 920act Oct. 21, 1942, ch. 619, title II, § 229(a)(1)56 Stat. 931Chapter 2E of the Internal Revenue Code of 1939, referred to in subsec. (b), was comprised of sections 710 to 784 of former Title 26, Internal Revenue Code. Sections 710 to 736, 740, 742 to 744, 750, 751, 760, 761 and 780 to 784 were repealed by , . Section 741 was repealed by , §§ 224(b), 228(b), , 925. Section 752 was repealed by , , eff. as of .

act Aug. 16, 1954, ch. 73668A Stat. 4Subtitle A of the Internal Revenue Code of 1986, referred to in subsec. (b), is subtitle A of , , which comprises subtitle A (§ 1 et seq.) of Title 26, Internal Revenue Code.

Codification

Section was formerly classified to section 2017e of the former Appendix to this title prior to editorial reclassification and renumbering as this section.

Amendments

Pub. L. 99–5141986—Subsec. (b). substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”.