§7807 Rules in effect upon enactment of this title

Summary

Keep the old rules in force until new regulations are written under this title. Any instructions, rules, or regulations that were in effect right before this title became law must be treated as if they were the new regulations, but only where those old rules could have been issued under the same authority in the new title. When a part of the title talks about applying rules to earlier time periods, read it to mean the matching rule from the Internal Revenue Code of 1939 or other tax laws that applied then, if that makes sense for the rule’s purpose. If an election or other act under the Internal Revenue Code of 1939 would have continued to apply after the date this title became law, and the new title has a corresponding rule, that election or act will continue under the new rule.