[§235-2.35]  Operation of certain Internal Revenue Code provisions not operative under section 235-2.3.  Notwithstanding the meaning of "Internal Revenue Code" as that term is used in section [235-2.3], beginning April 1, 2010, the following sections of the federal Internal Revenue Code of 1986, as amended as of April 1, 2010, shall be operative for purposes of this chapter:

     (1)  Section 6041 as applicable to persons under section 6041(h) (with respect to information returns at the source for certain corporations);

     (2)  Section 6038D (with respect to information with respect to foreign financial assets).  With respect to persons required to report information under this section, section 6662(j) (with respect to imposition of accuracy-related penalties on underpayments) and section 6501(e)(1)(A)(ii) (with respect to limitations on assessment and collection) shall also be operative for purposes of this chapter and shall be applied consistently with the correlating provisions of [sections] 231-36.6 and 235-111;

     (3)  Section 6045B (with respect to returns relating to actions affecting basis in securities); and

     (4)  Section 6050W (with respect to returns relating to payments made in settlement of payment card and third party network transactions). [L 2010, c 112, §2]