§ 127. Report of change in federal taxable income.--If the amount of a
taxpayer's federal taxable income reported on his federal income tax
return for any taxable year is changed or corrected by the United States
internal revenue service or other competent authority, or as the result
of a renegotiation of a contract or subcontract with the United States,
or if a taxpayer, pursuant to subsection (d) of section sixty-two
hundred thirteen of the internal revenue code, executes a notice of
waiver of the restrictions provided in subsection (a) of said section,
the taxpayer shall report such change or correction in federal taxable
income or such execution of such notice of waiver and the changes or
corrections of his federal taxable income on which it is based, within
ninety days after the final determination of such change, correction, or
renegotiation, or such execution of such notice of waiver, or as
otherwise required by the director of finance, and shall concede the
accuracy of such determination or state wherein it is erroneous. Any
taxpayer filing an amended federal income tax return shall also file
within ninety days thereafter an amended return under this title, and
shall give such information as the director of finance may require. The
director of finance may by regulation prescribe such exceptions to the
requirements of this section as he deems appropriate.