Description of Tax Bills (S. 578, S. 768, S. 1276, and S. 1472): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981U.S. Government Printing Office, 1981 - 14 pages |
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Page 3
... December 25 , 1979 . S.1276 S. 1276 would allow a qualified small business to write off one - third of inventory held for more than 12 months , 50 percent of inventory held for more than 24 months , and 100 percent of inventory held for ...
... December 25 , 1979 . S.1276 S. 1276 would allow a qualified small business to write off one - third of inventory held for more than 12 months , 50 percent of inventory held for more than 24 months , and 100 percent of inventory held for ...
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... 25, 1981. Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method ... December 31 , 1980 . S.1472 Under the provisions of S. 1472 , research or experimental expendi- tures which the ...
... 25, 1981. Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method ... December 31 , 1980 . S.1472 Under the provisions of S. 1472 , research or experimental expendi- tures which the ...
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... 25 million or less . Special rules would be provided to treat commonly controlled trades or businesses as a single ... December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of ...
... 25 million or less . Special rules would be provided to treat commonly controlled trades or businesses as a single ... December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of ...
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... December 25 , 1979 ( the date on which Rev. Proc . 80-5 and Rev. Rul . 80-60 became effective to implement the Thor Power decision ) . S. 1276 The amendments made by S. 1276 relating to inventory writedowns for qualified small ...
... December 25 , 1979 ( the date on which Rev. Proc . 80-5 and Rev. Rul . 80-60 became effective to implement the Thor Power decision ) . S. 1276 The amendments made by S. 1276 relating to inventory writedowns for qualified small ...
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... 25, 1981. 11 Two recent developments have ameliorated the adverse financial statement impact of the conformity ... December 31 , 1981 , market writedowns will be included in income ratably over a three - year period beginning with ...
... 25, 1981. 11 Two recent developments have ameliorated the adverse financial statement impact of the conformity ... December 31 , 1981 , market writedowns will be included in income ratably over a three - year period beginning with ...
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Common terms and phrases
$10 million limitation 578 would allow 80-5 and Revenue account for purposes accounting for inventories allow taxpayers apply to taxable beginning after December capital ex change to LIFO clearly reflect income conformity requirement cost or market December 25 December 31 deduct currently Economic Recovery Tax Effective date elects to deduct ending inventory excess inventory exempt small issue FIFO industrial development bonds Interest Exemption Internal Revenue Service inven inventory accounting inventory items inventory writedowns issue industrial development lower of cost March 11 market value market writedowns method of accounting method of inventory net realizable value obligations issued Proc provisions qualified small businesses Recovery Tax Act research and experimental research expenditures research expenses research or experimental Revenue Procedure 80-5 Revenue Ruling 80-60 small issue industrial taxable years beginning taxable years ending taxpayer elects taxpayers using LIFO Thor Power decision tory writedowns trade or business Treasury regulations U.S. Supreme Court value will result