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
... effective date of Rev. Proc . 80-5 and Rev. Rul . 80-60 to taxable years beginning after December 31 , 1980 . b . Sections 2 and 3 of S. 578 - LIFO Inventories Under present law , taxpayers that elect to use the LIFO method of ...
... effective date of Rev. Proc . 80-5 and Rev. Rul . 80-60 to taxable years beginning after December 31 , 1980 . b . Sections 2 and 3 of S. 578 - LIFO Inventories Under present law , taxpayers that elect to use the LIFO method of ...
Page 4
... effective for taxable years beginning after the date of enactment of the bill . 2. S. 768 - Senator Moynihan , and S. 1472 - Senator Denton Exclusion of Research Expenses From Capital Expenditure Limi- tation on Interest Exemption for ...
... effective for taxable years beginning after the date of enactment of the bill . 2. S. 768 - Senator Moynihan , and S. 1472 - Senator Denton Exclusion of Research Expenses From Capital Expenditure Limi- tation on Interest Exemption for ...
Page 8
... effective date of Rev. Proc . 80-5 and Rev. Rul . 80-60 from taxable years endiing after December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of accounting for a taxable year ...
... effective date of Rev. Proc . 80-5 and Rev. Rul . 80-60 from taxable years endiing after December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of accounting for a taxable year ...
Page 9
... Effective date S. 578 , Section 1 This provision of S. 578 would apply to taxable years ending on or after December 25 , 1979 ( the date on which Rev. Proc . 80-5 and Rev. Rul . 80-60 became effective to implement the Thor Power ...
... Effective date S. 578 , Section 1 This provision of S. 578 would apply to taxable years ending on or after December 25 , 1979 ( the date on which Rev. Proc . 80-5 and Rev. Rul . 80-60 became effective to implement the Thor Power ...
Page 11
... Effective date The provisions of sections 2 and 3 of S. 578 would be effective for taxable years beginning after the date of enactment of the bill . 2. S. 768 - Senator Moynihan , and S. 1472.
... Effective date The provisions of sections 2 and 3 of S. 578 would be effective for taxable years beginning after the date of enactment of the bill . 2. S. 768 - Senator Moynihan , and S. 1472.
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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