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, 1981 |
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Subsequently , the Internal Revenue Service issued Revenue Procedure 80–5 and Revenue Ruling 80–60 to implement the Thor Power decision . S. 578 , Section 1 Section 1 of S. 578 would allow a taxpayer to write down portions of ...
Subsequently , the Internal Revenue Service issued Revenue Procedure 80–5 and Revenue Ruling 80–60 to implement the Thor Power decision . S. 578 , Section 1 Section 1 of S. 578 would allow a taxpayer to write down portions of ...
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The Court stated that the Congress has given the Internal Revenue Service broad discretion , under Code sections 446 and 471 , to determine whether a particular method of inventory accounting clearly reflects the taxpayer's income .
The Court stated that the Congress has given the Internal Revenue Service broad discretion , under Code sections 446 and 471 , to determine whether a particular method of inventory accounting clearly reflects the taxpayer's income .
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7 Upholding the Revenue Service's determination that the writedown did not clearly reflect income , as required by the ... Revenue Procedure 80–5 and Revenue Ruling 80-60 On February 8 , 1980 , the Internal Revenue Service issued a news ...
7 Upholding the Revenue Service's determination that the writedown did not clearly reflect income , as required by the ... Revenue Procedure 80–5 and Revenue Ruling 80-60 On February 8 , 1980 , the Internal Revenue Service issued a news ...
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Common terms and phrases
$10 million limitation allow taxpayers amortize amount apply to taxable average beginning after December bill capital expenditures Code section conformity conformity requirement continue cost or market December 31 determined disposed disposition Effective date elects to deduct ending inventory exceeding exception excess inventory expenses experimental expenditures future gross income held higher income tax industrial development bonds interest Internal Revenue Service inven inventory accounting less LIFO lower of cost market value market writedowns method of accounting method of inventory months offered paid period Present law Proc provisions qualified small businesses realizable recapture regulations relating replacement requirement research and experimental research expenditures research expenses research or experimental respect Ruling Senators small issue industrial sold statement taken into account tax purposes taxable income taxable years beginning taxable years ending taxpayer elects Thor Power decision tion trade or business write written
Bibliographic information
| Title | 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, 1981 |
| Contributors | United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management, United States. Congress. Joint Committee on Taxation |
| Publisher | U.S. Government Printing Office, 1981 |
| Original from | Purdue University |
| Digitized | 27 Aug 2012 |
| Length | 14 pages |
| Export Citation | BiBTeX EndNote RefMan |