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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Page 3
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 accounting for inventories must ...
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 accounting for inventories must ...
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Proc . 80–5 ? granted blanket permission to all taxpayers to change their method of inventory accounting to conform with the Thor Power decision . Rev. Rul . 80–60,3 which presented a fact situation regarding excess inventories , stated ...
Proc . 80–5 ? granted blanket permission to all taxpayers to change their method of inventory accounting to conform with the Thor Power decision . Rev. Rul . 80–60,3 which presented a fact situation regarding excess inventories , stated ...
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Proc . 80–5 should be delayed from 1979 to 1981 . Explanation of provisions S. 578 , Section 1 S. 578 would allow taxpayers to value excess inventory at net realizable value . The bill would define excess inventory as that portion of ...
Proc . 80–5 should be delayed from 1979 to 1981 . Explanation of provisions S. 578 , Section 1 S. 578 would allow taxpayers to value excess inventory at net realizable value . The bill would define excess inventory as that portion of ...
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Proc . 80–5 , would be able to change the method of accounting for any such taxable year back to the method of accounting that had been previously used . This change could be made without the consent of the Revenue Service by filing an ...
Proc . 80–5 , would be able to change the method of accounting for any such taxable year back to the method of accounting that had been previously used . This change could be made without the consent of the Revenue Service by filing an ...
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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 |