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 |
From inside the book
Results 1-5 of 6
Page 3
... purposes , inventories are used as a method of deter- mining the cost of goods sold and hence a taxpayer's gross ... account ratably over the three - year period beginning with the taxable year of the LIFO election . ( 3 ) Section 2 of S ...
... purposes , inventories are used as a method of deter- mining the cost of goods sold and hence a taxpayer's gross ... account ratably over the three - year period beginning with the taxable year of the LIFO election . ( 3 ) Section 2 of S ...
Page 4
... purposes regardless of the method of inventory accounting used for purposes of financial statements . Section 3 of ... account in determining whether the $ 10 million limitation is exceeded , whether or not the taxpayer elects to deduct ...
... purposes regardless of the method of inventory accounting used for purposes of financial statements . Section 3 of ... account in determining whether the $ 10 million limitation is exceeded , whether or not the taxpayer elects to deduct ...
Page 5
... purposes , Code section 471 requires a tax- payer to account for inventories in a manner that conforms as nearly as possible to the best accounting practice in the taxpayer's trade or business and most clearly reflects the taxpayer's ...
... purposes , Code section 471 requires a tax- payer to account for inventories in a manner that conforms as nearly as possible to the best accounting practice in the taxpayer's trade or business and most clearly reflects the taxpayer's ...
Page 12
... purpose if they are properly chargeable to the capital account of any person or State or local governmental unit ... account to be tretaed as current expenses ( Reg . § 1.103–10 ( b ) ( 2 ) ( ii ) ( e ) ) . 1 The relevant six - year ...
... purpose if they are properly chargeable to the capital account of any person or State or local governmental unit ... account to be tretaed as current expenses ( Reg . § 1.103–10 ( b ) ( 2 ) ( ii ) ( e ) ) . 1 The relevant six - year ...
Page 13
... account for purposes of determining whether the exempt small issue limitation of $ 10 million is exceeded , whether or not the taxpayer elects to deduct its research expenses currently or to amortize them over a period of 60 months or ...
... account for purposes of determining whether the exempt small issue limitation of $ 10 million is exceeded , whether or not the taxpayer elects to deduct its research expenses currently or to amortize them over a period of 60 months or ...
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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
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 |