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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Commissioner , decided January 16 , 1979 , the U.S. Supreme Court affirmed decisions of the Seventh Circuit and Tax Court upholding the disallowance of “ excess inventory ” writedowns which failed to satisfy the requirements under the ...
Commissioner , decided January 16 , 1979 , the U.S. Supreme Court affirmed decisions of the Seventh Circuit and Tax Court upholding the disallowance of “ excess inventory ” writedowns which failed to satisfy the requirements under the ...
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This not only would give taxpayers the advantage of continuing to write off excess inventories until eventually ... out the prospect that the erroneous method of inventory accounting might never be discovered by the Revenue Service .
This not only would give taxpayers the advantage of continuing to write off excess inventories until eventually ... out the prospect that the erroneous method of inventory accounting might never be discovered by the Revenue Service .
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Issues The principal issue is whether taxpayers should be able to write down the value of excess inventories that continue to ... Explanation of provisions S. 578 , Section 1 S. 578 would allow taxpayers to value excess inventory at net ...
Issues The principal issue is whether taxpayers should be able to write down the value of excess inventories that continue to ... Explanation of provisions S. 578 , Section 1 S. 578 would allow taxpayers to value excess inventory at net ...
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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 |