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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Results 1-4 of 4
Page 1
... ( relating to inventory writedowns and LIFO inventories ) ; S. 768 and S. 1472 ( re- lating to exclusion of research expenses from capital expenditure limitation on interest exemption for small issue industrial development bonds ) ; and S ...
... ( relating to inventory writedowns and LIFO inventories ) ; S. 768 and S. 1472 ( re- lating to exclusion of research expenses from capital expenditure limitation on interest exemption for small issue industrial development bonds ) ; and S ...
Page 9
... relating to inventory writedowns for qualified small businesses would apply to taxable years beginning after December 31 , 1980. The provisions relating to Rev. Rul . 80-60 and Rev. Proc . 80-5 would apply to taxable years ending after ...
... relating to inventory writedowns for qualified small businesses would apply to taxable years beginning after December 31 , 1980. The provisions relating to Rev. Rul . 80-60 and Rev. Proc . 80-5 would apply to taxable years ending after ...
Page 11
... relating to the recapture of market write- downs ( sec 472 ( d ) ) . For taxpayers adopting LIFO for taxable years beginning after December 31 , 1981 , market writedowns will be included in income ratably over a three - year period ...
... relating to the recapture of market write- downs ( sec 472 ( d ) ) . For taxpayers adopting LIFO for taxable years beginning after December 31 , 1981 , market writedowns will be included in income ratably over a three - year period ...
Page 13
... relating to development of a product are not eligible for these elections , or if the taxpayer chooses not to elect either current deductions or amortization for qualifying research costs , such expenditures must be capitalized . If the ...
... relating to development of a product are not eligible for these elections , or if the taxpayer chooses not to elect either current deductions or amortization for qualifying research costs , such expenditures must be capitalized . If the ...
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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