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
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Page 3
... taken for inventories that remain unsold . Under the Economic Recovery Tax Act of 1981 , this income is to be taken into account ratably over the three - year period beginning with the taxable year of the LIFO election . ( 3 ) Section 2 ...
... taken for inventories that remain unsold . Under the Economic Recovery Tax Act of 1981 , this income is to be taken into account ratably over the three - year period beginning with the taxable year of the LIFO election . ( 3 ) Section 2 ...
Page 4
... taken into account in determining whether the $ 10 million limitation is exceeded , whether or not the taxpayer elects to deduct currently or amortize research expenses under Code section 174 ( Rev. Rul . 77-27 , 1977–1 C.B. 23 ) . S ...
... taken into account in determining whether the $ 10 million limitation is exceeded , whether or not the taxpayer elects to deduct currently or amortize research expenses under Code section 174 ( Rev. Rul . 77-27 , 1977–1 C.B. 23 ) . S ...
Page 13
... taken into 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 ...
... taken into 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 ...
Page 14
... taken into account for purposes of the capital expenditure limita- tion on small issue industrial development bonds . S. 1472 would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to ...
... taken into account for purposes of the capital expenditure limita- tion on small issue industrial development bonds . S. 1472 would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to ...
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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