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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Under present law , a taxpayer may " write down " the value of its inventories ( thereby decreasing gross income in the ... Sections 2 and 3 of S. 578 — LIFO Inventories Under present law , taxpayers that elect to use the LIFO method of ...
Under present law , a taxpayer may " write down " the value of its inventories ( thereby decreasing gross income in the ... Sections 2 and 3 of S. 578 — LIFO Inventories Under present law , taxpayers that elect to use the LIFO method of ...
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Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method of ... S. 1472 Under the provisions of S. 1472 , research or experimental expenditures which the taxpayer elects to deduct ...
Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method of ... S. 1472 Under the provisions of S. 1472 , research or experimental expenditures which the taxpayer elects to deduct ...
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... non - LIFO financial statements of the subsidiary in its consolidated financial statement . Another requirement of the LIFO method is that the inventory must be accounted for only at cost , while under FIFO , the taxpayer can elect ...
... non - LIFO financial statements of the subsidiary in its consolidated financial statement . Another requirement of the LIFO method is that the inventory must be accounted for only at cost , while under FIFO , the taxpayer can elect ...
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However , present law permits a taxpayer to elect to deduct currently the amount of research or experimental expenditures incurred in connection with the taxpayer's trade or business , even if such expenses are treated as capital ...
However , present law permits a taxpayer to elect to deduct currently the amount of research or experimental expenditures incurred in connection with the taxpayer's trade or business , even if such expenses are treated as capital ...
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S. 1472 Under S. 1472 , research or experimental expenditures which the taxpayer elects to deduct currently under section 174 ( a ) would not be taken into account for purposes of the capital expenditure limitation on small issue ...
S. 1472 Under S. 1472 , research or experimental expenditures which the taxpayer elects to deduct currently under section 174 ( a ) would not be taken into account for purposes of the capital expenditure limitation on small issue ...
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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 |