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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Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981. I. SUMMARY 1. ... This provision would apply to taxable years ending on or after December 25 , 1979 .
Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981. I. SUMMARY 1. ... This provision would apply to taxable years ending on or after December 25 , 1979 .
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Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method of inventory accounting used for purposes of financial statements . Section 3 of the bill would extend the three - year recapture ...
Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method of inventory accounting used for purposes of financial statements . Section 3 of the bill would extend the three - year recapture ...
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Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25 ... This procedure can have the result of requiring a taxpayer to continue to use an erroneous accounting method ...
Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25 ... This procedure can have the result of requiring a taxpayer to continue to use an erroneous accounting method ...
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A secondary issue is whether the application of Rev. Rul . 80–60 and Rev. Proc . 80–5 should be delayed from 1979 to 1981 . Explanation of provisions S. 578 , Section 1 S. 578 would allow taxpayers to value excess inventory at net ...
A secondary issue is whether the application of Rev. Rul . 80–60 and Rev. Proc . 80–5 should be delayed from 1979 to 1981 . Explanation of provisions S. 578 , Section 1 S. 578 would allow taxpayers to value excess inventory at net ...
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This change could be made without the consent of the Revenue Service by filing an amended tax return . Effective date S.578 , Section 1 This provision of S. 578 would apply to taxable years ending on or after December 25 , 1979 ( the ...
This change could be made without the consent of the Revenue Service by filing an amended tax return . Effective date S.578 , Section 1 This provision of S. 578 would apply to taxable years ending on or after December 25 , 1979 ( 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 Expenses From Capital 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 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 |