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
Page 3
... after December 25 , 1979 . S.1276 S. 1276 would allow a qualified small business to write off one - third of ... beginning after December 31 , 1980. Also , S. 1276 would delay the effective date of Rev. Proc . 80-5 and Rev. Rul ...
... after December 25 , 1979 . S.1276 S. 1276 would allow a qualified small business to write off one - third of ... beginning after December 31 , 1980. Also , S. 1276 would delay the effective date of Rev. Proc . 80-5 and Rev. Rul ...
Page 4
... beginning after the date of enactment of the bill . 2. S. 768 - Senator ... December 31 , 1980 . S.1472 Under the provisions of S. 1472 , research or ... after March 11 , 1981 , with respect to obligations issued after that date ...
... beginning after the date of enactment of the bill . 2. S. 768 - Senator ... December 31 , 1980 . S.1472 Under the provisions of S. 1472 , research or ... after March 11 , 1981 , with respect to obligations issued after that date ...
Page 8
... from taxable years endiing after December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of accounting for a taxable year ending after 9 December 24 , 1979 and before January 1 , 18.
... from taxable years endiing after December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of accounting for a taxable year ending after 9 December 24 , 1979 and before January 1 , 18.
Page 9
... after December 25 , 1979 ( the date on which Rev. Proc . 80-5 and Rev. Rul . 80-60 became effective to implement the ... beginning after December 31 , 1980. The provisions relating to Rev. Rul . 80-60 and Rev. Proc . 80-5 would ...
... after December 25 , 1979 ( the date on which Rev. Proc . 80-5 and Rev. Rul . 80-60 became effective to implement the ... beginning after December 31 , 1980. The provisions relating to Rev. Rul . 80-60 and Rev. Proc . 80-5 would ...
Page 11
... beginning after December 31 , 1981 , market writedowns will be included in income ratably over a three - year period beginning with the year of change to LIFO . Thus , the taxpayer no longer will have to amend the return of the year ...
... beginning after December 31 , 1981 , market writedowns will be included in income ratably over a three - year period beginning with the year of change to LIFO . Thus , the taxpayer no longer will have to amend the return of the year ...
Other editions - View all
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