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 |
From inside the book
Page 3
This provision would apply to taxable years beginning after December 31 , 1980. Also , S. 1276 would delay the effective date of Rev. Proc . 80–5 and Rev. Rul . 80–60 to taxable years beginning after December 31 , 1980 . b .
This provision would apply to taxable years beginning after December 31 , 1980. Also , S. 1276 would delay the effective date of Rev. Proc . 80–5 and Rev. Rul . 80–60 to taxable years beginning after December 31 , 1980 . b .
Page 4
The provisions of sections 2 and 3 of the bill would be effective for taxable years beginning after the date of ... to obligations issued after the date of enactment , and also to capital expenditures made after December 31 , 1980 .
The provisions of sections 2 and 3 of the bill would be effective for taxable years beginning after the date of ... to obligations issued after the date of enactment , and also to capital expenditures made after December 31 , 1980 .
Page 8
80–5 should be delayed from 1979 to 1981 . Explanation of provisions S. 578 ... 80–60 from taxable years endiing after December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of ...
80–5 should be delayed from 1979 to 1981 . Explanation of provisions S. 578 ... 80–60 from taxable years endiing after December 24 , 1979 , to taxable years beginning after December 31 , 1980. A taxpayer which changed its method of ...
Page 9
S. 1276 The amendments made by S. 1276 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 .
S. 1276 The amendments made by S. 1276 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 .
Page 11
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 beginning with the year of change to LIFO . Thus , the taxpayer no longer ...
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 beginning with the year of change to LIFO . Thus , the taxpayer no longer ...
What people are saying - Write a review
We haven't found any reviews in the usual places.
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 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 |