Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and IndexDivision of the Federal Register, the National Archives, 1970 Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
From inside the book
Results 1-5 of 100
Page 9
... term life insurance purchased for employees . 1.79-1 General rules relating to group - term life insurance purchased for em- ployees . 1.79-2 Exceptions to the rule of inclusion . 1.79-3 Determination of amount equal to cost of group ...
... term life insurance purchased for employees . 1.79-1 General rules relating to group - term life insurance purchased for em- ployees . 1.79-2 Exceptions to the rule of inclusion . 1.79-3 Determination of amount equal to cost of group ...
Page 21
... term capital gains over net short - term capital losses . Where , for purposes of computations under the in- come averaging provisions , section 1201 ( b ) is treated as imposing the alterna- tive tax on capital gains computed under ...
... term capital gains over net short - term capital losses . Where , for purposes of computations under the in- come averaging provisions , section 1201 ( b ) is treated as imposing the alterna- tive tax on capital gains computed under ...
Page 43
... term capital gain ) —– $ 22,000 Less : 50 percent of long - term capi- tal gain ... 4,000 Amount taxable by use of tax table under section 1 -... 18 , 000 Tax on $ 18,000 ( from tax table un- der section 1 ) .. 25 percent of long - term ...
... term capital gain ) —– $ 22,000 Less : 50 percent of long - term capi- tal gain ... 4,000 Amount taxable by use of tax table under section 1 -... 18 , 000 Tax on $ 18,000 ( from tax table un- der section 1 ) .. 25 percent of long - term ...
Page 50
... term " retirement in- come " means- ( 1 ) In the case of an individual who has attained the age of 65 before the close of the taxable year , income from— ( A ) Pensions and annuities ( including , in the case of an individual who is ...
... term " retirement in- come " means- ( 1 ) In the case of an individual who has attained the age of 65 before the close of the taxable year , income from— ( A ) Pensions and annuities ( including , in the case of an individual who is ...
Page 60
... term " affiliated group " has the meaning assigned to such term by section 1504 ( a ) , except that all corporations shall be treated as includible corporations ( without any ex- clusion under section 1504 ( b ) ) . ( b ) Carryback and ...
... term " affiliated group " has the meaning assigned to such term by section 1504 ( a ) , except that all corporations shall be treated as includible corporations ( without any ex- clusion under section 1504 ( b ) ) . ( b ) Carryback and ...
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Other editions - View all
Common terms and phrases
adjusted basis adjusted gross income affiliated group allowed under section amended by T.D. amounts received annuity starting date apply asset basis or cost beneficiary benefits calendar carryback có có có contributions credit allowed death December 31 depreciation described in section dividends dividends received electing small business employee erty estate or trust excluded from gross expected return filing graph includible in gross income tax individual interest Internal Revenue Code investment with respect item of section January joint return June 30 lessee lessor ment nonresident alien number of exemptions paid paragraph partner partnership payments percent period person placed in service premiums property with respect recomputed credit earned regulations thereunder section 38 property section 72 shareholder spect standard deduction Statutory provisions subdivision subparagraph subsection surviving spouse taken into account tax imposed taxable income taxable year 1962 taxable year beginning taxpayer trade or business treated unused credit weekly rate wife
Popular passages
Page 341 - A reasonable allowance for salaries or other compensation for personal services actually rendered; (2) Traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business; and (3) Rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
Page 423 - In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in trust the allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance with the pertinent provisions of the instrument creating the trust, or, in the absence of such provisions, on the basis of...
Page 255 - If such transfer is to the insured, to a partner of the Insured, to a partnership in which the Insured is a partner, or to a corporation in which the Insured Is a shareholder or officer.
Page 103 - Except as provided in this subsection, the term "section 38 property" means— (A) Tangible personal property, or (B) Other tangible property (not including a building and its structural components) but only if such property...
Page 348 - ... (3) In any event the allowance for the compensation paid may not exceed what is reasonable under all the circumstances. It is, in general, just to assume that reasonable and true compensation is only such amount as would ordinarily be paid for like services by like enterprises under like circumstances. The circumstances to be taken into consideration are those existing at the date when the contract for services was made, not those existing at the date when the contract is questioned.
Page 376 - ... (c) Limitation on losses of individuals. In the case of an individual, the deduction under subsection (a) shall be limited to — (1) Losses incurred in a trade or business...
Page 333 - For purposes of this subsection, an individual is blind only If his central visual acuity does not exceed 20/200 in the better eye with correcting lenses, or If his visual acuity is greater than 20/200 but Is accompanied by a limitation In the fields of vision such that the widest diameter of the visual field subtends an angle no greater than 20 degrees.
Page 157 - In general, installment payments discharging a part of an obligation the principal sum of which is, in terms of money or property, specified in the decree, instrument, or agreement are not considered "periodic payments" and therefore are not to be included under section 71 (a) in the wife's income.
Page 300 - Gross income does not include income attributable to the recovery during the taxable year of a bad debt, prior tax. or delinquency amount, to the extent of the amount of the recovery exclusion with respect to such debt, tax, or amount. (b) Definitions. For purposes of subsection (a) — (1) Bad debt. The term "bad debt...
Page 445 - For purposes of this section, the term "charitable contribution" means a contribution or gift to or for the use of — (1) A State, a Territory, a possession of the United States, or any political subdivision of any of the foregoing, or the United States or the District of Columbia, but only if the contribution or gift is made for exclusively public purposes. (2) A corporation, trust, or community chest, fund, or foundation...