General Explanation of the Tax Reform Act of 1986: (H.R. 3838, 99th Congress; Public Law 99-514)U.S. Government Printing Office, 1987 - 1379 pages |
From inside the book
Results 1-5 of 18
Page 231
... REMIC , interest on debt obliga- tions , and royalties from the licensing of property generally are in- cluded in portfolio income . Similarly , gains ( or losses ) from the sale of interests which normally produce such income are ...
... REMIC , interest on debt obliga- tions , and royalties from the licensing of property generally are in- cluded in portfolio income . Similarly , gains ( or losses ) from the sale of interests which normally produce such income are ...
Page 412
... REMIC , ( 3 ) the treatment of taxpayers holding interests in the REMIC , and ( 4 ) the treatment of disposition of interests in the REMIC . In general , if the specified requirements are met , the REMIC is not treated as a separate ...
... REMIC , ( 3 ) the treatment of taxpayers holding interests in the REMIC , and ( 4 ) the treatment of disposition of interests in the REMIC . In general , if the specified requirements are met , the REMIC is not treated as a separate ...
Page 413
... REMIC Under the Act , any entity , including a corporation , partnership , or trust , that meets specified requirements would be permitted to elect to be treated as a REMIC . In addition , a segregated pool of assets also may qualify as a ...
... REMIC Under the Act , any entity , including a corporation , partnership , or trust , that meets specified requirements would be permitted to elect to be treated as a REMIC . In addition , a segregated pool of assets also may qualify as a ...
Page 414
... REMIC . The Congress intended that these are assets that are received periodically by the REMIC , invested temporarily in passive - type assets , and paid out to the in- vestors at the next succeeding regular payment date . The Congress ...
... REMIC . The Congress intended that these are assets that are received periodically by the REMIC , invested temporarily in passive - type assets , and paid out to the in- vestors at the next succeeding regular payment date . The Congress ...
Page 415
... REMIC under the Act , all of the interests in the REMIC must consist of one or more classes of " regular inter- ests " and a single class of " residual interests . Regular interests . - A regular interest in a REMIC is an interest in a ...
... REMIC under the Act , all of the interests in the REMIC must consist of one or more classes of " regular inter- ests " and a single class of " residual interests . Regular interests . - A regular interest in a REMIC is an interest in a ...
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Common terms and phrases
Act provides addition adjusted allocated allowed alternative minimum tax amount annuity assets basis benefits cafeteria plan capital gain computing Congress believed Congress intended contract contributions costs coverage December 31 deduction depreciation determined disallowed distribution dividends Effective Date elective deferrals eligible ESOP example excess excludable expenses Explanation of Provision Finance foreign tax credit gross income H.Rep highly compensated employees income tax incurred individual interest Internal Revenue Service itemized deductions legislative background LIFO limitation line of business loan ment method million in 1989 minimum tax ordinary income paid partnership payments percent percentage period placed in service present law prior and present prior law qualified cash qualified plan real property reflects this intent REIT REMIC rental respect shareholders special rule standard deduction statute reflects tax liability tax purposes tax-exempt taxable years beginning taxpayer technical correction tion trade or business Treasury treated