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 |
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... income tax 1243 1243 1246 1249 1251 B. UNEARNED INCOME OF CERTAIN MINOR CHILDREN C. GIFT AND ESTATE TAXES .... 1253 1256 1. Filing estate tax current use valuation elec- tions .......... 1256 2. Gift and estate tax deductions for ...
... income tax 1243 1243 1246 1249 1251 B. UNEARNED INCOME OF CERTAIN MINOR CHILDREN C. GIFT AND ESTATE TAXES .... 1253 1256 1. Filing estate tax current use valuation elec- tions .......... 1256 2. Gift and estate tax deductions for ...
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... tax shelters , had lost confidence in the tax system and may have responded by evading their tax liability . The Act provides a new restriction on the use of passive losses to offset unrelated income . Further , a strengthened minimum tax ...
... tax shelters , had lost confidence in the tax system and may have responded by evading their tax liability . The Act provides a new restriction on the use of passive losses to offset unrelated income . Further , a strengthened minimum tax ...
Page 8
... tax - favored retirement arrangements , and the Act eliminates the deduction for contributions to an IRA for such individuals with income above specified levels . Congress believed that the lower tax rates provided by the Act will them ...
... tax - favored retirement arrangements , and the Act eliminates the deduction for contributions to an IRA for such individuals with income above specified levels . Congress believed that the lower tax rates provided by the Act will them ...
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... tax treatment of foreign income . Congress desired to limit the incentives under prior law to move income off- shore to avoid tax ; accordingly , the Act restricts the ability of firms to use tax havens . The Act also limits the ability ...
... tax treatment of foreign income . Congress desired to limit the incentives under prior law to move income off- shore to avoid tax ; accordingly , the Act restricts the ability of firms to use tax havens . The Act also limits the ability ...
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... income tax allows a considerable reduction in marginal tax rates and in the overall income tax burden on individuals . The provisions in the Act reducing tax rates for individuals , as well as increasing the standard deduction , the ...
... income tax allows a considerable reduction in marginal tax rates and in the overall income tax burden on individuals . The provisions in the Act reducing tax rates for individuals , as well as increasing the standard deduction , the ...
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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 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 1987 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