Description of Tax Bills (S. 1600, S. 1579, S. 108, S. 1464, and S. 1549: Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on August 1, 1983U.S. Government Printing Office, 1983 - 21 pages |
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Page 1
... present law , explanation of provisions , and effective dates . I. SUMMARY 1. S. 1600 - Senator Armstrong Indexing the ( 1 ) INTRODUCTION.
... present law , explanation of provisions , and effective dates . I. SUMMARY 1. S. 1600 - Senator Armstrong Indexing the ( 1 ) INTRODUCTION.
Page 2
... present law , the adjusted basis for determining gain or loss from the disposition of capital assets is established in fixed dollar amounts . Thus , changes in the value of the dollar resulting from inflation are not taken into account ...
... present law , the adjusted basis for determining gain or loss from the disposition of capital assets is established in fixed dollar amounts . Thus , changes in the value of the dollar resulting from inflation are not taken into account ...
Page 3
... Present law Employers generally may deduct as an ordinary and necessary business expense a reasonable allowance for compensation paid em- ployees ( sec . 162 ) . Thus , a manufacturer , for example , generally may deduct reasonable ...
... Present law Employers generally may deduct as an ordinary and necessary business expense a reasonable allowance for compensation paid em- ployees ( sec . 162 ) . Thus , a manufacturer , for example , generally may deduct reasonable ...
Page 4
... present law , most organizations which generally are exempt from Federal income taxation under Code section 501 ( a ) , in- cluding any trust that is part of a tax - qualified pension , profit - shar- ing , or stock bonus plan described ...
... present law , most organizations which generally are exempt from Federal income taxation under Code section 501 ( a ) , in- cluding any trust that is part of a tax - qualified pension , profit - shar- ing , or stock bonus plan described ...
Page 5
... Present Law A taxpayer generally recognizes gain from an increase in value of a capital asset , or takes into account an allowable loss from a decline in value of the asset , only on the sale , exchange , or other disposition of the ...
... Present Law A taxpayer generally recognizes gain from an increase in value of a capital asset , or takes into account an allowable loss from a decline in value of the asset , only on the sale , exchange , or other disposition of the ...
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Common terms and phrases
accredited acquisition adjusted basis allocation amount Armstrong assets held augmented charitable deduction beginning after 1982 bill would apply bill would provide business expense Business Holdings Provision capital asset capital gain cents a mile charitable organization Code sec Colorado Springs consumer price index corporations Date The provisions Debt-financed property December 31 deduct reasonable disposition divestiture requirements donated property education course taught Effective Date excess business holdings exempt trust Explanation of Provision fair market value gain or loss gas properties gross national product indexed assets individual retirement account inflation adjustment inflation occurring institution of higher instructor temporarily employed interest investment ISIP justment limited partner limited partnership oil and gas ordinary income passenger automobile physical or biological Pomar Foundation postsecondary vocational education present law private foundation real property special rule tax-qualified pension taxpayer may deduct tion trade or business unrelated business income unrelated trade vocational education courses vocational education instruction vocational education programs