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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Page vii
... RECEIVED DEDUCTION C. DIVIDEND EXCLUSION FOR INDIVIDUALS .............................. .. D. STOCK REDEMPTION PAYMENTS 274 276 277 E. EXTRAORDINARY DIVIDENDS RECEIVED BY CORPORATE SHAREHOLDERS ... 280 F. SPECIAL LIMITATIONS ON NET ...
... RECEIVED DEDUCTION C. DIVIDEND EXCLUSION FOR INDIVIDUALS .............................. .. D. STOCK REDEMPTION PAYMENTS 274 276 277 E. EXTRAORDINARY DIVIDENDS RECEIVED BY CORPORATE SHAREHOLDERS ... 280 F. SPECIAL LIMITATIONS ON NET ...
Page 29
... received by an individual generally have been treated as fully includible in gross income under the tax law , un- employment compensation benefits were includible under prior law only if the taxpayer's AGI and benefits exceeded ...
... received by an individual generally have been treated as fully includible in gross income under the tax law , un- employment compensation benefits were includible under prior law only if the taxpayer's AGI and benefits exceeded ...
Page 30
... received after December 31 , 1986 . Revenue Effect The provision is estimated to increase fiscal year budget receipts by $ 230 million in 1987 , $ 764 million in 1988 , $ 749 million in 1989 , $ 723 million in 1990 , and $ 701 million ...
... received after December 31 , 1986 . Revenue Effect The provision is estimated to increase fiscal year budget receipts by $ 230 million in 1987 , $ 764 million in 1988 , $ 749 million in 1989 , $ 723 million in 1990 , and $ 701 million ...
Page 38
... received by a degree candidate as a scholar- ship at an educational institution ( described in sec . 170 ( b ) ( 1 ) ( A ) ( ii ) ) , or as a fellowship grant , and ( 2 ) incidental amounts received by such individual and spent for ...
... received by a degree candidate as a scholar- ship at an educational institution ( described in sec . 170 ( b ) ( 1 ) ( A ) ( ii ) ) , or as a fellowship grant , and ( 2 ) incidental amounts received by such individual and spent for ...
Page 39
... received scholarship or fellowship grant amounts , and no further exclusion was allowed after the nondegree candidate had claimed exclusions for a total of 36 months ( i.e. , a maximum lifetime exclusion of $ 10,800 ) . However , this ...
... received scholarship or fellowship grant amounts , and no further exclusion was allowed after the nondegree candidate had claimed exclusions for a total of 36 months ( i.e. , a maximum lifetime exclusion of $ 10,800 ) . However , this ...
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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 limit 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
Popular passages
Page xi - Extensive hearings followed before the House Committee on Ways and Means, and the Senate Committee on Finance.
Page 540 - The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
Page 126 - The term includes generally all such costs incident to the development of an experimental or pilot model, a plant process, a product, a formula, an invention, or similar property, and the improvement of already existing property of the type mentioned.
Page 242 - Generally, services are considered rendered to the occupant if they are primarily for his convenience and are other than those usually or customarily rendered in connection with the rental of rooms or other space for occupancy only.
Page 486 - The basis of such section 38 property in the hands of the transferee is determined In whole or in part by reference to the basis of such section 38 property in the hands of the transferor.
Page 33 - ... an educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on...
Page 43 - For the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body (including...
Page 252 - The factors so set forth in the regulations may include among other factors: (1) Whether there is a written unconditional promise to pay on demand or on a specified date a sum certain in money in return for an adequate consideration in money or money's worth, and to pay a fixed rate of interest, (2) Whether there is subordination to or preference over any indebtedness of the corporation, (3) The...
Page 397 - partnership" includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation; and the term "partner" includes a member in such a syndicate, group, pool, joint venture, or organization.
Page 287 - ... the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Federal Home Loan Bank Board, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration. (8) The term "National Institute of Building Sciences" means the institute established by section 809 of the Housing and Community Development Act of 1974.