Description of Tax Bills (S. 578, S. 768, S. 1276, and S. 1472): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981 |
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Issues The principal issue is whether taxpayers should be able to write down the value of excess inventories that continue to be sold at prices in ... A taxpayer which changed its method of accounting for a taxable year ending after .
Issues The principal issue is whether taxpayers should be able to write down the value of excess inventories that continue to be sold at prices in ... A taxpayer which changed its method of accounting for a taxable year ending after .
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80–5 , would be able to change the method of accounting for any such taxable year back to the method of accounting ... S. 1276 The amendments made by S. 1276 relating to inventory writedowns for qualified small businesses would apply to ...
80–5 , would be able to change the method of accounting for any such taxable year back to the method of accounting ... S. 1276 The amendments made by S. 1276 relating to inventory writedowns for qualified small businesses would apply to ...
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The computation of cost of goods sold is made by taking the beginning inventory , adding the purchases made during the year ... At present , LIFO is an accepted method of accounting for inventories for financial statement purposes .
The computation of cost of goods sold is made by taking the beginning inventory , adding the purchases made during the year ... At present , LIFO is an accepted method of accounting for inventories for financial statement purposes .
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Common terms and phrases
$10 million limitation allow taxpayers amortize amount apply to taxable average beginning after December bill capital expenditures Code section conformity conformity requirement continue cost or market December 31 determined disposed disposition Effective date elects to deduct ending inventory exceeding exception excess inventory expenses experimental expenditures future gross income held higher income tax industrial development bonds interest Internal Revenue Service inven inventory accounting less LIFO lower of cost market value market writedowns method of accounting method of inventory months offered paid period Present law Proc provisions qualified small businesses realizable recapture regulations relating replacement requirement research and experimental research expenditures research expenses research or experimental respect Ruling Senators small issue industrial sold statement taken into account tax purposes taxable income taxable years beginning taxable years ending taxpayer elects Thor Power decision tion trade or business write written
Bibliographic information
| Title | Description of Tax Bills (S. 578, S. 768, S. 1276, and S. 1472): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981 |
| Contributors | United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management, United States. Congress. Joint Committee on Taxation |
| Publisher | U.S. Government Printing Office, 1981 |
| Original from | Purdue University |
| Digitized | 27 Aug 2012 |
| Length | 14 pages |
| Export Citation | BiBTeX EndNote RefMan |