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, 1981U.S. Government Printing Office, 1981 - 14 pages |
From inside the book
Results 6-9 of 9
Page 10
... purposes of financial statements . Since clear reflection of income has always been the primary standard for approved methods of accounting , the use of LIFO for tax purposes was conditioned on the requirement ( the " conformity ...
... purposes of financial statements . Since clear reflection of income has always been the primary standard for approved methods of accounting , the use of LIFO for tax purposes was conditioned on the requirement ( the " conformity ...
Page 11
... Tax Court that the conformity requirement applicable to a subsidiary using ... Tax Act of 1981 ( P.L. 97-34 ) , the Con- gress amended the rules relating to the ... purposes regardless of the method used for financial statement purposes ...
... Tax Court that the conformity requirement applicable to a subsidiary using ... Tax Act of 1981 ( P.L. 97-34 ) , the Con- gress amended the rules relating to the ... purposes regardless of the method used for financial statement purposes ...
Page 13
... purposes of determining whether the exempt small issue limitation of $ 10 million is exceeded , whether or not the taxpayer elects to deduct its research expenses currently or to amortize them over a period of 60 months or more ( Rev ...
... purposes of determining whether the exempt small issue limitation of $ 10 million is exceeded , whether or not the taxpayer elects to deduct its research expenses currently or to amortize them over a period of 60 months or more ( Rev ...
Page 14
... purposes of applying the $ 10 million limitation in the case of obligations issued prior to the enactment date . S. 1472 Under S. 1472 , research or experimental expenditures which the taxpayer elects to deduct currently under section ...
... purposes of applying the $ 10 million limitation in the case of obligations issued prior to the enactment date . S. 1472 Under S. 1472 , research or experimental expenditures which the taxpayer elects to deduct currently under section ...
Other editions - View all
Common terms and phrases
$10 million limitation 578 would allow 80-5 and Revenue account for purposes accounting for inventories allow taxpayers apply to taxable beginning after December capital ex change to LIFO clearly reflect income conformity requirement cost or market December 25 December 31 deduct currently Economic Recovery Tax Effective date elects to deduct ending inventory excess inventory exempt small issue FIFO industrial development bonds Interest Exemption Internal Revenue Service inven inventory accounting inventory items inventory writedowns issue industrial development lower of cost March 11 market value market writedowns method of accounting method of inventory net realizable value obligations issued Proc provisions qualified small businesses Recovery Tax Act research and experimental research expenditures research expenses research or experimental Revenue Procedure 80-5 Revenue Ruling 80-60 small issue industrial taxable years beginning taxable years ending taxpayer elects taxpayers using LIFO Thor Power decision tory writedowns trade or business Treasury regulations U.S. Supreme Court value will result