Study of the Overall State of the Federal Tax System and Recommendations for Simplification, Pursuant to Section 8022(3)(B) of the Internal Revenue Code of 1986, Volume 3U.S. Government Printing Office, 2001 - 251 pages |
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Common terms and phrases
accompanying text agreement American Bar Endowment amount apply assignment-of-income doctrine basis cash payments child support child tax credits Comm'r Commissioner community property community-property compensation Congress considered context corporation current law death divorce decree earned income earned income credit EITC entity example excess benefit transaction excludable/nondeductible exempt activities exempt organizations federal tax gross income incident to divorce includable includable/deductible inclusion/deduction system income tax income-shifting individuals Internal Revenue Service inurement issue litigation marital unit married couple nondeductible ordinary income paid payee spouse payment stream payor payroll taxes post-separation private benefit private letter ruling proposed public benefit qualify as alimony received recipient redemption regulations result revenue separate maintenance payments Service Simplification subchapter support payments supra note Task Force tax consequences Tax Court tax law tax purposes tax system taxable taxpayers third party trade or business Treas Treasury UBIT provisions
Popular passages
Page 32 - In the case of a wife who is divorced or legally separated from her husband under a decree of divorce or of separate maintenance, periodic payments (whether or not made at regular intervals) received subsequent to such decree...
Page 21 - gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service ... of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income...
Page 27 - ... fix, in terms of an amount of money or a portion of such income, as a sum which is payable for the support of minor children of such husband.
Page 185 - ... organized and operated exclusively for the mutual benefit of their members, nor to any corporation or association organized and operated exclusively for religious, charitable, scientific, or educational purposes, no part of the net income of which inures to the benefit of any private stockholder or individual...
Page 22 - ... in the interpretation of statutes levying taxes it is the established rule not to extend their provisions, by implication, beyond the clear import of the language used, or to enlarge their operations so as to embrace matters not specifically pointed out. In case of doubt they are construed most strongly against the Government, and in favor of the citizen.
Page 65 - An individual legally separated from his spouse under a decree of divorce or of separate maintenance shall not be considered as married.
Page 32 - For purposes of subsection (a), installment payments discharging a part of an obligation the principal sum of which Is, either in terms of money or property, specified in the decree, instrument, or agreement shall not be treated as periodic payments.
Page 36 - Section 71 (a) applies only to payments made because of the family or marital relationship in recognition of the general obligation to support which is made specific by the decree, instrument, or agreement.
Page 141 - Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 21 - That, subject only to such exemptions and deductions as are hereinafter allowed, the net income of a taxable person shall include gains, profits, and income...