Tax Shelters, Accounting Abuses, and Corporate and Securities Reforms: Hearings Before the Committee on Ways and Means, House of Representatives, Ninety-eighth Congress, Second Session, February 22 and 28, 1984U.S. Government Printing Office, 1984 - 578 pages |
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abuses accounting accrual accrued addition Administration's proposal allocations amount assets BATF cafeteria plans capital gain Chairman CHAPOTON companies Congress contributions corporation cost deduction deferred payment depreciation discount distilled spirits distributions economic effect employee benefits enacted exchange exempt existing expenses February 17 Federal Finance funds GIBBONS impact incentives income housing income tax increase Internal Revenue Code Internal Revenue Service investment investors issue legislation liability like-kind limited partnerships loan loss ment million neutral grain spirits neutral spirits ordinary income paid partner partnership interests pension percent period problems projects publicly traded Puerto Rico purchase qualified real estate redistillation regulations rental housing result retirement Rican royalty trusts rules securities Serralles shareholders statement substantial tax benefits tax law tax shelters taxable income taxation taxpayers tion transactions transfer Treasury treatment trust United VEBA Virgin Islands worker's compensation
Popular passages
Page 23 - No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment.
Page 424 - The products of the territory of any contracting party imported into the territory of any other contracting party shall be accorded treatment no less favorable than that accorded to like products of national origin in respect of all laws, regulations and requirements affecting their internal sale, offering for sale, purchase, transportation, distribution or use.
Page 550 - ... at least 80 percent of the total combined voting power of all classes of stock entitled to vote, and at least 80 percent of the total number of shares of all other classes of stock (except nonvoting stock which is limited and preferred as to dividends...
Page 510 - Under an accrual method of accounting, an expense is deductible for the taxable year in which att the events have occurred which determine the fact of the liability and the amount thereof can be determined with reasonable accuracy.
Page 510 - Where a deduction is properly accrued on the basis of a computation made with reasonable accuracy and the exact amount is subsequently determined in a later taxable year, the difference, if any, between such amounts shall be taken into account for the later taxable year in which such determination is made.
Page 550 - Section 351 (a) provides, in general, for the nonrecognition of gain or loss upon the transfer by one or more persons of property to a corporation solely in exchange for stock or securities in such corporation...
Page 142 - ... interest on indebtedness incurred or continued to purchase or carry obligations the interest on which is wholly exempt from taxation under chapter 1 of the Code.
Page 510 - While no accrual shall be made in any case in which all of the events have not occurred which fix the liability, the fact that the exact amount of the liability which has been incurred cannot be determined will not prevent the accrual within the taxable year of such part thereof as can be computed with reasonable accuracy.
Page 160 - The basis of the obligation shall be the excess of the face value of the obligation over an amount equal to the income which would be returnable were the obligation satisfied in full.
Page 423 - Products of either party shall be accorded, within the territories of the other party, national treatment and most-favored-nation treatment in all matters affecting internal taxation, sale, distribution, storage and use.