The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1974 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
accrual method adjustments allocated amended by T.D. amount annuity contract annuity plan attributable basis behalf beneficiary benefits billing-month bond calendar compensation computed December 31 described in section determined disposition distribution election employee's example exceed excess contribution fair market value filed graph gross income includible in gross installment Internal Revenue Code January June justments liability LIFO ment method of accounting months obligation option granted option is exercised option price owner-employee paid paragraph payments pension percent ployee pool poration Present value prior profit-sharing purposes of section pursuant qualified stock option requirements of section respect restricted stock option retirement revolving credit sale or exchange section 404 self-employed individual series E bond share of stock short period subdivision subpara subparagraph taken into account taxable income taxable years beginning taxpayer tion total unstated interest trade or business transfer treated tributions trust
Popular passages
Page 309 - Secretary or his delegate may distribute, apportion, or allocate gross income, deductions, credits, or allowances between or among such organizations, trades, or businesses, if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such organizations, trades, or businesses.
Page 210 - BASIS. (a) DEALERS IN PERSONAL PROPERTY. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment payments actually received in that year which the gross profit realized or to be realized when payment is completed, bears to the total contract price.
Page 263 - That whenever in the opinion of the Commissioner the use of inventories is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income.
Page 159 - Neither shall a plan be considered discriminatory within the meaning of such provisions merely because the contributions or benefits of or on behalf of the employees under the plan bear a uniform relationship to the total compensation, or the basic or regular rate of compensation, of such employees, or merely because the contributions or benefits based on that part of an employee's remuneration which is excluded from "wages...
Page 7 - In any calendar year, or (B) Such employees as qualify under » classification set up by the employer and found by the Secretary or his delegate not to be discriminatory In favor of employees who are officers, shareholders, persons whose principal duties consist in supervising the work of other employees, or highly compensated employees...
Page 81 - In excess of the amount allowable with respect to such year under the preceding provisions of this subparagraph shall be deductible in the succeeding taxable years In order of time, but the amount so deductible under this sentence in any one such succeeding taxable year together with the amount allowable under the first sentence of this...
Page 35 - Commissioner not to be discriminatory in favor of employees who are officers, shareholders, persons whose principal duties consist in supervising the work of other employees, or highly compensated employees; and (4) if the contributions or benefits provided under the plan do not discriminate in favor of employees who are officers, shareholders, persons whose principal duties consist in supervising the work of other employees, or highly compensated employees.
Page 66 - ... taxable year of the distributee on account of the employee's death or other separation from the service, or on account of the death of the employee after his separation from the service, the amount of such distribution...
Page 81 - In the taxable year when paid, If the contributions are paid into a stock bonus or profit-sharing trust, and If such taxable year ends within or with a taxable year of the trust with respect to which the trust Is exempt under section...
Page 104 - TRUST OR ANNUITY PLAN AND COMPENSATION UNDER A DEFERRED-PAYMENT PLAN.