Description of Revenue Provisions Contained in the President's Fiscal Year ... Budget ProposalU.S. Government Printing Office, 2000 |
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Common terms and phrases
2000 Budget Proposal addition allocation amount annuity apply assets basis bonds capital charitable contributions charitable organizations compensation contract cost date of enactment debt instrument December 31 Description of Proposal determined distribution dividends earnings economic Effective date.--The proposal election eligible employer empowerment zones entity excise tax exemption expenses Federal filing foreign corporation foreign tax credit forward contract funds gain gift tax gross income Identified Tax Haven income tax increase individual interest investment itemized deductions limit loans mark-to-market paid participants partnership payments penalty percent present law President's Fiscal Prior Action Proposal The proposal proposal was included purchase reduce REMIC respect retirement plan Roth IRA rules shareholders spouse standard deduction subsidy tax benefits tax liability tax rate tax shelter tax-exempt taxable years beginning taxation taxpayer tracking stock trade or business transaction transfer Treasury treated U.S. tax withholding tax
Popular passages
Page 81 - The credit also is available to an individual, regardless of age, who is retired on disability and who was permanently and totally disabled at retirement. For this purpose, an individual is considered permanently and totally disabled if he or she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or that has lasted or can be expected to last for a continuous period of not less than...
Page 451 - The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
Page 364 - reorganization" means (A) a statutory merger or consolidation, or (B) the acquisition by one corporation in exchange solely for all or a part of its voting stock : of at least 80 per centum of the voting stock and at least 80 per centum of the total number of shares of all other classes of stock of another corporation...
Page 363 - ... 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 531 - States, the factors taken into account shall include whether — (A) the income, gain, or loss is derived from assets used in or held for use in the conduct of such trade or business, or (B) the activities of such trade or business were a material factor in the realization of the income, gain, or loss.
Page 193 - In general, qualifying property is defined as depreciable tangible personal property that is purchased for use in the active conduct of a trade or business. The...
Page 66 - ... (b) In general, the amounts referred to in paragraph (a) of this section include amounts paid or incurred (1) to add to the value, or substantially prolong the useful life, of property owned by the taxpayer, such as plant or equipment, or (2) to adapt property to a new or different use.
Page 186 - To be eligible for the exclusion, a taxpayer must have owned the residence and occupied it as a principal residence for at least two of the five years prior to the sale or exchange.
Page 383 - ... through the ownership, directly or indirectly, of 50 percent or more of the total combined voting power of all classes of stock entitled to vote or 50 percent or more of the total value of shares of all classes of stock of the corporation.
Page 531 - Income that is effectively connected with the conduct of a US trade or business is taxed at the graduated rates applicable to US citizens and residents.