Treasury's Temporary and Proposed Regulations Relating to Recordkeeping for Automobiles and Certain Other Property: Hearing Before the Committee on Ways and Means, House of Representatives, Ninety-ninth Congress, First Session, March 5, 1985U.S. Government Printing Office, 1985 - 376 pages |
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abuse additional adequate contemporaneous records American amount Atascadero auto automobiles believe BERYL ANTHONY burdensome business purposes business vehicles Chairman ROSTENKOWSKI commuting company vehicles compliance comply concern contemporaneous recordkeeping requirements Contractors Coopers & Lybrand cost DAN ROSTENKOWSKI Deficit Reduction Act DOWLEY drive EGGER emergency employees equipment exempt farm farmers February 20 Federal fleet fringe benefit hearing imposed income industry Internal Revenue Code Internal Revenue Service IRS regulations issue keeping requirements law enforcement legislation letter listed property MARTIN FROST ment mileage miles million National Association ness October 24 Odometer operations PEARLMAN personnel prior law problem proposed regulations recordkeeping rules repeal Representative in Congress response result safe harbor Section Section 179 SMACNA small business statement substantiation tax code tax law Tax Reform Act taxation taxpayers temporary and proposed temporary regulations Thank tion Treasury trucks urge vehicles home Washington withholding
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Page vii - American Association of Community and Junior Colleges American Association of State Colleges and Universities American Council on Education Association of American Universities Association of...
Page 85 - Those records, the Conferees explained, must indicate "the business purpose of the expense or use, unless . . . [that] purpose is clear from the surrounding circumstances." They also noted that with respect to automobiles, "logs recording the date of the trip and the mileage driven for business purposes must be kept.
Page 79 - ... ordinary and necessary expenses incurred in carrying on a trade or business, within the meaning of section 214 (a) of the Revenue Act of 1921 (42 Stat.
Page 258 - The art of taxation consists in so plucking the goose as to obtain the largest amount of feathers with the least possible amount of hissing.
Page 266 - Dollars ($25.00) or not more than One Hundred Dollars ($100.00), or by imprisonment in the County Jail for not — rabe to contalnCHAPTEE 12 less than five (5) days or more than thirty (30) days, or by both such fine and imprisonment.
Page 82 - I will be happy to answer any questions you or members of the Committee may have. [The prepared statement of Mr.
Page 316 - Druggists (NARD) represents the owners of 40,000 independent pharmacies, where over 75,000 pharmacists dispense more than 70 percent of the nation's prescription drugs. Together, they serve 18 million persons daily and provide nearly 85 percent of the Medicaid pharmaceutical services.
Page 266 - Dollars ($500.00), or by imprisonment in the county jail for not less than thirty (30) days, nor more than six (6) months, or by both such fine and imprisonment.
Page 190 - General Explanation of the Revenue Provisions of the Deficit Reduction Act of 1984, prepared by the Staff of the Joint Committee on Taxation.
Page 311 - ... the vehicle is owned or leased by the employer and is provided to one or more employees for use in connection with the employer's trade or business and is used in the employer's trade or business...