The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1972 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 allocation amended by T.D. amount annuity contract annuity plan arm's length attributable basis beneficiary benefits billing-month bond calendar compensation computed December 31 described in section determined disposition distribution election employee's example excess contribution fair market value filed graph gross income gross profit includible in gross installment Internal Revenue Code January June justments liability meet the requirements ment method of accounting months 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 taxable income taxable years beginning taxpayer tion total unstated interest trade or business transfer treated tributions trust
Popular passages
Page 7 - ... (B) such employees as qualify under a 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 7 - 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; 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 195 - If no method of accounting has been regularly used by the taxpayer, or if the method used does not clearly reflect income, the computation of taxable income shall be made under such method as, in the opinion of the Secretary or his delegate, does clearly reflect income.
Page 207 - A casual sale or other casual disposition of personal property (other than property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year) for a price exceeding $1,000, may (under regulations prescribed by the Secretary or his delegate) be returned on the basis and in the manner prescribed in subsection (a).
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 14 - ... (2) if under the trust instrument it is impossible, at any time prior to the satisfaction of all liabilities with respect to employees and their beneficiaries under the trust, for any part of the corpus or income to be (within the taxable year or thereafter) used for, or diverted to, purposes...
Page 164 - Such individual, at the time the option Is granted, does not own stock possessing more than 10 percent of the total combined voting power of all classes of stock of the employer corporation or of its parent or subsidiary corporation.
Page 48 - Code of the owner-employee to whom the excess contribution is to be repaid has been finally determined for his taxable year in which such excess contribution was made. For purposes of this subdivision, a final determination of the amount of tax liability of the owneremployee includes...
Page 94 - ... for the period beginning with the date on which it was put into effect and ending with the 15th day of the third month following the close of the taxable year of the employer in which the plan was put...
Page 157 - Is adopted ; (3) Under the terms of the plan, no employee can be granted an option if such employee, immediately after the option is granted, owns stock possessing 5 percent or more of the total combined voting power or value of all classes of stock of the employer corporation or of its parent or subsidiary corporation.