Tax Reform Bill of 1975, Parts 1-4

accelerated deductions allocation allowed amended by striking amended to read AMENDMENT OF SECTION amends sec amount assessment assets attributable base period basis beginning after December beneficiary Bill Sec capital gain capital losses carryback chapter computed contract controlled foreign corporation costs December 31 depreciation described in section determination DISC distribution dividends effective date election employee end thereof exceed excess exemption expenses farm filing film foreign corporation foreign tax credit foreign trust gross income income tax individual inserting in lieu interest Internal Revenue Code Internal Revenue Service investment itemized deductions lieu thereof limitation nonresident alien ordinary income paid partnership payment percent person present law purposes qualified read as follows real property recapture redesignating REIT related income respect retirement Secretary shareholders standard deduction subchapter subparagraph subpart Tax Court tax liability taxable income taxable years beginning taxpayer thereof the following tion trade or business treated U.S. tax United