Hearings, Reports and Prints of the House Committee on Ways and Means, Deli 1–5U.S. Government Printing Office, 1973 |
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accelerated depreciation adjusted gross income ADR system amortization amount assets basis billion Bittker bracket capital gains capital gains tax CHAIRMAN changes committee consumption cost deduction deferral depreciation allowances dollars earnings economic effect eliminate equipment equity estate tax excess exemption expenses fact Federal finance foreign gift taxes housing impact incentives included increase individual industry inflation interest Internal Revenue Internal Revenue Code Internal Revenue Service investment credit investor loss ment ordinary income panel payments Pechman period plants pollution present problem production Prof Professor MUSGRAVE Professor SURREY profits programs proposals purchase real estate realized reduce reserve ratio result RINFRET saving subsidy substantial tax aid tax base tax credit tax expenditure tax law tax policy tax provisions tax rates tax reform tax shelter tax system tax treatment taxable income taxation taxpayer tion Treasury Ture value-added tax
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Stran 130 - to employ the windy formula that appears in § 214 and elsewhere: In the case of an individual there shall be allowed as a deduction... . when one can say directly : An individual may deduct. . . . Anyone who has asked a class of law students to read and explain the sick pay and related provisions
Stran 136 - or more in value of the stock in a corporation is owned, directly or indirectly, by or for any person, such corporation shall be considered as owning the stock owned, directly or indirectly, by or for such person.
Stran 522 - Treasury policy in this area in recent years has certainly been in this direction (to the competitive disadvantage of real estate investment). The Treasury's Income Tax Regulations have historically described the depreciation allowance as "that amount which should be set aside for the taxable year in accordance with a reasonably consistent plan (not necessarily
Stran 522 - a uniform rate), so that the aggregate of the amounts set aside, plus the salvage value, will, at the end of the estimated useful life of the depreciable property, equal the cost or other basis of the property . . . The allowance shall not reflect amounts representing a mere reduction in market value."
Stran 649 - to this rule, of long standing but little use, is "Where a farmer is engaged in producing crops which take more than a year from the time of planting to the process of gathering and disposal, expenses deducted may, with the consent of the Commissioner
Stran 611 - an increasing amount of landmark legislation, for example, in the cities and you can own a piece of property and have it in effect down-zoned at times and you don't get a tax loss in that situation until you dispose of the property. If there are no other questions, thank you very much for your
Stran 29 - NATIONAL DEFENSE Exclusion of benefits and allowances to Armed Forces personnel INTERNATIONAL AFFAIRS Exemption for certain income earned abroad by US citizens Exclusion of income earned by individuals in US possessions Western Hemisphere trade corporations Exclusion of gross-up on dividends of less-developed country corporations... .... Deferral of income of controlled foreign subsidiaries. Exclusion of income earned by corporations in US
Stran 20 - economic benefits provided by the tax laws to the various sectors of the economy." In short, they are Government expenditures made through the tax system to give financial assistance to the individuals and corporations involved in the activities affected. These tax expenditures or tax subsidies thus take their place alongside the direct
Stran 132 - properly allocated to such month. If you are married during any period of the taxable year, there shall be taken into account the combined adjusted gross income of you and your wife (husband) for such period. G Special Rules.— (1) Married couples
Stran 132 - expenses shall be allowed only if you and your wife (husband) file a joint return for the taxable year. (2) Gainful employment requirement.—If you are married for any period during the taxable year, there shall be taken into account employment-related expenses incurred during any month of such period only if. (a) Both