Committee PrintsU.S. Government Printing Office, 1969 |
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Page 55
... amendment as a step toward equality amongst tax- payers and as a striking demonstration of how tax simplicity is attainable when the primary problems are faced . Eliminating the distortion of tax liability resulting from the timing of ...
... amendment as a step toward equality amongst tax- payers and as a striking demonstration of how tax simplicity is attainable when the primary problems are faced . Eliminating the distortion of tax liability resulting from the timing of ...
Page 57
... amendment will effectively restrict the competitive ability For example , if Mr. A of small business and discourage new business endeavors . now successfully runs a single unit , take - out food store and forms a new corpora- tion to ...
... amendment will effectively restrict the competitive ability For example , if Mr. A of small business and discourage new business endeavors . now successfully runs a single unit , take - out food store and forms a new corpora- tion to ...
Page 58
... amendment which restricts the installment provi- sion to sales in which payments are actually made periodically . The treatment of a readily marketable debenture as a cash equivalent accords with generally accepted concepts , and should ...
... amendment which restricts the installment provi- sion to sales in which payments are actually made periodically . The treatment of a readily marketable debenture as a cash equivalent accords with generally accepted concepts , and should ...
Page 59
... amendment . The extremely complex nature of the computations which will be required of bondholders , especially holders other than the original owner , will cause hardship and result in an unjustified recordkeeping expense . The ...
... amendment . The extremely complex nature of the computations which will be required of bondholders , especially holders other than the original owner , will cause hardship and result in an unjustified recordkeeping expense . The ...
Page 60
... amendment to the existing provisions of law dealing with stock dividends is necessary to carry out the section's intended purpose . It frustrates the tendency to resort to complex financing and tax maneuvers in an effort to avoid the ...
... amendment to the existing provisions of law dealing with stock dividends is necessary to carry out the section's intended purpose . It frustrates the tendency to resort to complex financing and tax maneuvers in an effort to avoid the ...
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Common terms and phrases
accelerated depreciation accumulated activities allowed amendment amount annuity apply assets benefit capital gains Chairman charitable contributions Code section computation Congress cost deduction deferred compensation depletion distribution dividends earnings and profits economic eliminate employee enacted excess exempt organizations expenses Federal foreign tax credit funds gift handicapped House bill income tax increase individual institutions interest Internal Revenue Code Internal Revenue Service investment income Irvine Company James Irvine James Irvine Foundation legislation limitation loss MARIO MEROLA MILLARD TAWES operations ordinary income payments penalty percent percentage period permit plans present law private foundations problems programs Proposed Change proposed section provisions purposes received recommend respect result retirement rules Senate standard deduction substantial tax law tax preferences tax rate tax reform tax treatment tax-exempt taxable income taxation taxpayer tion Treasury trust U.S. tax United UNITED STATES SENATE unrelated business income
Popular passages
Page 299 - Amendment; it presupposes that right conclusions are more likely to be gathered out of a multitude of tongues, than through any kind of authoritative selection. To many, this is, and always will be folly: but we have staked upon it our all.
Page 88 - An educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on...
Page 93 - If as of the date of a gift a transfer for charitable purposes is dependent upon the performance of some act or the happening of a precedent event in order that it might become effective, no deduction is allowable unless the possibility that the charitable transfer will not become effective is so remote as to be negligible.
Page 63 - An Act to establish a Code of Law for the District of Columbia...
Page 135 - (a) TREATMENT OF TAXES PAID BY FOREIGN CORPORATION. — For purposes of this subpart, a domestic corporation which owns at least 10 percent of the voting stock of a foreign corporation...
Page 485 - I am here today speaking on behalf of the National League of Cities and the United States Conference of Mayors.
Page 63 - That the said corporation may take and hold any additional donations, grants, devises, or bequests which may be made in further support of the purposes of the said corporation...
Page 88 - An organization, such as a primary or secondary school, a college, or a professional or trade school, which has a regularly scheduled curriculum, a regular faculty, and a regularly enrolled body of students in attendance at a place where the educational activities are regularly carried on.
Page 53 - That the objects of the corporation shall be to encourage, in the broadest and most liberal manner, investigation, research, and discovery, and the application of knowledge to the improvement of mankind...
Page 216 - This report responds to requests by the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives...