Committee PrintsU.S. Government Printing Office, 1969 |
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Page 17
... apply prospectively should be adopted to avoid the imposition of a really impos- sible task of reconstructing for past years the income of young people for whom no income records were kept because it was known that they would have no ...
... apply prospectively should be adopted to avoid the imposition of a really impos- sible task of reconstructing for past years the income of young people for whom no income records were kept because it was known that they would have no ...
Page 24
... The new individual rate schedules and the maximum rate of 50 % on earned income are commendable , but this maximum should apply to all income without distinction . 12. The taxation of interest on state and local bonds 24 2.
... The new individual rate schedules and the maximum rate of 50 % on earned income are commendable , but this maximum should apply to all income without distinction . 12. The taxation of interest on state and local bonds 24 2.
Page 30
... applying to increments in property accruing before the change . Such increment often is in fact nothing but inflation ... apply only to reserves or properties discovered hereafter . We urge this Committee to delay its decisions on this ...
... applying to increments in property accruing before the change . Such increment often is in fact nothing but inflation ... apply only to reserves or properties discovered hereafter . We urge this Committee to delay its decisions on this ...
Page 39
... application Such retroactivity is objectionable and inequitable , of proposed changes . and should be eliminated . Among the major provisions in which retroactive application is involved are the following : application of increased ...
... application Such retroactivity is objectionable and inequitable , of proposed changes . and should be eliminated . Among the major provisions in which retroactive application is involved are the following : application of increased ...
Page 63
... APPLICATION A number of proposed provisions will apply to investments made and trans- actions concluded prior to the time that H. R. 13270 was introduced . The tax effects considered at the time these transactions were undertaken were ...
... APPLICATION A number of proposed provisions will apply to investments made and trans- actions concluded prior to the time that H. R. 13270 was introduced . The tax effects considered at the time these transactions were undertaken were ...
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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...