Technical Corrections Act of 1979: Hearing Before the Subcommittee on Taxation and Debt Management Generally of the Committee on Finance, United States Senate, Ninety-sixth Congress, First Session on S.873 ..., S.1549 ..., H.R. 2797 ... November 7, 1979
United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management Generally
U.S. Government Printing Office, 1979 - Всего страниц: 383
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activities additional adjusted allowed alternative amended amount apply beginning believe benefits bill buildings capital changes Clarification Code Committee compensation Congress contribution controlled cooperative corporation cost December 31 deduction determined distribution earned effective date employee enacted equipment ERISA establish excess excise tax excluded exemption expenditures expenses Federal Finance fishing foreign Foundation funds gain gross held Hormel House included income individual inserting intent interest Internal Revenue Internal Revenue Code investment issue itemized leasing legislation LIBRARY lieu thereof limitation loss manufacturers means ment Office organization paid paragraph participant payments pension percent period person present prior problems programs proposed qualified reason received reimbursement relating Report requirements respect result Revenue Act risk rules securities Senator Senator BYRD SEPP Service statement striking subparagraph subsection taxable taxpayer Technical Corrections Act tion Treasury treated trust United
Стр. 330 - unrelated trade or business" means. In the case of any organization subject to the tax Imposed by section 511, any trade or business the conduct of which Is not substantially related (aside from the need of such organization for Income or funds or the use It makes of the profits derived) to the exercise or performance by such organization of Its charitable, educational, or other purpose or function constituting the basis for Its exemption under section 501 (or.
Стр. 8 - AMENDMENT OF 1954 CODE. — Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.
Стр. 112 - Maximum amount for any taxable year. For any taxable year the aggregate amount treated by the taxpayer by reason of this section as a loss from the sale or exchange of an asset which is not a capital asset shall not exceed — (1) $25,000, or...
Стр. 271 - For purposes of this section, the term "charitable contribution" means a contribution or gift to or for the use of — (1) A State, a Territory, a possession of the United States, or any political subdivision of any of the foregoing, or the United States or the District of Columbia, but only if the contribution or gift is made for exclusively public purposes.
Стр. 375 - At any time during the last half of the taxable year more than 50 percent in value of its outstanding stock is owned, directly or indirectly, by or for not more than 5 individuals.
Стр. 325 - ... (D) the furnishing of goods, services, or facilities by a private foundation to a disqualified person shall not be an act of self-dealing if such furnishing is made on a basis no more favorable than that on which such goods, services, or facilities are made available to the general public...
Стр. 330 - Unrelated, trade or business — (a) General rule. The term "unrelated trade or business" means, in the case of any organization subject to the tax imposed by section 511, any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the profits derived) to the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption...
Стр. 330 - In the case of a trust which is not exempt from tax under section 501(a), not all of the unexpired interests in which are devoted to one or more of the purposes described in section 170(c)(2)(B), and which has amounts in trust for which a deduction was allowed under section 170, 545(b)(2), 556(b)(2), 642(c), 2055, 2106(a)(2), or 2522, section 507 (relating to termination of private foundation status), section 508(e...
Стр. 113 - ... if at the time such benefit is provided it is reasonable to believe that the employee will be able to exclude such benefit from gross income under this chapter.
Стр. 325 - To minimize the need to apply subjective arm's-length standards, to avoid the temptation to misuse private foundations for noncharitable purposes, to provide a more rational relationship between sanctions and improper acts, and to make it more practical to properly enforce the law, the committee has determined to generally prohibit selfdealing transactions and to provide a variety and graduation of sanctions, as described below.