acct 827 treasury reg - subparagraph, are excluded from the...

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TREASURY REGULATION- EXAMPLE Treasury Regulation Section 1.213-1(e)(2) says: (2)  Medicine and drugs.  The term “medicine and drugs” shall include only  items which are legally procured and which are generally accepted as falling within the category of  medicine and drugs (whether or not requiring a prescription). Such term shall not include toiletries or  similar preparations (such as toothpaste, shaving lotion, shaving cream, etc.) nor shall it include  cosmetics (such as face creams, deodorants, hand lotions, etc., or any similar preparation used for  ordinary cosmetic purposes) or sundry items. Amounts expended for items which, under this 
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Unformatted text preview: subparagraph, are excluded from the term medicine and drugs shall not constitute amounts expended for medical care. Remember: Treasury regulations are issued by the Treasury Department which is overseen and directed by the Executive Branch of Government. -the Treasury Department is given the power to Interpret Code in accordance with Congress intentions. - A member of the Presidents Cabinet will oversee the Treasury Department-Note: the Internal Revenue Service (IRS) is a division of the Treasury Department 13dd71db604ff3cba5bf92f27c5704ce125d1247.doc Page 1 of 1...
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This note was uploaded on 05/23/2011 for the course ACCT 827 taught by Professor Gayden during the Spring '11 term at Governors State University.

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