1201 1298 a1p subchapter p capital gains and losses

This preview shows page 31 - 41 out of 58 pages.

1201 1298 A1P Subchapter P. Capital Gains and Losses, Interest 8000 8023 G91 Subtitle G - Joint Committee on Taxation (Chapters 91-92) 1201 1260 Capital Gains and Losses (also transactions giving ordinary income) 9001 9042 H95 Subtitle H - Financing Presidential Compaigns (Chap. 95-96) 1271 1298 Interest computations - OID etc. Imputed interest on transactions 9501 9602 I98 Subtitle I - Trust Fund Code-funds - airports, highways, etc. 1301 1351 A1Q Subchapter Q. Income Averaging and other special rules 9701 9722 J99 Subtitle J - Coal Industry Health Benefits (Chapter 99) A1R Subchapter R - REPEALED 9801 9833 K100 Subtitle K - Group health plan requirements (Chapter 100)
Image of page 31

Subscribe to view the full document.

Code Code Subject Start Stop Subtitle A - Income Taxes Chapter 1. Normal Taxes and Surtaxes 1 59 A A1A Subchapter A. Determination of Tax Liability 1 5 Individual tax rates 11 15 Corporate tax Rates, Changes in rates 21 26 Non-Refundable Personal Tax Credits 27 36 Other Credits 38 45 F Business Related Credits 46 53 Investment Credit, Work Opportunity Cr., AMT Credit 55 59 A Alternative minimum tax and environmental tax 61 149 A1B Subchapter B. Computation of Taxable Income 61 68 Gross income defined - Also AGI & other overall rules 71 90 Items specifically included in gross income 101 140 Items specifically excluded from gross income 141 150 Tax exemption requirements for state and local bonds 151 153 Personal exemptions 161 198 Itemized deductions for individuals & corps. (bus. type) 211 223 Additional itemized deductions for individuals (personal) 241 249 Special deductions for corporations 261 280 H Items not Deductible (or partially deductible)
Image of page 32
Committee Reports -1. As a bill proceeds through Congress, various committee reports are generated. What three committee reports typically are generated as a result of this process?
Image of page 33

Subscribe to view the full document.

Committee Reports - 2. House Ways and Means Committee, Senate Finance Committee, and Joint Conference Committee may generate committee reports in the process of a bill becoming law.
Image of page 34
Committee Reports-1. Why are Committee Reports useful to a tax researcher?
Image of page 35

Subscribe to view the full document.

Committee Reports- 2. Committee Reports contain a general and technical discussion of a bill’s provisions. The reports contain important information about the legislative intent of a bill that may be used to resolve disputes between taxpayers and the Internal Revenue Service. These reports provide the only guidance about a new law until the Treasury provides regulations.
Image of page 36
Sections of Internal Revenue Code . What uniquely numbered part of the Internal Revenue Code does a tax researcher usually cite?
Image of page 37

Subscribe to view the full document.

Sections of Internal Revenue Code. Solution: The Code is cited by a section number. The sections of a Code are consecutively numbered and each section has a unique number.
Image of page 38
Administrative Sources of Authority Internal Revenue Service Revenue Rulings Treasury Regulations Revenue Procedures Letter Rulings & other pronouncements
Image of page 39

Subscribe to view the full document.

Tax Planning Can be Profitable- (1 of 2) U.S. Ruling Lets NCNB Earn $2.8 Billion Before Taxes Begin Tax Shelter On Texas Deal Could save Bank $1 Billion (A brief “old” newspaper article) NCNB Corp. owes its thanks to the IRS.
Image of page 40
Image of page 41
You've reached the end of this preview.
  • Fall '08
  • BURTON
  • Taxation in the United States, Tax Court, Court District Court Appeals Court Supreme Court

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern