You convert your deductions into basis by making an election under Code Section 266.
Proc. 2003-61 appropriately interprets the requirements for equitable relief under Internal Revenue Code Section 6015(f).
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There is no grandfather provision in Code Section 710 so it will affect existing deals.
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Under Code Section 107, the housing allowance would have been exempt from income tax.
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Internal Revenue Code Section 6015 provides relief from liability on a joint tax return under certain circumstances.
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The Adversary Action alleged fraudulent transfers under both Bankruptcy Code section 548 and the Colorado Uniform Transfer Act.
Smith is not generally paying his debts as they come due within the meaning of Bankruptcy Code section 303(h).
Code Section 469 was part of the Tax Reform Act of 1986 and was meant to drive a stake into the heart of tax shelters.
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They would often insist that the answer to a legal question should consist of nothing more than reading the applicable code section, which should take no more than 20 minutes.
The question no one has gotten either Romney or Obama to answer is what future might we expect in the next administration for Internal Revenue Code Section 107 (IRC 107).
The argument the IRS has is that there is a Code section that protects people who turn property over to the IRS, even if the levy turns out to be wrongful.
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Proc. 2003-61 provides that its list is nonexclusive, and that the Service will consider and weigh all relevant facts and circumstances in deciding applications for equitable relief under Code Section 6015.
It concerns Code Section 469 (Passive Activity Loss Rules).
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The Ninth Circuit surprised everybody by asking the parties to start briefing on whether Code Section 107 was constitutional and appointing an amicus, Professor Erwin Chemerinsky, to make the argument that it was not.
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It had a lot of moving parts to it, but the part that Professor Morse and I found of interest concerned Code Section 1045, which allows you to defer gain on the sale of small business stock by buying into a new business.
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Moreover, the new law requires these folks to figure their tax bills another way, applying a federal partial phaseout of itemized deductions for the better off (U.S. Tax Code Section 68) that has itself been at least temporarily phased out by the George W. Bush tax cuts.
Internal Revenue Code Section 6015(f) provides that where a requesting spouse does not qualify for relief under Section 6015(b), the IRS may nonetheless relieve her of liability for the tax deficiency on the joint tax return where it is inequitable to hold her liable for the tax.
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Being gay in India can get one thrown into jail in this country because of a section of the Indian Penal Code (Section 377) which criminalizes same-sex relationships.
For two counts, prosecutors used the false statements statute (United States Code, Section 1001), which criminalizes lies made not under oath.
And neither does the State of California, which makes it a misdemeanor to solemnize a marriage without first reviewing the marriage license (Penal Code, Section 360).
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Problem is that renting out real estate is penalized in the tax code under Section 469 passive activity rules and that put a major damper on this timely investment idea.
Details can be found in the Tax Code ( IRC section 6501 and following).
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Now, under the current Tax Code, Section 6103 limits disclosure of taxpayer information except under specific circumstances.
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In 1978, Congress amended the Internal Revenue Code by adding section 401(k), whereby employees are not taxed on income they choose to receive as deferred compensation rather than direct compensation.
The other break involves a special provision for small business known by the section of the tax code where it's found: Section 179.
Section 529 of the Internal Revenue Code created the plan much like Section 401(k) created individual retirement accounts.
The game itself suggests some changes and points out to its users where the relevant section of code is.
This is because while gambling winnings are included in income by virtue of Section 61 of the Code, gambling losses are only deductible to the extent of gambling winnings under Section 165(d).
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Some people know these tax credits by the name 48c, which refers to their section in the tax code.
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