Sentences with phrase «revenue code»

Which sections of the internal revenue code are involved?

Section 1031 of the U.S. Internal Revenue Code allows investors to defer capital gains taxes on the exchange of like - kind properties.

Qualified Plan - Any retirement plan that meets the applicable requirements of the Internal Revenue Code for tax - favored treatment.

Section 415 of the Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans, and requires that the IRS annually adjust these limits for inflation and increases in cost - of - living.

In fact, all income is taxable unless it is specifically mentioned in the Internal Revenue Code as not taxable.

As is expected, the Internal Revenue Code imposes U.S. taxation only on those «aliens» who have income sources that are connected to the United States.

If a «non-natural person» (a corporation, partnership, or other entity that is not a human being) owns a deferred annuity, the annual growth is taxable as earned unless that entity is acting as «the agent of a natural person» (IRC [Internal Revenue Code] Section 72 (u)-RRB-.

Section 7702 of the United States Internal Revenue Code defines a life insurance contract.

The S corporation derives its name from Subchapter S of the Internal Revenue Code which provides corporations a «tax election» option — a choice on how they want to be taxed.

Within the context of Internal Revenue Code rules, you have full control over which types of metals your IRA owns.

Tax - exempt bonds may be issued under the Internal Revenue Code only by limited types of issuers for limited types of projects.

In certain circumstances, the U.S. Internal Revenue Code requires that individual income taxpayers report the refund of excess state or local income tax payments received by the taxpayer as income for federal income tax purposes.

For «lower income» individuals whose income falls within the bottom two ordinary income tax brackets, the Internal Revenue Code applies a 0 % long - term capital gains rate to the extent their gains also fall within the lower two brackets.

The TCJA introduced a new Internal Revenue Code provision, Section 965, which imposes a one - time transition tax on the untaxed foreign earnings of certain specified foreign corporations as if those earnings had been repatriated to the United States.

All organizations that are tax - exempt under section 501 (c)(3) of the Internal Revenue Code qualify, regardless of the services that they provide.

These two Acts both amend Section 121 of the Internal Revenue Code adding restrictions as to how you can take advantage of the tax free exclusion when your property was previously held and used as investment property.

Related posts: Powerful Evidence for School Choice April 22, 2013 by Dan Mitchell I expressed pessimism a few days ago about the possibility of replacing the corrupt internal revenue code with a flat tax.

... breast pumps and supplies that assist lactation are medical care under § 213 (d) of the Internal Revenue Code because, like obstetric care, they are for the purpose of affecting a structure or function of the body of the lactating woman.

Yet there's no reason to pay more than the minimum, and the Internal Revenue Code actually gives property owners lots of tax breaks.

A Solo - K like a regular 401 (k) plan must meet certain ERISA and Internal Revenue Code requirements.

2 The Cash Out Option is an optional feature that must be elected at contract issue and subject to Internal Revenue Code limitations.

In addition to the new charitable funds, New York is decoupling provisions in its tax law from the federal revenue code — moves that have broad, bipartisan support and would have resulted in a «stealth tax» to New Yorkers.

Section 142 of the Internal Revenue Code includes qualified highway and freight transfer facilities as types of privately developed and operated projects for which PABs may be issued.

See Revenue Code § 1563 (a) for «mechanical ownership tests, which are used in determining if a controlled group situation exists.»

Internal Revenue Code S. 871 also provides strong incentives for «aliens» to bring their capital to the USA.

Find out about Internal Revenue Code updates affecting small businesses that take effect this year and the next.

«Because it's retirement plan money that's being used for this, you have ERISA and internal revenue code penalties that apply unless all the Is are dotted and the Ts are crossed,» warns O'Donnell.

Early Payout Planner shows how to structure a Substantially Equal Payment Plan according to the IRS Revenue Code 72t / q so that your client can make withdrawals from their tax - deferred 401 (k) or IRA without being hit with the 10 % penalty.

The Rainmaker Plan is a safe, secure and proven plan based on the same Internal Revenue Code techniques and provisions used by large pension funds.

Private Foundation A tax - exempt organization recognized under Section 501 (c)(3) of the Internal Revenue Code formed and controlled by a donor or small group of donors for the purpose of distributing money to charitable organizations or individuals.

Allows breastfeeding equipment and consultation services to be tax deductible for families (amends Internal Revenue Code definition of «medical care»).

† Your personal contribution limit may be lower than Internal Revenue Code maximums.

Accordingly, the Internal Revenue Code contains limits on the amount of income an eligible taxpayer may earn and limits on adjusted gross income and still qualify for the EITC.

Section 6331 of the Internal Revenue Code authorizes the IRS to levy taxpayers to collect back taxes.

The Internal Revenue Code outlines the rules for taxation of interest income.

Governmental organizations — Federal, state, local, Tribal Not - for - profit organization that is tax - exempt under Section 501 (c)(3) of the Internal Revenue Code A not - for - profit organization that provides some specific public services, such as public education, law enforcement, public health, or legal services

Using a 401 (k) plan allows you to earmark some of your income for retirement savings, and the Internal Revenue Code rewards you with a variety of tax breaks.