Sentences with phrase «tax code sections»

Two of the major housing - related energy tax credits are known by their tax code sections.

This brochure is very comprehensive, contains hyperlinks to key tax code sections and provides useful guidance to property owners, real estate professionals, closers, attorneys and CPAs in resort communities and vacation home marketplaces throughout the United States.

This brochure is very comprehensive, contains hyperlinks to key tax code sections and provides useful guidance to property owners, real estate professionals, closers, attorneys and CPAs in resort communities and vacation home marketplaces throughout the United States.

Under the tax code section 212, the deduction was allowed for ordinary and necessary expenses paid during the year in connection with one of the following:

You can also look to Tax Code Section 1031 to profit on business or investment properties without paying capital gains tax.

Going forward, as part of the fiscal cliff deal, the tax code section 25C retrofit tax credit was extended for 2013, which may help boost remodeling spending in the near - term.

The Income Tax Code section now refers exclusively to real estate assets, and has been retitled, «Exchange of real property held for productive use or investment.»

The break, known as the like - kind exchange or «1031» for the tax code section it comes from, lets real estate owners sell one piece of property and buy a new one soon afterward without paying any capital gains taxes on the profits from the sale.

Not exact matches

This relief is not a section in the Tax Code; it's the section in a 1978 law that created it.

So - called bonus depreciation is set to expire this year, and rules (in Section 179 of the tax code) that allow small companies to take big deductions for many expenses are set to become much less generous.

See also IRS Announcement 2017 - 04 (March 27, 2017), I.R.B. 2017 - 16 (April 17, 2017), which provides relief from certain excise taxes under Code section 4975 and any related reporting requirements to conform to the Department's position in EBSA Field Assistance Bulletin 2017 - 01.

Under Section 179 of the tax code, explains Brian McCuller, JD, CPA, «the expensing provision allows capital investments of up to $ 500,000 for certain property to be taken as an expense deduction — rather than being depreciated break — which was made permanent under the PATH Act passed at the end of 2015 — phases out for asset purchases above $ 2 million.»

Section 162 (m) of the Internal Revenue Code imposes limitations on the deductibility for corporate federal income tax purposes of remuneration in excess of $ 1 million paid to the chief executive officer, chief financial officer and each of the three next most highly compensated executive officers of a public company.

The Company has maintained documentation (including any applicable transfer pricing studies) in connection with such related party transactions in accordance with Sections 482 and 6662 of the Code and the Treasury Regulations promulgated thereunder and any comparable provision of any Tax law.

No taxing authority is asserting or threatening to assert a claim against the Company under or as a result of Section 482 of the Code or any similar provision of any foreign, state or local Tax law.

(m) Except as otherwise set forth in Schedule 2.20 (m) of the Disclosure Schedule, all related party transactions involving the Company are at arm's length in compliance with Section 482 of the Code and the Treasury Regulations promulgated thereunder and any comparable provision of any Tax law.

Code Section 162 (m) limits the U.S. federal income tax deduction for compensation paid to our Chief Executive Officer, our Chief Financial Officer and certain other highly compensated executive officers (including, among others, our next three other most highly compensated executive officers (other than the Chief Executive Officer and Chief Financial Officer) as of the end of the calendar year).

For years prior to 2018, we also were permitted to receive a tax deduction for «performance - based» compensation as defined under Code Section 162 (m) without regard to the $ 1,000,000 limitation.

In addition, this discussion does not address U.S. federal tax laws other than those pertaining to the U.S. federal income tax, nor does it address any aspects of the unearned income Medicare contribution tax pursuant to Section 1411 of the Code, or U.S. state, local, or non-U.S. taxes.

The payments and benefits provided under his executive agreement in connection with a change in control may not be eligible for a federal income tax deduction for the company pursuant to Section 280G of the Internal Revenue Code.

If the payments or benefits payable to him in connection with a change in control would be subject to the excise tax on golden parachutes imposed under Section 4999 of the Internal Revenue Code, then those payments or benefits will be reduced if such reduction would result in a higher net after - tax benefit to him.

For starters, to get a tax deduction for a donation, a charity must qualify under IRS rules — specifically, under section 170 (c) of the Internal Revenue Code.

These payments and benefits also may be subject to an excise tax under Section 4999 of the Internal Revenue Code.

For the purposes of the Public Service Loan Forgiveness Program, not - for - profit organizations that are not tax - exempt under Section 501 (c)(3) of the Internal Revenue Code are considered qualifying...

Not - for - profit organizations that are not tax - exempt under Section 501 (c)(3) of the Internal Revenue Code and that do not provide a qualifying public service as their primary function

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

Because of the limitations of Internal Revenue Code Section 162 (m), we generally receive a federal income tax deduction for compensation paid to our chief executive officer and to certain other highly compensated officers only if the compensation is less than $ 1,000,000 per person during any fiscal year or is «performance - based» under Code Section 162 (m).

In consultation with senior management, oversee regulatory compliance with respect to compensation matters, including overseeing the Company's policies on structuring compensation programs to preserve tax deductibility, and, as and when required, establishing performance goals and certifying that performance goals have been attained for purposes of Section 162 (m) of the Internal Revenue Code.

For equity awards granted prior to recent tax law changes, these conditions were intended to qualify the stock - based awards as tax - deductible compensation under Section 162 (m)(4)(c) of the Internal Revenue Code.

Under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, or the Code, if a corporation undergoes an «ownership change,» the corporation's ability to use its pre-change net operating loss carryforwards and other pre-change tax attributes, such as research tax credits, to offset its post-change income and taxes may be limited.

as a transaction that is generally tax - free, for U.S. federal income tax purposes, under Sections 355 and 368 (a)(1)(D) of the Code.

It is a condition to the distribution that HP Co. receive (i) a private letter ruling from the IRS and / or one or more opinions from its external tax advisors, in each case, satisfactory to HP Co.'s board of directors, regarding certain U.S. federal income tax matters relating to the separation and related transactions, and (ii) an opinion of each of Wachtell, Lipton, Rosen & Katz and Skadden, Arps, Slate, Meagher & Flom LLP, satisfactory to HP Co.'s board of directors, regarding the qualification of the distribution, together with certain related transactions, as a transaction that is generally tax - free, for U.S. federal income tax purposes, under Sections 355 and 368 (a)(1)(D) of the Code.

The 401 (k) plan is intended to be qualified under Code Section 401 (a) with the 401 (k) plan's related trust intended to be tax exempt under Code Section 501 (a).

Section 1042 of the Internal Revenue Code originally assigned that tax benefit only to C corporations.

In addition, although we have not adopted a formal policy regarding tax deductibility of compensation paid to our NEOs, we intend to consider tax deductibility under Code Section 162 (m) as a factor in our compensation decisions.

Based on the limitations imposed by Code Section 162 (m), we generally may receive a federal income tax deduction for compensation paid to our Chief Executive Officer and to certain of our other highly compensated officers only if the compensation is less than $ 1,000,000 per person during any year or is «performance - based» under Code Section 162 (m).

Schwab Charitable Fund ™ is recognized as a tax - exempt public charity as described in Sections 501 (c)(3), 509 (a)(1), and 170 (b)(1)(A)(vi) of the Internal Revenue Code.

Subsequent tax incentives in the 1980s (such as Section 1042 of the Internal Revenue Code) allowed owners of privately held businesses to defer their capital gains taxes when they sold more than 30 % of C corporations to the employees and managers through ESOPs or eligible worker cooperatives.15 Often, retiring entrepreneurs would sell 100 % in stages so that they could fully retire if they had no heir to operate the company or the family wished to cash out on their stake.

The Chamber, like other groups organized under section 501 (c) of the tax code, is not legally required to disclose the sources of the money it independently spends on elections.

The equipment must qualify for the deduction per the specifications within Section 179 of the tax code and the purchase price must be within the dollar amount ranges allowable by the code.

Taxes are not incurred when exchanging annuities, as long as the exchange is in compliance with section 1035 of the Internal Revenue Code.

· Prevent inverted companies from accessing a foreign subsidiary's earnings while deferring U.S. tax through the use of creative loans, which are known as «hopscotch» loans (Action under section 956 (e) of the code)

· Prevent inverted companies from restructuring a foreign subsidiary in order to access the subsidiary's earnings tax - free (Action under section 7701 (l) of the tax code)

In a widely anticipated move in the tax world, House Ways and Means Chairman Dave Camp (R - MI) has released a comprehensive tax reform discussion draft after both tax - writing committees had released a number of discussion drafts dealing with specific sections of the tax code.

Puerto Rico would have been left in a bind in which it had no access to the U.S. municipal bankruptcy process but was preempted from enacting any analogous debt restructuring mechanism by Section 903 (1) of that same Bankruptcy Code, per Franklin California Tax - Free Trust.

The program is named after the 1978 addition of section 401 (k) to the U.S. federal tax code which allowed such pre-tax investments.

Charitable Organization A tax - exempt organization registered with the IRS and recognized under Section 501 (c)(3) of the Internal Revenue Code.

Happily, tax - exempt organizations under section 501 (c)(3) of the tax code» whether they be churches or humane societies» are free to be as public as they want to be about whatever concerns them, no matter how controversial or «political» the subject.

The federal agency revoked the magazine's tax - exempt status for violating a specific regulation that forbids organizations covered by section 501 - c - 3 of the IRS code from endorsing political candidates.

Under Section 501 (C)(3) of the Internal Revenue Code of 1954, contributions to educational institutions are tax exempt; in other words, a rich and rabid football fan can deduct the cost of sending a swivel - hipped halfback to his favorite seat of learning.