Tax Proposals Affecting Private Pension Plans: Hearings, Ninety-second Congress, Second Session ...

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Page 376 - In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material...
Page 371 - AMENDMENT OF 1954 CODE. — Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.
Page 390 - Into account only the aggregate amount received by the surviving annuitant under the contract before the annuity starting date, to the extent that such amount was excludable from gross income under this subtitle or prior Income tax laws...
Page 419 - Sec. 401 (a) is a plan established and maintained by an employer primarily to provide systematically for the payment of definitely determinable benefits to his employees over a period of years, usually for life, after retirement.
Page 376 - Earned income" means wages, salaries, professional fees, and other amounts received as compensation for personal services actually rendered...
Page 382 - ... (B) a period not extending beyond the life expectancy of such owner or the life expectancy of such owner and his spouse. " (4) If the owner dies before his entire interest has been distributed to him, or if distribution has been commenced as provided in paragraph...
Page 389 - ... by reason of a mere change in the form of conducting the trade or business so long as the property is retained in such trade or business as section 38 property and the taxpayer retains a substantial interest in such trade or business. (c) Special rule. Any increase in tax under subsection (a) shall not be treated as tax imposed by this chapter for purposes of determining the amount of any credit allowable under subpart A.
Page 373 - In the case of an employees' trust described in section 401 <a), which is exempt from tax under section 501 (a...
Page 393 - Income under this subtitle or prior Income tax laws) exceeds the aggregate premiums or other consideration paid. For purposes of this section, any amount received which is in the nature of a dividend or similar distribution shall be treated as an amount not received as an annuity.
Page 378 - Secretary or his delegate, to a trust which uses annuity, endowment, or life insurance contracts of a life insurance company exclusively to fund the benefits prescribed by the trust, if the life insurance company supplies annually such information about trust transactions affecting owner-employees as the Secretary or his delegate shall by forms or regulations prescribe. For purposes of this paragraph, the term 'bank...

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