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Act and sec Act provides activities addition adjusted allowed amendment amount apply attributable basis benefits bonds budget receipts capital gains cash claim Code compensation computation Congress believes considered contributions corporation costs coupons December 31 deduction deferred determining distribution earned effect This provision Effective date election eligible employee ending example excess excluded exemption expenses Explanation of provision extent facility Federal filing gain gross income held included income tax increase individual interest investment issued less liability limitation loss ment million in fiscal minimum tax operating paid participant partnership payments percent period permitted Prior law programs provision The Act qualified Reasons for change received reduce refund regulations relating residence respect result Revenue effect risk rules securities Service shareholders spouse tax credit taxable taxpayer tion trade or business transfer treated treatment trust wages
Page 298 - Generally such relationship exists when the person for whom services are performed has the right to control and direct the individual who performs the services, not only as to the result to be accomplished by the work but also as to the details and means by which that result is accomplished.
Page 253 - ... new residence") is purchased and used by the taxpayer as his principal residence, gain (if any) from such sale shall be recognized only to the extent that the taxpayer's adjusted sales price (as defined in subsection (b) ) of the old residence exceeds the taxpayer's cost of purchasing the new residence.
Page 132 - ... personal holding company income as defined in section 543, and if at any time during the last half of the taxable year more than 50 percent in value of its outstanding stock is owned, directly or indirectly, by or for not more than five individuals. (Sections 541-547.) Foreign personal holding companies. — Section 551 (a) requires that the undistributed foreign personal holding company income...
Page 166 - ... persons who have completed or left high school and who are available for full-time study in preparation for entering the labor market...
Page 251 - SO percent (62^2 percent, in the case of a corporation) of the amount of gain which would have been long-term capital gain if the property contributed had been sold by the taxpayer at its fair market value (determined at the time of such contribution).
Page 126 - An individual who owns the entire interest In an unincorporated trade or business shall be treated as his own employer. A partnership shall be treated as the employer of each partner who is an employee within the meaning of paragraph ( 1 ) . (5) Contributions on behalf of owner-employees. The term "contribution on behalf of an owneremployee...
Page 203 - December 31, 1978, this section also applies to each activity — (i) engaged in by the taxpayer in carrying on a trade or business or for the production of income, and (ii) which is not described in paragraph (1).
Page 171 - All employees of all corporations that are members of a controlled group of corporations are to be treated as if they were employees of the same corporation for purposes of determining the years of employment of any employee and wages for any employee up to $6,000.
Page 243 - December 31, 1953, but only if made not later than the time prescribed by law for filing the return for such taxable year (including extensions thereof).