Advisory Committee on Tax Exempt and Government Entities (ACT ...

More documents

Recommendations

Info

IRC, 2007-CODE-VOL, SEC. 280F. LIMITATION ON DEPRECIATION FOR LUXUR ... Page 4 of 7under section 168.280F(d)(2) SUBSEQUENT DEPRECIATION DEDUCTIONS REDUCED FOR DEDUCTIONSALLOCABLE TO PERSONAL USE. --Solely for purposes of determining the amount of the depreciationdeduction for subsequent taxable years, if less than 100 percent of the use of any listed property during anytaxable year is used in a trade or business (including the holding for the production of income), all of the useof such property during such taxable year shall be treated as use so described.280F(d)(3) DEDUCTIONS OF EMPLOYEE. --280F(d)(3)(A) IN GENERAL. --Any employee use of listed property shall not be treated as use in atrade or business for purposes of determining the amount of any depreciation deduction allowable to theemployee (or the amount of any deduction allowable to the employee for rentals or other payments undera lease of listed property) unless such use is for the convenience of the employer and required as acondition of employment.280F(d)(3)(B) EMPLOYEE USE. --For purposes of subparagraph (A), the term "employee use" meansany use in connection with the performance of services as an employee.280F(d)(4) LISTED PROPERTY. --280F(d)(4)(A) IN GENERAL. --Except as provided in subparagraph (B), the term "listed property"means --280F(d)(4)(A)(i) any passenger automobile,280F(d)(4)(A)(ii) any other property used as a means of transportation,280F(d)(4)(A)(iii) any property of a type generally used for purposes of entertainment, recreation, oramusement,280F(d)(4)(A)(iv) any computer or peripheral equipment (as defined in section 168(i)(2)(B)),280F(d)(4)(A)(v) any cellular telephone (or other similar telecommunications equipment), and280F(d)(4)(A)(vi) any other property of a type specified by the Secretary by regulations.280F(d)(4)(B) EXCEPTION FOR CERTAIN COMPUTERS. --The term "listed property" shall notinclude any computer or peripheral equipment (as so defined) used exclusively at a regular businessestablishment and owned or leased by the person operating such establishment. For purposes of thepreceding sentence, any portion of a dwelling unit shall be treated as a regular business establishment if(and only if) the requirements of section 280A(c)(l) are met with respect to such portion.
PENIRC S 274 Page 1 of 12IIRC, 2007-CODE-VOL, SEC. 274. DISALLOWANCE OF CERTAIN ENTERTAINMENT, ETC.,EXPENSES.O 2008, CCH INCORPORATED. All Rights Reserved. A WoltersKluwer CompanySEC. 274.DISALLOWANCE OF CERTAIN ENTERTAINMENT, ETC., EXPENSES.274(a) ENTERTAINMENT, AMUSEMENT, OR RECREATION. --274(a)(1) IN GENERAL. --No deduction otherwise allowable under this chapter shall be allowed for any item --274(a)(l)(A) ACTIVITY. --With respect to an activity which is of a type generally considered toconstitute entertainment, amusement, or recreation, unless the taxpayer establishes that the itemwas directly related to, or, in the case of an item directly preceding or following a substantial andbona fide business discussion (including business meetings at a convention or otherwise), thatsuch item was associated with, the active conduct of the taxpayer's trade or business, or274(a)(l)(B) FACILITY. --With respect to a facility used in connection with an activity referredto in subparagraph (A).In the case of an item described in subparagraph (A), the deduction shall in no event exceed theportion of such item which meets the requirements of subparagraph (A).274(a)(2) SPECIAL RULES. --For purposes of applying paragraph (1) --274(a)(2)(A) Dues or fees to any social, athletic, or sporting club or organization shall be treated as items with respect to facilities. 274(a)(2)(B)An activity described in section 212 shall be treated as a trade or business.274(a)(2)(C) In the case of a club, paragraph (l)(B) shall apply unless the taxpayer establishesthat the facility was used primarily for the furtherance of the taxpayer's trade or business and thatthe item was directly related to the active conduct of such trade or business.274(a)(3) DENIAL OF DEDUCTION FOR CLUB DUES. --Notwithstanding the preceding provisions of this subsection, no deduction shall be allowed under this chapter for amounts paid or incurred for membership in any club organized for business, pleasure, recreation, or other social purpose. 274(b) GIFTS. --274(b)(1) LIMITATION. --No deduction shall be allowed under section 162 or section 212 for anyexpense for gifts made directly or indirectly to any individual to the extent that such expense, whenadded to prior expenses of the taxpayer for gifts made to such individual during the same taxableyear, exceeds $25. For purposes of this section, the term "gift" means any item excludable fromgross income of the recipient under section 102 which is not excludable from his gross incomeunder any other provision of this chapter, but such term does not include --274(b)(l)(A) an item having a cost to the taxpayer not in excess of $4.00 on which the name of
Page 5:
ADVISORY COMMITTEE ON TAX EXEMPT AN
Page 9 and 10:
MEMBER BIOGRAPHIESGOVERNMENT ENTITI
Page 11 and 12:
GENERAL REPORTOF THEADVISORY COMMIT
Page 13:
General Report of the Advis
Page 18:
Improving the Employee Plans Compli
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
EXHIBIT DSubmission Type:(insert fr
Page 73 and 74:
EXHIBIT D (CONTINUED)18. Descriptio
Page 75 and 76:
EXHIBIT D (CONTINUED)VCP CHECKLISTT
Page 77 and 78:
EXHIBIT D (CONTINUED)23. Have you i
Page 79 and 80:
EXHIBIT D (CONTINUED)Instructions f
Page 81 and 82:
EXHIBIT D (CONTINUED)23. Under Exam
Page 83 and 84:
ADVISORY COMMITTEE ONTAX EXEMPT AND
Page 85:
The Appropriate Role Of The Interna
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 201:
The Streamlined Closing Agreement F
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 214 and 215:
Page 217:
ADVISORY COMMITTEE ONTAX EXEMPT AND
Page 220 and 221:
PROTECTING PLAN BENEFITS:IMPROVING
Page 222 and 223:
Page 224 and 225:
Page 226 and 227:
Page 228 and 229:
Page 230 and 231: PROTECTING PLAN BENEFITS:IMPROVING
Page 267: ADVISORY COMMITTEE ONTAX EXEMPT AND
Page 271 and 272: Tax Treatment Of Cellular Telephone
Page 279: IRC, 2007-CODE-VOL, SEC. 280F. LIMI
Page 283 and 284: PENIRC S 274 Page 3 of 12relationsh
Page 285: Employee Cell Phones Page 1 of 1Emp
Page 289 and 290: 15. Special Rules for Various Types
Page 292: Withholding RequirementsACCOUNTING
Page 299: ADVISORY COMMITTEE ONTAX EXEMPT AND
Page 303 and 304: Governmental Relationship and Commu
show all

Advisory Committee on Tax Exempt and Government Entities (ACT ...

Create successful ePaper yourself

Delete template?

Save as template?