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

More documents

Recommendations

Info

PENIRC S 274 Page 2 of 12the taxpayer is clearly and permanently imprinted and which is one of a number of identicalitems distributed generally by the taxpayer, or274(b)(l)(B) a sign, display rack, or other promotional material to be used on the businesspremises of the recipient.274(b)(2) SPECIAL RULES. --274(b)(2)(A) In the case of a gift by a partnership, the limitation contained in paragraph (1)shall apply to the partnership as well as to each member thereof.274(b)(2)(B) For purposes of paragraph (I), a husband and wife shall be treated as onetaxpayer.274(~)CERTAIN FOREIGN TRAVEL. --274(c)(1) IN GENERAL. --In the case of any individual who travels outside the United Statesaway from home in pursuit of a trade or business or in pursuit of an activity described in section 212,no deduction shall be allowed under s Bon 162 or section212 for that portion of the expenses ofsuch travel otherwise allowable under such section which, under regulations prescribed by theSecretary, is not allocable to such trade or business or to such activity.274(c)(2) EXCEPTION. --Paragraph (1) shall not apply to the expenses of any travel outside theUnited States away from home if --274(c)(2)(A) such travel does not exceed one week, or274(c)(2)(B)the portion of the time of travel outside the United States away from home whichis not attributable to the pursuit of the taxpayer's trade or business or an activity described insection 212 is less than 25 percent of the total time on such travel.274(c)(3) DOMESTIC TRAVEL EXCLUDED. --For purposes of this subsection, travel outside theUnited States does not include any travel from one point in the United States to another point in theUnited States.274(d) SUBSTANTIATION REQUIRED. --No deduction or credit shall be allowed --274(d)(1) under section 162 or 212 for any traveling expense (including meals and lodging whileaway from home),274(d)(2) for any item with respect to an activity which is of a type generally considered toconstitute entertainment, amusement, or recreation, or with respect to a facility used in connectionwith such an activity,274(d)(3) for any expense for gifts, or274(d)(4) with respect to any listed property (as defined in section 280F[d)(4)),unless the taxpayer substantiates by adequate records or by sufficient evidence corroborating thetaxpayer's own statement (A) the amount of such expense or other item, (B) the time and place of thetravel, entertainment, amusement, recreation, or use of the facility or property, or the date anddescription of the gift, (C) the business purpose of the expense or other item, and (D) the business
PENIRC S 274 Page 3 of 12relationship to the taxpayer of persons entertained, using the facility or property, or receiving the gift.The Secretary may by regulations provide that some or all of the requirements of the precedingsentence shall not apply in the case of an expense which does not exceed an amount prescribedpursuant to such regulations. This subsection shall not apply to any qualified nonpersonal use vehicle(as defined in subsection (i)).274(e) SPECIFIC EXCEPTIONS TO APPLICATION OF SUBSECTION (a). --Subsection (a) shallnot apply to --274(e)(1) FOOD AND BEVERAGES FOR EMPLOYEES. --Expenses for food and beverages(and facilities used in connection therewith) furnished on the business premises of the taxpayerprimarily for his employees.274(e)(2) EXPENSES TREATED AS COMPENSATION. --274(e)(2)(A) IN GENERAL. --Except as provided in subparagraph (B), expenses for goods,services, and facilities, to the extent that the expenses are treated by the taxpayer, with respect tothe recipient of the entertainment, amusement, or recreation, as compensation to an employeeon the taxpayer's return of tax under this chapter and as wages to such employee for purposes ofchapter 24 (relating to withholding of income tax at source on wages).274(e)(2)(B)SPECIFIED INDIVIDUALS. --274(e)(2)(B)(i)IN GENERAL. --In the case of a recipient who is a specified individual,subparagraph (A) and paragraph (9) shall each be applied by substituting "to the extent thatthe expenses do not exceed the amount of the expenses which" for "to the extent that theexpenses".274(e)(2)(B)(ii)SPECIFIED INDIVIDUAL. --For purposes of clause (i), the term "specifiedindividual" means any individual who --274(e)(2)(B)(ii)(l)is subject to the requirements of section 16(a) of the SecuritiesExchange Act of 1934 with respect to the taxpayer or a related party to the taxpayer, or274(e)(2)(B)(ii)(ll)would be subject to such requirements if the taxpayer (or such relatedparty) were an issuer of equity securities referred to in such section.For purposes of this clause, a person is a related party with respect to another person if suchperson bears a relationship to such other person described in section 267(b) or 707(b).274(e)(3) REIMBURSED EXPENSES. --Expenses paid or incurred by the taxpayer, in connectionwith the performance by him of services for another person (whether or not such other person is hisemployer), under a reimbursement or other expense allowance arrangement with such otherperson, but this paragraph shall apply --274(e)(3)(A)where the services are performed for an employer, only if the employer has nottreated such expenses in the manner provided in paragraph (2), or274(e)(3)(B)where the services are performed for a person other than an employer, only if thetaxpayer accounts (to the extent provided by subsection (d)) to such person.274(e)(4) RECREATIONAL, ETC., EXPENSES FOR EMPLOYEES. --Expenses for recreational,social, or similar activities (including facilities therefor) primarily for the benefit of employees (other
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:
Page 232 and 233: PROTECTING PLAN BENEFITS:IMPROVING
Page 267: ADVISORY COMMITTEE ONTAX EXEMPT AND
Page 271 and 272: Tax Treatment Of Cellular Telephone
Page 279 and 280: IRC, 2007-CODE-VOL, SEC. 280F. LIMI
Page 281: PENIRC S 274 Page 1 of 12IIRC, 2007
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?