Treasury and the Service had issued proposed regulations
(REG-128767-04, 8/12/04) under Sec.
Auditing firms will likely inquire into whether a corporation has contemporaneous documentation to support its intercompany transactions, especially in light of the new regulations
Both Section 987 and the 1991 proposed regulations
require the taxable income or loss of a Section 987 QBU be computed in its functional currency and then translated at the average exchange rate (generally, an average of the daily exchange rates) into the functional currency of its owner.
His letter to colleagues may ring eerily familiar to those who attend today's quarterly meetings of the NMC, stating that the "increase in the number of state departments, each established under different laws and adopting different forms, rules, and regulations
, has naturally tended rapidly to increase the labors and consequent expenses of insurance companies.
Each is governed by a different set of regulations
tailored to meet regional needs.
As noted, the Framework would form the basis upon which the Agencies develop proposed revisions to their existing risk-based capital adequacy regulations
The final regulations
provide the procedures and requirements for making the election; rules regarding the tax treatment of the trust and estate while the election is in effect; and rules regarding termination of the election.
The taxpayer's main argument was that the self-rent rule in Treasury regulations
Flowcharts, together with explanatory notes, are being posted to the AICPA's Web site to assist you in determining if some or all of these regulations
are likely to apply to you.
These states may simply adopt the federal scheme in its entirety, either by copying the federal laws on the subject, or by passing a law adopting the federal regulations
by reference (e.
In writing regulations
for assisted living, each state must address how to place "restrictions" or limitations on an entity that is defined by its creativity and its flexibility, to tailor a model based on residents' needs.
apply to sales and leases of all housing constructed before 1978, except for housing for the elderly or the disabled and 0-bedroom dwellings.
Now the small business lobby--with 600,000 members--has a new target: federal regulations
According to the regulations
, the exception would not extend to a laboratory that is shared by several physicians who are independent practitioners and who are not members of a group.
When these regulations
are fully implemented, EPA estimates that the cost to industry will be nearly $1 billion a year.