13) To imply, as the revenue procedure does, that a revenue ruling or other designating
document that establishes a Designated Category B accounting method is, following a lapse of two years, equivalent to a Supreme Court decision, act of Congress, or even regulations promulgated pursuant to the Administrative Procedures Act constitutes regulatory overreaching.
Some critics believe that designating
a heavily used and abundantly littered beach park as Wilderness undermines the concept and status of more genuine Wilderness Areas elsewhere in the nation.
replacement property, there appear to be three guidelines CPAs can advise taxpayers to follow:
When designating a QTIP trust as an IRA beneficial, the interaction of the Sec.
Designating a QTIP trust as the beneficiary results in an acceleration of the income tax on an IRA asset, because the distribution is in excess of the Sec.
But what about designating a Little Armenia in Glendale?
Though Glendale boasts some 2,500 Armenian businesses and an estimated 45,000 Armenian residents, Babayan said designating a section of town as Little Armenia would be tough and maybe not even necessary.
As a result, there is no ability to reduce payouts by designating
a younger beneficiary once payments have begun.
Even if the partnership does not follow the specific procedures for designating
a TMP, the partnership's designation of a TMP will be respected so long as the designation is communicated to the Service in a timely manner.