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* If you pay more than face value to buy taxable bonds, you can choose to amortize the premium.
The election to amortize applies to all taxable bonds that are owned at the beginning of the first year to which the election applies and all bonds acquired thereafter, and may be revoked only with the consent of the Service.
Accordingly, D can amortize the agreement over its five-year life.
If the benefits of the asset will continue indefinitely, it has an indefinite useful life and the company should not amortize it.
Although FASB says they took a practical approach, another practical approach would have been to defer and to amortize the bargain purchase.
No other guidance: Other than the two examples described above, the regulations do not provide detailed guidance for determining how to amortize debt issuance costs using a constant yield method.
If the package design asset developed (or modified) with the package design cost has an ascertainable useful life extending beyond the end of the tax year in which the costs are incurred, the taxpayer may amortize the costs ratably over that useful life, beginning with the month the design is placed in service.
The appeals court quickly dismissed the Tax Court's consideration of how the lenders booked the warrants and the taxpayer's failure to amortize the amount as immaterial.
vindicated, however, if taxpayers were permitted to amortize the amount
The IRS rejected the deduction, saying the company had to capitalize the payment and amortize it over the life of the new lease.
Amortization of the transition obligation will vary by the average remaining service period used to amortize the obligation.
11 (2003), the Tax Court ruled that a corporation could amortize fees its acquirer-parent incurred to finance the acquisition, even though the corporation paid the fees.
The only issue is whether Y must amortize the covenant under Sec.
A cursory review of more than 150 public company financial statements that disclose information on start-up costs reveals that almost two-thirds capitalize and amortize some start-up costs while the rest expense all start-up costs as incurred.
The FSA also concluded that the bond's maturity date was the remarketing date; thus, the taxpayer should amortize the bond-issuance premium under Regs.
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