IRC section 71(b)(1)(B) permits nonalimony treatment if the divorce agreement designates the payments as not includable in income under section 71(a) and not allowable as a deduction under IRC section 215.
* FOR ALIMONY TO BE TAX DEDUCTIBLE, payments must be made in cash under a divorce or written separation instrument, the spouses must reside in separate households, the payor's liability must end with the payee's death, the payor and payee must file separate returns and the divorce or separation instrument can't designate nonalimony treatment.
The court found additional support in the offering plan and the by-laws of the condominium association, which provided that the sponsor could designate
the board managers who would be in control of the condominium for the first two years or until 51 percent of the condominium units were sold.
xx), "Mary" RR-designates Alice (as well as Mary) in W, but designates
Mary and not Alice in W.
Once the taxpayer defers the gain and designates and acquires qualifying property, the IRS allows no wiggle room.
What if a taxpayer quickly reverses its failure to designate property and there are extenuating circumstances?
Either the individual providing the services is designated (by name or other description) in the contract (or someone other than the corporation has the right to so designate
A taxpayer shall be deemed to satisfy the requirement of paragraph (e)(12)(i)(A) if the taxpayer, at the time of the contribution, both designates
the charitable contribution for use solely in the United States and has no reason to believe that the contribution will not be so used.
In the absence of a general partner, the partnership cannot designate its accountant as the TMP if the accountant owns no capital or profits interest in the partnership.
Second, the general partners owning a majority interest in the partnership may designate the TMP by sending a signed statement to the service center with which the partnership return was filed.
Ambassador-designate of Pakistan to Portugal Shah Mohammad Jamal and Ambassador designate
of Pakistan to Ireland Shuja Alam called on him here at Aiwan-e-Sadr, Islamabad on Friday.
Under the Wilderness Act of 1964, Congress has the ultimate authority to designate
areas as federal Wilderness.