The IRS took the position that the marital trust property subject to the decedent's GPA was not exempt
from GSTT under Regs.
Apparently many Americans don't realize that Congress regularly exempts
itself from major legislation it passes for the rest of the country.
The same provision of the regulations also exempts
"[p]ayments of bills for merchandise, telegrams, .
This merely adds a paragraph that exempts
co-op and condo units but continues the protection for non-purchasing tenants in a non-eviction plan.
The documentation and/or publications provided in connection with the electronically prewritten software do not affect the exempt
transfer of the software; see VA DOT, Pub.
2004-65 through 2004-68, which contain lists of transactions exempt
from the reporting requirements.
expenses incurred under a reimbursement or other expense allowance arrangement.
There is no de minimis rule that exempts
a foreign national from FICA on salary earned from U.S.
501(c)(2), an exemption is granted to a corporation organized for the exclusive purpose of holding title to property and turning over the entire income it collects from the property (less expenses) to an exempt
Many organizations that are exempt
from Title I of the Employee Retirement Income Security Act of 1974 (ERISA), and whose defined benefit and defined contribution plans are exempt
These rules address "earnings stripping" interest payments made to tax-exempt (or partially exempt
) related persons.
Because revocation of exempt
status was such a severe penalty, for several years Treasury Department officials argued in favor of penalty excise taxes (called intermediate sanctions) to improve enforcement of inurement violations.
Investment Interests Payments that represent returns on investments obtained for fair market value in large corporations would be exempt
from the antifraud and abuse prohibition under the proposed safe harbor regulations.
The revenue ruling relates to affiliate borrowings used to fund business operations of a dealer in exempt
Alan Simpson said at a recent Finance Committee hearing that he may offer legislation to restrict the activities of certain organizations exempt