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The federal tax code is rumored to be anywhere from 2500 pages to 2.5 million pages. The feds themselves list at about 17 thousand pages, however, that is in a tiny font. With all the different titles and legislation added in, I don't think anyone knows the realistic length of the Internal revenue code.
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Answer Under the existing Internal Revenue Code guidelines, rules and regulations gifts made to anyone, including relatives and friends are not deductible. Howe…ver, the grantor (giver of the gift) might have to pay a gift tax if the gift exceed a certain amount (12,000.00) per individual per year. Gifts are generally not deductible to the grantor, nor are they taxable (reported as part of income) to the recepient or beneficiary. Gifts in general are irrevocable (cannot be taken back by the grantor). Respectfully submitted by: CHR Florida Certified Public Accountant April 1, 2007
Answer I said you should define what is internal revenue in local government administration Answer I said you should define wha…t is internal revenue in local government administration
Here's their website ... look it up: http://www.irs.gov/ Ans Generally, many issues around Regulated Investment Cos, Foreign Tax Credits and the Dividends …from Foreign Regulated Investment Cos.
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It covers the interests of spouses excluded from a gross estate. It states, in the case of any qualified joint interest, the value included in the gross estate with respec…t to such interest by reason of this section is one-half of the value of such qualified joint interest.
A charitable deduction is allowed for a contribution of an income interest in trust (remainder to a noncharity) only if: (1) the donor is taxable on the trust income, an…d (2) the donated income interest is either a "guaranteed annuity" or a "unitrust interest." (Code Sec. 170(f)(2)(B); Reg § 1.170A-6 )
A disqualified person includes the Pastor, or any other paid employee of the church.
Section 7702 of the IRC states that withdrawals from a life insurance contract can be made income tax free.
Hello, I recently purchased one and the money you invest is not tax deductible. It is not taxed if it grows in value or generates revenue, within the annuity. When you do star…t taking money out, it is treated as ordinary taxable income. However you do not pay taxes on the original contribution, just on the gains. This is a simple answer to a complex question-- if you need more details, you need an expert.
Also known as the IRS, it's the government agency that collects federal taxes and oversees the federal tax system.
The United States Code is a collection of hundreds of thousands of pages of Federal regulations. The section of that massive set of books officially blamed on the IRS is calle…d Title 26 and, according to the United States Printing Office, in 2001 it was 16,845 pages long. Depending on which source you trust, it may be as many as 57,000 pages, now.
The Internal Revenue is a government agency that is subject to Title 26 United States Code. The Internal revenue Service is a private debt collection agency subject to Title… 15 of the United States Code and is a private collection agency contracted by the Internal Revenue.
Thats the Tax Id # Employer's Identification Number
While one could visit their local library to learn all there is to know about internal revenue code, the internet is a much more convenient source of information. One powerhou…se site on the internet, becoming more and more reliable each day, is Wikipedia. It is here that one could be reliably informed on internal revenue code.
Section 409A of the Internal Revenue Code regulates the treatment, for federal income tax purposes, of non-qualified deferred compensation paid by a service recipient to a ser…vice provider. Typically these financial transactions involve an employer and employee or contractor.