Non-Trade and Non-Business Expense Deductions: Section 23(a) (2) of the Internal Revenue Code

1948 ◽  
Vol 46 (8) ◽  
pp. 1015
Author(s):  
R. W. Nahstoll
Keyword(s):  
Internal Revenue ◽  
Business Expense

THE AIA'S SPECIAL BULLETIN SERIES AND ITS EARLY GUIDANCE ON TAX ISSUES RELATED TO DEPRECIATION, 1920–1929

2013 ◽  
Vol 40 (1) ◽  
pp. 51-77 ◽  
Author(s):  
Teresa Kay Lang ◽  
Jan Richard Heier
Keyword(s):  
American Institute ◽  
Final State ◽  
Internal Revenue ◽  
Tax Preparer ◽  
Wear And Tear ◽  
Tax Preparers ◽  
Business Expense ◽  
The U.S

ABSTRACT When the final state ratified the 16th Amendment to the U.S. Constitution in 1913, levying taxes directly on individual incomes became a reality and opened up expanded taxation on businesses. For example, the supporting legislation allowed for the deduction of wear and tear on equipment as a business expense based on the service lives. Unfortunately for the tax preparer, there was no clear meaning of wear and tear and the interpretation of the of service lives in the legislation. With little or no guidance to CPA tax preparers and their clients, it was inevitable that Bureau of Internal Revenue examiners would question returns with such deductions. To help its members to understand better, the new law and the ever-increasing complexity of accounting issues related to it, the American Institute of Accountants began to publish the Special Bulletin Series in January 1920. Many of the answers present in the Bulletins between 1920 and 1929 solved accounting and tax problems in ways still used nearly a century later.

Tax Practitioner Credentials and the Incidence of IRS Audit Adjustments

2003 ◽  
Vol 17 (1) ◽  
pp. 1-14 ◽  
Author(s):  
Peggy A. Hite ◽  
John Hasseldine
Keyword(s):  
Random Selection ◽  
Internal Revenue Service ◽  
Internal Revenue ◽  
Tax Returns ◽  
Selection Of

This study analyzes a random selection of Internal Revenue Service (IRS) office audits from October 1997 to July 1998, the type of audit that concerns most taxpayers. Taxpayers engage paid preparers in order to avoid this type of audit and to avoid any resulting tax adjustments. The study examines whether there are more audit adjustments and penalty assessments on tax returns with paid-preparer assistance than on tax returns without paid-preparer assistance. By comparing the frequency of adjustments on IRS office audits, the study finds that there are significantly fewer tax adjustments on paid-preparer returns than on self-prepared returns. Moreover, CPA-prepared returns resulted in fewer audit adjustments than non CPA-prepared returns.

The Internal Revenue Code and Religious Institutions

2017 ◽  
Author(s):  
Edward A. Zelinsky
Keyword(s):  
Social Security ◽  
Income Tax ◽  
Income Taxes ◽  
Religious Institutions ◽  
Retirement Plans ◽  
Payroll Taxes ◽  
Internal Revenue ◽  
Tax Exempt ◽  
Unrelated Business

This chapter examines the Internal Revenue Code’s treatment of religious entities. The federal tax statute embodies three diverse approaches to taxing and exempting sectarian organizations and activities. Some provisions of the Code—the charitable deduction, the general income tax exemption for eleemosynary institutions, the federal unemployment tax—exempt religious entities and other charitable, educational, and philanthropic institutions. Other provisions of the Code narrowly target churches for tax exemption. For example, the Code relieves churches of filing requirements with which nonchurch religious entities and other eleemosynary organizations must comply. Similarly, churches’ retirement plans receive lenient treatment under the Code. Churches receive procedural protections from IRS audits.Yet other provisions of the Code tax churches as for secular entities. Churches generally pay FICA taxes—Social Security and Medicare payroll taxes—on the compensation paid to nonclerical employees. These payroll taxes can be considerable. Churches also pay federal income taxes on their unrelated business incomes.

The Effects of Capital Campaigns on Local Nonprofit Ecologies

2018 ◽  
Vol 47 (3) ◽  
pp. 645-656 ◽  
Author(s):  
Joanna Woronkowicz
Keyword(s):  
Nonprofit Organizations ◽  
Internal Revenue Service ◽  
Arts Organizations ◽  
Natural Distribution ◽  
Capital Campaign ◽  
Internal Revenue ◽  
Capital Campaigns ◽  
Short Period ◽  
Distribution Of Resources ◽  
Nonprofit Arts

When charities launch capital campaigns, they hope to attract large amounts of resources in a relatively short period of time; however, other charities in the area are likely to see such campaigns as disruptive to the natural distribution of resources to area nonprofits by disproportionately directing area donations to a single organization. This study seeks to understand the effects capital campaigns have on both the fundraising performance of other nonprofits and the makeup of a local nonprofit ecology. The analysis uses data from a randomly sampled set of nonprofit arts organizations that had capital campaigns for facilities projects between 1994 and 2007 and Internal Revenue Service Form 990 data on 501 (c) (3) nonprofit organizations in each county. The results illustrate that a capital campaign positively affects the fundraising performance of other charities in a local nonprofit ecology, but that campaigns decrease the size of a local nonprofit ecology.

Coping with internal revenue code section 89

1988 ◽  
Vol 15 (4) ◽  
pp. 301-304
Author(s):  
Ginger C. Reed
Keyword(s):  
Internal Revenue
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