TIPRATax Increase Prevention and Reconciliation Act of 2005 (Federal Tax Legislation)
References in periodicals archive ?
A new matrix to assist in determining the number of Forms 656, $150 application fee(s) and TIPRA payments to submit to the Service, depending on the number of individuals submitting the offer and the types of liabilities being compromised;
Both the disclosure and penalty rules described above are effective for disclosures, the due date for which is after May 17, 2006, according to TIPRA Section 516(d)(2).
Treasury and the IRS have recently issued proposed guidance that includes safe harbors intended to limit the potential complexity and burden of complying with the TIPRA amendments.
The TIPRA allows the Treasury to issue regulations or other guidance providing for the adjustment of the 30% limit, to reflect geographic differences in housing costs relative to U.
This statutory provision--popularly thought of as enabling tax-flee spinoffs--contains a number of requirements that must be satisfied, and the TIPRA enlarged the list.
The decrease from the previous quarter was primarily due to the effects of the flattening yield curve, a shift in the funding mix as well as a 3 basis point decrease resulting from the TIPRA adjustment.
The Rai clan of the Tipra tribe was located at Boteshwar village in Sylhet district of Bangladesh.
Post- TIPRA implications and planning: With the extension of the kiddie tax to children under 18, the TIPRA further erodes the income tax benefits of asset/income shifting from parents to children.
TIPRA Section 515(b)(1) set the 2006 threshold at 16% of the exclusion amount under Sec.
Grant Thornton LLP's National Tax Office (NTO) has closely followed the development of TIPRA through the legislative process to its enactment; and has created an analysis on several TIPRA provisions and has experts available to further discuss each one.
954(c)(6), enacted by TIPRA Section 103(b), treats dividends, interest, rent and royalties received or accrued from a related CFC to be outside the definition of FPHCI, to the extent attributable or properly allocable to the related person's income that is not subpart F income.