274(n) (2)(B) excepts from this limitation meals that qualify as a de minimis
fringe benefit under Sec.
Implementing this executive order would have a de minimis
impact on mandatory and discretionary obligations and outlays, as well as on revenues to the Federal Government, in the 5-fiscal year period beginning in fiscal year 2017.
21) The Commission noted that the entertainment, amusement, and recreation were not a de minimis
component of the School's dance lessons and ruled that the School was liable for $23,984.
According to the company, Dahle's share sale was made under the de minimis
exception and was conducted to finance personal obligations.
According to Faeldon, 'purchases of 200 cigarettes or 50 cigars and two liters of wine or one liter of spirits brought in by passengers shall not be subject to duty or tax, provided that these products fall within the de minimis
But let's back up a step and start with the de minimis
standard in all its glory:
The notice also reminds taxpayers that the de minimis
rule doesn't prevent a taxpayer from properly deducting as repairs larger amounts that qualify as repairs and maintenance.
That said, the $8 billion de minimis
threshold was always intended to be temporary.
Audit Protection: For tax years beginning before 2016, the IRS generally will not raise upon examination the issue of whether a taxpayer without an AFS can use the $2,500 de minimis
So, for now, the safe harbors and de minimis
rules can be counted on to provide additional expensing options.
If the de minimis
facilities are excluded as proposed by INGAA, there will be approximately 3,100 blowdowns for the 183 companies.
Against this backdrop, this article considers the application of what may be one of the earliest examples of risk-based regulation--the ancient common law maxim de minimis
non curat lex ("the law does not concern itself with trifling matters").