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With respect to dispositions of ISO and ESPP stock, there are issues of administrative feasibility associated with federal income tax withholding, as the IRS recognizes in Notice 2001-14.
However, there are a few situations in which a cleric is more likely to be classified as self-employed rather than as an employee for federal income tax purposes.
Sacks, Intercompany Federal Income Tax Allocation Agreements, 13 Journal of Corporate Taxation 54 (1986), and Crestol, Hennessey & Yates, The Consolidated Tax Return [para.
Although V is an entity disregarded from its owner for Federal income tax purposes, it continues to exist as a juridical entity after the conversion.
Three Months Ended 11/30/95 11/30/94 Net Sales $3,875,864 $3,670,474 Income before federal income tax $ 517,079 $ 345,143 Net income $ 336,703 $ 222,761 Net income per share $ .
Caveat: Individuals who decide not to put any of the money back because they now need to live on it as a result of Hurricane Katrina, will pay Federal income tax and possibly a 10% penalty when they file their 2005 income tax returns.
On July 6, 1998, the IRS determined a deficiency in the Merritts' 1994 joint federal income tax liability, disallowing exclusion of the $129,000 independent contractor lee John later returned.
30, 1994, net sales were $7,263,330, income before federal income tax was $662,710, and net income totaled $429,125, or $.
Nearly all States require taxpayers to report the results of federal income tax examination adjustments to the state taxing authorities.
The Trust is intended to qualify as a "liquidating trust" and as a "grantor trust" for federal income tax purposes.
Taxpayers or their businesses may claim disaster-related casualty losses on their Federal income tax return for either this year (2005 returns) or last year (2004 returns).
This decision clarifies that the deduction for federal income tax is based on the tax accrued on the income a taxpayer reports under its accounting method.

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