Allow

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TO ALLOW, practice. To approve; to grant; as to allow a writ of error, is to approve of it, to grant it. Vide Allocatur. To allow an amount is to admit or approve of it.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.

References in periodicals archive ?

1396(a) empowerment zone credit is allowed for portions of the wages of qualified employees.

Employment-related credits

If (1) the taxpayer contests an asserted liability, 2) the taxpayer transfers money or other property to provide for the satisfaction of the asserted liability, (3) the contest with respect to the asserted liability exists after the time of the transfer, and 4) but for the fact the asserted liability is contested, a deduction would be allowed for the tax year of the transfer (or an earlier tax year) subject to certain exceptions, the deduction will be allowed for the tax year of the transfer.

Contested liabilities - when is a deduction allowed?

A corporation that owns less than 20% of either the voting power or the value of a dividend-paying corporation receives a 70% DRD for regular tax purposes.(7) Seventy percent DRDs always follow the general rule and are never allowed for ACE purposes.(8) Example 1 considers the cost of the disallowed DRD if the investor firm is subject to the AMT and receives a dividend from a less-than-20%-owned-corporation.

Dividends and the ACE adjustment: how to maximize the after-tax return on intercompany investments

465 in previous tax years to be allowed for the year of disposition.

Treatment of S losses suspended under basis and/or at-risk rules when shareholder disposes of corporation's stock

58(b)(2), T has an AMT adjustment of $60,000 for the phase-in allowed for regular tax purposes under Sec.