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The new law clarifies that, in computing qualified production activities income, the domestic production activities deduction itself is not an allocable deduction.
Clarifies that the representations should be made as of the date of the accountant's review report;
In particular, this Statement clarifies under what circumstances a contract with an initial net investment meets the characteristic of a derivative as discussed in Statement 133.
199-2(e)(1) clarifies that W-2 wages include taxable wages (box 1 of Form W-2), the total amount of elective deferrals (under Sec.
Proposed change clarifies text on the use of option clauses for industrial capability production planning; deletes unnecessary text on determinations for interagency acquisitions under the Economy Act; deletes restrictive requirements relating to the use of master agreements for vessel repair; deletes obsolete procedures for acquisition of bakery and dairy products; lowers the level for approval of profit on undefinitized contract actions for which substantial performance has been completed; and relocates to PGI, guidance on the use of options and procedures for preparation of master agreements and job orders, for breakout and acquisition of spare parts, and for acquisition of work over and above contract requirements.
The statement also clarifies what can qualify as a special purpose entity.
The change clarifies that fidelity and forgery bonds are authorized for use when necessary for protection of the government or the contractor or when the investigative and claims services of a surety company are desired.
73 clarifies that attorneys also may be considered specialists when they are engaged to provide services other than those involving the standard letter of inquiry regarding litigation, claims or assessments.
Preston, BMI president and CEO, said of the agreement, "The NLBA has taken a leadership position and approached us with a workable compromise that both clarifies licensing standards and maintains the original Congressional intent of exempting mom-and-pop retail and food and beverage establishments from copyright responsibility.
Clarifies that competition shall not be sought outside the Federal Supply Schedules