The final
regulations provide the procedures and requirements for making the election; rules regarding the tax treatment of the trust and estate while the election is in effect; and rules regarding termination of the election.
Regulations section 1.469-2 (f)(6) reclassifies as ordinary any net rental income from a lease of property to an activity in which the taxpayer materially participates.
In actuality, every other source of law - statute,
regulation, court case, or other - depends upon the Constitution's authorization and can only exist and operate insofar as it complies with the strictures of the Constitution and its attendant body of interpretive case law.
Many states have recently revised their assisted living
regulations in an attempt to keep pace with the growth of the industry and the changing needs of the residents it serves.
While the Becks have no complaint with the light-rail system per se, they find the accompanying
regulations needlessly stringent.
The
regulations apply to sales and leases of all housing constructed before 1978, except for housing for the elderly or the disabled and 0-bedroom dwellings.
These final
regulations specifically address clinical laboratory services.
Now the small business lobby--with 600,000 members--has a new target: federal
regulations. They've asked for a freeze in all new rules, and they are likely to get it.
When these
regulations are fully implemented, EPA estimates that the cost to industry will be nearly $1 billion a year.
The final
regulations adopted proposed
regulations issued in 20035 without modification.
On behalf of Tax Executives Institute, I am writing to recommend that the effective date of the revised section 482
regulations, relating to the treatment of services and the allocation of income and deductions from intangibles, be delayed from January 1, 2007, to at least January 1, 2008.
Ranson, of Whitman, Ransom, Coulson & Goetz, corporation lawyers of New York City, argued, "Today it often seems that the primary task of the managers of an enterprise must be to conduct and record its transactions so as to comply with a multitude of complex requirements and
regulations, imposed by all manner of public authority; then, if any time or energies are left, for production and selling, the enterprise is fortunate."