Federal Tax

This is FindLaw's collection of Federal Tax articles, part of the Finance section of the Corporate Counsel Center. The Federal tax law is administered primarily by the Internal Revenue Service, a bureau of the U.S. Treasury. The U.S. tax code is known as the Internal Revenue Code of 1986 as amended (Title 26 of the U.S. Code). There is a special trial court which hears disputes between the IRS and taxpayers regarding federal income, estate and gift tax underpayments - the U.S. Tax Court. Law articles in this archive are predominantly written by lawyers for a professional audience seeking business solutions to legal issues. Start your free research with FindLaw.

Federal Tax Articles
    • Federal Income Tax Classification of Governmental
      Most governmental entities and political subdivisions are not subject to federal income tax based on the principles of inter-governmental immunity.1 If an entity is separate from (not an "integral part") of the governmental unit, its income is ...

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    • FAQ: Outgoing Investment
      Are there any prohibitions or restrictions imposed by the U.S. government against U.S. persons making investments outside the U.S.? How does the Internal Revenue Code define the term "foreign"? How does the Internal Revenue Code define the term ...

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    • Executive Compensation Tax Issues
      The following is a brief summary of some of the tax laws regarding reasonable compensation, golden parachute payments, and limitations on compensation deductions. Section 162 of the Internal Revenue Code allows a deduction for ordinary and ...

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    • Dischargeability of Income Tax Bankruptcy
      Although having knowledge that taxes are dischargeable in bankruptcy, many attorneys still perceive that the tax collector elbows everyone aside and gets paid. Personal income taxes are dischargeable. Practitioners should know the basic requirements ...

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    • Bylaws Review Is More Than Just Reviewing The Bylaws
      Coordination with the documents of incorporation, state statutes, federal exemptions and organizational visions is mandatory for a complete bylaws review. Any review or rewrite of the bylaws should begin with an examination of the authority to do ...

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    • Basics of Unrelated Business Income Tax: Use of Pass-through and Other Entities by Pension Funds
      The choice of entity is critical in any investment. This decision is more complicated when one of the investors is a qualified plan described in section 401(a). The choice of entity is critical not only for the traditional reasons, such as ...

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    • Annual Cost-Of-Living Adjustments: 1997
      On October 24, 1996, the Internal Revenue Service announced the annual cost-of-living adjustments ("COLAs") for certain limits which affect the administration of tax-qualified retirement plans, including 401(k) plans, and certain other types of ...

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    • Recent Developments Affecting Qualified Retirement Plans
      This update summarizes several recent developments that may affect the administration of 401(k) plans and other qualified retirement plans. Earlier this month, the IRS published a revised model .Special Tax Notice. that is to be provided by the ...

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    • New Dollar Limits for 1999
      On October 23, 1998, the IRS announced the new cost-of-living-adjusted dollar limits that will apply to qualified retirement plans for 1999 plan years. Most 1998 limits are unchanged for 1999. Here are the 1999 limits that apply to most employer ...

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    • Changes in Retirement Plans for 1997
      In 1996 the United States Congress enacted several pieces of legislation impacting the use of retirement plans. The outline below summarizes several of the changes that are effective as of January 1, 1997. INDIVIDUAL RETIREMENT ACCOUNTS (IRAs) ...

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