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Production of guidance process continues inder section 199: Part 2
Magazine article

Production of guidance process continues inder section 199: Part 2

Thomas J., III Purcell, Robert A. Zarzar and George A. Manousos
Business Entities, Vol.9(1), pp.4-9, 62
01/2007

Abstract

Delegated legislation Tax deductions Tax consultants Taxpayer compliance
The article discusses the analysis of final and temporary regulations under Section 199 in the U.S. The regulations deal with income tax which attributes to domestic product activities. It also examines the content of new guidance and talks about areas that need clarifications and practical suggestions for implementing the complex rules of deduction. Taxpayers and advisors should cooperate as the Internal Revenue Service continue to address the complexity inherent of this deduction.

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