Tax

Tag: GE

  • Generally Accepted Accounting Principles

    About Generally Accepted Accounting Principles: Generally Accepted Accounting Principles (GAAP) are conventions, rules, and procedures that define accepted accounting practice, including broad guidelines as well as detailed procedures. Tax law frequently requires different treatment for an […]

  • General Partner

    General Partner means, in a partnership, a partner whose liability is not limited. All partners in an ordinary partnership are general partners. A limited partnership must have at least one general partner and at least one limited partner. As a general rule, partners include on their personal […]

  • General Information

    General Tax Information Tax Research Resources Tax Research Resources General Information Tax Rate Schedules Amended Returns Backup Withholding Checklist of Common Errors When Preparing Your Tax Return Common Tax Scams Coverdell Education Savings Accounts Disclosure Authorizations Extensions of Time to File Your Tax Return Frequently Asked Tax Questions Highlights of Tax Changes Penalty for Underpayment…

  • General Counsel Memoranda

    General Counsel Memoranda General Counsel Memoranda are documents prepared by the Office of the Chief Counsel that “contain the reasons behind the adoption of revenue rulings, private letter rulings, and technical advice memoranda” and have “important precedential value in determining future tax questions.” Taxation With Representation Fund v. IRS, 485 F.Supp. 263 at 266 (D.D.C.…

  • General Depreciation System

    About General Depreciation System: General Depreciation System (GDS) is the main system for depreciation under the modified accelerated cost recovery system. GDS permits the use of the declining- balance method over a shorter recovery period than the alternative depreciation system. See <a href="htt…

  • General Business Credit

    General Business Credit means:a combination of the alcohol fuels credit, disabled access credit, enhanced oil recovery credit, investment tax credit, low-income housing credit, research and experimental credit, and targeted jobs credit. Former IRC (check <a href="http://lawi.us/internal-revenue-…

  • Geothermal Deposit

    Geothermal Deposit means:a geothermal reservoir consisting of natural heat stored in rocks or in an aqueous liquid or vapor (whether or not under pressure) a geothermal deposit is subject to 15% percentage depletion method….

  • General Utilities Doctrine

    General Utilities Doctrine means:a nonrecognition concept providing that a corporate distribution of property to the shareholders produced neither a gain nor a loss to the distributing corporation. The shareholders were taxed on the gain. This concept was eroded after its introduction in a 1935 …

  • General Power of Appointment

    General Power of Appointment means:a power under which the holders of a property have the right to dispose of it in favor of (1) themselves, (2) their estate, (3) their creditors, or (4) the creditors of their estate. A trust grantor is treated as the owner and is therefore taxed on trust income…

  • Generation-skipping Trust

    Generation-skipping Trust means:a trust through which a person passes property to someone at least two generations younger, with some control or benefits of the property going first to a member of the in-between generation….