establishing their own work schedules and routines, and reporting only the job comple- tion to the operator are not the operator's employees but are engaged in a trade or business. Rev. Rul. 70-662 distinguished. §1.1402(c)-1. (Secs. 1402, 3121, 3306, 3401; '54 Code.)
Rev. Rul. 75-15, 1975-2 I.R.B. 8.
Returns; separate statement to support exclusion.
Employees must submit a statement showing the computation of excludable sick pay on their individual income tax returns even though the amount is shown separately on Form W-2. Conditions are given under which an employer may show separately on Form W-2 excludable sick pay paid after 1974. Rev. Proc. 56-17 superseded and Rev. Proc. 73-19 obsoleted. §1.105-4. (Sec. 601.401, S.P.R.; Secs. 105, 3401, '54 Code.) Rev. Proc. 75-7, 1975-5 I.R.B. 28.
Sources of income (See: Income source)
(See: Redemption of stock and bonds)
Sales or exchanges (See: Sales or exchanges)
Injunction prohibiting assessment and collection; withholding.
A court may not enjoin the Revenue Ser- vice from enforcing the withholding provi- sions of section 3402 of the Code against an employer, a religious corporation, that in re- sponse to the employees' request ceased withholding from the employees' salaries a
Examples are provided for the computa- tion of the 9 percent interest rate on under- payments and overpayments of tax, effec- tive on July 1, 1975, under the provisions of section 6621 of the Code as added by Pub. L. 93-625. §§301.6332-1, 301.6601-1, 301.6602-1, 301.6611-1, 301.7426-1. (Secs. 6332, 6601, 6602, 6611, 6621, 7426; '54 Code.)
Rev. Rul. 75-58, 1975-8 I.R.B. 24.
National Institutes of Health fellowship.
A U.S. nonresident alien Japanese scien- tist granted a fellowship to perform research at the National Institutes of Health, which do not maintain a regular faculty or estab- lished curriculum, have no organized stu- dent body, and do not have student educa- tion as their primary purpose, is not exempt from U.S. income tax by reason of Article 19 of the U.S.-Japan Income Tax Conven- tion.
Rev. Rul. 75-10, 1975-1 I.R.B. 22.
Netherlands Antilles corporation member of U.S. partnership.
A foreign corporation formed under the laws of the Netherlands Antilles for the pur- pose of investing foreign capital in major commercial real estate projects in the U.S. through a limited U.S. partnership of which it is a limited partner is considered to be engaged in the business of the partnership and the distributive share of partnership in- come is taxable to it under section 882 of the
State income tax; husband and wife; joint returns.
State income taxes imposed upon a mar- ried taxpayer and paid during the taxable year are deductible on a joint Federal return regardless of which spouse actually paid the taxes. Rev. Rul. 74-486 clarified. §1.164-1. (Sec. 164, '54 Code.)
Rev. Rul. 75-47, 1975-7 I.R.B. 9.
462.180 Unemployment compensation disability benefits fund and private plan wage deductions.
Contributions made by employers and employees to the New Jersey unemploy- ment compensation fund, and by employers to the State disability benefits fund, are de- ductible as taxes under section 164(a) of the Code. Amounts withheld from employees' wages for contribution to the State disability benefits fund or a substitute private plan are neither taxes under section 164(a) nor medi- cal expenses under section 213, but are non- deductible personal expenses. I.T. 3970 su- perseded. §§1.164-1, 1.213-1, 1.262-1. (Secs. 164, 213, 262; '54 Code.)
Rev. Rul. 75-48, 1975-7 I.R.B. 9.
Foreign Foreign countries
(See: Foreign tax credit)
Tax-exempt organizations
(See: Exempt organizations)
Tax-free exchanges
(See: Reorganizations)
Trade or business (See: Self-employment tax)
Code and is not subject to U.S. withholding Traveling expenses
under section 1442. Further, pursuant to Ar- ticle XII of the U.S.-Netherlands Conven- tion as extended to the Netherlands Antil- les, dividends and interest paid by the cor- poration are not subject to U.S. tax unless the recipient is a citizen, resident, or corpo- ration of the U.S. §§1.864-4, 1.875-1, 1.881- 1, 1.882-1, 1.1441-1, 1.1442-1. (Secs. 864, 875, 881, 882, 1441, 1442; '54 Code.) Rev. Rul. 75-23, 1975-3 I.R.B. 33.
Mileage rate; automobiles; employees and self-employed.
For taxable years beginning after 1973, an employee or self-employed person whose automobile has been fully depreciated under the straight-line method may compute the allowable deduction for business use of his
through a limited U.S. Partnership of which it is a limited partner is considered to be engaged in the business of the partnership and the distributive share of partnership in- come is taxable to it under section 882 of the Code and is not subject to U.S. withholding under section 1442. Further, pursuant to Ar- ticle XII of the U.S.-Netherlands Conven- tion as extended to the Netherlands Antil- les, dividends and interest paid by the cor- poration are not subject to U.S. tax unless the recipient is a citizen, resident, or corpo- ration of the U.S. §§1.864-4, 1.875-1, 1.881- 1, 1.882-1, 1.1441-1, 1.1442-1. (Secs. 864, 875, 881, 882, 1441, 1442; '54 Code.) Rev. Rul. 75-23, 1975-3 I.R.B. 33.
Amortization, pollution control facilities, Fellowships
extension. (Sec. 169, '54 Code.) §3, Pub. L.
Carryover, acquiring corporations, limita- tions. §§1.383-1, 1.383-2, 1.383-3. T.D. 7343, 1975-8 I.R.B. 13.
Controlled foreign corporations, tier cor- porations. §§1.959-3, 1.960-1, 1.960-2, 1.963- 3. T.D. 7334, 1975-4 I.R.B. 13.
(See also specific subject headings) Recognition
Appreciated property, transfers to political organizations. (Sec. 84, '54 Code.) §13, Pub. L. 93-625, 1975-10 I.R.B. 15.
Combat pay, Pueblo crew detained by North Korea. (Sec. 112, '54 Code.) §7, Pub. L. 93-597, 1975-9 I.R.B. 15.
Illegal payments
Regulations
Government officials and employees. §§1.162-1, 1.162-18, 1.162-21, 1.212-1, 1.471- 3. T.D. 7345, 1975-13 I.R.B. 10.
Within or without U.S., interest on deposits in U.S. financial institutions. (Sec. 861, '54 Code.) §§8, 9, Pub. L. 93-625, 1975-10 I.R.B.
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