Reading some of the commentary you would think that there is some special Code provision for hedge fund managers.
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That the mortgage interest deduction is landlocking individuals at a time when they need to be highly mobile in pursuit of work is yet another reason to abolish a tax-code provision that the property-less must cover.
And the new code makes no provision at all for a donor to set up an asset protection trust for himself--a controversial technique now allowed by six states.
There is no grandfather provision in Code Section 710 so it will affect existing deals.
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This provision in Code Sec. 1411 and the proposed regulations thereunder has catalyzed an abundance of reaction by taxpayers and tax professionals who claim this additional requirement is creates an unnecessary burden for real estate professionals.
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"Bringing in more complication to the tax code, another difficult tax provision for the IRS to administer, and dubious tax policy at best is not the answer, " Zerbe said.
Under current law, while municipalities are permitted the bankruptcy option through Chapter 9 of the U.S. Bankruptcy Code, there is no provision whereby a state can voluntarily opt to put itself into bankruptcy.
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He will probably be charged under a recent terrorism provision in the criminal code that allows a 30-year prison sentence.
Since the mid-1990s Kellogg has used an obscure provision in the tax code to shield hundreds of millions of dollars of investment earnings from taxes.
We massively subsidize health care for wealthy seniors, through Medicare, and for wealthy workers, through a provision of the tax code called the employer tax exclusion.
As enacted, MWP follows the lead of almost every other provision in the tax code and is based on joint earnings in the case of couples.
But as my colleague Ashlea Ebeling explains in a story here in Forbes about smart tax moves for the next two years, an immediate SUV write off is allowed again under a different, even more generous provision of the tax code, good through Dec. 31, 2011.
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They were established under a special provision of the bankruptcy code Congress passed just to deal with the millions of lawsuits filed by people who claim to have been exposed to the substance, which can cause lung disease and a rare cancer of the chest wall lining called mesothelioma.
Subsequently, the company realized that FICA taxes apply to wages but there is no provision in the Internal Revenue Code that treats severance pay as wages.
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The most successful example of this case in recent years is the Low-Income Housing Tax Credit (LIHTC), the 1986 provision to the federal tax code that sparked a revolution in urban redevelopment and resulted in an upsurge of new organizations and activities to promote the development of low-income housing.
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The 50% bonus depreciation provision was put in the tax code as a business gimme in the 2007 stimulus package, effective Jan. 1, 2008 through Dec. 31, 2012 (a repeat of a temporary break Congress used back in 2002).
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Ministers want more pupils with special needs to enter mainstream education, and the Education Department says the proposed code would allow more flexibility to tailor-make provision to suit individual children's needs.
This is all part of a new tax provision (section 409A of the Internal Revenue Code) that was passed in late 2004 as part of the American Job Creations Act.
The other break involves a special provision for small business known by the section of the tax code where it's found: Section 179.
Meister said the council's revised marketing and advertising code now has sections to shield youngsters from the ads, including a provision not to use images, objects and cartoons popular with children.
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The foreign-components provision in 9-9-9 would thereby harness the tax code for the dubious purpose of promoting inefficiency.
One example is changes to the criminal code, hastily passed in the run-up to the Duma election, that cut out a provision allowing the confiscation of stolen property.
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