IRS invites comments on clarifying the effect of INDOPCO on current deductibility
Article Abstract:
The IRS is requesting comments from practitioners and the public regarding the uncertainty triggered by INDOPCO, Inc. v. Commissioner. Since that 1992 US Supreme Court ruling, the IRS has reaffirmed that advertising expenses, severance payments and incidental repair expenses are still currently deductible. Criticism of INDOPCO has focused on the uncertain level of future benefit that would require an expense to be capitalized instead of being deducted in the current year.
Publication Name: Journal of Corporate Taxation
Subject: Law
ISSN: 0094-0593
Year: 1996
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IRS rules that current deductibility of training costs not affected by INDOPCO
Article Abstract:
IRS Rev. Rul. 96-62 said that training costs can be deducted currently, and thus are not required to be capitalized according to the US Supreme Court's controversial INDOPCO decision. This revenue ruling also clarifies IRS views on INDOPCO's applicability to other types of related situations.
Publication Name: Journal of Corporate Taxation
Subject: Law
ISSN: 0094-0593
Year: 1998
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IRS rules that severence pay remains currently deductible after INDOPCO
Article Abstract:
The author discusses IRS revenue ruling 94-77 in which it considered the tax deductibility of severance pay.
Publication Name: Journal of Corporate Taxation
Subject: Law
ISSN: 0094-0593
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
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