Safe Harbor Rule


Also found in: Medical.

Safe Harbor Rule

An IRS rule protecting taxpayers from losing favorable tax treatment as long as their actions are taken in good faith.
References in periodicals archive ?
The agency should address this issue by using the statistical based approach with increased population caps to create a safe harbor rule, while also permitting credit unions to alternatively employ a de novo narrative approach completely independent of the restrictions and limitations inherent in the statistical approach with population caps to articulate a well-defined local community," McWatters said.
19, 2015 /PRNewswire-USNewswire/ -- The Retail Industry Leaders Association (RILA) today welcomed a safe harbor rule from the Internal Revenue Service (IRS) regarding the deduction and capitalization of expenditures related to store remodels, repairs, and refreshes.
The temporary regulations establish a safe harbor rule under which allocations of foreign tax expenditures will be deemed in accordance with each partner's interests in the partnership.
Some employers believe the 15 business-day provision is a safe harbor rule on such transmittals, and that they have until the 15th business day after the month in which the amounts were withheld from the paychecks.
I, too, have thrown my two cents in, suggesting that the new safe harbor rule be modeled after the "business judgment rule" of state corporate law that protects most good-faith business judgments from judicial second-guessing.
Statements contained in this communication not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995.
The government agreed and modified the safe harbor rule to provide that the holding period for purposes of the land safe harbor generally begins on the date the taxpayer acquires title to the land, unless the purchase price under the option agreement does not approximate the fair market value of the land.
221-1(e)(3)(ii) provides that a reasonable period is determined on the basis of doe relevant facts and circumstances; a safe harbor rule provides two ways in which expenses can be deemed paid within a reasonable time.
Moreover, a special safe harbor rule for valuing flights on the corporate aircraft for security concerns permits the employer to value any personal flights at a rate that is generally more favorable than the rate provided under the rules used by companies to value flights on noncommercial aircraft.
Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule under the Private Securities Litigation Reform Act of 1995.
transferor will effectively have lost those liquid assets for purpose of the safe harbor rule.
The ruling also sets forth a special safe harbor rule for determining whether the right to make a rollover contribution is offered on a uniform basis.