TEFRA


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TEFRA

Tax Equity And Fiscal Responsibility Act of 1982

Legislation in the United States, passed in 1982, that rolled back some of the tax cuts the federal government enacted the previous year. It repealed accelerated depreciation deductions and created a 10% withholding tax on all dividends sent to accounts without tax identification numbers. It also increased the unemployment tax. While TEFRA raised taxes, they remained well below what they were prior to Ronald Reagan's accession to the presidency. See also: Reaganomics.
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Public officials estimate that 1,600 of the 4,000 children that would have benefited from TEFRA in the coming year will be served through these two programs.
As a first step, it must be noted that the applicable statute is TEFRA as modified by the DRA of 1984 since X's return is due after 12/31/82 but before 1/1/87.
Under TEFRA, a partnership submitting an AAR does so by filing either Form 1065X.
The TEFRA program enjoyed a certain level of success in its earliest years.
i,t1] variables into the TEFRA and PPS periods, quarters 12 through 28.
The IRS determined that a general partner (GP) or, in the case of an LLC, a member-manager, may sign a POA for purposes of a TEFRA partnership-level examination or for other tax purposes of the partnership.
The TEFRA option for children with disabilities is also known as the Katie Becket Option, named after the child whose situation prompted the change in Medicaid coverage.
The topics will range from the use of statistical sampling by the States to Canada's general anti-avoidance rules, to data mining, to the FSC/ETI controversy, to TEFRA audits, transfer pricing, and the aforementioned R&D and tax shelter rules.
However, Thomas Louthan, director of the IRS's Office of International, TEFRA & Dispute Resolution Programs, has been quoted as saying that "[i]f, even as early as six months, the program is deemed a decided success, the IRS might make the decision then to expand it .
TEFRA provides coverage for children deemed diagnostically eligible (as established by SSI definition), but who would be financially ineligible for SSI due to parental income.
The restaurant and hospitality industry has some unique payroll challenges, including TEFRA and tip reporting, as well as the benefit of the FICA tip credit," said Richard S.