Tax Reform Act of 1976


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Tax Reform Act of 1976

Legislation aimed at tightening provisions relating to taxation, including changes in the capital gains tax laws.

Tax Reform Act of 1976

Legislation in the United States that expanded various tax credits and deductions. Among other provisions, it increased the standard deduction to 16% and created a $175,000 exemption from the estate tax.
References in periodicals archive ?
Congress placed further restrictions on the foreign tax credit in the Tax Reduction Act of 1975 and the Tax Reform Act of 1976.
Staff of the Joint Committee on Taxation, General Explanation of the Tax Reform Act of 1976, 94th Cong.
Before the Tax Reform Act of 1976, there was very little structure to the laws concerning home office deductions.
That represented the first decrease under either income concept since the Tax Reform Act of 1976 required that data be published on individual income tax returns reporting $200,000 or more.
The Ribicoff amendment to the Tax Reform Act of 1976 requires U.
1) Tax Reform Act of 1976, Section 2001 (a)(2) and (4).
These "antiboycott" laws are the 1977 amendments to the Export Administration Act of 1969 and the Ribicoff Amendment to the Tax Reform Act of 1976.
7) In addressing this issue, the Tax Reform Act of 1976 (TRA '76), Section 1042(d)(1), added former Sec.
of Hutchinson(13) discussed the General Explanation of the Tax Reform Act of 1976 and suggested that it should be given weight when supported by other indications of legislative intent.
See also Staff of the Joint Committee on Internal Revenue Taxation, General Explanation of the Tax Reform Act of 1976, 94th Cong.
STP 4, Estate and Gift Tax Reform, was suspended when many of the reform proposals it contained were enacted into the Tax Reform Act of 1976.
The current $200,000 threshold was set by Congress in the Tax Reform Act of 1976.