IRS Restructuring and Reform Act of 1998


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IRS Restructuring and Reform Act of 1998

Legislation in the United States that made a number of changes to the Internal Revenue Code. Among other provisions, it lowered the length of time to hold an investment for capital gains treatment from 18 to 12 months. It also mandated a five-year term for the Commissioner of the IRS.
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The IRS Restructuring and Reform Act of 1998 includes a number of positive provisions designed to encourage more tax professionals and taxpayers to utilize electronic filing.
The IRS has issued proposed regulations, in question-and-answer format, offering guidance on the new Roth individual retirement account (IRA), established by the Taxpayer Relief Act of 1997 and modified by the IRS Restructuring and Reform Act of 1998.
Glennie stated, "during a time of great challenge for the IRS, a time when Congress was considering the IRS Restructuring and Reform Act of 1998." Calling him a "businessman and visionary," Mr.
The IRS Restructuring and Reform Act of 1998 created IRC section 7123(b)(2).
Some of the above projects may be pushed back to the 1999 business plan, but the last three items have high priority, under the IRS Restructuring and Reform Act of 1998.
Section 8001 of the IRS Restructuring and Reform Act of 1998 addressed the situation by allowing the IRS to treat the issuer of tax-exempt bonds as the taxpayer for purposes of audit and consideration by Appeals.
Keeping good tax records has always been important, but the IRS Restructuring and Reform Act of 1998 made it even more so.
Employees will be able to reduce employees' salaries to pay for transit passes and van pooling benefits under the IRS Restructuring and Reform Act of 1998 (IRSRRA '98).
* Section 1203 of the IRS Restructuring and Reform Act of 1998 requires the Commissioner of Internal Revenue to terminate an employee for certain specifically enumerated violations committed by the employee in connection with the performance of the employee's official duties.
Having the reputation of an innovative and effective administrator, Oveson expects to play a major role on the management team that will push for modernization and customer service improvements at the IRS in accordance with the provisions of the IRS Restructuring and Reform Act of 1998.
The IRS Restructuring and Reform Act of 1998 (IRSRRA) provides major protection to corporations using commercial tax software.
The IRS Restructuring and Reform Act of 1998 established the Office of the Taxpayer Advocate as an independent entity within the IRS.