Publication 525

Publication 525

A form published by the IRS explaining the various types of income one may earn or receive in a year, and whether or not each type is taxable.
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The AMT basis of the stock is increased by the amount of the adjustment; no AMT adjustment is required if the stock is disposed of in the year of exercise (Taxable and Nontaxable Income, IRS Publication 525, Dec.
Certain other conditions apply when an option is not readily traded on an established market (IRS Publication 525, p.
If there is subsequent recovery of any portion of the loss that has been deducted, it is recovered to the extent that the recovery exceeds the nondeductible portion of the loss up to the total amount of the deduction taken (IRS Publication 525, Taxable and Nontaxable Income 22 (2009)).
Additional exceptions can be found in IRS Publication 525 on Page 17.
These rules, to be known as ICC Publication 525, clarify Article 19 of the recently revised UCP 400 (now 500) regarding reimbursements under letter of credit transactions.
See also IRS Publication 525 for a worksheet which assists the calculation of the amount that must be reported as income.
Relying on IRS Publication 525, "Employment Compensation," the taxpayer argued that the holding period requirement could be fulfilled either by holding the option for two years after its grant or by holding the stock for one year after its acquisition.
The wording of the statute and IRS Publication 525 clearly state this requirement, and it was confirmed by the Tax Court in Svoboda.
In 1992, IRS publication 525, Taxable and Nontaxable Income, took a middle-of-the-road approach, saying that the refund should be multiplied by a fraction: state tax paid (after the 3% reduction) is the numerator and the total state tax paid is the denominator.
However, the IRS announced it would not challenge a taxpayer's treatment of state income tax refunds (or similar recoveries) on income tax returns (including amended returns)filed on or before December 31, 1993, if the taxable portion of the refund is determined in accordance with the method provided by the worksheet on page 18 of publication 525. Also, revenue ruling 79-15 (1979-1 C.B.