TO QUALIFY FOR HEDGE ACCOUNTING, an entity must demonstrate a hedging relationship to be highly effective in achieving offsetting
changes in fair value or cash flows for the risk being hedged.
28 per cent (and 39 per cent of men) had no intention of offsetting
their carbon footprint in the next year and a further quarter were still undecided five per cent cited a lack of interest in the environment as a reason for not offsetting
, while another five per cent did not see it as their responsibility
First, it constructed a very narrow identified straddle rule, which provided that if a taxpayer acquired offsetting
positions on the same day, identified them as a straddle and disposed of them on the same day, neither position would be subject to the loss deferral rule.
This approach is basically an extension of the current offsetting
of Amounts Related to Certain Contracts, clarifies the circumstances under which amounts recognized for individual contracts may be offset against amounts recognized for other contracts and reported as a net amount on the balance sheet.
As discussed, assuming pro rata income generation throughout the tax year, the rule is intended to prevent loss carryovers acquired by a taxpayer from offsetting
income generated prior to the acquisition.
The proposal, effective for periods ending after December 15, 1991, also would provide an exception to the general principle to permit offsetting
of market value amounts recognized for multiple forwards, swaps and similar contracts executed under master netting arrangements.
In TEI's experience, the offsetting
across types of tax and even particular taxpayers (i.
The company's donation in 2005 garnered GSA's Achievement Award for Real Property Innovation for offsetting
all emissions generated by that year's show.
can effectively save the 1% differential during the period that the underpayment and overpayment overlap.
Section 6402(a) of the Internal Revenue Code provides the basis for offsetting
credits: "[i]n the case of any overpayment, the Secretary, within the applicable period of limitations, may credit the amount of such overpayment, including any interest allowed thereon, against any liability in respect of an internal revenue tax on the part of the person who made the overpayment, and shall .
The company is offsetting
its carbon footprint from business operations by purchasing Renewable Energy Credits and Forest Sequestration Offsets from Green Mountain Energy Company's eMission Solutions division.