Reclassification

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Reclassification

In mutual funds, the act or process of changing one type of fund into another type. For example, one may reclassify a front-load fund to a back-load fund or vice versa. One of the most common types of reclassification occurs when a load fund, after a certain number of years, becomes a no-load fund. This happens because the load generally only exists for a certain number of years. The IRS does not consider reclassification to be a taxable event, even if it results in more income or capital gains.
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If all 2016 revenue reclassifications had occurred on January 1, 2016, GE BPO revenue would have decreased 17% year over year.
If all 2016 revenue reclassifications had occurred on January 1, 2016, total IT revenue would have decreased 7% year over year.
Despite the fact that it took effect in 2000, the Reclassification Rule was not challenged in court until 2013.
(29) The court looked to the language of the statute authorizing hospitals to seek reclassification, as well as the legislative history.
The Railroad Commission can also initiate a reclassification itself, if production data shows a change is appropriate.
Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No.
Typically, institutional investors are restricted to investing in developed and emerging markets, so the reclassification highlights the entry of a new class of investors into the domestic market.
It has done so with help from savvy lobbyist Ozzie Rose, who made a curious transition to lobbyist from his earlier role as a mediator hired last year by Castillo in a futile effort to resolve the reclassification dispute.
* Gross or net of reclassification adjustments, except for the minimum pension liability adjustment which is always shown net of any reclassification adjustment.
Some say the reclassification trend underscores their argument that the tax break is no longer needed to spur more gas drilling.
The reclassification of an asset depreciated under MACRS might not follow the original intent of Regs.
A public entity under audit by the IRS is a taxpayer involved in an employment tax status controversy with the IRS as a result of the IRS's proposed reclassification of workers.