Articles Tagged: IRC §280

IRC §280G. Golden parachute payments

Table of ContentsPREVNEXT (a) General rule No deduction shall be allowed under this chapter for any excess parachute payment. (b) Excess parachute payment For purposes of this section— (1) In general The term “excess parachute payment” means an amount equal to the excess of any parachute payment over the portion of the base amount allocated… Read more →

IRC §280B. Demolition of structures

Table of ContentsPREVNEXT In the case of the demolition of any structure— (1) no deduction otherwise allowable under this chapter shall be allowed to the owner or lessee of such structure for— (A) any amount expended for such demolition, or (B) any loss sustained on account of such demolition; and (2) amounts described in paragraph… Read more →

IRC §280C. Certain expenses for which credits are allowable

Table of ContentsPREVNEXT (a) Rule for employment credits No deduction shall be allowed for that portion of the wages or salaries paid or incurred for the taxable year which is equal to the sum of the credits determined for the taxable year under sections 45A(a), 45P(a), (a), and 1 1396(a), 1400P(b), and 1400R. In the case… Read more →

IRC [§280D. Repealed. Pub. L. 100–418, title I, §1941(b)(4)(A), Aug. 23, 1988, 102 Stat. 1324]

Table of ContentsPREVNEXT Section, added Pub. L. 96–499, title XI, §1131(d)(1), Dec. 5, 1980, 94 Stat. 2693, related to portion of chapter 45 windfall profit tax on domestic crude oil for which credit or refund was allowable under section 6429. Effective Date of Repeal Repeal applicable to crude oil removed from the premises on or… Read more →

IRC §280F. Limitation on depreciation for luxury automobiles; limitation where certain property used for personal purposes

Table of ContentsPREVNEXT (a) Limitation on amount of depreciation for luxury automobiles (1) Depreciation (A) Limitation The amount of the depreciation deduction for any taxable year for any passenger automobile shall not exceed— (i) $2,560 for the 1st taxable year in the recovery period, (ii) $4,100 for the 2nd taxable year in the recovery period,… Read more →

IRC §280H. Limitation on certain amounts paid to employee-owners by personal service corporations electing alternative taxable years

Table of ContentsPREVNEXT (a) General rule If— (1) an election by a personal service corporation under section 444 is in effect for a taxable year, and (2) such corporation does not meet the minimum distribution requirements of subsection (c) for such taxable year, then the deduction otherwise allowed under this chapter for applicable amounts paid… Read more →

IRC §280A. Disallowance of certain expenses in connection with business use of home, rental of vacation homes, etc.

Table of ContentsPREVNEXT (a) General rule Except as otherwise provided in this section, in the case of a taxpayer who is an individual or an S corporation, no deduction otherwise allowable under this chapter shall be allowed with respect to the use of a dwelling unit which is used by the taxpayer during the taxable… Read more →

IRC [§280. Repealed. Pub. L. 99– 4, title VIII, §803(b)(2)(A), Oct. 22, 1986, 100 Stat. 2355]

Table of ContentsPREVNEXT Section, added Pub. L. 94–455, title II, §210(a), Oct. 4, 1976, 90 Stat. 1544; amended Pub. L. 95–600, title VII, §701(m)(2), Nov. 6, 1978, 92 Stat. 2907; Pub. L. 97–354, §5(a)(25), Oct. 19, 1982, 96 Stat. 1694, related to certain expenditures incurred in the production of films, books, records, or similar property.… Read more →