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Section 61 contains a rare example of intensive redundancy, or emphatic redundancy, in the Internal Revenue Code. That is, the parenthetical phrase "but not limited to" redundantly intensifies the significance of the phrase "all income" and the phrase "from whatever source derived."
Section 409A was enacted, in part, in response to the practice of Enron executives accelerating the payments under their deferred compensation plans in order to access the money before the company went bankrupt, and also in part in response to a history of perceived tax-timing abuse due to limited enforcement of the constructive receipt tax ...
Severance pay in Luxembourg upon termination of a work contract becomes due after five years' service with a single employer, provided the employee is not entitled to an old-age pension and the termination is due to redundancy, unfair dismissal, or covered in a collective labor agreement. [32]
Commissioner v. Glenshaw Glass Co., 348 U.S. 426 (1955), was an important income tax case before the United States Supreme Court.The Court held as follows: Congress, in enacting income taxation statutes that comprehend "gains or profits and income derived from any source whatever," intended to tax all gain except that which was specifically exempted.
The full text of the IRS regulation defining constructive receipt states as follows: [2] Income although not actually reduced to a taxpayer's possession is constructively received by him in the taxable year during which it is credited to his account, set apart for him, or otherwise made available so that he may draw upon it at any time, or so that he could have drawn upon it during the taxable ...
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Lamar Jackson, Baltimore Running Back — Saquon Barkley, Philadelphia Fullback — Patrick Ricard, Baltimore Tight End — Brock Bowers, Las Vegas Wide Receivers — Ja'Marr Chase, Cincinnati ...
The taxation of cooperative corporations in the United States is subject to special rules under subchapter T of the Internal Revenue Code, different from both subchapter C and subchapter S corporations.