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  2. Nonrecognition provisions - Wikipedia

    en.wikipedia.org/wiki/Nonrecognition_provisions

    Therefore, the taxpayer will likely incur the same (higher) tax liability that the donor would have paid if they had kept the property for themselves. Alternatively, a more favorable rule to taxpayers would have allowed the taxpayer to take the fair market value at the time of the gift as the basis. This amount would likely be higher.

  3. Internal Revenue Service Restructuring and Reform Act of 1998

    en.wikipedia.org/wiki/Internal_Revenue_Service...

    Of these, 311 were due to employees' failure to file a federal tax return or understatement of their tax liability, and would not have affected taxpayers. [ 7 ] Stephen A. Whitlock implemented the Service's plan for mitigation of penalty under Section 1203 of the Restructuring and Reform Act of 1998 and set up the processes and procedures for ...

  4. Power of acceptance - Wikipedia

    en.wikipedia.org/wiki/Power_of_acceptance

    A bilateral offer can be revoked by the offeror at any time before acceptance. Under the firm offer rule, the fact that the offeror has promised the offeree to keep the offer open for acceptance for a certain period of time does not render such an offer irrevocable.

  5. Recognition (tax) - Wikipedia

    en.wikipedia.org/wiki/Recognition_(tax)

    Recognition is mostly a matter of timing; the issue is not whether income or loss is taken into account, but when. The time of recognition may matter for a number of reasons, including the time value of money and the section 1211(b) limitation on capital losses in a single year.

  6. Option contract - Wikipedia

    en.wikipedia.org/wiki/Option_contract

    The promisor impliedly promises not to revoke the offer and the promisee impliedly promises to furnish complete performance, but as the name suggests, the promisee still retains the "option" of not completing performance. The consideration for this option contract is discussed in comment d of the above cited section.

  7. Disabled Can Use ABLE Account Tax Break for Housing - AOL

    www.aol.com/disabled-able-account-tax-break...

    Disabled Americans face many financial hurdles, and the high cost of medical care may be the biggest. But when the disabled need to access assistance programs in order to pay for that medical care ...

  8. Assignment (law) - Wikipedia

    en.wikipedia.org/wiki/Assignment_(law)

    The assignment can not be revoked if the obligor has already performed; The assignment can not be revoked if the assignee has received a token chose (chose being derived from the French word for "thing", as in a chose of action) - a physical object that signifies a right to collect, such as a stock certificate or the passbook to a savings account.

  9. Americans with Disabilities Act of 1990 - Wikipedia

    en.wikipedia.org/wiki/Americans_with...

    A reasonable accommodation is a change in the way things are typically done that the person needs because of a disability, and can include, among other things, special equipment that allows the person to perform the job, scheduling changes, and changes to the way work assignments are chosen or communicated. [20]

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