section 1278 b election - EAS

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  1. In lieu of including accrued market discount in income as required by § 1276 (a), ataxpayer may elect to include accrued market discount in income currently. Section 1278(b). This election applies to all market discount bonds acquired by the taxpayer on or after the first dayof the first taxable year to which the election applies.

    INTERNAL REVENUE SERVICE 1278.02-00 CC:DOM:FI&P: 1 - IRS tax forms

    www.irs.gov/pub/irs-wd/9915043.pdf
    www.irs.gov/pub/irs-wd/9915043.pdf
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    What does 1278 (B) mean?Section 1278(b). This election applies to all market discount bonds acquired by the taxpayer on or after the first day of the first taxable year to which the election applies. Accrued market discount for a bond is generally determined under a ratable formula.

    INTERNAL REVENUE SERVICE 1278.02-00 CC:DOM:FI&P: 1 - PLR

    www.irs.gov/pub/irs-wd/9915043.pdf
    What does 1276 (b) (1) mean?Section 1278(b). This election applies to all market discount bonds acquired by the taxpayer on or after the first day of the first taxable year to which the election applies. Accrued market discount for a bond is generally determined under a ratable formula. Section 1276(b)(1).

    INTERNAL REVENUE SERVICE 1278.02-00 CC:DOM:FI&P: 1 - PLR

    www.irs.gov/pub/irs-wd/9915043.pdf
    When does section 1276 not apply to bonds issued before 1984?Solely for purposes of section 1276, the preceding sentence shall not apply if such other bond was issued on or before July 18, 1984 (the date of the enactment of section 1276) and if the bond issued pursuant to such plan of reorganization has the same term and the same interest rate as such other bond had.

    26 U.S. Code § 1278 - Definitions and special rules | U.S

    www.law.cornell.edu/uscode/text/26/1278
    When does section 1271 of the Income Tax Act apply?Section applicable to taxable years ending after July 18, 1984, except as otherwise provided, see section 44 of Pub. L. 98–369, set out as a note under section 1271 of this title.

    26 U.S. Code § 1278 - Definitions and special rules | U.S

    www.law.cornell.edu/uscode/text/26/1278
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  3. 26 U.S. Code § 1278 - Definitions and special rules

    https://www.law.cornell.edu/uscode/text/26/1278

    WebJul 18, 1984 · the aggregate amount of the original issue discount includible in the gross income of all holders for periods before the acquisition of the bond by the taxpayer …

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  4. Sec. 1278. Definitions And Special Rules

    https://irc.bloombergtax.com/public/uscode/doc/irc/section_1278

    WebI.R.C. § 1278(b)(3) Period To Which Election Applies — An election under this subsection shall apply to the taxable year for which it is made and for all subsequent taxable years, …

  5. [PDF]

    IRC Section 1278(b) - e-Form RS

    https://eformrs.com/Forms10/Fedpdf10/SEC1278B.PDF

    WebIRC Section 1278(b) Election to Include Accrued Market Discount in Income Currently Overview IRC §1276(a) generally provides that gain on the disposition of any market …

  6. [PDF]

    INTERNAL REVENUE SERVICE 1278.02-00 …

    https://www.irs.gov/pub/irs-wd/9915043.pdf

    Webtaxpayer may elect to include accrued market discount in income currently. Section 1278(b). This election applies to all market discount bonds acquired by the taxpayer on or after the …

  7. 26 USC 1278: Definitions and special rules

    https://uscode.house.gov/view.xhtml?req=(title:26 section:1278 edition:prelim)

    WebFor purposes of section 1277, the term "market discount bond" shall not include any tax-exempt obligation (as defined in section 1275(a)(3)). (D) Treatment of bonds acquired at …

  8. Tax Treatment of Market Discount Bonds - The Tax Adviser

    https://www.thetaxadviser.com/issues/2007/oct/tax...

    WebUnder the general rule, market discount is accrued ratably (Sec. 1276(b)(1)). Instead of recognizing ordinary interest income on the disposition of a market discount bond, a …

  9. 26 CFR § 1.1272-3 - Election by a holder to treat all …

    https://www.law.cornell.edu/cfr/text/26/1.1272-3

    Web(A) A holder may make the election for a debt instrument with amortizable bond premium only if the instrument qualifies as a bond under section 171(d). (B) If a holder makes the …

  10. Instructions for Form 3115 (12/2018) | Internal Revenue …

    https://www.irs.gov/instructions/i3115

    WebEstimating inventory shrinkage (section 471) — from the present method of estimating inventory shrinkage in computing ending inventory to the retail safe harbor method in …

  11. 83(b) Election: Tax Strategy and When and Why to File

    https://www.investopedia.com/terms/1/83b-election.asp

    WebSep 04, 2021 · The 83 (b) election applies to equity that is subject to vesting, and it alerts the Internal Revenue Service (IRS) to tax the elector for the ownership at the time of …

  12. Memorandum on Delegation of Authority Pursuant to …

    https://www.presidency.ucsb.edu/documents/...

    WebBy the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, I hereby delegate …



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