Description of Additional Miscellaneous Tax Proposals : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the House Committee On Ways And Means On October 26, 1989 Jcx-66-89
Description of Additional Miscellaneous Tax Proposals : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the House Committee On Ways And Means On October 26, 1989 Jcx-66-89
United States. Congress. Joint Committee On Taxation
The book Description of Additional Miscellaneous Tax Proposals : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the House Committee On Ways And Means On October 26, 1989 Jcx-66-89 was written by author United States. Congress. Joint Committee On Taxation Here you can read free online of Description of Additional Miscellaneous Tax Proposals : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the House Committee On Ways And Means On October 26, 1989 Jcx-66-89 book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Description of Additional Miscellaneous Tax Proposals : Scheduled for a Hearing Before the Subcommittee On Select Revenue Measures of the House Committee On Ways And Means On October 26, 1989 Jcx-66-89 a good or bad book?
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- 20 - 2. Alternative recapture method for mutual savings banks changing from the reserve method to the specific charge-off method for bad debts Present Law Under present law, a thrift institution (i.e., a building and loan association, mutual savings bank, or cooperative bank) is permitted a deduction for a reasonable addition to a reserve for bad debts if at least 60 percent of its assets are invested in qualified assets (including home mortgages) (Code sees. 593(a)(2) and 7701 ( a ) ( 19 ) )... . The reasonable addition to the reserve for bad debts for a thrift institution is an amount computed under the experience method or an amount equal to 8 percent of its otherwise taxable income. The amount of bad debt reserves are recaptured if the thrift institution is liquidated in a taxable transaction or makes dividend distributions in excess, of post-1951 earnings (Code sec. 593(e)). A commercial bank whose average adjusted bases of all assets does not exceed $500 million (i.e., a "small bank") also is allowed a deduction for a reasonable addition to a reserve for bad debts.
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