for each of following citations, identify the type of authority (Statutory, administrative, or judicial) and explain the citation. 1.111-1 IRC 469 (c)(7)(B)(i) Rul 82-204, 1982-2 C.B. 192 Amdahl Corp., 108 TC 507 (1997) PLR 9727004 Hills v. Comm’r, 50 AFTR2d 82-6070 (11th, 1982)

for each of following citations, identify the type of authority (Statutory, administrative, or judicial) and explain the citation. 1.111-1 IRC 469 (c)(7)(B)(i) Rul 82-204, 1982-2 C.B. 192 Amdahl Corp., 108 TC 507 (1997) PLR 9727004 Hills v. Comm’r, 50 AFTR2d 82-6070 (11th, 1982)

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter2: Working With The Tax Law

Section: Chapter Questions

Problem 27DQ

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Concept explainers

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.

Question

for each of following citations, identify the type of authority (Statutory, administrative, or judicial) and explain the citation.

1.111-1
IRC 469 (c)(7)(B)(i)
Rul 82-204, 1982-2 C.B. 192
Amdahl Corp., 108 TC 507 (1997)
PLR 9727004
Hills v. Comm’r, 50 AFTR2d 82-6070 (11^th, 1982)

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