Military Renegotiation Regulations Under the Renegotiation Act of 1948 |
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Act of February aggregate Air Force allocable to renegotiable allowed amended amount of excessive applicable Bureau of Internal computation contract or subcontract contractor or subcontractor Contractor's Report contracts and subcontracts deduction deemed Department determination of excessive determining excessive profits excess profits taxes excessive profits determined excessive profits eliminated exempt February 25 Federal income tax Federal tax filed fiscal Form of Contractor's furnished Government income and excess Internal Revenue Code inventory item of cost materials Military Renegotiation Policy Military Renegotiation Regulations National Defense Appropriation National Military Establishment paragraph payment Policy and Review prepayment Public Law receipts or accruals received or accrued refund Renego renegotiable business renegotiable contracts renegotiating agency Renegotiation Act Renegotiation Division request Reserved respect Review Board royalties Secretary of Defense section 618 statement subcontracts thereunder subject contracts subject to renegotiation Supplemental National Defense Tax Court tax credit termination tion tractor United
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Página 21 - Columbia, after the notice of deficiency authorized in section 6212 is mailed (not counting Saturday, Sunday, or a legal holiday in the District of Columbia as the last day), the taxpayer may file a petition with the Tax Court for a redetermination of the deficiency.
Página 134 - Agent in charge (not to the Collector of Internal Revenue) of the District in which the...
Página 110 - ... contractor or subcontractor, may, within ninety days (not counting Sunday or a legal holiday in the District of Columbia as the last day) after the date of such determination, file a petition with The Tax Court of the United States for a redetermination thereof.
Página 161 - renegotiation" Includes any transaction which Is a renegotiation within the meaning of the Federal renegotiation act applicable to such transaction, any modification of one or more contracts with the United States or any agency thereof, and any agreement with the United States or any agency thereof In respect of one or more such contracts or subcontracts thereunder. (B) The term "excessive profits...
Página 10 - subcontract", as used in the act, means any purchase order or agreement in excess of $1,000 to perform all or any part of the work, or to make or furnish any article, required for the performance of any other subject contract or subcontract. (h) The term "article" means any material, part, assembly, machinery, equipment, or other personal property.
Página 151 - ... it shall, at the request of the contractor or subcontractor, as the case may be, prepare and furnish such contractor or subcontractor with a statement of such determination, of the facts used as a basis therefor, and of its reasons for such determination.
Página 140 - No Member of or Delegate to Congress,, or Resident Commissioner, shall be admitted to any share or part of this agreement, or to any benefit that may arise therefrom; but this provision shall not he construed to extend to this agreement if made with a corporation for its general benefit.
Página 163 - deficiency" means the amount by which the tax Imposed by subtitles A or B exceeds the excess of — (1) the sum of (A) the amount shown as the tax by the taxpayer upon his return, If a return was made by the taxpayer and an amount was shown as the tax by the taxpayer thereon, plus (B) the amounts previously assessed (or collected without assessment) as a deficiency, over — (2) the amount of rebates, as defined In subsection (b) (2), made.
Página 128 - The net worth, with particular regard to the amount and source of public and private capital employed; 3. Extent of risk assumed, including the risk incident to reasonable pricing policies; 4. Nature and extent of contribution to the defense effort, including inventive and developmental contribution and cooperation with the Government and other contractors in supplying technical assistance; 5.
Página 162 - Commissioner that a different method of accounting for the amount of the payment, repayment, or disallowance clearly reflects income, and in such case the payment, repayment, or disallowance shall be accounted for with respect to the taxable year provided for under such method, which for the purposes of subsections (b) and (c) shall be considered a prior taxable year.