ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

26 U.S.C. § 261 — General rule for disallowance of deductions

submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 21 words · no verdicts yet

in plain englishAI-generated · not legal advice

When calculating taxable income, no deduction is ever allowed for items listed in this part of the tax code. This section simply states that blanket rule. The specific items it refers to are covered in the sections that follow.

This section states one flat rule: when figuring out taxable income, no deduction is ever allowed for any of the items covered elsewhere in this part of the tax code.
the actual law source: uscode.house.gov ↗public domain

In computing taxable income no deduction shall in any case be allowed in respect of the items specified in this part.

Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 76.)

history & why it existsrecord from the source credit
  • 1954Enacted · Act of Aug. 16, 1954, ch. 736

A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case