Internal Revenue Code definition: Copy, customize, and use instantly
Introduction
The term "Internal Revenue Code" refers to the body of federal tax laws in the United States, codified under Title 26 of the United States Code. Commonly abbreviated as "IRC," it governs the rules and regulations related to federal income tax, corporate tax, payroll taxes, and other tax-related matters. The IRC serves as the primary source of U.S. tax law and is frequently referenced in contracts, agreements, and legal documents concerning tax compliance and obligations.
Below are various examples of how "Internal Revenue Code" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Internal Revenue Code" in tax compliance agreements
This definition ties "Internal Revenue Code" to regulatory compliance.
"Internal Revenue Code" means Title 26 of the United States Code, which governs all federal tax laws, including income, corporate, estate, and payroll taxes.
Definition of "Internal Revenue Code" in employee benefit plans
This definition connects "Internal Revenue Code" to retirement plans.
"Internal Revenue Code" refers to the statutory framework under Title 26 of the United States Code, including provisions governing qualified retirement plans and employee benefits.
Definition of "Internal Revenue Code" in corporate governance documents
This definition links "Internal Revenue Code" to tax obligations.
"Internal Revenue Code" includes all provisions under Title 26 of the United States Code relevant to corporate tax compliance, deductions, and reporting requirements.
Definition of "Internal Revenue Code" in real estate transactions
This definition applies "Internal Revenue Code" to property-related taxes.
"Internal Revenue Code" means Title 26 of the United States Code, including sections related to the taxation of real estate transactions, capital gains, and depreciation allowances.
Definition of "Internal Revenue Code" in mergers and acquisitions agreements
This definition ties "Internal Revenue Code" to tax implications of transactions.
"Internal Revenue Code" refers to Title 26 of the United States Code, including all provisions applicable to the tax treatment of mergers, acquisitions, and corporate reorganizations.
Definition of "Internal Revenue Code" in charitable organization agreements
This definition connects "Internal Revenue Code" to nonprofit tax status.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions governing tax-exempt organizations under Section 501(c)(3) and related tax regulations.
Definition of "Internal Revenue Code" in estate planning agreements
This definition links "Internal Revenue Code" to inheritance and estate tax laws.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly sections addressing federal estate and gift taxes, generation-skipping transfers, and related provisions.
Definition of "Internal Revenue Code" in payroll tax agreements
This definition ties "Internal Revenue Code" to employee tax compliance.
"Internal Revenue Code" refers to the provisions under Title 26 of the United States Code that govern federal payroll taxes, including withholding, Social Security, and Medicare contributions.
Definition of "Internal Revenue Code" in partnership agreements
This definition connects "Internal Revenue Code" to pass-through taxation.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions related to the taxation of partnerships and the allocation of income, gains, losses, and credits among partners.
Definition of "Internal Revenue Code" in tax-exempt financing agreements
This definition links "Internal Revenue Code" to municipal bonds.
"Internal Revenue Code" refers to Title 26 of the United States Code, including sections governing tax-exempt bonds and the requirements for maintaining their tax-exempt status.
Definition of "Internal Revenue Code" in deferred compensation agreements
This definition ties "Internal Revenue Code" to employee benefits.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly Section 409A, which governs the rules and requirements for nonqualified deferred compensation plans.
Definition of "Internal Revenue Code" in international tax compliance agreements
This definition connects "Internal Revenue Code" to cross-border transactions.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions related to the taxation of foreign income, foreign tax credits, and cross-border transactions.
Definition of "Internal Revenue Code" in REIT agreements
This definition links "Internal Revenue Code" to real estate investment trusts.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions governing the tax treatment of real estate investment trusts (REITs) under Section 856 and related sections.
Definition of "Internal Revenue Code" in S corporation agreements
This definition ties "Internal Revenue Code" to small business taxation.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions related to the election, operation, and taxation of S corporations under Section 1361 and related sections.
Definition of "Internal Revenue Code" in executive compensation agreements
This definition connects "Internal Revenue Code" to tax rules for executives.
"Internal Revenue Code" includes Title 26 of the United States Code, including Sections 280G and 4999, which govern the tax treatment of executive compensation and golden parachute payments.
Definition of "Internal Revenue Code" in student loan repayment programs
This definition links "Internal Revenue Code" to tax benefits for education.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions governing the tax treatment of student loan repayments and education-related deductions or credits.
Definition of "Internal Revenue Code" in tax deferral agreements
This definition ties "Internal Revenue Code" to deferred tax obligations.
"Internal Revenue Code" means Title 26 of the United States Code, including sections governing the deferral of income recognition for taxpayers under specific circumstances.
Definition of "Internal Revenue Code" in financial institution agreements
This definition connects "Internal Revenue Code" to banking compliance.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions that apply to financial institutions’ tax obligations, including withholding and reporting requirements.
Definition of "Internal Revenue Code" in small business agreements
This definition links "Internal Revenue Code" to tax credits and deductions.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly sections that address tax credits, deductions, and incentives for small businesses.
Definition of "Internal Revenue Code" in health savings account agreements
This definition ties "Internal Revenue Code" to HSA regulations.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions under Section 223 governing the tax treatment and compliance requirements for health savings accounts (HSAs).
Definition of "Internal Revenue Code" in retirement plan agreements
This definition connects "Internal Revenue Code" to retirement contributions.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly provisions governing 401(k) plans, individual retirement accounts (IRAs), and other tax-advantaged retirement accounts.
Definition of "Internal Revenue Code" in nonprofit grant agreements
This definition links "Internal Revenue Code" to tax-exempt funding.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions applicable to tax-exempt organizations receiving grants under Section 501(c)(3).
Definition of "Internal Revenue Code" in capital gains agreements
This definition ties "Internal Revenue Code" to investment taxation.
"Internal Revenue Code" means Title 26 of the United States Code, including sections that govern the taxation of capital gains and losses for individuals and corporations.
Definition of "Internal Revenue Code" in bankruptcy proceedings
This definition connects "Internal Revenue Code" to tax treatment in insolvency.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions governing the treatment of tax liabilities and assets during bankruptcy or insolvency proceedings.
Definition of "Internal Revenue Code" in tax treaty agreements
This definition ties "Internal Revenue Code" to international tax coordination.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions governing the implementation and interpretation of U.S. tax treaty obligations with foreign jurisdictions.
Definition of "Internal Revenue Code" in controlled foreign corporation (CFC) agreements
This definition connects "Internal Revenue Code" to foreign entity taxation.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions such as Subpart F income rules applicable to controlled foreign corporations.
Definition of "Internal Revenue Code" in tax credit financing agreements
This definition links "Internal Revenue Code" to tax incentives.
"Internal Revenue Code" refers to Title 26 of the United States Code, including sections providing tax credits for renewable energy projects, low-income housing, and other qualifying activities.
Definition of "Internal Revenue Code" in passthrough entity agreements
This definition ties "Internal Revenue Code" to partnership and LLC taxation.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly provisions applicable to the taxation of passthrough entities such as partnerships and limited liability companies (LLCs).
Definition of "Internal Revenue Code" in expatriation agreements
This definition connects "Internal Revenue Code" to exit taxes.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions under Section 877A governing the tax treatment of individuals relinquishing U.S. citizenship or permanent residency.
Definition of "Internal Revenue Code" in transfer pricing agreements
This definition links "Internal Revenue Code" to intercompany pricing.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions under Section 482 addressing transfer pricing rules for related-party transactions.
Definition of "Internal Revenue Code" in disaster relief agreements
This definition ties "Internal Revenue Code" to emergency tax provisions.
"Internal Revenue Code" includes Title 26 of the United States Code, including sections authorizing tax relief and deductions for losses incurred during federally declared disasters.
Definition of "Internal Revenue Code" in cost recovery agreements
This definition connects "Internal Revenue Code" to depreciation and amortization.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions governing cost recovery through depreciation, amortization, and similar deductions for businesses.
Definition of "Internal Revenue Code" in withholding tax agreements
This definition links "Internal Revenue Code" to nonresident income.
"Internal Revenue Code" means Title 26 of the United States Code, including sections requiring the withholding of taxes on payments to nonresident aliens and foreign entities.
Definition of "Internal Revenue Code" in nonprofit compliance policies
This definition ties "Internal Revenue Code" to operational guidelines.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly sections applicable to operational, reporting, and governance requirements for tax-exempt organizations.
Definition of "Internal Revenue Code" in energy credit agreements
This definition connects "Internal Revenue Code" to renewable energy incentives.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions for investment tax credits and production tax credits for renewable energy projects.
Definition of "Internal Revenue Code" in alternative minimum tax agreements
This definition links "Internal Revenue Code" to AMT calculations.
"Internal Revenue Code" means Title 26 of the United States Code, including sections governing the calculation and application of the alternative minimum tax for individuals and corporations.
Definition of "Internal Revenue Code" in low-income housing agreements
This definition ties "Internal Revenue Code" to housing development.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions under Section 42 addressing tax credits for low-income housing developments.
Definition of "Internal Revenue Code" in retirement contribution agreements
This definition connects "Internal Revenue Code" to savings plans.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly sections governing contribution limits, tax deferral, and penalties related to retirement savings accounts.
Definition of "Internal Revenue Code" in healthcare tax policies
This definition links "Internal Revenue Code" to health coverage.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions governing health savings accounts (HSAs), employer-sponsored health plans, and related tax credits.
Definition of "Internal Revenue Code" in alternative energy projects
This definition ties "Internal Revenue Code" to sustainable initiatives.
"Internal Revenue Code" includes Title 26 of the United States Code, particularly sections providing tax incentives and credits for alternative energy investments and innovations.
Definition of "Internal Revenue Code" in gift tax agreements
This definition connects "Internal Revenue Code" to wealth transfers.
"Internal Revenue Code" refers to Title 26 of the United States Code, including provisions under Sections 2501 and 2511 governing federal gift taxes and exemptions.
Definition of "Internal Revenue Code" in income attribution agreements
This definition links "Internal Revenue Code" to related-party income.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions governing the attribution of income among related entities or individuals under specific circumstances.
Definition of "Internal Revenue Code" in research and development agreements
This definition ties "Internal Revenue Code" to innovation tax credits.
"Internal Revenue Code" refers to Title 26 of the United States Code, including sections providing research and development tax credits for qualifying activities and expenditures.
Definition of "Internal Revenue Code" in corporate dissolution agreements
This definition connects "Internal Revenue Code" to wind-up taxation.
"Internal Revenue Code" means Title 26 of the United States Code, including provisions governing the tax treatment of corporate dissolutions, liquidations, and asset distributions.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.