Comment on draft version of 2005 Schedule M-3.Aug. 31 is the deadline to comment on the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. draft version of the 2005 Schedule M-3, used by certain corporate taxpayers filing Form 1120. The draft includes two new line items: one for the new domestic production activities deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. and another for interest expense, among other minor modifications. For more on the draft version, visit www.irs.gov/businesses/corporations/article/0,,id=119992,00.html. Instructions to submit comments can be found at www.ustreas.gov/press/releases/js2506.htm. |
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