The Deficit Reduction Act of 1984 changed the way IRS is to determine the correct interest and principal components in debt instruments that do not provide for a market rate of interest. This paper describes these new rules for "unstated" and "imputed" interest on mortgages and briefly discusses the controversy they have generated.,CRS 84-735 E,"August 30, 1984.",SuDoc# LC 14. 18/3

The House tax reform bill, H.R. 3838, makes some major changes in the tax provisions that most affect the way farm income is taxed. The investment tax credit is repealed, a new depreciation system is provided, restrictions are imposed on deducting preproduction expenses, a new minimum tax aimed at tax shelter investors is included, and tax rates are generally reduced. This report examines these and other provisions in the House tax bill.,Abstraction -- Introduction. Overview of HR 3838 -- Capital Gains -- Capital Recovery System -- Expensing Capital Costs -- The Minimum Tax -- Other Provisions. Limitation on Nonbusiness Interest Deduction ; Deductions for Fertilizer, Land-clearing, and Conservation Expenses ; Estimated Tax Rules ; "Netting" by Cooperatives ; Miscellaneous Provisions.,Jack Taylor, Specialist in Public Finance, Economics Division.,CRS 86-509 E,"January 7, 1986.",SuDoc# 14. 18/3