Summary of Conference Agreement On Revenue Increase Provisions of H.R. 3545 Jcx-27-87

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Effective date open.
Senate Offer - 12/15/87 - Senate recedes with technical modifications includinq the modification that an exception be provided for the consolidation or merger of corporations previously under common control for a 5-year period. Provision to be effective for transactions after December 15, 1987 unless subject to a written contract or agreement of merger bindina on that date. ^ House Response ^ 12/16/87 - 4;00 PM - House accepts Senate offer with modification of effective dat
...e for letters of intent signed prior to December 16, 1987.
Senate Response - 12/17/87 - AGREED 9. LIFO recapture on conversion from C corporation to S corporation House Offer - 12/15/87 - Senate recedes with a modification providing a 4-vear soread for amounts includible. = -f f Senate Offer ^ 12/15/87 - House recedes.
House Response - 12/16/87 - 4:00 PM - House insists on offer of 12/15/87 with modification of effective date to December 16, 1987.
Senate Response - 12/17/87 - Senate insists on prior offer.


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