Sở Thuế Vụ Thuyết minh báo cáo tài chính Đối với năm kết thúc ngày 30 tháng 9 năm 2011 và 2010 Abatements Mục 6404 của Bộ Luật Thuế Vụ (26 USC), ủy quyền cho Ủy viên của IRS để giảm đi phần thanh toán hoặc chưa thanh toán các loại thuế đánh giá, quan tâm, và hình phạt. | Financial Statements INTERNAL REVENUE SERVICE Notes to the Financial Statements For the Years Ended September 30 2011 and 2010 Abatements Section 6404 of the Internal Revenue Code 26 USC authorizes the Commissioner of the IRS to abate certain paid or unpaid portions of assessed taxes interest and penalties. Abatements occur for a number of reasons and are a standard part of the tax administration process. Abatements may be allowed for qualifying corporations claiming net operating losses which create a credit when carried back and applied against a prior year s tax liability. Additionally abatements can correct previous assessments from enforcement programs eliminate taxes discharged in bankruptcy reduce or eliminate taxes encompassed in offers in compromise eliminate penalty assessments for reasonable cause eliminate contested assessments made due to mathematical or clerical errors and eliminate assessments contested after the liability has been satisfied. Abatements may result in claims for refunds or a reduction of the unpaid assessed amount. G. Property and Equipment Property and equipment is recorded at historical cost. It consists of tangible assets and software. The IRS depreciates property and equipment on a straight line basis over its estimated useful life. In the first and final years one-half year depreciation is taken. Disposals are recorded when deemed material. The IRS capitalization policy for property and equipment is presented by asset class and capitalization threshold. Asset Class Capitalization Threshold ADP equipment Non-ADP equipment Furniture Capitalized regardless of acquisition cost Assets with bulk cost of 50 thousand or greater Capitalized regardless of acquisition cost Investigative equipment Vehicles Assets with bulk cost of 50 thousand or greater Capitalized regardless of acquisition cost Major systems Projects with costs of 20 million or greater Internal Use Software Major business systems modernization projects with an estimated .
