IRC definition

IRC the Internal Revenue Code of 1986 or any successor law, and regulations issued by the IRS pursuant to the Internal Revenue Code or any successor law. "IRS"--the United States Internal Revenue Service or any successor agency, and, to the extent relevant, the United States Department of the Treasury.

Examples of IRC in a sentence

  • The Charter School shall notify the Authorizer of any change to its status as a nonprofit federal tax exempt organization under IRC § 501(c)(3).

  • All employers which are members of a controlled group under Section 414 of the IRC are considered a single employer for purposes of these rules.

  • These penalties are prescribed by IRC sections 7213 and 7431 and set forth at 26 CFR 301.6103(n)-1.

  • Qualified medical expenses include amounts paid with respect to the individual, the individual's spouse, and the individual's dependents, for medical care defined under Section 213(d) of the IRC and such amounts are not compensated for by insurance or otherwise.

  • The Account Owner and Designated Beneficiary acknowledge and agree that the Custodial Account is subject to the provisions of Sections 4975 and 223(e)(2) of the IRC, which define certain prohibited transactions.


More Definitions of IRC

IRC means the Indian Roads Congress;
IRC means the Internal Revenue Code of 1986, as amended, and any reference to any particular IRC section shall be interpreted to include any revision of or successor to that section regardless of how numbered or classified.
IRC means the independent review committee established by the Manager for the Company pursuant to NI 81-107.
IRC the Internal Revenue Code of 1986, as amended, or any successor law.
IRC means 26 CFR Section 42 and subsections 501(c)(3) and 501(c)(4) of the Internal Revenue Code of 1986, together with corresponding and applicable final, temporary or proposed regulations, notices, and revenue rulings issued with respect thereto by the Treasury or the Internal Revenue Service of the United States.
IRC and “IRS” mean respectively, the Internal Revenue Code of 1986 and the Internal Revenue Service, and any successors thereto.