Section 482 of the Internal Revenue Code Gives the IRS

question 3

True/False

Section 482 of the Internal Revenue Code gives the IRS the authority to apportion or allocate gross income, deductions, or credits between/among related parties to correct anyperceived distortion resulting from unrealistic prices charged by members of the group to each other for goods or services.

---

Definitions:

Herpesvirus

A large family of viruses that cause diseases in animals, including humans, characterized by latent and recurrent infections.

Epstein-Barr Virus

A herpesvirus that can cause infectious mononucleosis (mono) and is associated with various types of cancers and autoimmune diseases.

Viroid

Infectious strand of RNA devoid of a capsid and much smaller than a virus.

Prion

Infectious agents composed primarily of protein material that can induce abnormal folding of specific normal cellular proteins called prion proteins, mostly affecting the brain.