Income Tax Procedure ...Ronald Press, 1925 - Excess profits tax |
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Page 91
... claim for refund or a claim for credit ( see Chapter XIV ) . The regulations specifically prescribe amended returns in certain contingencies . REGULATION . . . . . If subsequently to its occurrence , however , a taxpayer first ...
... claim for refund or a claim for credit ( see Chapter XIV ) . The regulations specifically prescribe amended returns in certain contingencies . REGULATION . . . . . If subsequently to its occurrence , however , a taxpayer first ...
Page 104
... Claim for credit of net amount of taxes overpaid for any of the taxing years may be filed for the amount of assessment outstanding and claim for refund filed for balance . Claim for abatement instead of claim for credit , however ...
... Claim for credit of net amount of taxes overpaid for any of the taxing years may be filed for the amount of assessment outstanding and claim for refund filed for balance . Claim for abatement instead of claim for credit , however ...
Page 168
... claim for abatement on the ground of loss in inventory had been disallowed . Section 214 ( a - 12 ) , covering inventory claims , does not mention estates , etc. , as in section 250 ( e ) , this distinction apparently being the basis ...
... claim for abatement on the ground of loss in inventory had been disallowed . Section 214 ( a - 12 ) , covering inventory claims , does not mention estates , etc. , as in section 250 ( e ) , this distinction apparently being the basis ...
Page 170
... claim for tax was not scheduled in the bankruptcy proceedings and no claim therein was filed by the collector.38 RULINGS . Where a tax is placed on the assessment list after the dissolution of the corporation against which it is ...
... claim for tax was not scheduled in the bankruptcy proceedings and no claim therein was filed by the collector.38 RULINGS . Where a tax is placed on the assessment list after the dissolution of the corporation against which it is ...
Page 234
... claim for , abatement , section 279 prescribes that there shall be collected only so much of the claim as is denied . Attention is also invited to subdivision ( d ) of section 279 , which prescribes that , " Except as provided in this ...
... claim for , abatement , section 279 prescribes that there shall be collected only so much of the claim as is denied . Attention is also invited to subdivision ( d ) of section 279 , which prescribes that , " Except as provided in this ...
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Common terms and phrases
accounting period accrued affiliated agent allowed amended returns amount apply assessment assets attorney basis bonds calendar capital gains cash cent centum Chapter claim for refund collected collector computed consolidated return corporation cost court December 31 decision deductions deficiency depreciation determined distraint dividends earnings employees excess profits tax exchange exempt extension fact fair market value federal filed fiscal foreign Former Procedure gain or loss gross income held included Income Tax Procedure individual installment interest Internal Revenue inventory issued Liberty bonds limitation March ment net income normal tax notice and demand organized ownership certificates paid partnership payment penalty person prescribed prior purchase purpose received REGULATION reorganization Revenue Act RULING section 274 securities separate returns share specific statute stockholders subdivision surtax tax imposed tax returns taxable income taxpayer thereof tion transaction Treasury trust United
Popular passages
Page 633 - If an exchange would be within the provisions of subsection (b), (1), (2), (3), or (5) of this section if it were not for the fact that the property received in exchange consists not only of property permitted by such paragraph to be received without the recognition of gain, but also of other property or money...
Page 831 - Amounts distributed in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock, and amounts distributed in partial liquidation of a corporation shall be treated as in part or full payment in exchange for the stock.
Page 394 - No suit or proceeding shall be maintained in any court for the recovery of any internal-revenue tax alleged to have been erroneously or illegally assessed or collected, or of any penalty claimed to have been collected without authority, or of any sum alleged to have been excessive or in any manner wrongfully collected...
Page 680 - February 28, 1913. shall be the cost of such property; except that — "(6) Tax-free exchanges generally. — If the property was acquired upon an exchange described In section 112 (b) to (e), Inclusive, the basis shall be the same as In the case of the property exchanged, decreased In the amount of any money received by the taxpayer and Increased In the amount of gain or decreased In the amount of loss to the taxpayer that was recognized upon such exchange under the law applicable to the year In...
Page 266 - Witnesses summoned before the Board, its member, agent, or agency, shall be paid the same fees and mileage that are paid witnesses in the courts of the United States, and witnesses whose depositions are taken and the persons taking the same shall severally be entitled to the same fees as are paid for like services in the courts of the United States.
Page 888 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 611 - ... to be received without the recognition of gain, but also of other property or money, then the gain, if any, to the recipient shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property.
Page 157 - ... the Commissioner of Internal Revenue or the collector in pursuance of law, the Commissioner shall add to the tax 25 per centum of its amount, except that when a return is filed after such time and it is shown that the failure to file it was due to a reasonable cause and not to willful neglect, no such addition shall be made to the tax.
Page 570 - Whenever in the opinion of the Commissioner the use of inventories is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income.
Page 66 - Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this title...