Income Tax Law: Analysis and Comment |
From inside the book
Results 1-5 of 24
Page 50
... computed without the benefits of this deduction . The law stipulates that such gifts shall be allowed only if " verified " under regulations prescribed by the Commissioner . Non - resident aliens are allowed de- ductions for only such ...
... computed without the benefits of this deduction . The law stipulates that such gifts shall be allowed only if " verified " under regulations prescribed by the Commissioner . Non - resident aliens are allowed de- ductions for only such ...
Page 72
... computed under the laws of 1916 as amended , and of 1917 , as the period of time within the calendar year 1917 bears to the entire period ; and ( 2 ) the same proportion as the tax for the entire period computed under the law of 1918 as ...
... computed under the laws of 1916 as amended , and of 1917 , as the period of time within the calendar year 1917 bears to the entire period ; and ( 2 ) the same proportion as the tax for the entire period computed under the law of 1918 as ...
Page 73
... computed on the basis of a calendar year , return shall be made on or before the fifteenth day of March ; if computed on the basis of a fiscal year , return shall be Place of Return Extension of Time to File Return made 73 ANALYSIS AND ...
... computed on the basis of a calendar year , return shall be made on or before the fifteenth day of March ; if computed on the basis of a fiscal year , return shall be Place of Return Extension of Time to File Return made 73 ANALYSIS AND ...
Page 81
... computed for the entire period under the excess profits tax provisions of the 1917 Law shall be credited against the net income com- puted under the Income Tax Law of 1916 as amended , and of 1917 ; and the war profits and excess ...
... computed for the entire period under the excess profits tax provisions of the 1917 Law shall be credited against the net income com- puted under the Income Tax Law of 1916 as amended , and of 1917 ; and the war profits and excess ...
Page 83
... compute the amount of interest paid on its indebtedness along the same lines as laid down in respect to domestic organizations , but the foreign organization is allowed deduction of only such a proportion of that interest as the gross ...
... compute the amount of interest paid on its indebtedness along the same lines as laid down in respect to domestic organizations , but the foreign organization is allowed deduction of only such a proportion of that interest as the gross ...
Common terms and phrases
accounting period allowable deductions amount of tax amounts received apply approval assessed basis beneficiary bonds calendar year 1918 cent centum citizen or resident collected computed contract deductions and credits deemed deputy collector distributed district domestic corporation earnings or profits entire period estate or trust excess profits taxes fair market value February 28 Federal fiduciary fiscal foreign corporation foreign country gross income income derived income exceeds installment interest Internal Revenue inventory liable Liberty Bond Liberty Loan living with husband loss Municipal Bonds net income exceeds non-resident alien individual normal tax obligations paid or accrued partnership payment personal exemption personal service corporation Philippine Islands poration Porto Rico prescribed purpose rates redetermination regulations Revenue Act section 252 statute stockholders surtax tax due tax free tax imposed Taxable Securities taxes paid taxpayer thereof tion trade or business Treasury Department United War Finance Corporation war profits withholding agent
Popular passages
Page 112 - That every partnership shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowed by this title, and shall include in the return the names and addresses of the individuals who would be entitled to share in the net income if distributed and the amount of the distributive share of each individual. The return shall be sworn to by any one of the partners.
Page 103 - ... rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
Page 133 - It shall be unlawful for any collector, deputy collector, agent, clerk, or other officer or employee of the United States to divulge or to make known in any manner whatever not provided by law to any person the operations, style of work, or apparatus of any manufacturer or producer visited by him in the discharge of his official duties, or the amount or source of income, profits, losses, expenditures, or any particular thereof,.
Page 135 - The amount so added to any tax shall be collected at the same time and in the same manner and as part of the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the amount so added shall be collected in the same manner as the tax.
Page 103 - ... taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 117 - A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence.
Page 120 - States and not having any office or place of business therein, there shall be deducted and withheld at the source in the same manner and upon the same items of income as is provided in section...
Page 113 - If the change is from calendar year to fiscal year, a separate return shall be made for the period between the close of the last calendar year for which return was made and the date designated as the close of the fiscal year.
Page 134 - ... whenever any person who is required to deliver a monthly or other return of objects subject to tax fails to do so at the time required, or delivers any return which, in the opinion of the collector, is false or fraudulent, or contains any undervaluation or understatement...
Page 101 - The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts, either during the term or at the maturity of the term mentioned in the contract or upon surrender of the contract...