Income Tax Law: Analysis and Comment |
From inside the book
Results 1-5 of 40
Page 29
... Tax for 1918 as levied by the Revenue Act of 1919 1918 The Sixteenth ... tax law enacted thereafter became effective in October , 1913 , and in Jan- uary ... imposed by the laws applying in 1917 , or by the law of 1916. The new Act is ...
... Tax for 1918 as levied by the Revenue Act of 1919 1918 The Sixteenth ... tax law enacted thereafter became effective in October , 1913 , and in Jan- uary ... imposed by the laws applying in 1917 , or by the law of 1916. The new Act is ...
Page 48
... tax exempt . In the case of a non- resident alien individual it is the proportion of such interest which his gross income within the United States bears to his gross income from all sources . Taxes paid or accrued , such as are imposed ...
... tax exempt . In the case of a non- resident alien individual it is the proportion of such interest which his gross income within the United States bears to his gross income from all sources . Taxes paid or accrued , such as are imposed ...
Page 51
... tax must be levied on a real and not a fictitious net income . " Losses in Trade " 48. " Losses in trade " have been ... taxes imposed for such preceding taxable year shall be redetermined accordingly . ( As a practical matter , it would ...
... tax must be levied on a real and not a fictitious net income . " Losses in Trade " 48. " Losses in trade " have been ... taxes imposed for such preceding taxable year shall be redetermined accordingly . ( As a practical matter , it would ...
Page 61
... tax . In some cases he is allowed deductions under slightly different conditions from those imposed on a citizen or resident . In general , his allowable deductions are identical with those of the resident or citizen except that the non ...
... tax . In some cases he is allowed deductions under slightly different conditions from those imposed on a citizen or resident . In general , his allowable deductions are identical with those of the resident or citizen except that the non ...
Page 62
... taxes paid or accrued during the taxable year , such as are imposed by the authority of any foreign country ( except income , war profits and excess profits taxes , and taxes assessed against local benefits of a kind tending to increase ...
... taxes paid or accrued during the taxable year , such as are imposed by the authority of any foreign country ( except income , war profits and excess profits taxes , and taxes assessed against local benefits of a kind tending to increase ...
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...