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CONGRESS OF THE UNITED STATES JOINT COMMITTEE ON INTERNAL REVENUE TAXATION

MEMBERS

SENATE

HOUSE OF REPRESENTATIVES

REED SMOOT, Utah.

WILLIAM R. GREEN, Iowa, JAMES E. WATSON, Indiana.

Chairman. David A. REED, Pennsylvania. WILLIS C. HAWLEY, Oregon, FURNIFOLD MCL. SIMMONS, North

Vice Chairman. Carolina.

ALLEN T. TREADWAY, MassachuANDRIEUS A. JONES, New Mexico. setts.

John N. GARNER, Texas.

| JAMES W. COLLIER, Mississippi. B. C. Brown, Secretary

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TABLE OF CONTENTS

VOLUME I

Report on internal-revenue' taxation.

Part I. General summary.

Part II. Simplification :

General summary of problems.

Nature of problems.

Rearrangement of act.

Provisions relating to taxes under prior acts.

Estate and excise taxes and miscellaneous taxes.

Tpyographical simplification.

Administrative code.

Phraseology and expression.

Simplification of the substance of the act.

Simplification of administration.

Part III. Investigation of particular subjects:

1. Earned income.

2. Capital gains and losses.

3. Evasion of surtax by incorporation.

4. Installment sales.

5. Consolidated returns.

6. Federal tax liens,

7. Transferees of property.

8. The bar of statute of limitations.

9. Basis for gain or loss on sale by executor.

10. Interest on overpayments and underpayments.

11. Congestion and delay in settlement of cases.

12. Closing agreements.

13. Miscellaneous subjects.

VOLUME II

Proposed rearrangement of income-tax provisions.

VOLUME III

Survey of administration prepared and submitted by the Treasury Department.

V