Income Tax Procedure ...Ronald Press Company, 1919 - Excess profits tax |
From inside the book
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Page iii
... considered on their merits , as they should be . When it is considered that a revenue bill which imposed a tax on the 1918 profits of practically every business man and business concern did not become a law until nearly four- teen ...
... considered on their merits , as they should be . When it is considered that a revenue bill which imposed a tax on the 1918 profits of practically every business man and business concern did not become a law until nearly four- teen ...
Page xiii
... considered obligations of railroad companies . Part II - Income CHAPTER VIII INCOME IN GENERAL Car- Plan of treatment . " Catch - all " provision . " Gross " and " net " income . Cash or accrual method . ( Changing from cash to ac ...
... considered obligations of railroad companies . Part II - Income CHAPTER VIII INCOME IN GENERAL Car- Plan of treatment . " Catch - all " provision . " Gross " and " net " income . Cash or accrual method . ( Changing from cash to ac ...
Page 14
... considered as merely a step toward a general state in- come tax in New York which will supplant the present un- satisfactory personal property tax for both state and local pur- poses . This is the ultimate solution of the intolerable ...
... considered as merely a step toward a general state in- come tax in New York which will supplant the present un- satisfactory personal property tax for both state and local pur- poses . This is the ultimate solution of the intolerable ...
Page 17
... considered an in- direct tax and therefore not subject to the constitutional rule of apportionment . Its constitutionality in its unapportioned form was apparently first questioned in Congress in 1870 , 2 but it was for other reasons ...
... considered an in- direct tax and therefore not subject to the constitutional rule of apportionment . Its constitutionality in its unapportioned form was apparently first questioned in Congress in 1870 , 2 but it was for other reasons ...
Page 19
... considered effort . " The personal exemption was high : $ 3,000 for a single person , with an additional $ 1,000 for a married couple . The rates , compared with recent levels at least , were very low , with a normal tax of 1 per cent ...
... considered effort . " The personal exemption was high : $ 3,000 for a single person , with an additional $ 1,000 for a married couple . The rates , compared with recent levels at least , were very low , with a normal tax of 1 per cent ...
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Common terms and phrases
accrued actually additional allowable allowable deductions amended amount apply assessed assets bank basis bonds calendar capital cash cent certificates Chapter charged claim close collected collector Commissioner compensation computed considered constitute contract corporation cost course Court decision deduction determined difference distribution dividends earnings effect employees entire excess profits tax exemption expenses fact fair filed fiscal foreign Former Procedure gains gifts gross income held holding imposed income tax indebtedness individual interest Internal inventory invested issued less limited loss March means ment method months necessary normal tax obligations operation paid partnership payment period permitted practice prior purchase question rates realized reasonable received REGULATION reported result ruling Section securities shares specifically stockholders surplus taxable taxation taxpayer term tion transaction Treasury United
Popular passages
Page 72 - taxable year" means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the net income is computed under this chapter. The term "fiscal year" means an accounting period of twelve months ending on the last day of any month other than December. The term "taxable year...
Page 859 - Mutual savings banks not having a capital stock represented by shares ; (3) Fraternal beneficiary societies, orders, or associations, (A) operating under the lodge system or for the exclusive benefit of the members of a fraternity itself operating under the lodge system...
Page 928 - ... or to permit any income return or copy thereof or any book containing any abstract or particulars thereof to be seen or examined by any person except as provided by law; and it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 891 - In the case of mines, oil and and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of Improvements, according to the peculiar conditions in each case...
Page 399 - That in computing net income there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 193 - paid" for the purposes of the deductions and credits under this article, means "paid or accrued" or "paid or incurred," and the terms "paid or incurred" and "paid or accrued" shall be construed according to the method of accounting upon the basis of which the net income is computed, under this article.
Page 361 - A word is not a crystal, transparent and unchanged, it is the skin of a living thought and may vary greatly in color and content according to the circumstances and the time in which it is used.
Page 159 - ... shall render a true and accurate return to the Commissioner, under such regulations and in such form and manner and to such extent as may be prescribed by him with the approval of the Secretary, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment.
Page 635 - Losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in any transaction entered into for profit, though not connected with the trade or business...
Page 889 - 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.