Income Tax Procedure ...

Front Cover
Ronald Press Company, 1919 - Excess profits tax

From inside the book

Contents

tensions illegally conditioned upon prepayment of taxes Exten
101
in_returnpenalties Penalties for failure to make return
109
Special rates on transportation companies under government
115
count Fiscal year 19171918computation of the tax Amounts
121
corporations with fiscal years ending in 1918 Corporations
128
PROTESTS APPEALS OVERPAYMENTS REFUNDS
140
Payment of refunds
146
sary Should payment ever be made under protest? Protest
152
Employees of United States government must make return
159
PAYMENT OF TAX AT SOURCE
173
REGULATIONS AND RULINGS GOVERNING PAYMENT OF TAX
179
Recipient may take credit for tax paid at the source Foreign cor
185
INCOME FROM PERSONAL SERVICES
200
ing bonus?
210
INCOME FROM BUSINESS
217
Taxable income can only arise from dealings with the public
232
INCOME FROM THE APPRECIATION OF PROPERTY
249
OF PROPERTY VALUES WHAT CONSTITUTES A CLOSED TRANSAC
266
PROCEEDS OF SALE OF RIGHTS TO SUBSCRIBE TO STOCK CONSID
283
Method of valuing patents Royalties subject to depreciation
292
on bank loans Interest received by stockbrokers and others
308
shares Income from life insurance policies Annuities Interest
315
CASH DIVIDENDS THE TAXABILITY OF WHICH HAS BEEN
334
tion reserves Dividends paid out of appreciation of goodwill
341
having income on their own account Dividends on stock
348
designating period applicable Dividends of foreign corporations
355
INCOME FROM PARTNERSHIPS LIMITED PARTNER
369
a partnership defined Special credits and deductions Credits
379
Corporations receiving income mainly from government cannot
385
DEDUCTIONS AND CREDITSGENERAL
391
DEDUCTIONS FOR EXPENSES
397
penses be deducted as casualties? Salesmens expenses are
403
business expenses Business expenses of the professional
411
Amounts ostensibly paid as compensation Bonuses and other spe
421
by individuals deductible within limitations Individual credits
430
DEDUCTIONS FOR BAD DEBTS
519
Charging
526
DEDUCTIONS FOR DEPRECIATION
532
DEDUCTIONS FOR OBSOLESCENCE AND AMORTIZA
581
DEDUCTIONS FOR DEPLETION
589
ment costs Depletion basis for discoverers Advance royalties
596
GAS AND OIL WELLSDETAILED REGULATIONS FOR DETERMIN
602
TIMBER LANDS
609
TAX ON UNDISTRIBUTED PROFITS OF CORPORA
617
NONRESIDENT ALIENS
625
FIDUCIARIES
648
DEDUCTIONS ALLOWED IN COMPUTING NET INCOME OF
655
return and pay tax Receiver of rents etc Return for deceased
668
Mutual insurance companies other than
675
APPLICATION AND ADMINISTRATIONRE
691
ice corporations for fiscal year ended in 1918 Refund of 1918 taxes
704
INVESTED CAPITAL
717
values When no provision has been made for depreciation
742
ADJUSTMENT OF NET INCOME Reorganiza
758
tation of average net income Years 1911 and 1912 Prewar
766
as to the invested capital and net income for the prewar period
772
EXCESS AND WAR PROFITS TAXESFORMER
785
ing abroad Partnerships Balance sheets required Invested
793
Classification of net income Rate of tax on income of class
801
income on invested capital was low by comparison Deduction
807
Valuation of tangible
813
fined Averaging indebtedness over the year for purpose of
818
Reorganization on or after January 2 1913
824
rate Salaries Interest Dividends Taxes Contributions
830
No double tax on partners Net incometaxable year Deduc
839
Photographers Vaudeville theatres Salesmen Minor children
845
FEDERAL CAPITAL STOCK EXCISE TAX
853
MUNITION MANUFACTURERS TAX
873
INCOME AND WAR PROFITS AND EXCESS PROFits Tax Law1918
879
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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.

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