Income Tax Procedure ...Ronald Press Company, 1919 - Excess profits tax |
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Page xv
... fair market value March 1 , 1913. ( Inheritances . Gifts . Property acquired in exchange for stock . ) Written up book values as of effective date of law never taxable . ( Cases under the 1909 law . Case under 1913 law . ) The ...
... fair market value March 1 , 1913. ( Inheritances . Gifts . Property acquired in exchange for stock . ) Written up book values as of effective date of law never taxable . ( Cases under the 1909 law . Case under 1913 law . ) The ...
Page xxviii
... fair value . ( Exhibit A : Condensed balance sheet . Exhibit B : Quotations or outside sales prices . Exhibit C : Annual income . ) Deductions and credits . Deduction . Time of making returns and payment of tax . ( Time for making ...
... fair value . ( Exhibit A : Condensed balance sheet . Exhibit B : Quotations or outside sales prices . Exhibit C : Annual income . ) Deductions and credits . Deduction . Time of making returns and payment of tax . ( Time for making ...
Page 90
... fair position under the income tax law.2 LAW . Section 240. ( a ) That corporations which are affiliated within the meaning of this section shall , under regulations to be pre- scribed by the Commissioner with the approval of the ...
... fair position under the income tax law.2 LAW . Section 240. ( a ) That corporations which are affiliated within the meaning of this section shall , under regulations to be pre- scribed by the Commissioner with the approval of the ...
Page 156
... fair .. The very purpose is to enable revision , to correct the mistake , of omis- sion or commission , or to prevent frauds ; and it would be anomalous to assume infallibility on the part of the government in its efforts at revi- sion ...
... fair .. The very purpose is to enable revision , to correct the mistake , of omis- sion or commission , or to prevent frauds ; and it would be anomalous to assume infallibility on the part of the government in its efforts at revi- sion ...
Page 164
... fair monthly wage , and unless yearly payment based on this estimate in the case of an employee amounts to $ 800 or more no return of payments to such employee is required for 1917 . Payments made by branches of business houses located ...
... fair monthly wage , and unless yearly payment based on this estimate in the case of an employee amounts to $ 800 or more no return of payments to such employee is required for 1917 . Payments made by branches of business houses located ...
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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.