Income Tax Procedure ...Ronald Press Company, 1919 - Excess profits tax |
From inside the book
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Page xxiv
... INVESTED CAPITAL . COMPUTATION OF INVESTED CAPITAL : Rule for computing in- vested capital . Books of account need not reflect all adjustments . Reconciliation statement helpful . Tangible property which may be fully included in ...
... INVESTED CAPITAL . COMPUTATION OF INVESTED CAPITAL : Rule for computing in- vested capital . Books of account need not reflect all adjustments . Reconciliation statement helpful . Tangible property which may be fully included in ...
Page xxv
... invested capital . Assets must be reduced to actual values . ( When no provision has been made for depreciation . When appreciation becomes part of invested capital . When dimin- ished values need not be deducted from invested capital ...
... invested capital . Assets must be reduced to actual values . ( When no provision has been made for depreciation . When appreciation becomes part of invested capital . When dimin- ished values need not be deducted from invested capital ...
Page xxvi
... Invested capital and net income - pre - war period . Extension of time for filing returns by citizens residing or travel- ing abroad . ) Partnerships . Balance sheets required . ( Invested capital and net income - pre - war period ...
... Invested capital and net income - pre - war period . Extension of time for filing returns by citizens residing or travel- ing abroad . ) Partnerships . Balance sheets required . ( Invested capital and net income - pre - war period ...
Page xxvii
... invested capital . ) When stocks and tax - exempt bonds ( " inadmissible " assets ) were included as invested capital . Effect on invested capital - when dividends were held to be taxable at rates of prior years . ( The amount of a ...
... invested capital . ) When stocks and tax - exempt bonds ( " inadmissible " assets ) were included as invested capital . Effect on invested capital - when dividends were held to be taxable at rates of prior years . ( The amount of a ...
Page 22
... invested in the business . The tax was levied upon profits in excess of a stated deduction at rates which varied from 20 to 60 per cent , ac- cording to the percentage which those profits bore to the in- vested capital . In determining ...
... invested in the business . The tax was levied upon profits in excess of a stated deduction at rates which varied from 20 to 60 per cent , ac- cording to the percentage which those profits bore to the in- vested capital . In determining ...
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Common terms and phrases
accrual accrued actually allowable deductions amended amount received apply assessed assets basis bonds business expense calendar capital stock cash cent centum certificates Chapter charged claim collector Commissioner of Internal compensation computed cost December 31 decision dends distribution dividends received employees excess profits tax fair market February 28 fiscal Former Procedure gains gross income income tax law indebtedness individual interest paid Internal Revenue inventory invested issued liability Liberty bonds Liberty loan limited partnerships loss ment net income normal tax par value partners partnership payment penalty period personal service corporation poration premiums prior to March purchase purpose rates receipt recipient REGULATION reported ruling salaries securities shares stock dividends stockholders surplus surtax tax imposed tax paid tax returns tax-free taxable income taxation taxpayer thereof tion transaction Treasury treasury stock 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.