Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932 |
From inside the book
Results 1-5 of 69
Page 11
... fact that ordinarily it is to be computed in accordance with the method of accounting regularly employed in keeping the books of the tax- payer . ( See section 41. ) The net income of corporations is determined in general in the same ...
... fact that ordinarily it is to be computed in accordance with the method of accounting regularly employed in keeping the books of the tax- payer . ( See section 41. ) The net income of corporations is determined in general in the same ...
Page 23
... fact that the dividends and interest are paid by the lessee directly to the shareholders and bondholders of the lessor . The fact that a corporation has conveyed or let its property and has parted with its management and control , or ...
... fact that the dividends and interest are paid by the lessee directly to the shareholders and bondholders of the lessor . The fact that a corporation has conveyed or let its property and has parted with its management and control , or ...
Page 38
... fact payments purely for services . This test and its practical application may be further stated and illustrated as follows : ( 1 ) Any amount paid in the form of compensation , but not in fact as the purchase price of services , is ...
... fact payments purely for services . This test and its practical application may be further stated and illustrated as follows : ( 1 ) Any amount paid in the form of compensation , but not in fact as the purchase price of services , is ...
Page 51
... facts will be sufficient evidence of the worthlessness of the debt for the purpose of deduction . Bankruptcy is generally an indication of the worthlessness of at least a part of an unsecured and unpreferred debt . Actual determination ...
... facts will be sufficient evidence of the worthlessness of the debt for the purpose of deduction . Bankruptcy is generally an indication of the worthlessness of at least a part of an unsecured and unpreferred debt . Actual determination ...
Page 52
... fact that bankruptcy proceedings instituted against the debtor are terminated in a later year , confirming the conclusion that the debt is worthless , will not authorize shifting the deduction to such later year . If a taxpayer computes ...
... fact that bankruptcy proceedings instituted against the debtor are terminated in a later year , confirming the conclusion that the debt is worthless , will not authorize shifting the deduction to such later year . If a taxpayer computes ...
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Common terms and phrases
acquired adjustment allocated applicable assessment basis beneficiary Board bonds capital net gain cent centum in addition claim collector Commissioner compensation computing net income cost December 31 deductible from gross deficiency depletion deposit determined distraint distribution District of Columbia dividends domestic corporation employees entitled exchange expenses fair market value February 28 fiduciary filed foreign corporation gain or loss gross income included in gross income from sources income tax incomes in excess insurance companies interest Internal Revenue inventory lessor liability Liberty bond Liberty loan ment method mineral nonresident alien individual normal tax obligations officer paid or accrued paragraph partnership payment period prescribed production profits provided in section purchased purpose reasonable refund resident respect return of income Revenue Act section 23 shareholder sold stock or securities surtax tax imposed taxable taxpayer thereof tion trade or business transfer trust instrument
Popular passages
Page 11 - Gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service, of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income derived...
Page 138 - ... 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...
Page 166 - No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment.
Page 164 - If property (as a result of its destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation, or the threat or imminence thereof...
Page 170 - ... a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor or its stockholders or both are in control of the corporation to which the assets are transferred, or (C) a recapitalization, or (D) a mere change in identity, form, or place of organization, however effected. (2) The term "a party to a reorganization...
Page 194 - If a corporation cancels or redeems its stock (whether or not such stock was issued as a stock dividend) at such time and in such manner as to make the distribution and cancellation or redemption in whole or in part essentially equivalent to the distribution of a taxable dividend...
Page 139 - ... 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 54 - In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant.
Page 112 - BASIS. (a) DEALERS IN PERSONAL PROPERTY. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment payments actually received in that year which the gross profit realized or to be realized when payment is completed, bears to the total contract price.
Page 224 - ... paid by such foreign corporation to any foreign country or to any possession of the United States, upon or with respect to the accumulated profits of such foreign corporation from which such dividends were paid, which the amount of such dividends bears to the amount of such accumulated profits...