Income Tax ProcedureRonald Press Company, 1920 - Excess profits tax |
From inside the book
Results 1-5 of 100
Page 15
... that earned income may be more lightly taxed , and elimina- tion of some of the extreme variations in the tax through a system of averaging or some similar method . Differentiation between capital and income . - The tax is INTRODUCTORY 15.
... that earned income may be more lightly taxed , and elimina- tion of some of the extreme variations in the tax through a system of averaging or some similar method . Differentiation between capital and income . - The tax is INTRODUCTORY 15.
Page 19
... method to a narrower field . The reasons for the contemplated change , however , cannot for the most part be fairly urged against an average system as such . For example , the present English practice is to de- termine tax liability for ...
... method to a narrower field . The reasons for the contemplated change , however , cannot for the most part be fairly urged against an average system as such . For example , the present English practice is to de- termine tax liability for ...
Page 43
... method of reporting the amount received by the assured under an endowment or can- celled policy in excess of premiums paid . As is apparent from the regulations quoted above , the Treasury holds that the en- tire amount received in ...
... method of reporting the amount received by the assured under an endowment or can- celled policy in excess of premiums paid . As is apparent from the regulations quoted above , the Treasury holds that the en- tire amount received in ...
Page 87
... method of report- ing to the United States , personal service corporations would be taxed.20 Partnership returns.— LAW . Section 224. That every partnership shall make a return for each taxable year , stating specifically the items of ...
... method of report- ing to the United States , personal service corporations would be taxed.20 Partnership returns.— LAW . Section 224. That every partnership shall make a return for each taxable year , stating specifically the items of ...
Page 147
... method spreads the excess profits tax actually imposed at 1918 and 1919 rates equally over the entire fiscal year . Consequently , the income tax under form 1120A is greater than the proper amount by 2 per RATES AND COMPUTATION OF TAX · ...
... method spreads the excess profits tax actually imposed at 1918 and 1919 rates equally over the entire fiscal year . Consequently , the income tax under form 1120A is greater than the proper amount by 2 per RATES AND COMPUTATION OF TAX · ...
Contents
23 | |
25 | |
61 | |
77 | |
107 | |
112 | |
138 | |
158 | |
195 | |
208 | |
220 | |
237 | |
249 | |
251 | |
267 | |
290 | |
292 | |
328 | |
334 | |
339 | |
349 | |
358 | |
359 | |
390 | |
399 | |
419 | |
423 | |
441 | |
444 | |
447 | |
481 | |
625 | |
668 | |
670 | |
684 | |
692 | |
710 | |
738 | |
764 | |
797 | |
807 | |
855 | |
874 | |
882 | |
891 | |
894 | |
919 | |
1006 | |
1008 | |
1039 | |
1073 | |
1185 | |
Other editions - View all
Common terms and phrases
accrued alien individual allowable deduction amortization amount apply assessed assets basis calendar capital stock cash cent certificates charged claim collector Commissioner compensation computed cost Court December 31 dends depletion depreciation determined distribution employees excess profits tax expenses fair market value February 28 federal fiduciary filed fiscal foreign corporation Former Procedure gross income imposed included income tax interest Internal Revenue inventory invested issued liability Liberty bonds Liberty Loan loss March net income non-resident alien nonresident normal tax owner par value partnership payment penalty period personal service corporation poration premiums prior purchase purpose rates refund REGULATION reported resident return of income RULING Section 214 securities shares statute stock dividends stockholders surplus surtax taxable income taxation taxes paid taxpayer thereof tion transaction Treasury trust United War Finance Corporation war profits withholding agent
Popular passages
Page 123 - ... 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; and any offense against the foregoing provision shall be a misdemeanor and be punished by a fine not exceeding $1,000 or by imprisonment not exceeding one year, or both...
Page 205 - An Act to provide revenue, equalize duties, and encourage the industries of the United States, and for other purposes," the Act of October 3, 1913, entitled "An Act to reduce tariff duties and to provide revenue for the Government, and for other purposes...
Page 495 - [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 536 - 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 692 - The necessity for a depreciation allowance arises from the fact that certain property used in the business gradually approaches a point where its usefulness is exhausted. The allowance should be confined to property of this nature. In the case of tangible property, it applies to that which is subject to wear and tear, to decay or decline from natural causes, to exhaustion, and to obsolescence...
Page 222 - ... 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 628 - In the case of an individual, losses sustained during the taxable year and not compensated for by insurance or otherwise — (1) if incurred in trade or business; or (2) if incurred in any transaction entered into for profit, though not connected with the trade or business...
Page 882 - 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 70 - ... in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income, the computation shall be made in accordance with such method as in the opinion of the Commissioner does clearly reflect the income.
Page 41 - ... amounts received, through accident or health insurance or under workmen's compensation acts, as compensation for personal injuries or sickness, plus the amount of any damages received whether by suit or agreement on account of such injuries or sickness...