COMPARISON OF THE REVENUE ACTS OF 1926 AND 1928 WITH INDEX PREPARED FOR THE USE OF THE BY CLAYTON F. MOORE CLERK TO THE COMMITTEE UNITED STATES WASHINGTON 1928 373 Accounting Periods and Methods of Accounting (Part IV). China Trade Act Corporations (Supplement K). Assessment and Collection of Deficiencies (Suppl. L). Interest and Additions to Tax (Supplement M)- Miscellaneous Taxes (Title ÎÏ).... Admissions and Dues Tax (Part II) Claims Against Transferees and Fiduciaries (Suppl. N). Estate Tax (Part I)_ Excise Taxes (Part III). Special Taxes (Part IV) Stamp Taxes (Part V). Liquor Taxes (Part VI). Amendments to 1926 Income Tax (Title III) Administrative Provisions (Title IV) General Provisions (Title V) – – Supplement Provisions of 1926 Act not shown in Comparison.. Alphabetical Index___ 7 7 10 23 24 29 36 38 38 45 68 73 85 89 92 100 104 106 108 110 120 124 127 130 130 132 135 139 141 142 145 149 165 173 227 III FOREWORD The Revenue Act of 1928, in arrangement and typographical make-up, is a radical departure from the previous revenue acts. simplifies the form of the income tax by a more logical and convenient rearrangement, by a free use of bold-face heads and subheads, with indentures, and by making the income-tax title apply only to the taxable year 1927 and succeeding taxable years. The Revenue Act of 1928, moreover, does not repeal the previous act. Accordingly, the Revenue Act of 1926 remains in force, with such amendments as were thought necessary or desirable. With such a radical departure in the revenue law making policy, repetition of language and copious notes and footnotes can not be avoided in a comparison such as is here attempted. Likewise, to conserve space and composition, the indentures of the 1928 Act have been omitted. In other respects, the typographical make-up follows as nearly as possible, in reduced-size type, the composition of the 1928 Act. The order of comparison follows that of the Revenue Act of 1928, the corresponding provisions of the 1926 Act appearing in the opposite column. Notes, in smaller type, appearing below or opposite many of the provisions, are intended as a guide to specific changes. Amendments to the previous revenue acts are shown in stricken-through type, italics, and capitals, and are indicated by footnotes. The provisions of the 1926 Act not shown in the comparison, as well as those portions which are amended, appear in the supplement, with the proper references. To Leslie M. Rapp, assistant clerk to the committee, whose valuable suggestions and patient attention to the details involved contributed in a large measure to the early completion of this volume, grateful acknowledgment is made. Acknowledgment is also made to E. C. Alvord, of the Treasury Department, the staff of the Joint Committee on Internal Revenue Taxation, and legislative counsel of the House, for suggestions and assistance in reviewing the subject matter. CLAYTON F. MOORE, Clerk to the Committee. WASHINGTON, November 17, 1928. V |