Internal Revenue Service-Continued Income and excess profits taxes regulations (1939 IRC)-Continued Rate and computation of tax, 26 §§ 40.430-1-40.459 (e)-1 Foreign personal holding companies; exemption, 26 § 40.454-1 Installment basis taxpayers; election to accrue income, 26 §§ 40.- Investment companies, regulated; exemption, 26 § 40.454-1 Long-term contracts, taxpayers with income from; election respecting accounting, 26 §§ 455-1-40.455-5 Merchant Marine Act, corporations completing contracts under, 26 §§ 40.457-1, 40.457-2 Mining corporations: Nontaxable income. See Nontaxable income. Strategic minerals; exemption of corporations mining, 26 § 450-1 Natural gas operations; nontaxable income. See Nontaxable in come. Net income for taxable years, computation of: Average base period net income: Abnormalities during base period, 26 §§ 40.442-1-40.442-3 Alternative average base period net income, 26 § 40.442-4 Catastrophe by fire, storm, explosion, etc., during base period, 26 § 40.459 (b)-1 Change in products or services, 26 §§ 40.443—1—40.443–3 Increase in capacity for production or operation, 26 New corporations, 26 §§ 40.445-1, 40.445-2 Transition from war production and increase in peace- Excess profits net income: For taxable years ending after June 30, 1950, 26 §§ 40.433 (a)-1-40.433 (a)-3 For taxable years in base period, 26 §§ 40.433 (b)—1— 40.433 (b)-4 Newspaper operations, consolidation of; computation of net income, 26 § 40.459 (c)-1 Nontaxable income, from certain mining and timber operations, and from natural gas properties, 26 §§ 40.453-1-40.453-7 Personal holding companies; exemption, 26 § 40.454-1 Personal service corporations; taxability, 26 §§ 40.449-1-40.449-3 Public utilities, regulated; excess profits credit, 26 §§ 40.448-1— 40.448-3 Rates of tax, 26 § 40.430-2 Strategic and critical materials: Companies manufacturing peacetime products from 26 § 40.459 (f)-1 Corporations mining, 26 § 40.450–1 Tax liability; adjustments in case of position inconsistent with prior income tax liability, 26 §§ 40.452-1-40.452-5 Internal Revenue Service—Continued Income and excess profits taxes regulations (1939 IRC) —Continued Rate and computation of tax-Continued Television broadcasting companies; computation of net income, 26 §§ 40.459 (d)-1-40.459 (d)-6 Timber operations, certain; nontaxable income. See Nontaxable income. Foreign corporations: Income tax provisions respecting. See Income tax. Returns of information with respect to; form, contents, place of filing, etc., 26 Part 20 Foreign countries, certain, taxation pursuant to treaties with. See Treaties Husband and wife, income tax regulations affecting. See Income tax. Accounting; methods and periods (fiscal year, calendar year, etc.), 26 §§ 39.41-39.48 Change of accounting period, 26 § 39.46-1 Computation of net income; bases and accounting methods and periods in general, 26 §§ 39.41-1-39.41-4 Controlled taxpayer; determination of net income of, 26 § 39.45–1 Deductions and credits, period for which taken, 26 §§ 39.43–1, 39.43-2 Definitions, 26 § 39.48 Gross income, period for inclusion of items of, 26 §§ 39.42-1— 39.42-7 Long-term contracts, 26 § 39.42-4 Non-interest-bearing obligations issued at discount, 26 § 39.42-6 Receipt, constructive, 26 § 39.42-3 Short-term obligations issued on discount basis, 26 § 39.42–7 Trading stamps, redemption of; subtraction for, 26 § 39.42-5 Returns for periods of less than twelve months, 26 §§ 39.47-1, 39.47-2 Sales of personal or real property; installment sales of property, obligations, etc., 26 §§ 39.44-1-39.44-5 Gain or loss upon disposition of installment obligations, 26 § 39.44-5 Addition to tax; penalty for delinquency. See Penalties. Adjusted gross income. See Gross income. Adjustments pursuant to determinations under income tax laws, 26 Ascertainment of amount of, 26 § 39.3801 (d)-1 Correlative deductions and inclusions in net income of estates Disallowed deductions or credits, 26 § 39.3801 (b)-9 Double allowance of a deduction or credit, 26 § 39.3801 (b)-2 Exclusions, required, 26 § 39.3801 (b)-10 Inconsistent position: Existence of status of related taxpayer at time of first maintenance of, 26 § 39.3801 (b)-8 Operation dependent upon maintenance of, 26 § 39.3801 (b)-7 Law applicable in determination of error, 26 § 39.3801 (b)-6 Internal Revenue Service-Continued Income and excess profits taxes regulations (1939 IRC)-Continued Income tax; taxable years beginning after December 31, 1951, 26 Part 39-Con. Determinations, 26 §§ 39.3801 (a) (1)-2-39.3801 (a) (1)-4 Employment taxes, provisions not applicable to, 26 § 39.3801 (g) Years prior to 1932, no adjustment for, 26 § 39.3801 (f) Administrative provisions, 26 §§ 39.3604-39.3795 See also Adjustments; and Definitions. Authority to administer oaths, take testimony, and certify, 26 § 39.3632 Carrybacks: Extension of time for corporations expecting carrybacks, 26 Tentative carryback adjustments, 26 §§ 39.3780, 39.3781 Fractional parts of a cent, 26 § 39.3658 General provisions; payment of tax by check, United States notes, certificates, bills, etc., 26 §§ 39.3653-39.3657 Compromises, 26 § 39.3761 Credits, abatements, refunds, 26 §§ 39.3770-39.3777 Distraint proceedings; proceedings, disposition of distrained prop- Enforcement of liability for taxes collected or withheld, 26 § 39.3661 Expenses of detection and punishment of frauds, 26 § 39.3792 Interest on delinquent taxes; 6%, 26 § 39.3794 Laws made applicable, 26 § 39.61 Liability, tax. See Tax liability. Liens for taxes; release, partial discharge of property, etc., 26 §§ 39.3670-39.3680 Oaths, authority to administer, 26 § 39.3632 Penalties: Concealment of property, withholding of records, etc.; pen- Disclosure of information by officers and employees of United Fraudulent bonds, permits, and entries; penalties and for- Perjury in returns; penalties, 26 § 39.3809 Real estate acquired by United States, administration of, 26 § 39.3795 Refunds, abatements, credits, 26 §§ 39.3770-39.3777 Review, administrative, of Commissioner's decisions, prohibition of, 26 § 39.3790 Rules and regulations; Commissioner to prescribe and publish, 26 §§ 39.62, 39.3791, 39.4041 Statistics, publication of, 26 § 39.63 Suits by United States, 26 §§ 39.3740-39.3748 Summons, jurisdiction of district courts to enforce, etc., 26 § 39.3633 Tax liability: Determination of, 26 §§ 39.3612-39.3617 Discovery of, 26 §§ 39.3604-39.3604-3 Enforcement of liability for taxes collected or withheld, 26 § 39.3661 Testimony, authority to take, 26 § 39.3632 Internal Revenue Service-Continued Income and excess profits taxes regulations (1939 IRC)-Continued Alimony, etc., payments. See Husband and wife, special provisions Applicability of regulations, scope, etc.; introductory provisions, 26 §§ 39.1-39.4 Special classes of taxpayers (estates and trusts, partnerships, insurance companies, foreign corporations, investment companies, personal service companies, etc.), application of regulations to, 26 § 39.4-1 Armed forces: Abatement of tax for certain members of armed forces, on death, 26 § 39.154 Definitions, 26 § 39.3797-11 Exclusion of certain allowances and payments from gross income, 26 §§ 39.22 (b) (13), 39.22 (b) (14) Residence; gain from sale or exchange of, 26 §§ 39.112 (n), 39.112 (n)-1 (f) Banks and trust companies, etc.: Deductions, etc. See Computation of net income. Joint-stock land banks; obligations and mortgages issued by, not tax-exempt, 26 § 39.3799 Rates of tax, 26 §§ 39.104–1, 39.104-2, 39.110-1 Blind individuals: Deductions for (repealed), 26 § 39.23 (y), note Exemptions for, 26 § 39.25–2 (d) Bridges acquired by States or political subdivisions; exclusion of certain income from gross income, 26 § 39.116 (e) Carry-backs: Extension of time for corporations expecting, 26 § 39.3779 Tentative carry-back adjustments, 26 § 39.3780 Charitable organizations; tax exemption. See Tax-exempt corporations. Child, income from services of; computation of income, 26 § 39.22 (m)-1 China Trade Act corporations, 26 §§ 39.261-39.265 Dividends of; exclusion from gross income, 26 §§ 39.22 (b) (8), 39.116 (f) Postponement of income tax due dates in case of, 26 § 39.3805 Claims: Against transferees and fiduciaries, 26 §§ 39.311-1, 39.312-1 Against United States, involving acquisition of property; surtax on, 26 § 39.106-1 Closing agreements and compromises, 26 § 39.3760–1 Collections: See also Returns and payment of tax. General provisions, 26 §§ 39.3653-39.3661 Computation of net income, 26 §§ 39.21-39.28, 39.111-39.130A-5 Child; income from services of, 26 § 39.22 (m)-1 Commodity Credit loans; election to include loans in income, etc., 26 §§ 39.123-1, 39.123-2 Credits against net income, 26 §§ 39.25-39.28 (j) Corporations: Bank affiliates, earnings or profits of, 26 § 39.26 (d) Internal Revenue Service—Continued Income and excess profits taxes regulations (1939 IRC)—Continued Income tax; taxable years beginning after December 31, 1951, 26 Part 39—Con. Dividends paid on preferred stock of public utilities, etc., Dividends received, 26 § 39.26 (b) Interest on obligations of United States, 26 § 39.26 (a) Western Hemisphere trade corporations; percentage of Individuals; credits for purpose of normal tax and surtax (credit for dependents, personal exemption, etc.), 26 §§ 39.25-1, 39.25-2 Public utilities; credit for dividends paid on preferred stock, 26 § 39.26 (h)-1 Withholding of tax on wages at source, credit for, 26 Decedents, income in respect of, 26 §§ 39.126 (a)-39.126 (c)-1 Acquisitions to evade or avoid income or excess profits tax, Alimony; periodic payments, 26 § 39.23 (u)-1 Bad debts; securities, nonbusiness debts, uncollectible deficiency upon sale of mortgaged property, etc., 26 §§ 39.23 (k)—1—39.23 (k)-6 Recovery, 26 § 39.22 (b) (12) Banks, building and loan associations, etc.: Dividends paid, 26 § 39.23 (r) Repayment of certain loans, 26 § 39.23 (dd) Blind individuals; special deduction for, 26 § 39.23 (y)-1 Capital expenditures, not deductible, 26 § 39.24 (a)-2 Contributions, 26 §§ 39.23 (n)-39.23 (q)-1 By corporations, 26 § 39.23 (q)-1 By individuals, 26 § 39.23 (0)-1 To religious, scientific, charitable, etc., organizations; Employers contributions to employees' trusts, pension and annuity plans, etc., 26 §§ 39.23 (p)-1-39.23 (p)-12 Cooperative apartment corporation; amounts representing taxes and interest paid to, 26 § 39.23 (z)−1 Dental expenses, 26 § 39.23 (x)-1 Depletion, of mines, oil and gas wells, timber, etc. (including improvements), 26 §§ 39.23 (m)-1-39.23 (m)-28 Depreciation: See also Depletion Allowances for exhaustion, wear and tear, and obsolescence of various types of property (trade or business property, patents, copyrights, farm property, livestock, investment property, etc.), 26 §§ 39.23 (1)-1-39.23 (1)-10 Dividends: On preferred stock of certain corporations, 26 § 39.121 Paid by banking corporations (mutual savings banks, savings and loan associations, cooperative banks, and others), 26 § 39.23 (r) |