Internal Revenue. Hearing ... May 9-27, 19211921 - 789 pages |
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American amount Association automobile average believe billion burden cent tax CHAIRMAN CLARK collected committee commodities Congress consumer consumption consumption tax corporation cost dealer distributed dividends dollars earnings estimate excess excess-profits tax excise taxes exemption expense fact farmers favor Federal figures flat tax going Government grape juice HANCH imposed income tax increase individual industry Internal Revenue land values tax levied luxury taxes manufacturer MCKENZIE merchant National paid passed Philippine present tax production Prof profits tax proposed question raise reduced repeal represent retail sales or turnover securities selling Senator DILLINGHAM Senator JONES Senator LA FOLLETTE Senator MCCUMBER Senator MCLEAN Senator SIMMONS Senator SMOOT Senator WALSH Senator WATSON shifted sold statement stockholders sumer surtaxes tax law tax-exempt taxable taxation taxpayer thing tion to-day transactions Treasury turnover sales tax turnover tax undistributed United WILFLEY
Popular passages
Page 391 - All of the expenses of the commission, including all necessary expenses for transportation incurred by the commissioners or by their employees under their orders, in making any investigation, or upon official business in any other places than in the city of Washington, shall be allowed and paid on the presentation of itemized vouchers therefor approved by the commission.
Page 568 - 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 500 - In the case of a resident, by deducting from the value of the gross estate — ******* (3) The amount of all bequests, legacies, devises, or transfers, to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes...
Page 391 - A vacancy in the Board shall not impair the right of the remaining members to exercise all the powers of the Board, and three members of the Board shall, at all times, constitute a quorum. The Board shall have an official seal which shall be judicially noticed.
Page 391 - ... to employ and fix the compensation of such attorneys, special experts, examiners, clerks, and other employees as it may from time to time find necessary for the proper performance of its duties and as may be from time to time appropriated for by Congress.
Page 73 - The dogmas of the quiet past are inadequate to the stormy present. The occasion is piled high with difficulty, and we must rise with the occasion. As our case is new, so we must think anew, and act anew. We must disenthrall ourselves, and then we shall save our country.
Page 496 - The net income of the estate or trust shall be computed in the same manner and on the same basis as provided In section 212...
Page 526 - When property is exchanged for other property, the property received in exchange shall for the purpose of determining gain or loss be treated as the equivalent of cash to the amount of its fair market value, if any...
Page 496 - ... any part of the gross income which, pursuant to the terms of the will or deed creating the trust...
Page 497 - That for the purpose of the tax the value of the net estate shall be determined— (a) In the case of a resident, by deducting from the value of the gross estate...