Individual Income Tax Provisions of the Internal Revenue Code (second Edition), Applicable to Taxable Years Beginning in 1944 Or Later: Compile for the Use of ... by Members of Its Staff
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accordance acquired additional adjusted allowed amount applicable approval assessment authorized basis beginning bond capital centum chapter claim close collection collector Commissioner computed considered contract corporation decision deduction deficiency defined described designated determined distribution District dividend division effect election employee evidence exceed excess exchange exemption expiration extent filed final gain gross income held included individual interest judge less liability limitation loss manner means ment months net income notice obligations officer operating otherwise paid paragraph payment performed period person personal holding company petition portion preceding prescribed presiding prior proceeding profits provided in section reason received regulations relating respect rules Secretary section 23 share shareholder sources specified Stat subchapter subsection Supplement Tax Court tax imposed taxable taxpayer term thereof tion transferee trust United unless wages withholding
Page 25 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 26 - ... 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 37 - No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for 'stock or securities in such corporation, and immediately after the exchange such person or persons are in control of the corporation...
Page 108 - ... engaged in trade or business within the United States and not having an office or place of business therein, from sources within the United States as interest (except interest on deposits with persons carrying on the banking business), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable annual or periodical gains, profits, and income...
Page 40 - Is subject to a liability, shall be disregarded, or (D) 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...
Page 113 - Notwithstanding the provisions of section 3653 (a) the making of such assessment or the beginning of such proceeding or distraint during the time such prohibition is in force may be enjoined by a proceeding in the proper court.
Page 46 - If the property was acquired, after February 28. 1913, upon an exchange described In section 112 (b) to (e). Inclusive, the basis shall be the same as In the case of the property exchanged, decreased In the amount of any money received by the taxpayer and Increased In the amount of gain or decreased In the amount of loss to the taxpayer that was recognized upon such exchange under the law applicable to the year In which the exchange was made.
Page 37 - No gain or loss shall be recognized if stock or securities in a corporation a party to a reorganization are, in pursuance of the plan of reorganization, exchanged solely for stock or securities in such corporation or in another corporation a party to the reorganization...
Page 39 - ... to be received without the recognition of gain, but also of other property or money, then the gain, if any, to the recipient shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property.