Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp Taxes, Capital Stock Tax, Tax on Employment of Child Labor, Tax on Undistributed Profits
Callaghan, 1919 - 1023 pages
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accrued actual addition agent allowed amended amount apply assessed assets association authority bank basis bonds calendar cent certificates Chapter charged citizens claim collected collector Commissioner computed contract cost court deduction depreciation derived determined distributed dividends domestic earnings ending entire exceed excess exempt expenses fact fiduciary filed fiscal foreign corporation gains Government gross income held imposed included income tax individual interest invested capital issued Letter from Treasury liable limited loss March means month net income non-resident alien obligations operating organized otherwise owner paid partnership payment penalty period person present prior profits purchase reasonable received resident respect Revenue Act rule securities shares sources stamp statute stockholders taxable taxpayer term thereof tion trade transfer Treasury Department dated trust United unless withholding
Page 894 - gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property ; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income derived...
Page 893 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed 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...
Page 955 - ... or to permit any income return or copy thereof or any book containing any abstract or particulars thereof to be seen or examined by any person...
Page 907 - That every partnership shall make a return for each taxable year, stating- specifically the items of its gross income and the deductions allowed by this title, and shall include in the return the names and addresses of the individuals who would be entitled to share in the net income if distributed and the amount of the distributive share of each individual. The return shall be sworn to by any one of the partners.
Page 896 - Including those assessed against local benefits of a kind tending to Increase the value of the property assessed...
Page 276 - 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 903 - ... (c) In cases under paragraphs (1), (2), or (3) of subdivision (a) the tax shall be imposed upon the net income of the estate or trust and shall be paid by the fiduciary...
Page 953 - ... (2) In the payment of any contributions, a fractional part of a cent shall be disregarded unless it amounts to one-half cent or more, in which case it shall be increased to 1 cent.
Page 901 - There shall be included in computing the net income of each partner his distributive share, whether distributed or not, of the net income of the partnership for the taxable year, or, if his net income for such taxable year is computed upon the basis of a period different from that upon the basis of which the net income of the partnership...
Page 222 - All corporations, whether they expire by their own limitation, or are otherwise dissolved, shall nevertheless be continued for the term of three years from such expiration or dissolution bodies corporate for the purpose of prosecuting and defending suits by or against them, and of enabling them gradually to settle and close their...