Revenue Act of 1924: Hearings Before the Committee on Finance, United States Senate, Sixty-eighth Congress, First Session on H.R. 6715, an Act to Reduce and Equalize Taxation, to Provide Revenue, and for Other Purposes, March 7-April 8, 1924

Front Cover
U.S. Government Printing Office, 1924 - 456 pages

What people are saying - Write a review

We haven't found any reviews in the usual places.

Other editions - View all

Common terms and phrases

Popular passages

Page 392 - Any Commissioner may be removed by the President for inefficiency, neglect of duty, or malfeasance in office.
Page 417 - The sovereignty of a State extends to everything which exists by its own authority or is introduced by its permission ; b*ut does it extend to those means which are employed by Congress to carry into execution powers conferred on that body by the people of the United States ? We think it demonstrable that it does not.
Page 413 - It is not enough to say that this particular case was not in the mind of the convention when the article was framed, nor of the American people when it was adopted. It is necessary to go...
Page 338 - If the property was acquired after December 31, 1920, by a corporation by the issuance of its stock or securities in connection with a transaction...
Page 42 - An Act to provide revenue, equalize duties, and encourage the industries of the United States, and for other purposes.
Page 24 - If in the case of any taxpayer, the Commissioner determines that there is a deficiency...
Page 17 - ... undertaking as a matter of business or for profit the collection of foreign payments of such interest or dividends by means of coupons, checks, or bills of exchange.
Page 418 - Constitution, but it may be not unreasonably said that th# preservation of the States, and the maintenance of their governments, are as much within the design and care of the Constitution as the preservation of the Union and the maintenance of the National Government.
Page 447 - It is admitted that there is no express provision in the Constitution that prohibits the general* government from taxing the means and instrumentalities of the States, nor is there any prohibiting the States from taxing the means and instrumentalities of that government. In both cases the exemption rests upon necessary implication...
Page 27 - B (relating to income taxes and gift taxes) is due to negligence or intentional disregard of rules and regulations (but without intent to defraud), there shall be added to the tax an amount equal to 5 percent of the underpayment.

Bibliographic information