Internal Revenue Cumulative Bulletin, Issue 2Department of the Treasury, Internal Revenue Service, 1974 |
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Common terms and phrases
Accordingly accumulated DISC income allowable amended annuity apply assets basis capital cash charitable circumstances described Code provides computing contribution corporation cost Court decedent December 31 deduction deemed distribution described in section determined dividend earnings and profits election employee erty exchange Excise Tax exempt expenses fair market value Federal income tax filed foreign fullers earth gain gift tax gross income Income Tax Regulations interest Internal Revenue Code Internal Revenue Service investment LIFO loan meaning of section ment method of accounting method of depreciation method of regulated nonresident alien operating organization paragraph payment percent person poration public utility property pursuant qualified received regulated accounting respect Revenue Ruling section 167 share shareholders subparagraph tax imposed Tax Regulations provides taxable taxpayer term tion trade or business transaction transfer treated trust United United States dollars vides
Popular passages
Page 95 - ... 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 96 - ... the acquisition by one corporation, in exchange solely for all or a part of its voting stock (or in exchange solely for all or a part of the voting stock of a corporation which is in control of the acquiring corporation...
Page 264 - ... Generally the relationship of employer and employee exists when the person for whom services are performed has the right to control and direct the individual who performs the services, not only as to the result to be accomplished by the work but also as to the details and means by which that result is accomplished. That is, an employee is subject to the will and control of the employer not only as to what shall be done but how it shall be done.
Page 228 - Secretary or his delegate may distribute, apportion, or allocate gross income, deductions, credits, or allowances between or among such organizations, trades, or businesses, if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any of such organizations, trades, or businesses.
Page 65 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate ; 3.
Page 65 - For the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body (including amounts paid for accident or health insurance) , or (B) For transportation primarily for and essential to medical care referred to in subparagraph (A).
Page 183 - States, there shall be deducted (for the purpose of computing the net income therefrom) the expenses, losses, and other deductions properly apportioned or allocated thereto and a ratable part of other expenses, losses, or other deductions which cannot definitely be allocated to some item or class of gross income.
Page 65 - The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
Page 79 - For purposes of this subtitle, the term "dividend" means any distribution of property made by a corporation to its shareholders — (1) Out of its earnings and profits accumulated after February 28, 1913, or (2) Out of its earnings and profits of the taxable year (computed as of the close of the taxable year without diminution by reason of any distributions made during the taxable year) , without regard to the amount of the earnings and profits at the time ihe distribution was made.
Page 33 - For purposes of this section, the term "charitable contribution" means a contribution or gift to or for the use of — (1) A State, a Territory, a possession of the United States, or any political subdivision of any of the foregoing, or the United States or the District of Columbia, but only if the contribution or gift is made for exclusively public purposes.