Income Tax Accounting |
From inside the book
Results 1-5 of 18
Page 22
... fair market value , if readily realizable , of the thing taken in payment is the amount to be reported as income provided that if the services were rendered at a stipulated price , such price will be presumed to be the fair value of ...
... fair market value , if readily realizable , of the thing taken in payment is the amount to be reported as income provided that if the services were rendered at a stipulated price , such price will be presumed to be the fair value of ...
Page 28
... fair market value on that date should be used . If tenants construct buildings or improvements upon leased property , the title to which goes to the owner of the property at the termination of the lease , the value of such ...
... fair market value on that date should be used . If tenants construct buildings or improvements upon leased property , the title to which goes to the owner of the property at the termination of the lease , the value of such ...
Page 30
... fair market value of such property as found by the Commissioner as of the date or approximate date at which , according to the best information that the Commissioner is able to obtain , such property was acquired by such donor or last ...
... fair market value of such property as found by the Commissioner as of the date or approximate date at which , according to the best information that the Commissioner is able to obtain , such property was acquired by such donor or last ...
Page 31
... fair market value of such property as of March 1 , 1913 , whichever is greater . In determining the fair market value of stock in a corporation as of March 1 , 1913 , due regard shall be given to the fair market value of the assets of ...
... fair market value of such property as of March 1 , 1913 , whichever is greater . In determining the fair market value of stock in a corporation as of March 1 , 1913 , due regard shall be given to the fair market value of the assets of ...
Page 32
... value shall not ex- ceed 50 per centum of the net income ( computed without allowance for depletion ) from the ... fair market value of $ 10,000.00 . During the current year he sells the property to F. E. Moore for $ 14,000.00 ...
... value shall not ex- ceed 50 per centum of the net income ( computed without allowance for depletion ) from the ... fair market value of $ 10,000.00 . During the current year he sells the property to F. E. Moore for $ 14,000.00 ...
Common terms and phrases
accrued acquired allowable deductions amount received assessed assets Bad Debts Balance Sheet basis calendar capital stock cash centum in addition claim collected collector Commissioner compensation computed cost credits allowed December 31 depletion depreciation determined distraint distributed domestic corporation employees entitled estate or trust expenses fair market value February 28 file a return fiscal foreign corporation gain or loss gross income included in gross Income Tax Law Income Tax Return incomes in excess installment insurance company Internal Revenue inventory Item June 30 Liberty Bonds Liberty Loan months municipal bonds net income normal tax paragraph partnership payable payment penalty personal exemption preferred stock premiums prescribed profits provided in section provided in subdivision purchase real estate regulations reserve Revenue Act salaries Schedule section 216 separate return sold sources surtax tax imposed taxable income taxes paid taxpayer thereof tion trade or business United Western Publishing wife
Popular passages
Page 52 - Rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or Is not taking title or In which he has no equity.
Page 183 - The Commissioner of Internal Revenue, subject to regulations prescribed by the Secretary of the Treasury, is authorized to remit, refund, and pay back all taxes erroneously or illegally assessed or collected, all penalties collected without authority, and all taxes that appear to be unjustly assessed or excessive in amount, or in any manner wrongfully collected...
Page 15 - ... 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 159 - Income accumulated in trust for the benefit of unborn or unascertained persons or persons with contingent Interests, and Income accumulated or held for future distribution under the terms of the will or trust...
Page 155 - capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 46 - Whenever any State, Territory, or the District of Columbia, or any political subdivision of a State...
Page 169 - (b) NONRESIDENT ALIENS. — All persons, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of the United States, having the control...
Page 183 - No suit or proceeding shall be maintained in any court for the recovery of any internal-revenue tax alleged to have been erroneously or illegally assessed or collected, or of any penalty claimed to have been collected without authority, or of any sum alleged to have been excessive or in any manner wrongfully collected...
Page 112 - ... (B) from a foreign corporation unless less than 50 per centum of the gross income of such foreign corporation for the three-year period ending with the close of its taxable year preceding the declaration of such dividends (or for such part of such period as the corporation has been in existence) was derived from sources within the United States...
Page 175 - An Act to provide revenue, equalize duties, and encourage the industries of the United States, and for other purposes," approved August 5, 1909, the Act entitled "An Act to reduce tariff duties and to provide revenue for the Government, and for other purposes...