Income Tax Accounting |
From inside the book
Results 1-5 of 27
Page 30
... paragraph shall not apply to the acquisition of such property interests as are specified in subdivision ( c ) or ( e ) of section 402 of the Revenue Act of 1921 or in subdivision ( c ) , ( d ) , or ( f ) of section 302 of this Act ; ( 4 ) ...
... paragraph shall not apply to the acquisition of such property interests as are specified in subdivision ( c ) or ( e ) of section 402 of the Revenue Act of 1921 or in subdivision ( c ) , ( d ) , or ( f ) of section 302 of this Act ; ( 4 ) ...
Page 31
... paragraph ( 4 ) of subdivision ( b ) of section 203 ( including , also , cases where part of the consideration for the transfer of such property to the corporation was property or money in addition to such stock or securities ) , then ...
... paragraph ( 4 ) of subdivision ( b ) of section 203 ( including , also , cases where part of the consideration for the transfer of such property to the corporation was property or money in addition to such stock or securities ) , then ...
Page 36
... paragraph shall apply only if the amount of the stock and securities received by each is substantially in proportion to his interest in the property prior to the exchange . ( 5 ) If property ( as a result of its destruction in whole or ...
... paragraph shall apply only if the amount of the stock and securities received by each is substantially in proportion to his interest in the property prior to the exchange . ( 5 ) If property ( as a result of its destruction in whole or ...
Page 37
... paragraph shall also apply to distribu- tions from depletion reserves based on the discovery value of mines . ( e ) Any distribution made by a corporation , which was classified as a personal service corporation under the provisions of ...
... paragraph shall also apply to distribu- tions from depletion reserves based on the discovery value of mines . ( e ) Any distribution made by a corporation , which was classified as a personal service corporation under the provisions of ...
Page 46
... paragraph in any taxable year shall not exceed $ 300 ; ( 11 ) The rental value of a dwelling house and appurtenances thereof furnished to a minister of the gospel as part of his compensation ; ( 12 ) The receipts of shipowners ' mutual ...
... paragraph in any taxable year shall not exceed $ 300 ; ( 11 ) The rental value of a dwelling house and appurtenances thereof furnished to a minister of the gospel as part of his compensation ; ( 12 ) The receipts of shipowners ' mutual ...
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...