Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924 |
From inside the book
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Page viii
... claiming deple- tion of timber_ . 2X8 82 82 83 236. Determination of fair market value of timber . 237. Determination of quantity of timber_ . BB 83 84 84 238. Aggregating timber and land for purposes of valuation and accounting_- . 85 ...
... claiming deple- tion of timber_ . 2X8 82 82 83 236. Determination of fair market value of timber . 237. Determination of quantity of timber_ . BB 83 84 84 238. Aggregating timber and land for purposes of valuation and accounting_- . 85 ...
Page xiv
... Claims in abatement . 225 Section 280. Taxes under prior acts_ 227 Article 1291. Assessment and collection of taxes ... Claims by collectors ___- 230 1304. Claims for credit of taxes erroneously collected_ 231 1305. Action on claims for ...
... Claims in abatement . 225 Section 280. Taxes under prior acts_ 227 Article 1291. Assessment and collection of taxes ... Claims by collectors ___- 230 1304. Claims for credit of taxes erroneously collected_ 231 1305. Action on claims for ...
Page xv
... claims previously denied under its provisions 244 1353. Claims for refund of sums recovered by suit_ . 245 Section 1017. Penalties 246 Article 1381. Interest on judgments- Article 1361. Specific penalties__ Section 1019. Interest on ...
... claims previously denied under its provisions 244 1353. Claims for refund of sums recovered by suit_ . 245 Section 1017. Penalties 246 Article 1381. Interest on judgments- Article 1361. Specific penalties__ Section 1019. Interest on ...
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... Claim for allowance of net loss____ 293 294 295 1623. Net loss and capital net gain or capital net loss_- 296 1624. Net losses under preceding act ----- 296 1625. Net losses of partnerships , estates and trusts , and in- surance ...
... Claim for allowance of net loss____ 293 294 295 1623. Net loss and capital net gain or capital net loss_- 296 1624. Net losses under preceding act ----- 296 1625. Net losses of partnerships , estates and trusts , and in- surance ...
Page 6
... claims , or by exploring and discovering undeveloped claims , has demonstrated the principal value of mines , oil or gas wells , which prior to his efforts 6 $ 211 INCOME TAX REGULATIONS Computation of surtax__ Surtax on sale of mineral ...
... claims , or by exploring and discovering undeveloped claims , has demonstrated the principal value of mines , oil or gas wells , which prior to his efforts 6 $ 211 INCOME TAX REGULATIONS Computation of surtax__ Surtax on sale of mineral ...
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Common terms and phrases
addition amended assessed assets basic date basis beneficiary calendar cent centum certificates certificates of indebtedness citizen claim collected collector Commissioner computing net income cost December 31 deductible from gross deductions allowed deficiency depletion deposit depreciation determined distraint distribution dividends domestic corporation duction employees entitled estate or trust excess-profits taxes exemption expenses fair market value February 28 fiduciary filed foreign corporation gain or loss gross income included income from sources income tax installment insurance companies interest Internal Revenue inventory Liberty Bond Liberty loan mineral nonresident alien individual notice and demand office or place operating paragraph partnership payment period person place of business preferred stock prescribed prior provided in section purchase purpose received reserve resident Revenue Act section 262 shareholders statute and articles stock or securities surtax tax imposed taxable taxpayer thereof timber tion trade or business Treasury United vidual war-profits withholding agent
Popular passages
Page 11 - Columbia, the compensation received as such), 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 from any source whatever.
Page 44 - SEC. 214 (a) (3) Taxes paid or accrued within the taxable year except (A) income, war-profits, and excessprofits taxes imposed by the authority of the United States, (B) so much of the income, warprofits, and excess-profits taxes, imposed by the authority of any foreign country or possession of the United allowed as a credit against the tax under section 131; and (3) taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 137 - 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 161 - ... (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 as determined under the provisions of this section...
Page 263 - If a corporation cancels or redeems its stock (whether or not such stock was issued as a stock dividend) at such time and in such manner as to make the distribution and cancellation or redemption in whole or in part essentially equivalent to the distribution of a taxable dividend...
Page 44 - States) ; (3) estate, inheritance, legacy, succession and gift taxes; and (4) taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 201 - States — • (1) If 80 per centum or more of the gross income of such citizen or domestic corporation (computed without the heneflt of this section), for the three-year period immediately preceding the close of the taxable year (or for such part of such period immediately preceding the close of such taxable year as may be applicable) was derived from sources within a possession of the United States...
Page 278 - If the property was acquired after December 31, 1920, by a transfer in trust (other than by a transfer in trust by a gift, bequest, or devise) the basis shall be the same as it would be in the hands of the grantor, increased in the amount of gain or decreased in the amount of loss recognized to the grantor upon such transfer under the law applicable to the year in which the transfer was made.
Page 301 - 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 95 - For gains, profits, and income from the sale of personal property, see subsection (e). "(b) NET INCOME FROM SOURCES IN UNITED STATES. — From the items of gross income specified in subsection (a) of this section there shall be deducted the expenses, losses, and other deductions properly apportioned or allocated thereto and a ratable part of any expenses, losses, or other deductions which can not definitely be allocated to some item or class of gross income.