Enfrocement and Administration of Internal Revenue Laws: Hearings... |
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Page 9
... present time many courts follow the doctrine laid down in Cohan v . Commissioner ( 39 Fed ( 2d ) 540 ) , under which the Court will approximate an amount allowable as a deduction , where it is reasonable to suppose that some expenses ...
... present time many courts follow the doctrine laid down in Cohan v . Commissioner ( 39 Fed ( 2d ) 540 ) , under which the Court will approximate an amount allowable as a deduction , where it is reasonable to suppose that some expenses ...
Page 10
... present time , section 54 states in broad language that the taxpayer shall keep such records as the Commissioner may require . This provision would amend section 54 to specify the types of information such records should contain by ...
... present time , section 54 states in broad language that the taxpayer shall keep such records as the Commissioner may require . This provision would amend section 54 to specify the types of information such records should contain by ...
Page 11
... present failures to keep records , when punished , can only be punished by criminal sanctions . This type of enforcement is proper in certain flagrant cases . However , it has proved of little value in many cases where the nature and ...
... present failures to keep records , when punished , can only be punished by criminal sanctions . This type of enforcement is proper in certain flagrant cases . However , it has proved of little value in many cases where the nature and ...
Page 12
... present has such authority with respect to excise and miscellaneous taxes . In the collection of income , estate , and gift taxes , notice and demand for pay- ment must be made at least 10 days before action is taken against the ...
... present has such authority with respect to excise and miscellaneous taxes . In the collection of income , estate , and gift taxes , notice and demand for pay- ment must be made at least 10 days before action is taken against the ...
Page 13
... present law , collectors may lawfully receive certified , cashiers ' or bank treasurers ' checks and specified types of money orders , in payment for stamp taxes and uncertified checks as well in payment of taxes other than stamp taxes ...
... present law , collectors may lawfully receive certified , cashiers ' or bank treasurers ' checks and specified types of money orders , in payment for stamp taxes and uncertified checks as well in payment of taxes other than stamp taxes ...
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Common terms and phrases
administration amount appear applicable assistance attorney authority bill Bureau of Internal Chairman Cohan collection collector compensation Congress COOPER correct counsel court criminal CURTIS DANNE debt December 27 deductions Democratic National Committee Democratic State Committee disallowance disclose DUNLAP enforcement estimated tax expenses Federal FORAND give Government gross income hereby amended imposed income-tax returns influence peddling interest Internal Revenue Code JENKINS jeopardy assessment jury trial KEAN legislation liability loan LYNCH MARTIN matter McLARNEY ment money order name and address nature and source notes notice offense overpayment paid payment penalty percent period of limitations person political committee prescribed problem provision question REED regulations representation respect revenue laws Reynolds ruling Secretary section 104 section 23 statement statute of limitations subcommittee suggest suit tax returns taxable taxpayer thereof thing tion title 18 Treasury Department United States Code
Popular passages
Page 3 - States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the commissioner under such regulations and in such form and manner and to such extent as may be prescribed by him with the approval of the Secretary...
Page 7 - Commissioner shall add to the tax 25 per centum of its amount, except that when a return is filed after such time and it is shown that the failure to file it was due to a reasonable cause and not to willful neglect, no such addition shall be made to the tax.
Page 4 - When necessary to make effective the provisions of this section the name and address of the recipient of income shall be furnished upon demand of the person paying the income.
Page 10 - Concurrent with the Court of Claims, of any suit or proceeding, commenced after the passage of the Revenue Act of 1921, for the recovery of any internal-revenue tax alleged to have been erroneously or illegally assessed or collected...
Page 6 - Act is amended by striking out "and" at the end of paragraph (2), by striking out the period at the end of paragraph (3) and inserting in lieu thereof "; and", and by adding...
Page 4 - Commissioner, for the purpose of ascertaining the correctness of any return or for the purpose of making a return where none has been made, is hereby authorized, by any revenue agent or inspector designated by him for that purpose, to examine any books, papers, records, or memoranda bearing upon the matters required to be included in the return, and may require the attendance of...
Page 3 - Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.
Page 10 - Sec. 3226. 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 9 - Commissioner renders a decision thereon within that time, nor after the expiration of two years from the date of mailing by registered mail by the Commissioner to the taxpayer of a notice of the disallowance of the part of the claim to which such suit or proceeding relates.
Page 3 - Commissioner) a reasonable addition to a reserve for bad debts; and when satisfied that a debt is recoverable only in part, the Commissioner may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction.