Accounting Principles Underlying Federal Income Taxes: 1924 |
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Page 24
... filing of returns , and so forth . Since 1909 the regulations have been as follows : Date of Issue Designation Act of Regulations 31 1909 Dec. 3 , 1909 Regulations 33 1913 Jan. 5 , 1914 Regulations 33 ( Revised ) ... 1916 and 1917 Jan ...
... filing of returns , and so forth . Since 1909 the regulations have been as follows : Date of Issue Designation Act of Regulations 31 1909 Dec. 3 , 1909 Regulations 33 1913 Jan. 5 , 1914 Regulations 33 ( Revised ) ... 1916 and 1917 Jan ...
Page 27
... filed before admis- sion to practice stating that contingent fees will not be accepted without notification to the Department . The Department states that contingent fees will not generally be looked upon with favor . ( d ) Powers of ...
... filed before admis- sion to practice stating that contingent fees will not be accepted without notification to the Department . The Department states that contingent fees will not generally be looked upon with favor . ( d ) Powers of ...
Page 31
... filed tax returns ; in other years they filed informational returns , i . e . , returns showing the computation of partnership income and the amount credited to each partner's account . 1 " Invested capital " is , roughly , the net ...
... filed tax returns ; in other years they filed informational returns , i . e . , returns showing the computation of partnership income and the amount credited to each partner's account . 1 " Invested capital " is , roughly , the net ...
Page 77
... should govern rather than the valuation placed thereon by the corporation ( A. R. R. 403 ) . Amended returns could be filed by a taxpayer where liquidating dividends had been paid and included by him in taxable LIQUIDATING DIVIDENDS 77.
... should govern rather than the valuation placed thereon by the corporation ( A. R. R. 403 ) . Amended returns could be filed by a taxpayer where liquidating dividends had been paid and included by him in taxable LIQUIDATING DIVIDENDS 77.
Page 78
... filed , in which case the payment is an in- tercompany transfer of funds ( Sol . Op . 131 ) . PROPERTY DIVIDENDS Securities and other forms of property may be distributed as dividends to stockholders . Taxable income results and the ...
... filed , in which case the payment is an in- tercompany transfer of funds ( Sol . Op . 131 ) . PROPERTY DIVIDENDS Securities and other forms of property may be distributed as dividends to stockholders . Taxable income results and the ...
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Common terms and phrases
accrued acquired additional allowed amortization amount applied assessed assets bad debts balance bank basis beneficiary calendar capital stock centum claim collector Commissioner computed cost December 31 depletion distributed earnings employees excess profits tax exchange exempt expenses fair market fair value Federal filed fiscal foreign corporation fund gross income held included income exceeds income tax individual instalment intangibles interest paid inventory invested capital January lease liability Liberty Bonds Loan market value ment Municipal Bonds net income exceeds normal tax Number organization par value partnership payable payment period personal service corporation poration portion preferred stock premiums purchased received refund regulations reorganization Reserve for Depreciation Revenue Act rule salary securities shares sold stock dividend stockholders subdivision surplus surtax tax imposed tax return tax-free taxable income taxable profit taxes paid taxpayer thereof tion trust United
Popular passages
Page 58 - If the property was acquired by gift after December 31, 1920, the basis shall be the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift...
Page 414 - March 1, 1913; such reasonable allowance in all the above cases to be made under rules and regulations to be prescribed by the Commissioner, with the approval of the Secretary. In the case of leases the deductions allowed by this paragraph shall be equitably apportioned between the lessor and lessee...
Page 443 - That corporations which are affiliated within the meaning of this section may, for any taxable year beginning on or after January 1, 1922, make separate returns or, under regulations prescribed by the Commissioner with the approval of the Secretary, make a consolidated return of net income for the purpose of this title, in which case the taxes thereunder shall be computed and determined upon the basis of such return.
Page 422 - That the tax imposed by sections 2 10 and 211 shall apply to the income of estates or of any kind of property held in trust...
Page 446 - ... (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 392 - fiscal year" means an accounting period of twelve months ending on the last day of any month other than December. The term "taxable year...
Page 461 - ... possession of the United States; and ***** (3) If, in the case of such citizen, 50 per centum or more of his gross income (computed without the benefit of this section) for such period or such part thereof was derived from the active conduct of a trade or business within a possession of the United States either on his own account or as an employee or agent of another.
Page 427 - States, the amount of any such taxes paid or accrued during the taxable year to any possession of the United States; and (3) ALIEN RESIDENT OF UNITED STATES. — In the case of an alien resident of the United States, the amount of any such taxes paid or accrued during the taxable year...
Page 474 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer...
Page 412 - All Interest paid or accrued within the taxable year on Indebtedness, except on Indebtedness Incurred or continued to purchase or carry obligations (other than obligations of the United States Issued after September 24. 1917, and originally subscribed for by the taxpayer) the Interest upon which Is wholly exempt from the taxes Imposed by this chapter.