Federal Income, Estate and Gift Tax Laws, Correlated

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Callaghan and Company, 1944 - Gifts - 1242 pages

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Contents

222a
79
Oct
92
132b
99
145e
108
Recognition of gain or loss
112
Adjusted basis for determining gain or loss
113
Basis for depreciation and depletion
114
Distributions by corporations
115
Corporation dividends paid credit
116
Capital gains and losses
117
Loss from wash sales of stock or securities
118
Income from sources within United States
119
Unlimited deduction for charitable and other contributions
120
Deduction of dividends paid on certain pre ferred stock of certain corporations
121
Net operating loss deduction
122
Commodity credit loans
123
Amortization deduction
124
Amortizable bond premium
125
Income in respect of decedents
126
War losses
127
Recovery of unconstitutional federal taxes
128
Taxes of foreign countries and possessions
138
22a
141
147a
147
6c
179
Partnership not taxable
181
Tax of partners
182
Computation of partnership income
183
Credits against net income
184
Earned income
185
Taxes of foreign countries and possessions of United States
186
Partnership returns
187
Different taxable years of partner and partner ship
188
Net operating losses
189
Allowance of amortization deduction
190
new
191
Life insurance companies
201
Adjusted normaltax net income
202
Adjusted corporation surtax net income
203
Insurance companies other than life or mutual
204
Taxes of foreign countries and possessions
205
United States 206 Computation of gross income
206
Mutual insurance companies other than life or marine
207
Net operating losses
208
147b
231
116a
241
506j new
248
261a
261
Suspension of running of statute
277
272a
290
223b
331
275d
362
SUPPLEMENT CCREDITS AGAINST TAX 131 Taxes of foreign countries and possessions of United States
374
SUPPLEMENT DRETURNS AND PAYMENT OF TAX 141 Consolidated returns
384
141
387
Fiduciary returns
395
Withholding of tax at source
401
Payment of corporation income tax at source 145 Penalties
406
224a
411
Closing by Commissioner of taxable year 147 Information at source
414
Information by corporations
417
Returns of brokers
420
Collection of foreign items 151 Foreign personal holding companies
422
PanAmerican trade corporations SUPPLEMENT HNON RESIDENT ALIEN INDIVIDUALS
423
1939
437
711a 2 206a2
483
Tax on nonresident alien individuals
496
Gross income
500
Deductions
504
Deficiency dividendsCredits and refunds
506
Credits against net income 215 Allowance of deductions and credits 216 Credits against tax
508
Returns 218 Payment of tax 219 Partnerships
511
SUPPLEMENT IFOREIGN CORPORATIONS
513
Tax on foreign corporations 232 Deductions
514
Allowance of deductions and credits 234 Credits against tax 235 Returns
516
Payment of tax 237 Foreign insurance companies 238 Affiliation SUPPLEMENT EESTATES AND TRUSTS SUPPLEMENT JPOSSESSIONS OF T...
518
Failure to file return
552
120
559
Time extended for payment of tax shown
560
1939
577
Subchapter BDeclared Value ExcessProfits
600
States
603
Imposition of
618
Subchapter CExcess Profits on Navy Contracts
620
Method of collection
650
Transferred assets
656
SUPPLEMENT AEXCESS PROFITS CREDIT BASED
669
204
699
Tax on net income from certain sources
700
Publicity of returns
706
SUPPLEMENT BHIGHEST BRACKET AMOUNT
748
General rule
758
Excess profits creditAllowance
775
Definition of invested capital
794
Classification of provisions
801
Application of parts
802
Equity invested capital
804
Borrowed invested capital
818
Interest on jeopardy assessments
892
Additions to the tax in case of nonpayment
893
Penalties
894
Cross reference
895
General reliefConstructive average base
898
211e
922
Equity invested capital in special cases
937
Rate of
952
Appointment
965
Gross estate
979
Net estate
980
Credits against tax SUBPART IIRETURNS AND PAYMENT OF
986
Executors notice
992
a
993
Returns 822 Payment of
994
Duplicate receipts 824 Examination of return and determination of tax 825 Discharge of executor from personal liability
996
Collection of unpaid
998
Lien for
1002
Cross references SUPPLEMENT CLAIMS AGAINST TRANSFEREES FIDUCIARIES 900 Transferred assets 901 Notice of fiduciary relationship SU...
1004
SUBPART IVSPECIAL CLASSES OF RESIDENTS 850 Missionaries in foreign service 851 Citizens with estates in China SUPPLEMENT EXTENSI...
1006
Net estate
1008
Assessment and collection of deficiencies
1012
Jeopardy assessments
1013
Claims in abatement
1014
Bankruptcy and receiverships
1015
Period of limitation upon assessment and collection
1016
Suspension of running of statute
1017
Property within the United States 863 Property without the United States 864 Returns
1018
Additions to the tax in case of deficiency
1019
Cross reference SUPPLEMENT GDEFINITIONS 930 Executor net estate month collector 931 Cross references PART IVSUPPLEMENTAL PROVIS...
1020
Interest on deficiencies
1021
Procedure in general
1022
Additions to the tax in case of nonpayment
1023
Penalties
1024
Transferred assets
1025
Notice of fiduciary relationship
1026
Refunds and credits
1027
Laws made applicable
1028
Rules and regulations
1029
Definitions
1030
Publicity of returns CHAPTER 5BOARD OF TAX APPEALS Subchapter AOrganization Jurisdiction and Procedure
1031
Rate of
1056
158b
1059
Credits against
1062
Assessment collection and payment of tax 938 Publicity of returns
1064
CHAPTER 4GIFT TAX 1000 Imposition of
1070
Computation of
1073
132a
1075
Transfer for less than adequate and full con sideration
1080
Net gifts 1004 Deductions
1083
Gifts made in property
1087
Returns 1007 Records and special returns
1088
Payment of
1090
Provisions of special application to divisions
1118
Provisions of special application to trans ferees
1119
Publicity of proceedings
1120
Publication of reports
1121
Part 1ORGANIZATION AND JURISDICTION 1100 Status 1101 Jurisdiction 1102 Membership 1103 Organization
1131
Offices 1105 Times and places of meetings PART IIIMISCELLANEOUS PROVISIONS 1130 Employees 1131 Expenditures 1132 Disposition of fee...
1132
Date when Board decision becomes final
1134
Courts of review 1142 Petition for review 1143 Change of Commissioner 1144 Cross reference 1145 Bond to stay assessment and collection
1135
Refund credit or abatement of amounts disallowed SUBTITLE BMISCELLANEOUS TAXES CHAPTER 6CAPITAL STOCK 1200 Tax 1201 Exemp...
1136
Returns 1204 Publicity of returns 1205 Payment of tax 1206 Addition to the tax in case of delinquency 1207 Other laws applicable CHAPTER 7TA...
1138
Nontaxable transfers 1252 Definition of foreign trust 1253 Payment and collection 1254 Publicity of returns
1139
Other laws applicable
1148
Collection districts
1154
Receipts for taxes
1160
Overpayment of installment
1166
Interest on overpayments 500
1167
Net income
1172
SUBTITLE EPERSONNEL
1176
Suspension 3943 Bonds 3944 Salaries and office expenses allowed
1178
Payment of advertising stationery and postage expenses Subchapter BAccounts Records and Reports 3950 Charges and credits 3951 Quarterly reven...
1179
Subchapter CPowers and Duties 3961 Collection 3962 Completion of collections SEO 3964 Information and returns 3965 Administration of oaths an...
1180
Subchapter EDistraint Against Delinquent Collector 3975 Warrant of distress 3976 Sale of personal property 3977 Sale of real property 3978 Disposi...
1181
Retention of deputies pending appointment of successor collector 3997 Administration of oaths CHAPTER 43INTERNAL REVENUE AGENTS 400...
1182
CHAPTER 46MISCELLANEOUS PROVISIONS 4040 Posts of duty of employees in field service or traveling 4041 Issue of instructions regulations ...
1183
Statement of fees charges and allowances 4047 Penalties 4048 Extended application of penalties relating to mony internal revenue officers
1184
Authorization 5003 Appointment and compensation of staff
1185
Credits against net income
1192
Different taxable years
1193
Definition of foreign personal holding company
1198
Partial discharge of property
1203
Employees trusts
1204
Revocable trusts 167 Income for benefit of grantor 168 Taxes of foreign countries and possessions of United States 169 Common trust funds
1206
Net operating losses 171 Income of an estate or trust in case of divorce
1207
Allowance of amortization deduction 251 Income from sources within possessions of the United States
1209
PART IIIPOSTWAR REFUND OF EXCESS PROFITS
1210
Stock ownership
1212
Taxation in general 262 Credit against net income
1221
Single bond covering release of lien
1222
Period in which items of gross income included 107 Compensation for services rendered for
1228
Credits against the tax 264 Affiliation 265 Income of shareholders
1229
SUPPLEMENT REGULATED INVESTMENT COMPANIES
1232
Allocation of income and deductions
1238
Definition
1240
Cross references
1241
Copyright

Common terms and phrases

Popular passages

Page 299 - 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 140 - 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; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income...
Page 281 - 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 80 - In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in trust the allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance with the pertinent provisions of the instrument creating the trust, or, in the absence of such provisions, on the basis of the trust income...
Page 314 - If, during the taxable year, the recognized gains upon sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or the threat or imminence thereof) of property used in the trade or business and capital assets held for more than 6 months into other property or money, exceed the recognized losses from...
Page 268 - The allowance for depletion under section 23 (m) shall be, in the case of coal mines, 5 per centum, in the case of metal mines, 15 per centum, and, in the case of sulphur mines or deposits, 23 per centum, of the gross income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or incurred by the taxpayer in respect of the property.
Page 424 - There shall be allowed as an additional deduction in computing the net income of the estate or trust the amount of the income of the estate or trust for Its taxable year which is to be distributed currently...
Page 225 - If an exchange would be within the provisions of subsection (b) (1), (2), (3), or (5) of this section if it were not for the fact that the property received In exchange consists not only of property permitted by such paragraph to be received without the recognition of gain, but also of other property or money, then the gain, if any, to the recipient shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property.
Page 227 - If the corporation receiving such other property or money does not distribute It in pursuance of the plan of reorganization, the gain, if any, to the corporation shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property so received, which is not so distributed.
Page 502 - The income of a nonresident alien individual which consists exclusively of earnings derived from the operation of a ship or ships documented under the laws of a foreign country which grants an equivalent exemption to citizens of the United States and to corporations organized in the United States shall not be included in gross income and shall be exempt from taxation under this chapter.

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