Individual Income Tax Provisions of the Internal Revenue Code (second Edition), Applicable to Taxable Years Beginning in 1944 Or Later: Compile for the Use of ... by Members of Its Staff |
From inside the book
Results 1-5 of 70
Page 3
... computed without regard to the credits provided in sections 31 , 32 , and 35 , shall in no event exceed in the aggregate 90 per centum of the net income of the taxpayer for the taxable year . ( h ) ALTERNATIVE TAX.- For alternative tax ...
... computed without regard to the credits provided in sections 31 , 32 , and 35 , shall in no event exceed in the aggregate 90 per centum of the net income of the taxpayer for the taxable year . ( h ) ALTERNATIVE TAX.- For alternative tax ...
Page 11
... . - In the case of a sale or other disposition of property , the gain or loss shall be computed as provided in section 111 . ( g ) GROSS INCOME FROM SOURCES WITHIN AND WITHOUT 11 OF THE INTERNAL REVENUE CODE § 22 ( f )
... . - In the case of a sale or other disposition of property , the gain or loss shall be computed as provided in section 111 . ( g ) GROSS INCOME FROM SOURCES WITHIN AND WITHOUT 11 OF THE INTERNAL REVENUE CODE § 22 ( f )
Page 17
... 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 ...
... 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 ...
Page 21
... computed under section 122 . [ For net operating losses of estates and trusts , see section 170 . For net operating losses of partnerships , see section 189 . For nondeductibility in respect of foreign personal holding companies , see ...
... computed under section 122 . [ For net operating losses of estates and trusts , see section 170 . For net operating losses of partnerships , see section 189 . For nondeductibility in respect of foreign personal holding companies , see ...
Page 31
... computed under section 122 . the net operating [ For net operating losses of estates and trusts , see section 170 . For net operating losses of partnerships , see section 189 . For nondeductibility in respect of foreign personal holding ...
... computed under section 122 . the net operating [ For net operating losses of estates and trusts , see section 170 . For net operating losses of partnerships , see section 189 . For nondeductibility in respect of foreign personal holding ...
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Common terms and phrases
adjusted basis adjusted gross income amended amortization applicable approval assessment beneficiary bond capital assets centum certificate chapter claim collected collector Commissioner computed consent considered corporation credit or refund decedent December 31 deficiency defined in section determined distraint distribution district dividend election emergency facility employee estate or trust estimated tax exceed excess expiration extent February 28 fiduciary filed foreign personal holding gain or loss income tax installment interest internal revenue June 29 liability ment months net estate net income nonresident alien normal tax obligations operating loss overpayment paragraph partnership payment payroll period penalties personal holding company profits provided in section purposes regulations prescribed respect Revenue Act sale or exchange Secretary section 23 shareholder specified standard deduction Stat stock or securities subchapter subparagraph Supplement Tax Court tax imposed taxable year beginning taxpayer term thereof tion trade or business United wages withholding exemptions
Popular passages
Page 23 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 45 - ... shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.
Page 31 - ... it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 35 - No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for 'stock or securities in such corporation, and immediately after the exchange such person or persons are in control of the corporation...
Page 106 - ... engaged in trade or business within the United States and not having an office or place of business therein, from sources within the United States as interest (except interest on deposits with persons carrying on the banking business), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable annual or periodical gains, profits, and income...
Page 38 - Is subject to a liability, shall be disregarded, or (D) a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor or its...
Page 111 - Notwithstanding the provisions of section 3653 (a) the making of such assessment or the beginning of such proceeding or distraint during the time such prohibition is in force may be enjoined by a proceeding in the proper court.
Page 44 - If the property was acquired, after February 28. 1913, upon an exchange described In section 112 (b) to (e). Inclusive, the basis shall be the same as In the case of the property exchanged, decreased In the amount of any money received by the taxpayer and Increased In the amount of gain or decreased In the amount of loss to the taxpayer that was recognized upon such exchange under the law applicable to the year In which the exchange was made.
Page 35 - No gain or loss shall be recognized if stock or securities in a corporation a party to a reorganization are, in pursuance of the plan of reorganization, exchanged solely for stock or securities in such corporation or in another corporation a party to the reorganization...
Page 37 - ... 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.