Legislative History of the Internal Revenue Code of 1954: Covering All Changes Made in the Code from the Date of Its Enactment on August 16, 1954, to the End of the First Session of the 89th Congress in 1965-together with Effective Dates and Applicability, Pertinent Ancillary Provisions, Explanatory and Historical Notes, Tables and Appendixes, and a Cumulative Supplement, Volumes 8-11 |
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Page 35
... period before the effective date of the change , and the rate for the period on and after such date , to the taxable income for the entire taxable year ; and " ( 2 ) the tax for such taxable year shall be the sum of that proportion of ...
... period before the effective date of the change , and the rate for the period on and after such date , to the taxable income for the entire taxable year ; and " ( 2 ) the tax for such taxable year shall be the sum of that proportion of ...
Page 65
... period during such taxable year for which the employee receives such insurance , and ( 3 ) the cost of any group - term life insurance which is pro- vided under a contract to which section 72 ( m ( ( 3 ) applies . " ( c ) DETERMINATION ...
... period during such taxable year for which the employee receives such insurance , and ( 3 ) the cost of any group - term life insurance which is pro- vided under a contract to which section 72 ( m ( ( 3 ) applies . " ( c ) DETERMINATION ...
Page 68
... period , if such amounts are at a rate which exceeds 75 percent of the regular weekly rate of wages of the employee ( as determined under regulations prescribed by the Secretary or his delegate ) . If amounts attributable to the first ...
... period , if such amounts are at a rate which exceeds 75 percent of the regular weekly rate of wages of the employee ( as determined under regulations prescribed by the Secretary or his delegate ) . If amounts attributable to the first ...
Page 70
... period as so suspended shall not extend beyond the date four years after the date of the sale of the old residence . For the pur- pose of this paragraph , the term " extended active duty " means any period of active duty pursuant to a ...
... period as so suspended shall not extend beyond the date four years after the date of the sale of the old residence . For the pur- pose of this paragraph , the term " extended active duty " means any period of active duty pursuant to a ...
Page 95
... periods on and after the changeover date and before the taxpayer's 1956 adjustment date . This subsection shall apply only with respect to taxable years beginning after Decem- ber 31 , 1955 . " ( e ) EFFECT ON PERIOD FROM CHANGEOVER TO ...
... periods on and after the changeover date and before the taxpayer's 1956 adjustment date . This subsection shall apply only with respect to taxable years beginning after Decem- ber 31 , 1955 . " ( e ) EFFECT ON PERIOD FROM CHANGEOVER TO ...
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Common terms and phrases
78 Stat added by P.L. adjusted amended by P.L. Amended Sec Amended the table amounts paid Applicability apply with respect August 16 beginning after December certificate computed Cross references date of enactment December 31 deduction defined in section delegate described in section determined distribution Effective Date election employee end thereof exceed excess exempt filed follows 68A Stat foreign corporation gross income imposed by section IMPOSITION OF TAX individual inserting in lieu Internal Revenue Code January July June 21 June 30 lieu thereof originally read payment percent period personal holding company purposes read as follows redesignated regulations prescribed relating Repealed revised sale or exchange Secretary Sept service performed shareholder Social Security Act sold striking SUBCH Subchapter subparagraph Subpart table of sections tax imposed taxable income Taxable years beginning taxable years ending taxpayer term thereof the following tion trade or business trust United
Popular passages
Page 80 - A reasonable allowance for salaries or other compensation for personal services actually rendered; (2) Traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business; and (3) Rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
Page 565 - To the extent of any interest therein of which the decedent has at any time made a transfer, by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power, either by the decedent alone or in conjunction with any person, to alter, amend, or revoke...
Page 127 - medical care" means amounts paid — (A) For the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body (including amounts paid for accident or health insurance) , or (B) For transportation primarily for and essential to medical care referred to in subparagraph (A).
Page 516 - The performance of service by a duly ordained, commissioned, or licensed minister of a church In the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...
Page 409 - Secretary or his delegate that he has been a bona fide resident of a foreign country or countries for an uninterrupted period which Includes an entire taxable year, amounts received from sources without the United States (except amounts paid by the United States or any agency thereof) if such amounts...
Page 183 - If an exchange would be within the provisions of subsection (b) (1) to (5), inclusive, 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 or loss, but also of other property or money, then no loss from the exchange shall be recognized.
Page 414 - States— (1) If 80 per centum or more of the gross income of such citizen or domestic corporation (computed without the benefit 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 427 - Secretary, expended in the acquisition of other property similar or related in service or use to the property so converted, or in the acquisition of control of a corporation owning such other property, or in the establishment of a replacement fund, no gain or loss shall be recognized. If any part of the money is not so expended...
Page 295 - For purposes of this subtitle, the term "common trust fund" means a fund maintained by a bank — (1) Exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank in its capacity as a trustee, executor, administrator, or guardian; and (2) In conformity with the rules and regulations, prevailing from time to time, of the Board of Governors of the Federal Reserve System or the Comptroller of the Currency pertaining to the collective investment of trust funds...
Page 653 - Service performed by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...