Federal Income Tax Problems --1922

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Dodd, Mead, 1922 - Income tax - 541 pages

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Contents

Illustrating Deductibility by a Corporation of Net Loss
48
Illustrating Adjustments for Payments of Tax Made
56
Illustrating Computation of Income and Profits Taxes
64
Illustrating Capital Deductions and Capital Net Gain
70
Application of the Minimum Limitation on Total
73
Illustrating Computation of the Surtax in the Case
80
Illustrating Gross IncomeProfits from Business Com
87
Life Insurance Policy
93
Illustrating Gross IncomeHealth Insurance Received 100 ments
99
Illustrating Gross IncomeWar Pension and Bonus
102
Illustrating Deductions from Gross Income Dues Paid
109
Illustrating Deductibility of SalariesSalaries in
116
Illustrating Income to be Reported by and Deductions
122
Illustrating Deductions Allowed CorporationsTaxes
126
Illustrating Deductions AllowedLosses Due to Sales
133
Illustrating Deductions Allowed IndividualsLoss
139
Illustrating Losses Due to Shrinkage in Inventory
145
Illustrating Manner in which Deductions from Gross
151
121
157
Illustrating Depreciation of Intangible Property
163
ment
167
Illustrating Basis for Depletion of an Oil Well in Case
173
Illustrating Deductions from Gross Income Group
179
Illustrating Items Not DeductibleAmounts Spent
185
Illustrating Deductions AllowedBetterments by Les
189
Illustrating Credits Against Net Income for Normal
196
Illustrating Case in which a Citizen of the United States
202
Illustrating Taxability of Income by Nonresident Alien
208
Illustrating Computation of Net Income of Individuals
210
Illustrating Taxation of Income of Estates
216
Illustrating Withholding of TaxInterest Received
222

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Common terms and phrases

Popular passages

Page 432 - gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income derived...
Page 325 - An Act to reduce tariff duties and to provide revenue for the Government, and for other purposes...
Page 475 - ... (b) Interest. — All interest paid or accrued within the taxable year on indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities (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 taxation under this title.
Page 447 - That the tax imposed by sections 210 and 211 m shall apply to the income of estates or of any kind of property held in trust...
Page 452 - If any tax required under this section to be deducted and withheld Is paid by the recipient of the Income, It shall not be re-collected from the withholding agent; nor In cases In which the tax Is so paid shall any penalty be Imposed upon or collected from the recipient of the Income or the withholding agent for failure to return or pay the same, unless such failure was fraudulent and for the purpose of evading payment.
Page 449 - A trust created by an employer as a part of a stock bonus, pension, or profit-sharing plan for the exclusive benefit of some or all of his employees, to which contributions are made by such employer, or employees, or both, for the purpose of distributing to such employees the earnings and principal of the fund accumulated by the trust in accordance with such plan...
Page 509 - 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 477 - To the result so obtained add unearned premiums on outstanding business at the end of the preceding taxable year and deduct unearned premiums on outstanding business at the end of the taxable year; (6) LOSSES INCURRED. — "Losses incurred" means losses incurred during the taxable year...
Page 294 - States) ; (3) estate, inheritance, legacy, succession and gift taxes; and (4) taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 434 - Whenever any State, Territory, or the District of Columbia, or any political subdivision of a State or Territory, prior to September 8, 1916, entered in good faith into a contract with any person, the object and purpose of which is to acquire, construct, operate, or maintain a public utility...

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