Comparison of the Revenue Acts of 1918 and 1921 |
From inside the book
Results 1-5 of 26
Page 4
... earnings or profits accumulated since February 28 , 1913 , except a distribution made by a personal service corporation out of earnings or profits accumulated since December 31 , 1917 , and prior to January 1 , 1922 . ( b ) For the ...
... earnings or profits accumulated since February 28 , 1913 , except a distribution made by a personal service corporation out of earnings or profits accumulated since December 31 , 1917 , and prior to January 1 , 1922 . ( b ) For the ...
Page 5
... earnings or profits , and if the books of the corporation do not show the amount of such earnings or profits , the earnings or profits for the accounting pe- riod within which the distribution was made shall be deemed to have been accu ...
... earnings or profits , and if the books of the corporation do not show the amount of such earnings or profits , the earnings or profits for the accounting pe- riod within which the distribution was made shall be deemed to have been accu ...
Page 22
... earnings derived from the operation of a ship or ships documented under the laws of a foreign country which grants an equivalent exemption to citi- zens of the United States and to corpora- tions organized in the United States ; ( 9 ) ...
... earnings derived from the operation of a ship or ships documented under the laws of a foreign country which grants an equivalent exemption to citi- zens of the United States and to corpora- tions organized in the United States ; ( 9 ) ...
Page 27
... earnings of which inures to the benefit of any private stockholder or indi- vidual ; or ( Č ) the special fund for voca- tional rehabilitation authorized by sec- tion 7 of the Vocational Rehabilitation Act ; to an amount which in all ...
... earnings of which inures to the benefit of any private stockholder or indi- vidual ; or ( Č ) the special fund for voca- tional rehabilitation authorized by sec- tion 7 of the Vocational Rehabilitation Act ; to an amount which in all ...
Page 35
... earnings or profits accumulated after De- cember 31 , 1920 , shall be taxed to the distributees ; and the stockholders of record on December 31 , 1921 , shall be taxed upon their distributive shares of the difference ( if any ) between ...
... earnings or profits accumulated after De- cember 31 , 1920 , shall be taxed to the distributees ; and the stockholders of record on December 31 , 1921 , shall be taxed upon their distributive shares of the difference ( if any ) between ...
Common terms and phrases
20 per centum 50 cents accrued alcohol by volume amended amount of tax amount paid approval assessed basis benefit bonds calendar cents cigars collected Commis computed contract dealer decedent December 31 deemed distributed District of Columbia dividends estate or trust excess-profits taxes exempt fair market filed fiscal foreign corporation gross estate gross income hereby imposed by section income exceeds income tax interest Internal Revenue internal-revenue invested capital leaf tobacco levied Liberty Bond lieu manner manufacturer ment net income exceeds nonresident alien package par value paragraph partnership payable payment penalty personal service corporation place of business poration Provided further provided in section purposes regulations prescribed Revenue Act Secretary section 230 sioner sold special tax stamp stock or shares subdivision tax due tax equivalent tax imposed taxable taxpayer thereof tion trade or business United vided wines
Popular passages
Page 26 - ... 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 23 - The amount of all such items shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under methods of accounting permitted under subdivision (b) of section 212, any such amounts are to be properly accounted for as of a different period...
Page 27 - Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction.
Page 98 - To the extent of the amount receivable by the executor as insurance under policies taken out by the decedent upon his own life; and to the extent of the excess over $40,000 of the amount receivable by all other beneficiaries as insurance under policies taken out by the decedent upon his own life.
Page 52 - ... (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 as determined under the provisions of this section...
Page 97 - ... except such part thereof as may be shown to have originally belonged to such other person and never to have been received or acquired by the latter from the decedent for less than an adequate and full consideration in money or money's worth: Provided.
Page 9 - No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment.
Page 24 - The income of foreign governments received from investments in the United States in stocks, bonds, or other domestic securities, owned by such foreign governments, or from interest on deposits in banks in the United States of moneys belonging to such foreign governments, or from any other source within the United States ; 56.
Page 178 - SEC. 3226. 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 34 - States, the net income may first be computed by deducting the expenses, losses or other deductions apportioned or allocated thereto and a ratable part of any expenses, losses or other deductions which can not definitely be allocated to some item or class of gross income...