United States Code AnnotatedWest Publishing Company, 1928 |
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44 Stat absence of evidence accrued acquired for stock Act Feb actual cash value additional allowed amended assessment assets basis Board bonds capital stock cash value centum certiorari denied cited claim Commissioner computed contract corporation cost death debt decedent deficiency depreciation determined disallowed distraint distribution dividends duction earnings entitled estate tax Evidence held excess profits tax expenses fair market value February 26 filed forfeiture gross income held insufficient Historical Note included in invested income tax interest Internal Revenue inventory invested capital lease liability liquor loss market value ment net estate net income par value partnership patents payment period person petitioner poration prior provisions purchase purposes received refund repealed Revenue Act 1918 salaries statute stock issued stockholders subd subdivision surplus take effect tax imposed taxpayer thereof tion transfer trust United value of stock
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Էջ 72 - 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...
Էջ 36 - ... 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.
Էջ 154 - 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...
Էջ 154 - Income collected by a guardian of an infant which Is to be held or distributed as the court may direct...
Էջ 162 - All persons, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of the United States, having the control, receipt, custody, disposal, or payment...
Էջ 36 - reorganization" means (A) a merger or consolidation (including the acquisition by one corporation of at least a majority of the voting stock and at least a majority of the total number of shares of all other classes of stock of another corporation, or substantially all the properties of another corporation...
Էջ 430 - 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.
Էջ 476 - The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, collected, and paid in the same manner and subject to the same provisions and limitations as in the case of a deficiency in a tax imposed by this...
Էջ 72 - BASIS. (a) Dealers in personal property. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment payments actually received in that year which the gross profit realized or to be realized when payment is completed, bears to the total contract price.
Էջ 12 - 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...