Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means, House of Representatives, Interim, 69th-70th Congresses, October 31 to November 10, 1927, Including Briefs, Memoranda, and Letters Received Up to November 26, 1927 : Indexed
U.S. Government Printing Office, 1927 - 1014 halaman
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additional allowed amendment American amount Appeals applied assessment Association authority basis believe BLODGETT capital cent CHAIRMAN CHINDBLOM claim collected commissioner committee Congress consideration considered corporation cost course court decision determined effect entire estate tax estimate exemption expenses fact Federal Federal estate figures filed follows gain GARNER gentlemen give Government held House income tax increase individual industry inheritance tax installment interest Internal Revenue legislature limitations loss matter means Mills operation organization paid passed payment period practice present profit provision question reason received recommend reduction reference refund regulations repeal represent resolution respect result revenue act rule Senate statement statute stockholders submitted suggested taxable taxation taxpayer thing tion Treasury Department trust United
Halaman 267 - ... 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 from any source whatever.
Halaman 264 - 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.
Halaman 435 - fiduciary" means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. (7) The term " withholding agent " means any person required to deduct and withhold any tax under the provisions of section 143 or 144.
Halaman 457 - ... 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.
Halaman 280 - For purposes of this section, the term "earned income" means wages, salaries, or professional fees, and other amounts received as compensation for personal services actually rendered, but does not include that part of the compensation derived by the taxpayer for personal services rendered by him to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered. In the case of a taxpayer engaged in...
Halaman 423 - ... because there is accumulated and maintained by it a reserve required by State law or a reasonable reserve for any necessary purpose.
Halaman 422 - ... for the purpose of purchasing supplies and equipment for the use of members or other persons, and turning over such supplies and equipment to them at actual cost, plus necessary expenses.
Halaman 422 - Farmers', fruit growers', or like associations organized and operated on a cooperative basis (a) for the purpose of marketing the products of members or other producers, and turning back to them the proceeds of sales, less the necessary marketing expenses...
Halaman 257 - capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...