Lapas attēli

T. D. 1892. Government bonds

T. D. 1933. Mutual companies

T. D. 1937. Corporation excise tax

T. D. 1943. Fiduciaries

T. D. 1945. Income from dividends

T. D. 1946. Special assessment districts

T. D. 1947. Fiduciaries

T. D. 1948. Tax-free covenants

T. D. 1950. Returns, time, and penalties

T. D. 1956. Collectors to answer inquiries.

T. D. 1957. Partnerships

T. D. 1960. Corporation interest deduction

T. D. 1961. Returns by fiduciaries

T. D. 1962. Returns held confidential

T. D. 1965. Withholding agents

T. D. 1967. Exempt corporations, etc.

T. D. 1973. Withholding agent, form revised.

T. D. 1974. Tax on bond income withheld.

T. D. 1976. Forms, withholding tax

T. D. 1977. Forms, foreign agents, etc.

T. D. 1986. Banks, withholding certificate

T. D. 1988. Nonresident aliens, United States agents..

T. D. 1989. Deductible losses

T. D. 1992. Foreign corporation bonds

T. D. 1993. Corporation, deductible interest

T. D. 1996. Coöperative dairies

T. D. 1997. Monthly withholding returns

T. D. 1998. Withholding exemption certificates

T. D. 2001. Corporation fiscal year

T. D. 2005. Deductible losses, depreciation

T. D. 2006. Defining foreign corporation and fiscal agent..

T. D. 2011. Commissions, insurance premiums

T. D. 2012. Aliens, dividend exemptions .

T. D. 2013. Aliens, amending T. R. 8..

T. D. 2015. Compromises, penalties

T. D. 2016. Inspection of returns

T. D. 2017. Aliens, dividend exemption

T. D. 2022. Withholding bond interest tax.

T. D. 2023. Foreign collections, amending T. R. 58.

T. D. 2024. Amending T. R. 192, collectors.

T. D. 2029. Corporation fiscal year

T. D. 2048. Dividends from net earnings

T. D. 2049. Certificates, exemption, etc., not taxed.

T. D. 2077. Capital assets, deductible depreciation.

An eminent artist said that, to get the full value of his

work, it must be viewed from the viewpoint of the artist

himself. In the same sense the authors of this book on the

Federal Income Tax believe that a careful consideration of

these introductory paragraphs will prove beneficial to the

reader in his effort to gain a comprehensive understanding of

this complex and very much misunderstood law.

The motive of this publication is in the fact that there is

not a treatise on the subject that is intelligible to any one un-

acquainted with legal phraseology, and similarly there is none

that is both brief and complete, and which is based on the

Supreme Court construction of the law; hence the purpose

of this effort is to reduce the requirements of the new law to

plain language so that any one by reading it may clearly

grasp it and know his rights as well as his duties under the


While fulfilling this aim for the general reader who may

be liable for the Income Tax, we have endeavored at the
same time to make this work equally desirable and valuable
for the lawyer. We have tried to strike a happy medium in
a book that is so plain that it cannot fail to be understood
and so complete and accurate that nothing essential shall be
left out of it. All the law is given for reference, and, by the
use of the Index to the law and the explanations, it is be-
lieved that the answer to any desired question may be easily
and quickly obtained. All the law and the constructions and
regulations are included with the analysis in one alphabeti-
cal Index.

it is given. When an answer to a particular question, how-
ever, is needed, the proper method is to consult the Table of
Contents and then, if necessary, the Index. Both the Table
of Contents and the Index have been made as complete as possible, and under the name of the subject indicated the searcher will find his references to that point in every part of the book, including the authors' explanation, the forms, the Statute, the Regulations and the Statistics. On account of this feature of the Index, we have not cumbered the explanatory paragraphs with numerous citations of authorities, but give only such references to cases and other works as may be really useful. The case of Brushaber v. Union Pacific Railroad ((13) practically covers all the Statute.

From the Report of the Commissioner of Internal Revenue for the fiscal year ending June 30, 1915, it is made plain that the administration of the new law has been effective and that only minor changes are contemplated in the near future. One of these is that all persons having "gross” incomes of $3,000 or more be required to list the incomes. At present the requirement is for "net" incomes, so that the individual with an income near $3,000 is practically left to be his own judge as to whether or not his "net” income is up to the required amount. A second probable amendment is to require partnerships to list the partnership income as now required of corporations, instead of the present arrangement, which only requires the partners to list their own proportionate parts of

the income.

The present law requires the return of the income to be made in the district where the taxpayer's principal place of business is located, and it is proposed that this be changed

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