FOREWORD The Revenue Act of 1928, in arrangement and typographical make-up, is a radical departure from the previous revenue acts. It simplifies the form of the income tax by a more logical and convenient rearrangement, by a free use of bold-face heads and subheads, with indentures, and by making the income-tax title apply only to the taxable year 1927 and succeeding taxable years. The Revenue Act of 1928, moreover, does not repeal the previous act. Accordingly, the Revenue Act of 1926 remains in force, with such amendments as were thought necessary or desirable. With such a radical departure in the revenue law making policy, repetition of language and copious notes and footnotes can not be avoided in a comparison such as is here attempted. Likewise, to conserve space and composition, the indentures of the 1928 Act have been omitted. In other respects, the typographical make-up follows as nearly as possible, in reduced-size type, the composition of the 1928 Act. The order of comparison follows that of the Revenue Act of 1928, the corresponding provisions of the 1926 Act appearing in the opposite column. Notes, in smaller type, appearing below or opposite many of the provisions, are intended as a guide to specific changes. Amendments to the previous revenue acts are shown in stricken-through type, italics, and capitals, and are indicated by footnotes. The provisions of the 1926 Act not shown in the comparison, as well as those portions which are amended, appear in the supplement, with the proper references. To Leslie M. Rapp, assistant clerk to the committee, whose valuable suggestions and patient attention to the details involved contributed in a large measure to the early completion of this volume, grateful acknowledgment is made. Acknowledgment is also made to E. C. Alvord, of the Treasury Department, the staff of the Joint Committee on Internal Revenue Taxation, and legislative counsel of the House, for suggestions and assistance in reviewing the subject matter. CLAYTON F. MOORE, Clerk to the Committee. WASHINGTON, November 17, 1928. V |