BONUS TAX- When accrued so as to be deductible, 257 (b), 196. Effect on income in case of sale, 533 (m), (o), 479. Suit against collector to enjoin examination of, 562 Witnesses required to testify before revenue agent, BORROWED MONEY- Invested capital where partner's property is pledged, Not a part of invested capital, 404 (f), 335. Application of words "organized and operated for Exemption, 225 (a) (c), 182; 226, 186; 227 (b)-(d), CAPITAL ASSETS- Gain from sale of, 115, 79. Income from sale of, 48, 36; 49, 36; 104 (d), 75; 512, 465; 533 (g), (h), 479. Losses from sale of, 115, 79; 535, 480. CAPITAL CONTRIBUTIONS— Release of stockholders' debts to corporation, 533 (p), CAPITAL EXPENDITURES- Deductibility, 534 (g), (h), 480. CAPITAL STOCK- Interest deductible equal to amount of paid up, 539 CARRYING ON BUSINESS- Definition, 527 (p), 478. CASH BASIS OF ACCOUNTING— Act of 1909, 529 (a), 478. Retroactivity of change in, 96, 72. CASH VALUE- Definition, 50 (c), 37. CERTIFICATES OF STOCK- Determining loss or gain on sale of, 42 (a), 28. CHARITABLE INSTITUTION— Income to trustee of, 228, 184; 230, 231, 184; 232 CHARITY-— Contributions to, deductibility, 534 (e), 480. What constitutes payment by, 481, 422. CHILD LABOR TAX- Constitutionality, 555 (a), (b), 493; 574 (a), (b), 508. CITIZEN- Nonresident, constitutionality of tax on income de- Nonresident, taxability on income derived from Mexico, Residing in and deriving income from Philippine Is- CLAIM FOR ABATEMENT— Not equivalent to claim for refund, 565 (c), 505. Application before payment in lieu of, 565 (a), 505. Suit to enjoin, 562 (q), (8), (u), 502. After statutory period, 564 (p), (q), 504. At source, constitutionality, 183, 147; 580 (n), 510. Injunction prohibited, 562 (f), 501; 562 (9)-(i), (k)- Judgment against U. S., set off of taxes due, 493, 458. Stockholder's bill to restrain, 562 (d), 501. Authority to collect after statutory period, 564 (p), Authority to examine persons, 556, 495. Suit against, a personal action, 564 (j)-(m), 504. Suit against, effect of Sec. 252, 361, 303. Suit against, effect of Sec. 3220, R. S., 561, 501. Suit against, to enjoin collection of penalty, 562 (q), Suit against, to enjoin collection of tax after statu- Suit against, to enjoin examination of books, 562 (t), 502. Application to, before payment, as constituting claim Authority to determine qualifications of members of Filing claim with Collector constitutes filing with, 565 Findings of predecessor, who makes assessment, 564 Mandamus to compel acceptance of amended returns, Mandamus to compel him to credit taxpayer with COMMISSIONS— Accruing prior to Mar. 1, 1913, 109, 77. Under California law, inclusion in gross estate, 423 COMMUTATION- Income to army officer, 487, 451. COMPENSATION PAID— Fixed by board of directors, 534 (d), 480. As bar to criminal prosecution, 568 (a), 506. Sixteenth amendment, effect of, 76, 77 (b), 79, 61; CONSTITUTIONALITY- See "Sixteenth Amendment; 99 "Due Process of Child Labor Tax, 555 (a), (b), 495; 574 (a), (b), Collection of tax at source, 183, 147; 580 (n), 510. Direct tax, apportionment, 494, 459; 496, 462; 575 Estate Tax Act of 1916, 419 (ƒ), 347. Including proceeds of insurance policy payable to an- Including transfers made in contemplation of death Income tax of 72% on income in highest bracket, 89, Income tax on domestic corporation on income de- Income tax on proceeds of insurance policy, 113 (b), Income tax on railway company operated by receiver, Income tax on salary of federal judge, 578, 510. 323. Interest, limitation on amount deductible, 254 (b), Invested capital, limitations on, 397 (c), 330; 580 Permitting individuals but not corporations to de- Placing decedent's income on annual basis, 203 (b)- Placing income for fractional year on annual basis, Progressive rates, 87, 63; 580 (j), 510. Requiring domestic corporations to pay tax on income Requirement for return of income, 542 (a), 483; 579, Retroactivity of revenue law, 85, 62; 92, 68; 198, Tax on income from foreign commerce, 104 (e), 75; Tax on income from municipal bonds, 520, 471; 573 Tax on income from realty or personalty, 520, 471; Tax on income of nonresident citizen on income de- CONSTITUTIONALITY-Continued. Tax on income to state municipality, 509, 463. Uniformity requirement, income and excess profits Variations in deductions, 125, 90; 127, 92; 147, 114; Withholding of tax of nonresidents, 508, 463; 580 CONSTRUCTION— Taxability of expenditures for new, 505, 463. Revenue law, weight to be given to regulations, 470 Section 202 (a), Act of 1916, 425 (a), 350. Constitutionality including in gross estate transfers Definition, 428 (e), 351; 429 (d), 351. Transfers made in, 428 (a), 350; 428 (d), (g) 351; Transfers not made in, 428 (f), (g), 351; 429 (a), CONTRACTOR- Prime, liability for munitions tax, 549 (a), 489. CONTRIBUTIONS- Capital, 533 (p), 479. To G. A. R. Post, 138, 100. Association taxable as, 213 (a), 176. Bankrupt, taxability of trustee of, 210 (a), 176. Capital contribution, release of debt by stockholder, Deductions, "running expenses" for munitions tax, Dissolution to avoid tax, 210 (b), 176; 527 (e), 477. "Doing business," 211 (b), 176; 223 (b), 179; 526 Domestic, deriving income from Porto Rico, 213 (c), Employing capital, 404 (c), 335. Excess-profits tax, 382 (a), (b), 319, 320; 397 (a), Exemption of "like organization of a purely local Income divided or undivided, 497, 462; 504, 463. Income, release of debt by stockholder, 533 (p), 479. Lessor, income to, where dividends are paid by lessee Liability of stockholders for taxes assessed after dis- Liability of stockholders for tax after liquidation, Money advanced to subsidiary, 534 (i), 480. No matter how created or organized, 218 (a), 178. Required to file return, 542 (b), 483. Where property acquired before March 1, 1913, 50 Interest on investment as part of, 106 (a), 76; 533 Invested capital based on, 397 (f), 331. Recoverable in suit against collector, 564 (n), 504. Excess-profits tax, bracket deducted from, 382 (a), CREDIT FOR TAXES- Bond discount, 539 (c), (d), 481. Bond premiums, 536 (c), 480; 539 (b), 481. Attorney's fees paid in litigation involving title, 126 Bad debts charged off, 534 (e), 480. Banks, interest on debenture bonds, 540, 481. Bond premiums, 536 (c), 480. Capital expenditures, 534 (g), (h), 480. Constitutionality of variations in, 125, 90; 127, 92; Depletion, lessor and lessee, 137, 100. Depletion on royalties received, 266 (a), (b), 202. Depreciation does not include depletion, 536 (b), 480. Depreciation of railroad property, 536 (e), 480. Expenses incurred in operating farm, 126 (d), 91. Losses from sale of capital assets, 535, 480. Money advanced to subsidiary, 534 (i), 480. Net loss sustained in 1920, 57, 42. New York Transfer Tax, 131, 93. Not allowable unless claimed prior to suit, 249, 191. Replacement of furniture and equipment, 534 (a), Reserves of insurance companies, 268 (a), (b), 204, Running expenses for munitions tax, 553, 490. Salaries unpaid because corporation bankrupt, 250, Salary fixed by board of directors, 534 (d), 480. "So-called" dividends of insurance companies, 269, State bonus tax, 257 (b), 196. Suit, deductions must be claimed before, 249, 191. Taxes, federal estate, 130 (a), 93. Taxes, state, 541 (a), (b), 482, 483. Taxes, state legacy, 129, 92. Variations in, constitutionality, 125, 90; 127, 92; 147, 114; 152, 117; 265, 202; 580 (e), (h), (i), DEEMED Definition, 24 (a), (b), 12. DEFINITION- "Accrued, 445 (a), 364; 486, 438. Bequest," 116 (b), 80. "Business,' "" 527 (0), 478. 66 'Capital," 404 (a), 334. "Carrying on business,' 527 (p), 478. Contemplation of death," 428 (e), 429 (d), 351. "Deemed," 24 (a), (b), 12. "Depreciation," 135, 96; 536 (a), 480. "Doing business, 527 (p), 478. "Engaged in business," 527 (p), 478. "False," 348, 292; 353, 295; 545, 484. 66 Fraudulent, "" 545, 484. "Income," 104 (b)-(d), 75; 106 (b), 76; 107 (c), "Income within meaning of Sixteenth Amendment, "Maintenance," 534 (c), 480. "Most recently accumulated undivided profits or sur- "Mutual fire insurance company, "' 271, 206. "Private stockholder," 233, 185; 532, 479. "Railroad company," 500, 463; 515, 470. Statutory, of invested capital, binding on courts, 397 DELEGATION OF AUTHORITY-— Constitutionality of, 190, 156; 574 (d), 509. Allowable between lessor and lessee, 137, 100. Amortization of premiums on bonds, 536 (c), 480. Securities owned by insurance companies, 536 (d), DISTRIBUTIONS- DISTRICT COURT— Suit against U. S. in, 564 (gg), 505. DIVIDED OR UNDIVIDED INCOME- Taxability to corporation, 497, 462; 504, 463. As income, 106 (e), 107 (b), 76; 107 (g), 77; 113 Corporation taxable on, if subject to laws of U. S., Credited, but not set apart, 17 (c), 10. Declared before March 1, 1913, 113 (1), 79; 582 (i), 512. Effect of corporate resolution on taxability of, 24 Effect of declaration of, 113 (m), 79. Final liquidating, 113 (f), 78. In reorganization, 17 (e), 10; 106 (d), 76. Paid in stock of new corporation created from sur- "So-called," of insurance companies, 269, 205; 537, Stock, declared from surplus accrued after March 1, Stock, declared from surplus accrued before March Taxability to controlling corporation in case of mer- Taxability to corporation, 501, 463. DIVIDENDS-Continued. Taxability when paid during January and February, Taxability to partners, 162, 130. Taxability when merely credited and not segregated, Taxability when paid from corporate earnings ac- Taxability when paid from corporate earnings accrued "DOING BUSINESS"— Taxability of corporation, 211 (b), 176; 223 (b), 179; DOUBLE TAXATION- Corporations subject to tax for benefit of U. S. and Estate Tax, 445 (b), 365. DUE PROCESS OF LAW- Collection of tax at source, 183, 147; 580 (n), 510. Income tax of 72% on income in highest bracket, 89, Limitation on amount of deductible interest, 254 (b), Placing income for fractional year on annual basis, Placing income of decedent on annual basis, 203 (d), Progressive rates of tax, 87, 63; 580 (j), 510. Taxing domestic corporations on income derived from Taxing income derived from sale of goods exported Variations in allowable deductions, 125, 90; 127, 92; E EDUCATIONAL INSTITUTION— Exemption, 228, 229, 232 (a), 184. EMBEZZLED MONEY— Taxability to embezzler, 105, 76; 111 (a), 77. Definition, 527 (p), 478. ENTIRE NET INCOME— Taxability, 526 (b), 477; 580 (b), 510. Bill in, to enjoin collection of tax, 521, 475; 562 (a)- ESTATES AND TRUSTS- Act of 1913, as taxing income of, 74, 61; 86, 62; Bequest as income to beneficiary, when property is Act applicable to decedent who died November 4, Act of 1916 included state municipal bonds in gross Act, retroactivity, 423 (e), 424, 426 (b), 427 (a), (b), Act took effect at death, 419 (a), 346. A general charge on the gross estate, 422 (a), 348. ESTATE TAX-Continued. Army stenographer serving in "Military forces," Character of, 418 (a)-(c), 346; 419 (b)-(d), 346, 347; 349. Computation of, when exempt organization as residu- Constitutionality, including state municipal bonds, con- Constitutionality, including transfers made in Contemplation of death, definition, 428 (e), 351. Deductibility of federal, from gross income, 130 (a), Due date, 445 (b), 365. Exempt organization as residuary legatee required to Joint tenancy created prior to passage of Act of Law operates in harmony with state laws of descent Material part of estate, 430, 352. Payment with Liberty Loan Bonds, 452, 374. Property transferred in marriage settlement, 426 (a), State inheritance or succession taxes, deductibility, Tax on transfer of net estate, 418 (a)-(c), 346; 419 Usufruct under Louisiana law, 422 (e), 348. EVIDENCE- Of value as of March 1, 1913, 51, 38; 52 (a), (b), EXAMINATION OF BOOKS- By revenue agent, witnesses compelled to testify, EXAMINATION OF PERSONS- Authority of collector, 556, 495. EXCESS-PROFITS TAX- Capital, corporation employing, 404 (c), 335. Capital, partnership not employing, 404 (a), 334. Credit, bracket deducted from, 382 (a), (b), 319, 320. Invested capital, appreciation in value of property, Invested capital, constitutionality of limitations on, Invested capital of partnership, 397 (b), 330. Penalty applies for failure to file return, 557 (b), 496. Estate Tax Act, 418 (a)-(c), 346; 419 (b)-(d), 346, Not subject to apportionment, 494, 459; 575 (a), 509. EXECUTOR- Return of, where testator died between March 1, EXEMPTION- See "Estate Tax." Army stenographer, from estate tax, 421, 348. purposes, 232 (a), (b), 184, 185. Association operating under lodge system, 224, 182. Educational institutions, 229, 184. "Like organization of a purely local color," 234 Personal, limited to normal tax, 151, 117. See "Deductions." Accrued, 254 (a), 255, 256, 193; 257 (a), (b), 196. Contributions to charity, 534 (e), 480. Deductible by trustee in bankruptcy, 252, 192. Incurred by lawyer operating farm, 126 (c), 91. Interest deductible under the act of 1909, 539 (b), Money advanced to subsidiary corporation, 534 (i), Ordinary and necessary, 251, 252, 192. Proratability, 251, 192. Taxability of income from, 104 (e), 75; 114, 79; 577 FOREIGN CORPORATION- Business transacted in U. S., 221, 178. Constitutionality of Act placing income for, on an- Return for period prior to decedent's death, 203 (a), FRATERNAL BENEFICIAL SOCIETY— Nature of, 530, 479. |