INDEX

BULLETIN 1954-3

Business expenses:

Deductible, "kickback" payments...

Capital gains and losses:

Alternative tax, computation, credits allowed corporations___

Credits against net income, net long-term capital gain or loss, computa-
tion, alternative tax....

Deductions:

Paid credit, allowed corporations, alternative tax computation_...
Received credit, allowed corporations, alternative tax computation__
Employment taxes:

Employer:

Estate tax:

Insurance, life:

Forms:

Partnerships, change in membership....

11

Receivable by beneficiary other than estate, inclusion in gross

estate__

9

12

W-2, Withholding Tax Statement for 1954, reproduction..

Gift tax:

Gift-splitting, allocation of specific exemption to other spouse.
Specific exemption, not allocable to use of other spouse..
Tax Court of the United States, decision. --

Western Hemisphere corporations, allowable credits, computation, alter-

native tax--

Withholding:

Receipts, Form W-2, reproduction.

10

10

4

8

12

(15)

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Internal
Revenue

JANUARY 25, 1954 BULLETIN

No. 4

HIGHLIGHTS OF THIS ISSUE:

Proposed T. D. announced reflecting rules and
procedures relating to amortization deduc-
tion for public grain storage facilities... Page 3.
A public grain warehouse may qualify for
special amortization deduction even though
the owner constructs it next to, and uses
loading and other equipment of, a similar
warehouse which it owns..

...

Rev. Rul. 54-33, page 7.

Rev. Rul. 54--34, page 7.

Rev. Rul. 54-39, page 11.

Insurance commissions received pursuant to
agency agreement constitute personal hold-
ing company income of a corporation where
the principal has the right to designate the
person to perform the services . . .
There is no standard form of exemption cer-
tificate for establishing the nontaxable char-
acter of payments made outside the United
States for transportation of persons.
The Revenue Service announces its Federal
employment tax treatment of cost-of-living
allowances paid to United States civilian em-
ployees stationed outside the United States. . Rev. Rul. 54-40, page 9.
Merely being a charitable, scientific, or similar
organization exempt from some Federal
taxes will not automatically provide exemp-
tion from stamp taxes on stock issues or
transfers.

Rev. Rul. 54-38, page 11.

An agent who prepares a Federal estate tax
return is not prevented from later assisting
the taxpayer in establishing a different value
for items of property shown on that return.. Rev. Rul. 54–36, page 8.
The tax on initiation fees applies to fees paid
by incoming club member rather than retir-
ing members. Rev. Rul. 137 clarified
The certification of a copy of a will required
by the estate tax regulations must be made
by the register of wills or his authorized
representative

Continued on page 3

Rev. Rul. 54-37, page 10.

Rev. Rul. 54-35, page 8.

Index on page 15.

Finding List on page 16.

TREASURY DEPARTMENT

• INTERNAL REVENUE SERVICE

UNIVERSITY OF MICHIGAN

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