fication of such taxes, particularly the income tax; and

Sec. 5011. (b) (2) Publication of proposals.— To publish, from time to time, for public examination and analysis, proposed measures and methods for the simplification of such taxes.

Sec. 5011. (c) Reports.-To report, from time to time, to the Committee on Finance and the Committee on Ways and Means, and, in its discretion, to the Senate or the House of Representatives, or both, the results of its investigations, together with such recommendations as it may deem advisable.

Sec. 5011. (d) Cross reference.

For duties of the Joint Committee relating to refunds of income and estate taxes, see section 3777. Sec. 5012. Additional powers to obtain data. Sec. 5012. (a) The Joint Committee on Internal Revenue Taxation or the Chief of Staff of such

Joint Committee, upon approval of the Chairman or Vice-Chairman, is authorized to secure directly from the Bureau of Internal Revenue (including the Assistant General Counsel for the Bureau of Internal Revenue), or directly from any executive department, board, bureau, agency, independent establishment or instrumentality of the Government, information, suggestions, data, estimates and statistics, for the purpose of making investigations, reports and studies relating to internal revenue taxation.

Sec. 5012. (b) The Bureau of Internal Revenue (including the Assistant General Counsel for the Bureau of Internal Revenue), executive departments, boards, bureaus, agencies, independent establishments and instrumentalities are authorized and directed to furnish such information, suggestions, data, estimates and statistics directly to the Joint Committee on Internal Revenue Taxation or to the Chief of Staff of such Joint Committee, upon request made pursuant to this section.

Change from accrual to installment basis, § 44 (c).
General rule, § 41.

Income computed in accordance with, § 41.
Installment basis, § 44.

Inventory basis, § 22 (c), (d).

Reallocation of income and deductions, § 45.

ACCOUNTING PERIODS

Calendar year, § 41.

Change of, § 46.

Credits taken, § 43.

Deductions taken, § 43.

Fiscal year, § 41.
Fractional year, § 47.
General rule, § 41.

Income computed in accordance with, § 41.
Items of gross income included, § 42.
Partnership and partner different, § 188.
Trust and beneficiary different, § 164.

ACCRUAL BASIS

Accounting, § 41.

Change to installment basis, § 44 (c).

ACCRUED

Definition, § 48 (c).

ACCRUED TAXES

Adjustment of credit against tax, § 131 (c).

ACCUMULATION OF SURPLUS

See Improper Accumulation of Surplus."
Prevent imposition of surtax, § 102.

ACQUIRING CORPORATION

Allowance of excess profits credit, § 741.

Base period, § 740 (d).

Base period years, § 740 (e).

Definition, § 740 (a).

Election of income credit, § 741.

Existence of acquiring corporations, § 740 (f).
Foreign corporation, § 744.

Not included in term corporation, § 744.

Income of certain component corporations not in-
cluded, § 740 (c).

Sole proprietorship, § 740 (h).

ACQUISITIONS

Avoidance of excess profits taxes, § 129.
Avoidance of income taxes, § 129.

ACTIONS

See "Suits."'

ACTS

See Table of Sections in front of book.

ADDITIONAL

ALLOWANCE FOR MILITARY

AND NAVAL PERSONNEL

Exclusion from gross income, § 22 (b) (13).
ADDITIONAL ASSESSMENT

See "Deficiency of Gift Taxes"; "Deficiency of
Estate Taxes"; "Deficiency of Income
Taxes."'

ADJUSTED BASIS FOR DETERMINING GAIN
OR LOSS

Adjusted basis, § 113(b).

Basis established by Revenue Act of 1932, § 113
(a) (12).

Basis established by Revenue Act of 1934, § 113 (a)
(16).

Capital structure before September 22, 1938, § 113
(b) (4).

Discharge of indebtedness, § 113 (b) (3).
General rule, § 113 (b) (1).

Gifts after December 31, 1920, § 113 (a) (2).

Gifts before January 1, 1921, § 113 (a) (4).
Inventory value, § 113 (a) (1).

Involuntary conversion, § 113 (a) (9).
Partnerships, § 113 (a) (13).

Property acquired as paid-in surplus, § 113 (a) (8).
Property acquired before March 1, 1913, § 113 (a)
(14).

Property acquired by issuance of stock, § 113 (a) (8).
Property acquired by railroad corporation, § 113 (a)
(20).

Property acquired by shareholder in corporation, § 113
(a) (19).

Property acquired by state, suburban, or interurban
electric railway corporation, § 113 (a) (21).
Property acquired during affiliation, § 113 (a) (11).
Property acquired in exchanges and distributions
ordered by S. E. C., § 113 (a) (17).

Property acquired on certain reorganizations, § 113
(a) (22).

Property on which lessee has made improvements,
§ 113 (c).

Property received by corporation on complete liqui
dation of another, § 113 (a) (15).

Property received in certain corporate liquidations,
§ 113 (a) (18).

Property transmitted at death, § 113 (a) (5).
Substituted basis, § 113 (b) (2).

Tax-free exchanges generally, § 113 (a) (6).

Transfer in trust after December 31, 1920, § 113 (a)
(3).

Before January 1, 1921, § 113 (a) (4).
Transfers to corporation, § 113 (a) (7).
Wash sales of stock, § 113 (a) (10).

ADJUSTED BASIS OF EMERGENCY FACILITY
Determination of, § 124 (f).

ADJUSTED CORPORATION SURTAX NET IN-
COME

Life insurance companies, § 203 (a).

ADJUSTED DECLARED VALUE

Capital stock taxes

Corporations in bankruptcy or receivership, § 1202

(c).

Declaration year, § 1202 (a).

Declared value, § 1202.

Domestic corporations, § 1202 (b) (1).

Foreign corporations, § 1202 (b) (2).

Subsequent years, § 1202 (b).

Excess-profits taxes

Adjusted declared value, § 601.

Defense tax, § 600 (b).

Fractional years, § 605.

ADJUSTED DECLARED VALUE-Cont.
Excess-profits taxes-Cont.

Net income, § 602.

Rates, § 600 (a).

ADJUSTED EXCESS PROFITS NET INCOME
Excess profits net income minus

Excess profits credit, § 710 (b) (2).

Specific exemption, § 710 (b) (1).

Unused excess profits credit, § 710 (b) (3).

ADJUSTED GROSS ESTATE

Computation, § 812 (e) (2).
ADJUSTED GROSS INCOME
Definition, § 22 (n).

ADJUSTED NET INCOME
Corporations, § 13 (a) (1).
Definition, § 13 (a) (1).

ADJUSTED NORMAL TAX NET INCOME
Life insurance companies, § 202 (a).
ADJUSTED RESERVES

Life insurance companies, § 201 (c) (3).

ADJUSTMENT WHERE PRIOR INCOME TAX
POSITION INCONSISTENT

Ascertainment of amount of adjustment, § 734 (d).
Burden of proof, § 734 (b) (3).

Circumstances of adjustment, § 734 (b).
Controlled defined, § 734 (a) (4) (b).
Income tax defined, § 734 (a) (2).

Interest in case of net increase or decrease, § 734 (e).
Method and effect of adjustment, § 734 (c).
Predecessor of the taxpayer defined, § 734 (a) (4).
Prior taxable year defined, § 734 (a) (3).
Taxpayer defined, § 734 (a) (1).

ADMINISTRATION

Estates and trusts, during period of, § 162 (c).

ADMINISTRATION EXPENSES

Deductibility from gross estate, § 812 (b) (2).
Property subject to, § 812 (b).

ADMINISTRATIVE PROVISIONS
Gift taxes, § 1028.

Laws made applicable, § 61.
Personal holding companies, § 508.
Publication of statistics, § 63.
Rules and regulations, § 62.
Unjust enrichment tax, § 702.
ADMINISTRATIVE REVIEW
Commissioner's decisions, § 3790.
ADMINISTRATOR

See "Executor."

ADMISSIBLE AND INADMISSIBLE ASSETS

Admissible assets, defined, § 720 (a) (2).
Computation of short term capital gain, § 720 (c).
Government obligations as admissible assets, § 720
(d).

Inadmissible assets, defined, § 720 (a) (1).

Ratio of inadmissible to total assets, § 720 (b).

ADVANCE PAYMENT

Gift tax, § 1008' (c).

Income tax, § 56 (d).

ADVERTISING, ETC.

Capitalization of, §§ 23 (a) (1) (C), 733.

AVOIDANCE OF EXCESS PROFITS TAXES

Acquisitions for purpose of, § 129.

AVOIDANCE OF INCOME TAXES

Acquisitions for purpose of, § 129.

AFFILIATED CORPORATIONS

China Trade Act Corporations, § 264.
Consolidated returns, § 141.

Excess profits taxes, § 730.

Foreign corporations, § 238.

Gain or loss on property acquired during affiliation,

ALIMONY

Deductibility

Income tax, § 23 (u).
Gross income, § 22 (k).
Trusts, § 171.

ALLOCATION

Income and deductions, § 45.
Consolidated returns, § 141 (i).
ALTERNATIVE TAXES

Capital gains and losses, § 117 (c).
Corporations, § 117 (c) (1).
Other taxpayers, § 117 (c) (2).
Rates, §§ 13 (b) (2), 600 (b).

AMORTIZABLE BOND PREMIUM
See "Bond Premium."

AMORTIZATION

Adjusted basis of emergency facility, § 124 (f).
Definition, § 124 (e).

Emergency facility, § 124 (e) (1).

Emergency period, § 124 (e) (2).
Depreciation deduction, § 124 (g).
Election of taxpayer, § 124 (b).

Recomputation of tax in case of, § 124 (d) (5).
Estates and trusts, § 172.

General rule, § 124 (a).

Insurance companies other than life or mutual, § 207

(d).

Life insurance companies, § 201 (b).

Life tenant, § 124 (i).

Partnerships, § 190.

Payment by United States of unamortized cost of

facility, § 124 (h).

Remaindermen, § 124 (i).

Termination of amortization deduction, § 124 (c).
Amortization period, § 124 (d).

AMORTIZATION OF PREMIUM

See "Bond Premium."

Life insurance companies, § 201 (e).

Mutual insurance companies other than life or marine,

§ 207 (d).

AMOUNT OF OBLIGATIONS OF UNITED STATES
Definition, § 453 (a).

AMOUNT OTHERWISE DEDUCTIBLE UNDER
THIS SUBSECTION

Definition, § 812 (c) (2).

AMOUNTS DISTRIBUTED IN PARTIAL LIQUI-

DATION

Definition, § 115 (i).

AMOUNTS PAID TO HOLDERS OF LIFE OR
TERMINABLE INTEREST

Nondeductibility, § 24 (d).

ANNUAL BASIS

General, § 41.

Income placed on, § 47 (c).

Personal holding company income, § 505 (e).