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COMMISSIONER OF INTERNAL REVENUE,

additional assessment, 541.

authority to examine books and records, 12.

to make deduction of tax at source, 16.

in submitting matter to board of review and appeal, 5.
to keep record of excess profits tax, 707.

extension of time for returns, 502-503.

granting extension beyond due date of third installment, 505.
makes all assessments of income tax, 516.

may declare taxable period terminated to enforce payment of tax, 517.
may designate inspectors to examine partnership books, 123.

may determine necessity of inventories to determine net income, 251.
may direct manner of accounting for income by partnerships, 118.
promulgation of rulings and regulations, 6.

publication annually of statistical income, 515.

receiver of decision of Committee on Revenue and Appeal, 551.
recovery of taxes paid from Commissioner, 529.
regulations concerning report of income, 229-230.
return of application for replacement fund, 322.
right to inspect government contracts, 580.
submission of questions to committee, 550.

COMMISSIONS,

deduction as business expense, 346.

information concerning commissions, 586.
taxable as income, 239.

withholding at source, 600.

COMMITTEE,

stamp tax on transfer of stock to committees, 760.

COMMITTEE ON REVIEW AND APPEAL,

authority of individual members, 6.

hearings of controverted questions, 6.

personnel and duties, 5.

procedure before, 551.

submission of questions, 550.

transfer of power from advisory tax board, 550.

COMPENSATION,

death or disability under war risk insurance, not subject to tax, 324-325.
for loss of property when taxable, 320-321.

information at source concerning compensation, 586, 587.

paid other than in cash, how income determined, 239, 240.

COMPROMISE,

offer in compromise in suit for penalties, 559.

payment of tax, 552-561.

specific and ad valorem penalties, 559.

COMPUTATION,

illustration of war-profits and excess-profits tax, 947.

net income of partnerships, 106.

CONCEALMENT,

procedure when taxpayer contemplates removal or concealment of prop-
erty, 549.

CONGRESS,

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construction of statutes, 839-853.

power to enforce collection of tax by levy and distress, 517.
proceedings as aid to construction of statutes, 842.

CONSENT,

beneficiaries to filling vacancies among trustees, 140.

CONSERVATORS,
fiduciaries, 69.

CONSOLIDATED RETURNS,
corporations, 160, 992.

different fiscal years of affiliated corporations, 167.
foreign corporations, 206.

CONSOLIDATED BALANCE SHEETS,.
preparation by affiliated corporations, 168.

CONSTITUTIONAL LAW,

constitutionality of child labor law, 838.

of federal tax on salaries of state officers, 245.

of income tax on exported goods, 249.

of law not subject to inquiry in suit to enjoin collection of tax,
518.

of stamp tax, 822.

of statute providing for examination of taxpayer's books, 580.
of taxing stock dividends without apportionment, 314.

construction of amendment, 630.

construction of constitutional provisions, 629.

construction of statute which will render them constitutional, 842.

due process in income tax laws, 638.

effect of exemption of certain corporations, 641.

Gray v. Darlington, 631.

principles by which statutes are tested, 629.

power of Congress to levy income taxes, 631.

purpose of sixteenth amendment, 4.

requirement of disclosure of interest on state and municipal obligations
637.

requirement of uniformity of taxes, 641.

retroactive features of tax law, 641.

taxation of gains and profits from sale of property, 631.

CONSTRUCTION OF STATUTE,

adoption of construction which will be constitutional, 842.

effect of rulings and practice of treasury department, 844.

exemption from taxation, 851.

general rules, 839-853.

proceedings in Congress as aid to construction, 842.

reference to similar statutes, 845.

rule followed by treasury department, 852, 853.

similar statutes in other jurisdiction as aid to construction, 846.
strict and liberal construction discussion, 847-851.

CONSTRUCTIVE RECEIPT,

basis of income, 228-230.

CONTRACTORS,

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contractor with state held not state officers, 247.

method of making returns of gross income, 248.

profit received by independent contractor from state contract, subject
to tax, 323.

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deduction of contributions to charities by corporations, 152.

inclusion of contributions by stockholders in corporate returns, 147.
not subject to tax, 325.

CONVEYANCE,

consideration or value as fixing amount of stamp tax, 769.
stamp tax, 768.

on contracts to convey, 773.

tax on realty sold, 770.

voiding for failure to stamp, 821.

when stamp tax accrues, 769.

where stamps are affixed, 769.

who affixes stamps, 768.

COOPERATIVE ASSOCIATIONS,

dividends not subject to income tax, 292.

exemption of associations for marketing produce, 219.
report of dividends to farmers, 100.

COOPERATIVE BANKS,

exemption, 212.

COOPERATIVE DAIRIES,

exemption, 220.

COOPERATIVE ORGANIZATIONS,
exemption, 217.

COPIES,

returns of income, not permitted to be sent out, 513.

COPYRIGHTS,

deduction for depreciation, 404-405.

determination of gain upon sale, 268.

royalties received therefrom subject to income tax, 290.

species of intangible property, 661.

CORPORATIONS,

See CAPITAL STOCK TAX; EXCESS-PROFITS TAX; EXEMPT ORGANIZATIONS;
FOREIGN CORPORATIONS; PERSONAL SERVICE CORPORATIONS;

STAMP TAX.

accounting period for distribution of dividends, 308.

affiliated corporation deriving chief income from government contracts,

CORPORATIONS-Cont.

INDEX

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agent of non-resident as source of information of income paid, 590.
basis and rate of capital stock tax, 718.

beneficiaries of life insurance subject to income tax, 324.

by whom returns filed, 158.

signed and sworn to, 158.

capacity to act as fiduciaries, 69.

capital of personal service corporation, 131.

capital stock tax, 715.

of holding companies, 725.

on inactive corporations, 726.

character of domestic not affected by income from sources outside
United States, 142.

collection of foreign items, 173.

collection of tax from assets, 172.

consolidated returns, 160.

by affiliated corporations, 160, 491.

credit of amount of war-profits and excess-profits tax, 153.

paid to foreign countries, 154.

received on federal obligations, 153.

credit of bonus stock not receipt of income, 228.

credit of dividends against net income, 475.

credit of income tax paid in foreign countries, 484.

credit of taxes paid by domestic corporations owning stock of foreign
corporations, 484.

credits against net income, 153.

credits allowed deducted from net income, 236.

deductions allowed in tax law, 987.

for sale and retirement of bonds, 354.

in computing net income, 148.

of amount of guaranty of profits of holding companies, 150.

of amount paid on redemption of preferred stock, 152.

of amounts paid to make up profits of another corporation, 381.

of dividends on stock of other corporations, 152.

of interest on sale and retirement of corporate bonds, 360.

of interest on tax-free bonds, 151.

of interest paid on indebtedness, 150.

of interest under revenue act of 1916, 855.

of irrigation assessments by farmers, 103.

of losses, 151.

of loss on sale of capital stock, 382.

of ordinary and necessary expenses, 148.

of shrinkage of stock, 382.

of taxes paid, 150.

of taxes paid by corporation for stockholders, 368.

of voluntary payment by stockholders of corporate loss, 382.

of worthless stock, 382.

defined, 137, 714, 965.

determination of gain or loss in reorganization or dissolution of corpo-

rations, 261.

distinction between credits and deductions, 153.

distinction between normal tax and graduated excess tax, 14.

distinguished from partnerships, 138.

dividends received.

by nominal stockholders when taxable, 299.
subject to income tax, 291.

subject to rates for different years, 308.

upon which partnership is allowed credit, 115.

CORPORATIONS-Cont.

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doing business as essential element of taxability, 137.

duties in matter of making returns, 156.

duty of parent to make return for affiliated corporation, 160.

duty to make returns depends on existence and not receipt of income,
156,

duty to submit balance sheet for estimate of excess-profits tax, 711.
effect of change of ownership of affiliated corporation during taxable
year, 165.

effect of change of name on duties to make return, 159.

effect of exemption on certain corporations from payment of tax, 641.
effect of failure to disclose status of nominal stockholder, 67.

effect of increase or reduction of capital stock on excess profits tax, 690.
examination of books to ascertain correctness of return, 583.

examination of corporate records, 174.

excess-profits tax on income from government contracts, 649.
excess-profits tax on gold-mining corporations, 650.

exempt corporations required to furnish information at source, 544.
exemption from capital stock tax law, 732.

exemption of corporation owned by exempt corporations, 220.

exemption of interest received on liberty bonds, 147.

extension of time for filing returns, 156.

farm and plantation operation, 95.

fiscal year for return purposes, 155.

forms required, 506.

incapacity to act as resident agent, 59.

inclusion in gross income of receipts from leased property, 146.
in gross income of proceeds of sale of capital stock, 146.

of contributions by stockholders, 147.

of expense incurred in sale of capital stock, 149.

of joint-stock companies and associations, 137.

of organization expenses in return, 149.

of tangible property taken for stock in return for excess-profits
tax, 659.

income from sources in United States' possessions, 9.

income taxable in hands of trustee in bankruptcy, 155.

information at source concerning dividends on stock, 588.

concerning interest on obligations, 589.

inspection of returns of income of corporations whose stock is listed on
stock exchange, 514.

liability for tax on dissolution, 171.

of bonus stock to excess-profits tax, 658.

of nonresident for interest received on corporations doing busi-
ness without United States, 46.

to excess-profits tax, 648.

limited partnerships as corporations, 7, 108, 717.

liquidation or dissolution dividends, 293.

loss on sale of capital assets, 376.

nominal stockholders, 62.

for nonresident aliens, 62.

non-liability to surtax, 19, 66, 136.

ownership certificates as returns of information of interest on obliga-
tions, 595.

participation in joint adventure not constituting partnership, 110, 111.
payment of tax, 171.

on shares of stock owned by another corporation, 369.
payments which need not be reported, 588.

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