A Treatise on the Law of Income Taxation Under Federal and State Laws
Black, Henry Campbell. A Treatise on the Law of Income Taxation under Federal and State Laws. Kansas City: Vernon Law Book Co., 1913. xlii, 403 pp. Reprinted 2002 by The Lawbook Exchange, Ltd. ISBN 1-58477-237-9. Cloth. $85. * In 1913, the Sixteenth Amendment, which authorized income taxation, was ratified by the required three-fourths majority of states. Black [1860-1927] published this work soon after this historic event in order to define the nature of taxable income, explain the history of income taxation and defend the government's right to impose it. He is guided throughout by a Progressive-Era belief in the federal government as an agent of social reform. Black is also the author of the well-known Law Dictionary.
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Page xxxii - The proceeds of life insurance policies paid to individual beneficiaries upon the death of the insured; the amount received by the insured, as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts, either during the term or at the maturity of the term mentioned in the contract or upon surrender of the contract: the value of property acquired by gift, bequest, devise, or descent (but the income from such property shall be included as income...