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accrued amortization apply assessed basis beneficiary bracket calendar year 1918 cent bonds centum certificates of indebtedness claim collector Commissioner compensation contract cost deductible from gross deductions allowed depletion depreciation determined distributive share dividends earnings or profits employees entitled excess profits tax expenses fair market value February 28 fiduciary filed foreign corporation gross income included income derived income exceeds income tax installment intangible property interest inventory Liberty Bond liberty loan March ment nonresident alien individual normal tax owner partnership payable payment personal exemption personal service corporation premium prewar period prior profits and excess purchase purpose rates received refund resident return of income Revenue Act revised section 216 securities specific exemption statute and articles stock or shares stockholders subdivision Surplus and undivided surtax tax computed tax imposed taxable year 1918 taxpayer thereof tion trade or business undivided profits United war-profits
Page 261 - If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 52 - That in computing net income there shall be allowed as deductions: (1) All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 217 - ... shall, in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than one year, or both, together with the costs of prosecution.
Page 153 - In cases where receivers, trustees in bankruptcy, or assignees are operating the property or business of corporations, such receivers, trustees, or assignees shall make returns for such corporations in the same manner and form as corporations are required to make returns. Any tax due on the basis of such returns made by receivers, trustees, or assignees shall be collected in the same manner as if collected from the corporations of whose business or property they have custody and control.
Page 133 - Fraternal beneficiary societies, orders, or associations, (a) operating under the lodge system or for the exclusive benefit of the members of a fraternity itself operating under the lodge system...
Page 207 - The amount so added to any tax shall be collected at the same time and in the same manner and as part of the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the amount so added shall be collected in the same manner as the tax.
Page 30 - Includes gains, profits, and income derived from salaries, wages, or compensation for personal service * * * of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce...
Page 52 - ... rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity...