Individual Income Tax Provisions of the Internal Revenue Code: Applicable to Taxable Years Beginning in 1944 Or Later

Front Cover
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

PART IVACCOUNTING PERIODS AND METHODS OF ACCOUNTING Sec 41 General rule
31
Period for which deductions and credits taken
32
Allocation of income and deductions
33
Definitions
35
Time and place for filing returns
36
Records and special returns
37
Payment of tax
40
Examination of return and determination of tax
41
Payment of estimated tax
43
MISCELLANEOUS PROVISIONS Page Sec 61 Laws made applicable
45
Claims against United States involving acquisition of property
46
SUPPLEMENT B COMPUTATION OF NET INCOME Sec 111 Determination of amount of and recognition of gain or loss
47
Recognition of gain or loss
48
Adjusted basis for determining gain or loss
56
Special rules for application of sections 58 and 59 44
59
Basis for depreciation and depletion
62
Distributions by corporations
64
Exclusions from gross income
68
Capital gains and losses
70
Loss from wash sales of stock or securities
75
Unlimited deduction for charitable and other contributions
78
Commodity credit loans
80
Amortizable bond premium
86
Income in respect of decedents
88
War losses
89
Recovery of unconstitutional Federal taxes
94
Limitation on deductions allowable to individuals in certain cases
95
CREDITS AGAINST TAX Sec 131 Taxes of foreign countries and possessions of United States
96
RETURNS AND PAYMENT OF TAX Sec 142 Fiduciary returns
97
Withholding of tax at source
98
Penalties
101
Closing by Commissioner of taxable year
102
Information at source
103
Returns of brokers
105
Net income
106
Credits against net income
108
Different taxable years
109
Revocable trust
111
Common trust funds 112
112
Net operating losses
113
Allowance of amortization deduction
114
Credits against net income
115
Different taxable years of partner and partnership
116
Gross income
117
Deductions
118
Credits against tax
119
Citizens of possessions of United States
120
Definition of deficiency
121
Jeopardy assessments
124
Bankruptcy and receiverships
126
SameExceptions
127
Suspension of running of statute
128
Additions to the tax in case of nonpayment
129
Time extended for payment of tax shown on return
131
SUPPLEMENT N CLAIMS AGAINST TRANSFEREES AND FIDUCIARIES Sec 311 Transferred assets
132
Notice of fiduciary relationship
133
Cross reference
134
SUPPLEMENT R EXCHANGES AND DISTRIBUTIONS IN OBEDIENCE TO ORDERS OP SECURITIES AND EXCHANGE COMMISSION Sec 3...
148
Basis for determining gain or loss
149
TAX OF SHAREHOLDERS OF PERSONAL SERVICE CORPORATIONS Sec 391 Applicability of Supplement
150
Undistributed Supplement S net income
151
Nonresident alien individuals
152
Definition of surtax exemption
154
CHAPTER 5THE TAX COURT OF THE UNITED STATES Subchapter AOrganization Jurisdiction and Procedure part i organization and jurisdictio...
155
Offices
156
Witness fees
157
Provisions of special application to divisions
158
Provisions of special application to transferees
159
MISCELLANEOUS PROVISIONS Sec 1133 Fee for transcript of record
160
Courts of review
161
Petition for review
162
Subtitle BMiscellaneous Taxes CHAPTER 9EMPLOYMENT TAXES Subchapter DCollection of Income Tax at Source on Wages Sec 1621 Definitio...
163
Income tax collected at source
164
Liability for tax
176
Penalties
177
Subchapter EGeneral Provisions Sec 1630 Verification of returns etc
178
Subtitle DGeneral Administrative Provisions CHAPTER 34INFORMATION AND RETURNS Subchapter ADiscovert of Tax Liability Sec 3600 Canv...
179
Subchapter BDetermination of Tax Liability Sec 3612 Returns executed by Commissioner or collector
180
Summons from collector to produce books and give testimony
181
Penalties
182
Authority to administer oaths take testimony and certify
183
CHAPTER 35ASSESSMENT Sec 3640 Assessment authority
184
CHAPTER 36 COLLECTION Subchapter AGeneral Provisions Sec 3650 Collection districts
185
Establishment by regulation of mode or time of collection
186
Payment by check
187
Enforcement of liability for taxes collected
188
Release of lien
189
Effect of certificates of release or partial discharge
190
Civil action to clear title to realty
191
Property exempt from distraint
192
Property for account of the United States
193
part iidistraint on real estate Sec 3700 Authority to distrain
194
Redemption of real estate
195
Transmission of certificates and deeds to Commissioner
196
GENERAL PROVISIONS Fag Sec 3710 Surrender of property subject to distraint
197
Period of limitation upon distraint
198
Suits for fines penalties and forfeitures
199
Disposition of judgments and moneys recovered
200
Subchapter FClosing Agreements and Compromises Sec 3760 Closing agreements
201
Penalties
202
CHAPTER 37ABATEMENTS CREDITS AND REFUNDS Sec 3770 Authority to make abatements credits and refunds
203
Suits for refund
204
Refunds after periods of limitation
205
Credits after periods of limitation
206
CHAPTER 38MISCELLANEOUS PROVISIONS Sec 3790 Prohibition of administrative review of Commissioners decisions
207
Interest on delinquent taxes
208
Income from obligations and mortgages issued by jointstock land banks
210
Separability clause
213
Mitigation of effect of renegotiation of war contracts or dis allowance of reimbursement
218
Subtitle EPersonnel CHAPTER 41COLLECTORS OF INTERNAL REVENUE Subchapter DCovering of Collections Into the Treasury Sec 3971 Dep...
223
Internal Revenue Code provisions referred to but not in cluded in the retained text
225
Table of current amendments to the individual income tax and related provisions of the Internal Revenue Code
247
Index
253

Common terms and phrases

Popular passages

Page 229 - Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this chapter...
Page 106 - The net income of the estate or trust shall be computed in the same manner and on the same basis as in the case of an individual...
Page 24 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate...
Page 58 - ... shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.
Page 39 - ... it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 238 - ... reasonably required and actually expended for the support during the settlement of the estate of those dependent upon the decedent, as are allowed by the laws of the jurisdiction, whether within or without the United States, under which the estate is being administered...
Page 116 - ... engaged in trade or business within the United States and not having an office or place of business therein, from sources within the United States as interest (except interest on deposits with persons carrying on the banking business), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable annual or periodical gains, profits, and income...
Page 51 - Is subject to a liability, shall be disregarded, or (D) a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor or its...
Page 50 - ... to be received without the recognition of gain, but also of other property or money, then the gain, if any, to the recipient shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property.
Page 240 - September 1, 1944), to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes...

Bibliographic information