The Income Tax and Other Federal Taxes |
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Page 10
... liability ( as either individual or corporation ) can be ascertained by consulting the appropriate chapters , paragraphs or parts of the general income tax instructions that follow . Wherein any of such instructions do not apply to the ...
... liability ( as either individual or corporation ) can be ascertained by consulting the appropriate chapters , paragraphs or parts of the general income tax instructions that follow . Wherein any of such instructions do not apply to the ...
Page 12
... liability . 2. THOSE WHO MUST FILE RETURNS . Under the operation of both laws a return must be filed by ( a ) Every individual who is a citizen or resident of the United States , and who , if single , has a net income of $ 1,000 or more ...
... liability . 2. THOSE WHO MUST FILE RETURNS . Under the operation of both laws a return must be filed by ( a ) Every individual who is a citizen or resident of the United States , and who , if single , has a net income of $ 1,000 or more ...
Page 13
Joseph Jay Scott. 4. - COMPUTATION OF INDIVIDUAL TAX . The income tax liability of an individual who is a citizen or resi- dent of the United States will be ascertained , in general , as follows : ( 1 ) Determine Net Income . Determine ...
Joseph Jay Scott. 4. - COMPUTATION OF INDIVIDUAL TAX . The income tax liability of an individual who is a citizen or resi- dent of the United States will be ascertained , in general , as follows : ( 1 ) Determine Net Income . Determine ...
Page 14
... liability , the individual is en- titled to deduct from the amount of such liability any amount of nor- mal tax which has been withheld at the source , and the remainder is the amount of normal tax still due the Government . ( 7 ) Get ...
... liability , the individual is en- titled to deduct from the amount of such liability any amount of nor- mal tax which has been withheld at the source , and the remainder is the amount of normal tax still due the Government . ( 7 ) Get ...
Page 16
... liability is $ 40 plus $ 72 plus $ 10 or $ 122 . No. 6 John Morrison is a widower supporting two daughters , aged 6 and 9 , respectively . He is a lawyer by profession . His net income is $ 52,000 . It is all from the practice of his ...
... liability is $ 40 plus $ 72 plus $ 10 or $ 122 . No. 6 John Morrison is a widower supporting two daughters , aged 6 and 9 , respectively . He is a lawyer by profession . His net income is $ 52,000 . It is all from the practice of his ...
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Common terms and phrases
Act of October Act of September actual cash value additional tax allowable deductions amount paid apply ascertained basis bonds calendar cent centum certificates citizen or resident claim collected Collector of Internal Commissioner of Internal company or association computation corporation or partnership cost depletion depreciation District dividends domestic corporation domestic partnership duction earnings Excess Profits Tax Excise Tax expense file a return fiscal foreign corporation gross income included income exceeds Income Tax law indebtedness insurance company interest paid Internal Revenue invested capital issued joint-stock company loss manufacturer ment net estate nineteen hundred non-resident alien normal tax par value payment person premium prescribed price or value purpose return of income sold sources stamp stockholders subdivision subject to tax tax imposed taxable taxpayer thereof tion total net income trade or business Treasury Department Twin Peaks Tunnel U. S. Supreme Court United
Popular passages
Page 46 - In a case where the evidence of transfer is shown only by the books of the company the stamp shall be placed upon such books ; and where the change of ownership is by transfer of a certificate the stamp shall be placed upon the certificate; and in cases of an agreement to sell or where the transfer is by delivery of the certificate assigned in blank there shall be made and delivered by the seller to the buyer a bill or memorandum of such sale to which the stamp provided for by this article shall...
Page 66 - In a strict and legal seN.se that is properly the domicil of a person where he has his true, fixed, permanent home and principal establishment, and to which, whenever he is absent, he has the intention of returning (animus rercrtcndi) .u [Italics supplied.] Mr.
Page 47 - ... Conveyances: Deed, instrument, or writing, whereby any lands, tenements, or other realty sold shall be granted, assigned, transferred, or otherwise conveyed to, or vested in, the purchaser or purchasers, or any other person or persons, by his, her, or their direction, when the consideration or value of the interest or property conveyed, exclusive of the value of any lien or encumbrance remaining thereon at the time of sale, exceeds $100 and does not exceed $500, 50 cents; and for each additional...
Page 3 - Congress, the interest shall be exempt only if and to the extent provided in the respective Acts authorizing the issue thereof...
Page 40 - July seventeenth, nineteen hundred and sixteen; the compensation of the present President of the United States during the term for which he has been elected, and the judges of the Supreme and inferior courts of the United States now in office, and the compensation of all officers and employees of a State, or any political subdivision thereof, except when such compensation is paid by the United States Government.
Page 149 - All losses actually sustained and charged off within the year and not compensated by insurance or otherwise, including a reasonable allowance for the exhaustion, wear and tear of property arising out of its use of employment in the business or trade: (a) In the case of oil and gas wells, a reasonable allowance for actual reduction in flow and production...
Page 99 - 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 2 - Income accumulated in trust for the benefit of unborn or unascertained persons or persons with contingent interests, and income accumulated or held for future distribution under the terms of the will or trust...
Page 50 - ... (2) In the payment of any contributions, a fractional part of a cent shall be disregarded unless it amounts to one-half cent or more, in which case it shall be increased to 1 cent.
Page 4 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate; (3) Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made...