Revenue Act of 1924, Volumes 1-11U.S. Government Printing Office, 1924 - Finance |
Common terms and phrases
25 per cent amount assessment banks BEAMAN bill Budget Bureau CHAIRMAN chargeable against ordinary CHARLES CURTIS collected COMMITTEE ON FINANCE Congress corporations DAVIS ELKINS Director effect estate tax estimate existing law fiscal year 1922 going GREGG high surtaxes income and profits income tax indebtedness inheritance tax internal revenue invested June 30 Liberty bonds Liberty loan liquidation McCoy ment Mexico million Miscellaneous Northern R. R. obligations ordinary receipts paid payment Pittman Act Poor's profits tax provision public debt question Railroad receipts and expenditures reduced REED of Missouri REED of Pennsylvania REED SMOOT refund retirement revenue act Secretary MELLON securities Senator GERRY Senator JONES Senator KING Senator MCLEAN Senator REED Senator SIMMONS Senator WALSH Senator WATSON sinking fund Smoot statute surplus taxation taxpayer tion Total Treasury Department United WALSH of Massachusetts War Finance Corporation WINSTON
Popular passages
Page 2 - Whenever In the Judgment of the Commissioner necessary he may require any person, by notice served upon him, to make a return, render under oath such statements, or keep such records, as the Commissioner deems sufficient to show whether or not such person Is liable to tax under this chapter.
Page 2 - That all administrative, special or stamp provisions of law, including the law relating to the assessment of taxes, so far as applicable, are hereby extended to and made a part of this act. and every person liable to any tax imposed by this act. or for the collection thereof, shall keep such records and render, under oath, such statements and returns, and shall comply with such regulations as the commissioner, with the approval of the secretary, may from time to time prescribe.
Page 3 - The amount of income taxes imposed by this title shall be assessed within three years after the return was filed, and no proceeding in court without assessment for the collection of such taxes shall be begun after the expiration of such period.
Page 28 - States issued under authority of this act- and if such bonds are not available for this purpose the Secretary of the Treasury shall redeem or purchase any other outstanding interest-bearing obligations of the United States which may at such time be subject to call or which may be purchased at not more than par and accrued interest.
Page 214 - ... (The members of the committee in favor of the amendment voted "aye.") The CHAIRMAN. Those who are opposed will say " no." (The members of the committee opposed to the amendment voted "no.") The CHAIRMAN. If you prefer a roll call, Mr. Kelly, we will have it. Mr. KELLY. I ask for a roll call. The CHAIRMAN. The clerk will call the roll. (Upon roll call the following members voted '' aye " : Lenroot, Garrett, Foster, and Campbell. The following voted "no": Kelly. Not voting: Hardwick, Conry, Merritt,...
Page 34 - If not, the committee will stand adjourned until 10 o'clock tomorrow morning. (Whereupon, at 12 o'clock noon, the committee...
Page 2 - ... to be under oath may, if the amount of the tax covered thereby is not in excess of $10, be signed or acknowledged before two witnesses instead of under oath.
Page 112 - ... about $500,000,000 for the taxable year 1921. The estimated yield for the year from the surtax rates above 32 per cent would be about $100,000,000. The immediate loss in revenue that would result from the repeal of the higher surtax brackets would be relatively small, and the ultimate effect should be an increase in the revenues. 3. Retain the miscellaneous specific-sales taxes and excise taxes, including the transportation tax, the tobacco taxes, the tax on admissions, and the capital-stock...
Page 6 - This section shall not (1) authorize the assessment of a tax or the collection thereof by distraint or by a proceeding in court if at the time of the enactment of this Act such assessment, distraint, or proceeding was barred by the period of limitation then in existence, or (2) affect any assessment made, or distraint or proceeding in court begun, before the enactment of this Act.
Page 57 - The CHAIRMAN. The committee will stand adjourned until Monday morning at 10 o'clock. (Whereupon, at 12.05 o'clock pm, the committee adjourned until Monday, December 18, 1922, at 10 o'clock am) \ RURAL CREDlTS.