Internal Revenue BulletinDepartment of the Treasury, Internal Revenue Service, 1961 - Tax administration and procedure |
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Common terms and phrases
adulterated butter aggregation alcohol amended amount annuity application basis carryback carryover computed contracts corporation Cumulative Bulletin death taxes decedent December 31 deduction defined in section determined distilled spirits district director dividends employee estate tax Example excise tax exemption Federal Register filed filled cheese gross income imposed by section income tax inspection insurance company insurance reserves Internal Revenue Bulletin Internal Revenue Code Internal Revenue Service January lease liability LIFO loss from operations manufacturer ment oleomargarine operating mineral interest operations loss option package paid paragraph payment percent person policyholders prescribed Proc procedures provisions of section published purposes refund regulations relating respect retail Revenue Procedure Revenue Rulings section 809 shareholders silver bullion special tax stamps Stat STATUTORY PROVISIONS subchapter subparagraph Subpart surplus account tax imposed taxable year beginning taxpayer thereof tion transfer transferor Treasury Decision United white phosphorus
Popular passages
Page 10 - The legal right of a taxpayer to decrease the amount of what otherwise would be his taxes, or altogether avoid them, by means which the law permits, cannot be doubted.
Page 91 - When construing and enforcing the provisions of this Act, the act, omission, or failure of any official, agent, or other person acting for or employed by any association, partnership, or corporation within the scope of his employment or office, shall, in every case, also be deemed the act, omission, or failure of such association, partnership, or corporation as well as that of the person. SEC.
Page 143 - ... when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or any State or Territory. (5) Foreign. The term "foreign" when applied to a corporation or partnership means a corporation or partnership which is not domestic. (6) fiduciary. The term "fiduciary" means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. (9) United States. The term "United...
Page 136 - ... in any manner contrary to law, or who falsely brands any package or affixes a stamp on any package denoting a less amount of tax than that required by law...
Page 66 - In the case of an interest in property passing from the decedent, if his surviving spouse is entitled for life to all the income from the entire interest, or all the income from a specific portion thereof, payable annually or at more frequent intervals, with power in the surviving spouse to appoint the entire interest, or such specific portion...
Page 47 - ... oleomargarine," namely: All substances heretofore known as oleomargarine, oleo, oleomargarine oil, butterine, lardine, suine and neutral; all mixtures and compounds of oleomargarine, oleo, oleomargarine oil, butterine, lardine, suine, and neutral; all lard extracts and tallow extracts; and all mixtures and compounds of tallow...
Page 140 - That if any manufacturer of oleomargarine, any dealer therein or any importer or exporter thereof shall knowingly or willfully omit, neglect, or refuse to do, or cause to be done, any of the things required by law in the carrying on or conducting of his business, or shall do anything by this...
Page 10 - If an exchange would be within the provisions of subsection (b) (1), (2), (3), or (5) of this section if it were not for the fact that the property received in exchange consists not only of property permitted by such paragraph to be received without the recognition of gain...
Page 34 - ... (2) General rule. — If, during the taxable year, the recognized gains upon sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or the threat or imminence thereof...
Page 144 - Where not otherwise distinctly expressed or manifestly incompatible with the intent thereof, references in this title to possessions of the United States shall be treated as also referring to the Commonwealth of Puerto Rico. (d) Cross references — (1) Other definitions.