Internal Revenue Cumulative BulletinDepartment of the Treasury, Internal Revenue Service, 1978 - Tax administration and procedure |
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Common terms and phrases
adjusted basis allowed amended amount apply assets basis benefit claim for refund Code provides Commissioner computed Court decedent decedent's December 31 deduction described in section distribution dividends earnings and profits election employees estate tax exchange excise tax exemption expenses Federal income tax Federal Register filed foreign corporation gift tax gross income imposed by section Income Tax Regulations income tax return individual interest Internal Revenue Code Internal Revenue Service investment issued liability LIFO manufacturer meaning of section ment organization paid paragraph payer payment percent period person poration prior purchaser qualify real property received regu relating requested reserve for losses respect return or claim Revenue Ruling rule section 367 shareholders sold suant subparagraph tax imposed tax-free sales taxable years beginning taxpayer tion trade or business transaction transfer Treasury trust United vides Worthen written determination
Popular passages
Page 257 - No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment.
Page 99 - ... it has been established to the satisfaction of the Secretary or his delegate that such exchange is not in pursuance of a plan having as one of its principal purposes the avoidance of Federal income taxes.
Page 161 - 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 320 - ... an educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on...
Page 286 - ... under which he has retained for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...
Page 290 - To the extent of any interest therein of which the decedent has at any time made a transfer, by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power, either by the decedent alone or in conjunction with any person, to alter, amend, or revoke...
Page 91 - No gain or loss shall be recognized If property is transferred to a corporation by one or more persons solely In exchange for stock or securities in such corporation, and Immediately after the exchange such person or persons are in control of the corporation...
Page 17 - Gross income" 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, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent dividends, securities, or the transaction...
Page 236 - States and of a domestic corporation, the amount of any income, war profits, and excess profits taxes paid or accrued during the taxable year to any foreign country or to any possession of the United States; and (2) Resident of the United States or Puerto Rico.
Page 282 - Code provides that the value of the gross estate shall include the value of all property to the extent of any interest therein of which the decedent has at any time after June 22, 1936, made a transfer (except in case of a bona fide sale for an adequate and full consideration in money or money's worth...