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Topic: Revenue Act of 1921

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	[No title]
		Revenue Act of 1916 The Revenue Act of 1916 was primarily concerned with raising revenue through a general increase in the marginal tax rates applicable to individuals.
		Revenue Act of 1918 The Revenue Act of 1918 was one of the largest tax increases in American history.
		Revenue Act of 1924 The Revenue Act of 1924 corrected the imbalance in the tax treatment of long-term capital losses created by the 1921 Act, by establishing a symmetrical treatment between long-term gains and losses.
	countingcalifornia.cdlib.org /crs/ascii/98-473 (5326 words)

	Revenue Revision Studies, 1937: Excise Taxes (cont.)
		The tax was revived by section 610 of the Revenue Act of 1932, effective June 21, 1932, which imposes a tax on the sale of firearms, shells, and cartridges by the manufacturer, producer, or importer, at the rate of 10 per cent of the price for which sold.
		Section 900(7) of the Revenue Act of 1918, effective February 25, 1919, continued the tax on cameras but extended the scope of the tax to include the lease of cameras and increased the rate of tax to 10 per cent of the price for which sold by the manufacturer, producer, or importer.
		Section 602(a) of the Revenue Act of 1921, effective January 1, 1922, imposed a tax at the rate of 2 cents a gallon on all beverages derived wholly or in part from cereals or substitutes therefor, containing less than one-half of one per cent of alcohol by volume, sold by the manufacturer, producer, or importer.
	www.taxhistory.org /Civilization/Documents/Surveys/hst23734/23734-7.htm (5881 words)

	Discharge
		278(c)(d)(e); and the Revenue Act of 1926, Chap.
		250(d) of the Act of 1918, 250(d) of the Act of 1921, and 277(a)(2) of the Act of 1925, for assessing the tax against the Angier Mills had expired before the Act of 1926 was passed.
		He undoubtedly acted as de facto officer of the Angier Mills during a period of about two years preceding its dissolution in 1923, and thereafter during the winding up of its affairs; and, as such, exercised and had authority to sign the waivers, for these acts were but steps in the liquidation of the corporation.
	www.irstaxattorney.com /liens/part5-liens/discharge.html (2784 words)

	[No title]
		Sections 21 to 27 of the Act amended title II of the Revenue Act of 1921, which was repealed by section 1100 of the Revenue Act of 1924 (43 Stat.
		Act June 25, 1936, substituted "district court of the United States for the District of Columbia" for "Supreme Court of the District of Columbia".
		The trustees are invested with the powers, and shall do all acts, necessary to wind up the affairs of the corporation and divide among the stockholders according to their respective interests the property of the corporation remaining after all obligations against it have been settled.
	uscode.house.gov /download/pls/15C4.txt (3234 words)

	Net Revenue (Site not responding. Last check: 2007-11-01)
		Revenue Act of 1978 The Revenue Act of 1764 was a law passed by Great Britain to enforce the provisions of the Sugar Act.
		The use of revenue stamps goes back further than that of postage stamps; the stamps of the Stamp Act of the 18th century were revenues.
		Revenue stamps have become less commonly seen in the 21st century, with the rise of computerization and the ability to use numbers to track payments accurately.
	www.wwwtln.com /finance/132/net-revenue.html (889 words)

	History of US tax law
		A new revenue act is passed increasing taxes on incomes in excess of $ 1 million per year to a rate of 77%.
		However, in an evident desire to compel the plaintiff to desist from further litigation, the court went beyond the venue determination to dismiss the action with prejudice on the basis of res judicata.
		Revenue Ruling 90-79 provides that a loss on a foreign currency mortgage cannot be used to offset taxable gain on the sale of a house in a foreign country.
	www.aca.ch /hisustax.htm (3869 words)

	Revenue Revision Studies, 1937: Excise Taxes (cont.)
		The provisions of section 905 of the Revenue Act of 1918 were reenacted in section 905(a) of the Revenue Act of 1921, effective January 1, 1922, without change, other than the addition of eyeglasses and spectacles to the articles exempted from the tax.
		Both subsections (1) and (2) of section 600 of the Revenue Act of 1924 provided that the sale or lease of a complete automobile truck, automobile wagon, or other automobile would be considered, for purposes of the tax, as the sale or lease of a chassis and a body.
		The tax was revived by section 606(c) of the Revenue Act of 1932, effective June 21, 1932, which imposes a tax on the sale by the manufacturer, producer, or importer of parts and accessories for automobile truck chassis and bodies, other automobile chassis and bodies, and motorcycles.
	www.taxhistory.org /civilization/Documents/Surveys/hst23734/23734-6.htm (4864 words)

	Opinions of the Solicitor of the Department of the Interior Relating to Indian Affairs p.351-375
		Section 725 of the Revenue Act of 1932 provided by subsection 8 that on deeds conveying realty there shall be assessed a tax of 50 cents where the consideration exceeds $100 and does not exceed $500, and increasing the tax for increased consideration named in the deed.
		Indian police acting under instructions of the Superintendent of an Indian agency, who in turn was acting under the directions of the Commissioner of Indian Affairs, had ejected a collector from a reservation on days when payments were being made to Indians, only reasonable force being used.
		The act is broad in scope, giving to the Secretary the power to alter the terms of the contracts provided the consent of the Indians and the purchaser be obtained.
	thorpe.ou.edu /sol_opinions/p351-375.html (10856 words)

	JCX-4-98 CAPITAL GAINS - W&M HEARING
		The 1986 Act provided that the maximum rate on capital gains (i.e., 28 percent) would not be increased in the event the top individual rate was increased by a subsequent public law (unless that law specifically increased the capital gains tax).
		The Revenue Act of 1934 provided for exclusion of varying percentages of capital gains and losses depending upon the period for which an asset was held.
		Under that Act, 20 percent of capital gains was excludible if an asset was held for one to two years, 40 percent if an asset was held for two to five years, and 60 percent if the asset was held for between five and 10 years.
	www.house.gov /jct/x-4-98.htm (4323 words)

	Lucas v. Earl (Site not responding. Last check: 2007-11-01)
		The earnings of a husband were all taxable to him in 1920 and 1921 even though he and his wife, residents of California, had entered into a valid contract that the earnings of either spouse should be received, held, taken, and owned by them as joint tenants.
		The Commissioner of Internal Revenue and the Board of Tax Appeals imposed a tax upon the whole, but their decision was reversed by the Circuit Court of Appeals, 30 F. (2d) 898.
		The provisions of the Revenue Act of 1921, c.
	pegasus.cc.ucf.edu /~bandy/earl.htm (494 words)

	Revenue Act - Wikipedia, the free encyclopedia
		A number of tax-related laws enacted by the United States Congress have been called the Revenue Act:
		The Revenue Act of 1764 was a law passed by Great Britain to enforce the provisions of the 1733 Sugar and Molasses Act.
		This is a disambiguation page: a list of articles associated with the same title.
	en.wikipedia.org /wiki/Revenue_Act (109 words)

	OLD COLONY R. CO. v. COMMISSIONER OF INTERNAL REVENUE, 284 U.S. 552 (1932) -- US Supreme Court Cases from Justia & Oyez
		The Revenue Act of 1921 defines gross income as including gains, profits, and income derived by the taxpayer from any source whatever, and provides that in computing net income of a corporation 'all interest paid or accrued within the taxable year on its indebtedness' is deductible from such gross income.
		The proportion of the premiums attributable to 1921 and reported to the Commission as income for that year was $6,960.64, but the company did not in its tax return include this figure in gross income or deduct it from the amount of interest paid on its bonds.
		The provisions of the Revenue Acts of 1918, 1921, 1924, and 1926 are the same as respects gross income of corporations and deductions therefrom.
	supreme.justia.com /us/284/552/case.html (2420 words)

	TAXABLE INCOME (Site not responding. Last check: 2007-11-01)
		Although it is obvious to whom this section applied in 1921, some may question whether this is at all relevant to current law.
		This Treasury Decision, passed in late 1996, confirms that Section 217 of the Revenue Act of 1921 is the predecessor of the current Part I of Subchapter N, and shows that the IRS still refers to the 1921 Code to determine the proper application of the current Code.
		The Paperwork Reduction Act of 1980 requires that every form used by the federal government to collect information from the public first be approved by the Office of Management and Budget ("OMB").
	www.wealth4freedom.com /truth/incometax/pagefour.htm (2950 words)

	PGDC Article - Estate Tax Repeal: Historical Data Indicate Philanthropy May Suffer (Site not responding. Last check: 2007-11-01)
		A few years later, in the Revenue Act of 1921, the apparent oversight was corrected, and an unrestricted charitable bequest deduction became a permanent feature of the estate tax law.
		Of particular interest was the impact on charitable bequests in 1921 and later years when presumably wealthy individuals first became aware of the estate tax advantage of charitable bequests.
		For persons dying in 1921, when the charitable bequest deduction was initially enacted, 11,671 returns were filed with combined gross estates of $2.2 billion.
	www.pgdc.com /usa/item?itemID=75245 (2149 words)

	Master Letter (Site not responding. Last check: 2007-11-01)
		This Act was different from the 1916 Act in that it imposed a tax which was merely in lieu of the tax imposed by the 1916 Act.
		The Revenue Act of 1921 was adopted by Congress on November 23, 1921.
		Further, the act established a certain method whereby agencies were to publish in the Federal Register proposed and final agency rules and were to accord public comments and hearings in reference to the promulgation of regulations.
	www.imfdecoder.com /taxanalysis (9672 words)

	NATIONAL LIFE INS. CO. v. UNITED STATES, 277 U.S. 508 (1928) -- US Supreme Court Cases from Justia & Oyez
		The gross income to be considered under the Act of 1921 is limited to that received 'from interest, dividends, and rents.' In order to ascertain the taxable income, this gross investment income is to be reduced by nine classes of deductions, so far as severally applicable.
		The objection made and sustained by the court, is that the act is void because thereby Congress taxes the bonds, an instrumentality of the states, or that it discriminates against the holder.
		Under all these acts the companies were allowed to deduct the amount paid on policies (except as dividends) and the amount required by law to be added to their reserves.
	supreme.justia.com /us/277/508/case.html (5820 words)

	Revenue Act of 1921
		The Revenue Act of 1921 highlighted an enduring problem — attempting to balance the responsible position of discharging the nation’s obligations with the ever-popular demand for lowering taxes.
		More books on Revenue Act of 1921 can be found at Barnes & Noble.
		Memorabilia related to Revenue Act of 1921 is at auction on eBay.
	www.u-s-history.com /pages/h1367.html (244 words)

	USCA1 Opinion 01-2251
		Congress enacted this section of the 1921 Act to eliminate the competitive disadvantage that U.S. corporations were suffering as a result of double taxation of income earned outside the U.S. and to encourage U.S. business investments in U.S. possessions.
		Section 931 used the same language as the 1921 Act's section 262, requiring, among other things, that 50% or more of the corporation's gross income be "derived from the active conduct of a trade or business." § 931(a)(2), 68A Stat.
		The taxpayer relies on cases arising under other provisions of the Internal Revenue Code, which hold that a taxpayer need not manufacture its own product but may be a manufacturer by use of a contract manufacturer.
	www.ca1.uscourts.gov /cgi-bin/getopn.pl?OPINION=01-2251.01A (8425 words)

	Find in a Library: Revenue act of 1921, complete text, reference notes, tables and index.
		Find in a Library: Revenue act of 1921, complete text, reference notes, tables and index.
		Revenue act of 1921, complete text, reference notes, tables and index.
		WorldCat is provided by OCLC Online Computer Library Center, Inc. on behalf of its member libraries.
	www.worldcatlibraries.org /wcpa/ow/7fe99f2fe5fc2a75.html (100 words)

	[No title] (Site not responding. Last check: 2007-11-01)
		Revenue Act of 1913 \par \pard \s6 \li1440\fi-360 {\\bkmkstart 506.I.B.4.b da}{\\bkmkend 506.I.B.4.b da}b.
		Revenue Act of 1916 \par \pard \s6 \li1440\fi-360 {\\bkmkstart 506.I.B.4.c da}{\\bkmkend 506.I.B.4.c da}c.
		Revenue Act of 1921 \par \pard \s6 \li1440\fi-360 {\\bkmkstart 506.I.B.4.e da}{\\bkmkend 506.I.B.4.e da}e.
	www.bna.com /tm/docs/506_2_TOC.doc (7530 words)

	Brief History and Background of Section 1031 of the Internal Revenue Code \| Chronological History of Section 1031 ... (Site not responding. Last check: 2007-11-01)
		The first income tax code was adopted in 1918 as part of The Revenue Act of 1918, and did not provide for any type of tax deferred exchange.
		The Section number applicable to the tax-deferred exchange was changed to Section 112(b)(1) with the passage of The Revenue Act of 1928.
		The Tax Reform Act of 1986 eliminated preferential capital gain treatment so that all capital gains were taxed as ordinary income, enacted passive loss and at risk rules, accelerated depreciation methods were eliminated and replaced with straight line depreciation consisting of 39 years for commercial property and 27.5 years for residential property.
	www.diversifiedexchange.com /brief_history_irc_section_1031.asp (695 words)

	TaxableIncome.Net: Silence Treatment, Transcript Pg 3 (Site not responding. Last check: 2007-11-01)
		Section 217 of the Revenue Act of 1921, the statutory predecessor of 26 USC § 861 and following, obviously only showed domestic income to be taxable when derived from certain activities.
		Section 217 of the Revenue Act of 1921 makes it really obvious that it is only about foreigners, and citizens who get most of their income from within federal possessions, so that there are cases where U.S. citizens can have domestic taxable income.
		After 1939 the statute changed wording, but the regulations still made it clear that it was about nonresident aliens, foreign corporations, and citizens and domestic corporations entitled to the benefits of section 251, which means they got most of their income from within federal possessions.
	www.taxableincome.net /extortion/thugs/transcript3.html (3316 words)

	[No title]
		In large part, this 'theory' is adopted due to its advocate's failure to recognize that the "income" tax is an excise tax.
		Happily, most who have acted on this misunderstanding (and who have filed returns) are not likely to have compromised their legal status (except to the degree that erroneous information returns concerning their receipts have been allowed to stand unrebutted, or have been rebutted improperly-- a hazardous, but generally salvageable, situation).
		The revenue Act of 1913, to which the 1921 act is more directly supplemental, put is this way:
	www.losthorizons.com /tax/Misunderstandings/861.htm (4205 words)

	Law Books Ddecember 2005 Tax Law Books
		Revenue Bill of 1921: Report from the Committee on Ways and Means, Report No. 350, 67th Congress (34 pp.);
		Comparison of Titles and Sections of the Revenue Acts of 1924 and 1926.
		Preliminary Report of a Subcommittee Of The Committee on Ways and Means Relative to Methods of Preventing the Avoidance and Evasion of the Internal Revenue Laws together with Suggestions for the Simplification and Improvement thereof.
	www.lawbookexchange.com /dec05/law-books-dec05-14.html (1232 words)

	TaxActs
		United States, 232 U.S. 261 (1914)("the differences between things domestic and things foreign, and their use, are apparent on the face of things, and are expressly manifested by the text of the Constitution").
		The regulations quotes the act in the first part, and the regulation itself implements the tax.
		Regs 33 for 1913 and 1916 acts, Regs 33 (Rev.) for 1917 act, Regs 45, Regs 45 (Rev.), Regs 62, Regs 65, Regs 69, Regs 74, Regs 77, Regs 86, Regs 94, Regs 101, Regs 103, Regs 111, and Regs 118.
	home.hiwaay.net /~becraft/TaxActs.html (588 words)

	Michael J. Graetz and Michael M. O'Hear, The "Original Intent" Of U.S. International Taxation, 46 Duke L. J. 1021 (1997) (Site not responding. Last check: 2007-11-01)
		Though the Revenue Act of 1921 retained this basic structure, Adams returned to Capitol Hill once again as spokesman for the Treasury Department to urge a number of significant refinements to the mechanism.
		The fundamental purpose of the 1921 foreign tax credit limitation was to protect the ability of the U.S. to collect tax on U.S. source income, but the limitation on the foreign tax credit also has had a number of effects on the investment decisions of U.S. residents.
		Indeed, the 1921 Act was Adams' last as chief spokesperson for the Treasury Department and with passage of the 1921 Act, Adams' work on international taxation shifted from domestic legislation to international agreements.
	www.law.duke.edu /journals/dlj/articles/dlj46p1021.htm (16556 words)

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