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Topic: Revenue Act of 1924


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In the News (Tue 21 Oct 14)

  
 [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.)   (Site not responding. Last check: 2007-10-10)
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)

  
 Revenue Act of 1924 - Wikipedia, the free encyclopedia
The United States Revenue Act of 1924 also known as the Mellon tax bill cut federal tax rates and established the U.S. Board of Tax Appeals, which was later renamed the Tax Court of the United States in 1942.
A parallel act, the Indian Citizenship Act of 1924 (43 U.S. Stats.
[1] Thus the Revenue Act declared that there were no longer any "Indians, not taxed" to be not counted for purposes of apportionment.
en.wikipedia.org /wiki/Revenue_Act_of_1924   (268 words)

  
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Sections 21 to 27 of the Act amended title II of the Revenue Act of 1921, which was repealed by section 1100 of the Revenue Act of 1924 (43 Stat.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)

  
 Revenue Revision Studies, 1937: Excise Taxes (cont.)   (Site not responding. Last check: 2007-10-10)
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.tax.org /thp/Civilization/Documents/Surveys/hst23734/23734-6.htm   (4864 words)

  
 State of the Union Address - Calvin Coolidge (December 8, 1925)
Acting upon it, an adjustment was made of the difficult problem of reparations.
The act of March 3, 1911, ought to be amended so that the term of years of service of judges of any court of the United States requisite for retirement with pay shall be computed to include not only continuous but aggregate service.
The administration of the act is in the hands of an impartial board, functioning without the necessity of a direct appropriation.
www.factmonster.com /t/hist/state-of-the-union/137.html   (9591 words)

  
 Law Firm of Pepper Hamilton LLP | Publications
In Sections 219(g) and 219(h), the 1924 Act taxed to the grantor the income of revocable trusts and trusts whose income was payable to the grantor, could be held for the grantor, or could be applied to pay premiums for life insurance on the grantor's life.
This case arose under Sections161 and 162 of the Revenue Acts of 1934 and 1936, which taxed to the trust any undistributed income, and taxed to the beneficiary any income required to be distributed currently.
The congressional attack on the use of trusts to avoid the stiff graduated tax rates, as attempted in section 219 of the 1924 Act and sections 166 and 167 of the 1928 Act, was continued and expanded in Subpart E under the 1954 Code.
www.pepperlaw.com /pepper/publications_article.cfm?rid=452.0   (7183 words)

  
 The Constitution of the United States of America
Provision of a Chinese exclusion act, that Chinese persons ``convicted and adjudged to be not lawfully entitled to be or remain in the United States shall be imprisoned at hard labor for a period not exceeding 1 year and thereafter removed from the United States.
Provision in the Immigration Act of 1907 penalizing ``whoever.
Provision of Revenue Act of 1921 abating the deduction (4 percent of mean reserves) allowed from taxable income of life insurance companies in general by the amount of interest on their tax-exempts, and so according no relative advantage to the owners of the tax-exempt securities, held to destroy a guaranteed exemption.
www.gpoaccess.gov /constitution/html/acts.html   (7331 words)

  
 USA-Presidents.Info - Calvin Coolidge Third State of the Union Address
Determination of a revenue law definitely, promptly and solely as a revenue law, is one of the greatest gifts a legislature can bestow upon its constituents.
A sound selective service act giving broad authority for the mobilization in time of peril of all the resources of the country, both persons and materials, is needed to perfect our defense policy in accordance with our ideals of equality.
The act of March 3, 1911, ought to be amended so that the term of years of service of judges of any court of the United States requisite for retirement with pay shall 6e computed to include not only continuous but aggregate service.
www.usa-presidents.info /union/coolidge-3.html   (9648 words)

  
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On the contrary, the limitation was made applicable solely to the religious, charitable, and educational organizations exempt from tax under Section 101(6) of the Revenue Act of 1934 and eligible to receive tax-deductible contributions under Section 23(o)(2).
At the time of these enactments, the revenue laws contained no expres limitations on lobbying by exempt organizations, and as we have pointed out (page 15, supra), no such limitations were imposed until the Revenue Act of 1934.
As reflected in the debate, the focus of the 1934 Act was on the provision (Section 23(o)(2)) that governed the deductibility for income tax purposes of contributions to organizations classified as charitable that engaged in influencing legislation.
www.usdoj.gov /osg/briefs/1982/sg820087.txt   (12482 words)

  
 TaxRegsIndex - served by WhatisTaxed.servehttp.com   (Site not responding. Last check: 2007-10-10)
First, the TDIR series contained amended Regulations 33 for the 1917 act, Regulations 45 for the 1918 act, Regulations 45 as amended in 1920, Regulations 62 for the 1921 act, Regulations 65 for the 1924 act, and Regulations 69 for the 1926 act.
This set of books reprinted all the various tax acts adopted during the period 1909 through 1950, and the set is very handy for the tax practitioner.
Regulations 33 (1917 act), Regulations 45, Regulations 45 as amended in 1920, Regulations 62, Regulations 65, and Regulations 69 did not have either a table of contents or index.
whatistaxed.servehttp.com /OldRegs/TaxRegsIndex.html   (1956 words)

  
 7213 Judical Process
This is a proceeding brought in the Supreme Court of the District of Columbia under §1025(a) of the Revenue Act of 1924 (c.
The appeal was authorized it at all by §900(e) of the Revenue Act of 1924 (c.
The testimony of the attorneys for the government revealed that the United States Attorney's office was acting merely as a conduit for the filing of the pleadings from the Department of Justice and did not participate in any way in the decision to attach certified copies of the tax returns to the memorandum of law.
www.irstaxattorney.com /irs_misconduct/7213_Judical_Process.html   (8263 words)

  
 Florida Coastal Law Journal
Before the Taxpayer Relief Act of 1997 (hereinafter "1997 Act"), the importance of transferring the assets that are unwanted by the [acquiring parent] P into a subsidiary corporation, as opposed to the assets P wishes to acquire, could not be overstated.
Under a strictly literal reading of the Revenue Act of 1928, a taxpayer could place liquid assets of an existing corporation into a newly formed corporation, then liquidate the stock of the new corporation, converting what would normally be an ordinary income dividend into a capital gain.
In Revenue Ruling 70-434, the Service allowed a Type B reorganization after the spin-off by D of unwanted assets to C. There is no principled reason for recharacterizing this final step only with respect to spin-offs of wanted assets as opposed to spin-offs of unwanted assets.
www.fcsl.edu /academics/journal/volumeone/burton.htm   (8802 words)

  
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The act of May 28, 1926 (19 U.S.C. 405a), created the United States Customs Court to supersede the Board; by acts of August 7, 1939, and June 25, 1948 (28 U.S.C. 1582, 1583), the court was integrated into t he United States court structure, organization, and procedure.
The act of July 14, 1956 (28 U.S.C. 251), established the court as a court of record of the United States under Article III of the Constitution.
The act provides for surveys to be conducted by the Administrative Office of the conditions in the judicial districts in order to make recommendations as to the number, location, and salaries of magistrate judges, which are determined by the Conference subject to the availability of appropriated funds.
www.eff.org /Activism/Exec_Jud_branches/judicial.txt   (4365 words)

  
 CENTRAL BOARDS OF REVENUE ACT 1963   (Site not responding. Last check: 2007-10-10)
THE CENTRAL BOARDS OF REVENUE ACT, 1963 ACT NO. 54 OF 1963 [30th December, 1963.] An Act to provide for the constitution of separate Boards of Revenue for Direct Taxes and for Excise and Customs and to amend certain enactments for the purpose of conferring powers and imposing duties on the said Boards.
(1) This Act may be called the Central Boards of Revenue Act, 1963.
(1) The Central Board of Revenue Act, 1924, (4 of 1924) is hereby repealed.
www.austlii.edu.au /~andrew/CommonLII/IN-num_act/cbora1963242   (438 words)

  
 BANGLAPEDIA: National Board of Revenue   (Site not responding. Last check: 2007-10-10)
It lies at the apex of the whole revenue organisation of the government and is responsible for the administration of almost all the direct and indirect taxes.
Estimates for the period between 1990-2000 showed that on average, the NBR is responsible for collection of about 93% of total tax revenue and about 81% of the total revenue of the government in a year.
NBR was constituted in 1972 under the National Board of Revenue Order 1972, which repealed and replaced the Central Board of Revenue Act 1924.
banglapedia.org /HT/N_0085.HTM   (386 words)

  
 Bob Jones University v. United States
In enacting the Revenue Act of 1938, ch.
The Revenue Act of 1918 added an exemption for corporations or associations organized "for the prevention of cruelty to children or animals." Ch.
The exemption remained unchanged in the Revenue Acts of 1924, 1926, 1928, and 1932.
usa.usembassy.de /etexts/crights/scdec/bobjones.htm   (13234 words)

  
 AICPA Tax
The original version of section 6212(a), included in the Revenue Act of 1924, said taxpayers "shall be notified" of a deficiency by registered mail, which some courts construed as proscribing any other form of notice.
The Revenue Act of 1926 changed the language to its present form, authorizing the IRS to use registered mail (certified mail was added in 1958).
According to revenue procedure 90-18, a return ordinarily is considered properly processed after a 45-day period that begins after the date the return is received.
www.aicpa.org /pubs/jofa/march97/return.htm   (2602 words)

  
 Brief History and Background of Section 1031 of the Internal Revenue Code | Chronological History of Section 1031 ...   (Site not responding. Last check: 2007-10-10)
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)

  
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Sections 284(d), 1001-1003 of the Revenue Act of 1926, ch.
To the contrary, Section 6511 of the Internal Revenue Code states simply that the limitations period on filing a claim for refund runs "3 years from the time the return was filed or 2 years from the time the tax was paid," whichever period expires later.
The record here plainly shows that since he examined the payments by Clarence Schrier to respondent, the Commissioner of Internal Revenue has steadfastly maintained that the payments were income to respondent for her services as administratrix of the estate of Harold Schrier.
www.usdoj.gov /osg/briefs/1989/sg890334.txt   (2711 words)

  
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In the course of enacting the Revenue Act of 1978, the House adopted a provision expressly indexing the basis of such assets.
The Revenue Act of 1918 was actually enacted into law early in 1919.
Subsequent revenue acts, see infra note 16, adopted the formulation in effect today: in general, the basis of property is "the cost of such property." In 1939, Congress began the practice of codifying the tax laws.
biotech.law.lsu.edu /blaw/olc/archibal.23.htm   (10641 words)

  
 Index Card
The Immigration Act of 1924 created a permanent quota system (that of 1921 was only temporary), reducing the 1921 annual quota from 358,000 to 164,000.
In addition, the Act reduced the immigration limit from 3 percent to 2 percent of each foreign-born group living in the United States in 1890.
These cuts were enacted with passage of the Tax Revenue Act of 1924, and the Revenue Act of 1926 pushed by the new president, Calvin Coolidge, in which estate and gift taxes were slashed, as were the income tax rates on the wealthy.
www.uri.edu /artsci/ecn/mead/INT1/lectures/202/202_day10Class.htm   (2152 words)

  
 Tax Court: West's Encyclopedia of American Law
All state governments and the federal government provide a means of adjudicating cases dealing with taxation.
Tax courts deal solely with tax disputes, which may involve the valuation of real property, the amount of tax the state or federal revenue agency seeks to collect, or the tax status of a PENSION plan or a charitable organization.
The U.S. Tax Court is organized under Article I of the U.S. Constitution (26 U.S.C.A. Currently an independent judicial body in the legislative branch, the court was originally created as the U.S. Board of Tax Appeals, an independent agency in the EXECUTIVE BRANCH, by the Revenue Act of 1924 (43 Stat.
law.enotes.com /wests-law-encyclopedia/tax-court   (156 words)

  
 OSCN Found Document:DAUBE v. OKLAHOMA TAX COMMN.   (Site not responding. Last check: 2007-10-10)
¶5 The principal objections to the act as voiced by the plaintiff are that the attempt therein to levy a graduated gift tax violates that portion of section 5, art.
¶26 The argument is, first, that the act fails as to due process in that the tax is made a lien on all property of the donee in event the donor fails to pay, and neglects to provide for notice to the donee before levy of the tax.
That portion of the act is not shown to result in likely injury to him.
www.oscn.net /applications/oscn/deliverdocument.asp?citeid=6912   (1846 words)

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