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Topic: Revenue Act of 1926

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	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)

	Introduction - Joint Commmittee History & Background
		Revenue Act of 1926, House Report 1, 69th Cong., 1st Sess.
		Revenue Act of 1926, Senate Report 52, 69th Cong., 1st Sess.
		Revenue Act of 1926, House Report 356 (Conference Report), 69th Cong., 1st Sess.(1926); Revenue Act of 1926, Public--No. 20--69th Congress (44 Stat.
	www.house.gov /jct/intrhist.htm (690 words)

	Revenue Program to Increase Revenue and Encourage More Equitable Burden Distribution (cont.)
		Enacted by Revenue Act of 1932 or subsequent acts and is without expiration date.
		604 of the Revenue made of fur on the Act of 1932, as amended hide or pelt, and articles of which such fur is the component material of chief value a.
		500(a)(4) of the price for which similar Revenue Act of 1926 seat or box is sold for each performance or exhibition at which the box or seat is used or reserved for the lessee or holder e.
	www.taxhistory.org /Civilization/Documents/Fiscal/hst29039/29039-4.htm (1740 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.tax.org /thp/Civilization/Documents/Surveys/hst23734/23734-6.htm (4864 words)

	Employee Benefit Research Institute - EBRI
		The act changed the taxation of trust distributions that are attributable to employer contributions and earnings.
		The act provided that part of a lump-sum distribution received from a qualified employee trust within one taxable year (on account of death or other separation from service) was given ordinary income treatment instead of the capital gains treatment it had been given under prior law.
		Under this act, the bargain element on the exercise of statutory options is a tax preference item, unless the stock option is disposed of in the same year the option is exercised.
	www.ebri.org /publications/facts/index.cfm?fa=0398afact (2256 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)

	The Railway Labor Act
		Act June 7, 1934, substituted "United States Court of Appeals for the District of Columbia" for "Court of Appeals of the District of Columbia".
		Act Oct. 28, 1949, substituted "Classification Act of 194911 for "Classification Act of 1923".
		Section 8 of act June 21, 1934, provided that: "If any section, subsection, sentence, clause, or phrase of this Act [amending sections 151 to 158, 160, and 162 of this title] is for any reason held to be unconstitutional, such decision shall not affect the validity of the remaining portions of this Act.
	www.nmb.gov /documents/rla.html (8955 words)

	Revenue Act of 1926
		XAnd whereas by an act of parliament made in the fourteenth year of the reign of King Charles the Second, intituled, An act for preventing frauds, and regulating abuses, in his Majesty's customs, and several other acts now in force, it is lawful...
		This act forbade the importation of foreign rum; put a modest duty on molasses from all sources and levied duties on wines, silks, coffee and a number of other luxury items.
		Constitution of the State of Florida, Section 18 of the Declaration of Rights of said Constitution, be and the same is hereby agreed to and the same shall be submitted to the qualified electors of the State of Florida for ratification or...
	www.u-s-history.com /pages/h1444.html (310 words)

	What Is An Income Tax Return (Site not responding. Last check: 2007-10-09)
		This revenue act was codified under Title 26, The Internal Revenue Code of 1939 and 1954 and sections of this act still remain codified under various sections of the Code.
		Act June 18, 1934, provided that credit or refund of income or war profits erroneously collected might be allowed if claim was filed on or before Feb. 15, 1933.
		Upon a final computation of internal revenue taxes properly payable, the amount thereof remaining unpaid shall be paid by the Attorney General to the district director as soon as practicable after the final computation has been made, or, in case the property has been returned to the former owner, by such owner.
	www.worldnewsstand.net /tax/tax-return.htm (7944 words)

	op5b
		U.S. Congress enacts the Revenue Act of 1861 to pay for what is anticipated to be a short civil war.
		The Conference Committee Report on the Tax Reform Act of 1976 indicates an anticipated revenue gain of $ 44 million in 1977 and $ 38 million annually thereafter as a result of the amendments of section 911.
		No tax credit will be given for taxes paid abroad on excluded income, and there will be no exclusion for income received outside of the foreign country in which earned if one of the purposes is to avoid local income tax abroad.
	www.aca.ch /op5b.htm (3865 words)

	Law Books Taxation Law Books
		The various taxing acts are summarized and, after the reign of William III, are divided into the categories of customs, excise and inland duties.
		The work collects the texts of the committee reports and discussions on the floor of Congress relating to all of the income tax provisions of the Revenue Acts from 1861 to 1938 that are of interpretive significance.
		To Accompany H.R. 12395 (27 pp.); The Revenue Act of 1935.
	www.lawbookexchange.com /taxation.html (5767 words)

	U.S. Senator Russ Feingold on the Hardrock Depletion Act (Site not responding. Last check: 2007-10-09)
		The Revenue Act of 1926 established percentage depletion much in its present form for oil and gas.
		The percentage depletion allowance was then extended to metal mines, coal, and other hardrock minerals by the Revenue Act of 1932, and has been adjusted several times since.
		One fourth of the revenue raised by the bill, or approximately $120 million dollars, would be deposited into an interest bearing fund in the Treasury to be used to clean up abandoned hardrock mines in states that are subject to the 1872 Mining Law.
	feingold.senate.gov /statements/03/01/2003010707.html (949 words)

	TaxRegsIndex - served by WhatisTaxed.servehttp.com (Site not responding. Last check: 2007-10-09)
		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)

	Tax Revision Studies, 1937: Volume V (cont.)
		The main purpose of the crediting provision of the Federal Revenue Act of 1926 was to equalize the tax burden of the death duties between the various States.
		Partly as a result of variations in tax burdens but primarily because of interstate variations in taxable wealth, the significance of death taxes in the revenue structures of the various States is in no sense uniform.
		The proposals for the modification of the present crediting provision have been generally prompted by the conviction that the amount of revenue currently derived by States from death taxes is insufficient.
	www.tax.org /THP/Civilization/Documents/Surveys/hst23733/23733-5.htm (4217 words)

	[No title]
		All claims for refund of the tax imposed by this title alleged to have been erroneously or illegally assessed or collected must be presented to the Commissioner within three years next after the payment of such tax.
		Section 319(b) of the Revenue Act of 1926 is amended to read as follows….(b) All claims for refunding of the tax imposed by this title alleged to have been erroneously or illegally assessed or collected must be presented to the Commissioner within three years next after the payment of such tax.
		The amount of the refund shall not exceed the portion of the tax paid during the three years immediately preceding the filing of the claim, or if no claim was filed, then during the three years immediately preceding the allowance of the refund.
	www.losthorizons.com /tax/disallowanceresponse.htm (855 words)

	Social Security Act of 1935
		The Board shall perform the duties imposed upon it by this Act and shall also have the duty of studying and making recommendations as to the most effective methods of providing economic security through social insurance, and as to legislation and matters of administrative policy concerning old-age pensions, unemployment compensation, accident compensation, and related subjects.
		All provisions of law (including penalties) applicable in respect of the taxes imposed by section 600 of the Revenue Act of 1926, shall, insofar as not inconsistent with this title, be applicable in respect of the tax imposed by this title.
		If any provision of this Act, or the application thereof to any person or circumstance is held invalid, the remainder of the Act, and the application of such provision to other persons or circumstances shall not be affected thereby.
	www.nationalcenter.org /SocialSecurityAct.html (4442 words)

	The Effects of the Great DEpression in Northeast Arkansas --- The White River Water Carnival
		The Revenue Act of 1926, passed by Congress and President Calvin Coolidge’s administration, reduced federal income taxes along with taxes on inheritances.
		This act essentially became the catalyst for the further widening of the gap between the wealthy and the middle-class.
		With the unevenly distributed revenue plaguing the country, the economy became unstable as the total mass of supply exceeded the amount of demand.
	asms.k12.ar.us /armem/99-00/RamseyM/depress.htm (1666 words)

	PO-1046: Assistant Secretary Weinberger - Testimony on Retirement Security
		In the Revenue Act of 1921, Congress provided that contributions by an employer to a stock bonus or profit sharing plan are deductible by the employer and not taxable until the amounts contributed are distributed or made available to the employee.
		The Internal Revenue Service makes determinations as to the qualified status of the form of a plan and audits whether plans operate in accordance with their terms.
		The Retirement Security Advice Act would also add important protections by requiring information about fees, relationships that may raise potential conflicts of interest, and limitations on the scope of advice to be provided.
	www.ustreas.gov /press/releases/po1046.htm (4114 words)

	revrul65-57
		The proceeds of such a policy paid by reason of death of the insured are not excludable from gross income under section 101(a) of the Internal Revenue Code of 1954.
		The concept is equally applicable to the term `insurance' found in section 101(a) of the Code in reference to the income tax, as the term is employed in that section not in any specialized sense but with its normal meaning.
		Commissioner, 33 T.C. 557 (1959), acquiescence, C.B. 1960-2, 7, and Revenue Ruling 55-313, C.B. 1955-1, 219, in both of which the Le Gierse decision was cited in connection with section 22(b)(1) of the Internal Revenue Code of 1939, the counterpart of section 101(a) of the 1954 Code.
	www.taxlinks.com /rulings/1965/revrul65-57.htm (1308 words)

	[No title]
		Revenue Act of 1926 reduces taxes: Too much money being collected.
		Clinton's Revenue Reconciliation Act passes by one Vice Presidential vote.
		The Jobs and Growth Tax Relief Reconciliation Act of 2003 accelerates 2001 Act's rate cuts; temporarily increases child credit; temporarily lowers rates on capital gains and dividends; increases write-offs for equipment.
	www.cch.com /tax2003/taxdatesinhistory2003.asp?fr=print (208 words)

	Revenue Act of 1926 - Wikipedia, the free encyclopedia
		President Coolidge signs the act in a small ceremony.
		The United States Revenue Act of 1926, 44 Stat.
		Internal Revenue: 1861 • 1862 • 1864 • 1913 • 1916 • 1917 • 1918 • 1921 • 1924 •
	en.wikipedia.org /wiki/Revenue_Act_of_1926 (126 words)

	[No title]
		Thus, section 3173-- which has been re-enacted repeatedly in every major revenue act, and remains the law today-- ensures harmony between the federal taxing power and the rest of the Constitution, just as did its precursor, section 93 of the Revenue Act of 1862, which expressed the same principles even more clearly:
		And to this end he may there exercise all the authority which he might lawfully exercise in the district for which he was commissioned.
		Otherwise, such Americans are legally invisible to the government insofar as the tax structure is concerned, meaning that the apparent paradox cannot arise in the first place.
	www.losthorizons.com /respondingtotheassault.htm (1571 words)

	TIME.com: The Bill Is Signed -- Mar. 8, 1926 -- Page 1
		Instead there came into existence the "Revenue Act of 1926", for the tax reduction bill in the form in which it had been issued by the Joint Conference Committee (TIME, March 1) was transformed into a law without alterations.
		So it was done and Senator Smoot and Representative Green carried off the two pens used by the President in signing, and the Treasury set about estimating the amount of income it could expect in the next few years.
		In spite of the large reduction in taxes the Treasury hopes for a surplus of $67,000,000 for the fiscal year (1926) ending next June and for a surplus of $11,000,000 at the end of the following fiscal year in June 1927.
	www.time.com /time/magazine/article/0,9171,721703,00.html (711 words)

	[No title]
		The House-passed version of the Revenue Act of 1942 would have repealed section 116(a)(1) in its entirety, but the Senate Finance Committee urged that repeal would work hardship on Americans working abroad and successfully argued in favor of retaining the exclusion. Again, in 1951, the House attempted to repeal the exclusion.
		The major changes introduced by the 1981 Act were: (1) the upper limit on excludible foreign earned income was increased to $75,000 for 1982, with further $5,000 annual increases until it reached $95,000 in 1986; (2) the foreign presence requirement was shortened to 12 months; and (3) the exclusion for foreign housing costs was introduced.
		Worse, the changes have been backdated to the start of this year. Another article in the Wall Street Journal noted that a number of corporations were considering reductions in the numbers of American employees working overseas because of the impact of the new tax rules. There has also been a legislative response to the amendments.
	www.bna.com /tm/tmm0806_klasing.rtf (2301 words)

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