Page:United States Statutes at Large Volume 45 Part 2.djvu/1518

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3172 Income Tax, Title I, Revenue Act of 1928- Continued. credits allowed; foreign corporations having more than fifty per cent from United States sources____ _ from China Trade corporations excepted ____________________ _ interest on Federal securities ______ _ personal exemption of $1,500 for a single person ________________ _ $3,500 for head of a family, hus- band and wife living together__ _ additional $400 each for minors staTarmstroBot (talk) d;r;;:!02:37, 7 January 2012 (UTC)-f~~ -~;~dit -~f dependent___________________ _ computation on change of taxable year________________________ _ allowance for death in taxable year_ credits allowed corporations; interest on Federal securities__________ _ domestic corporations; specific of $3,000, if net income less than $25,000_____________________ _ limitation, if exceeding $25,000 __ _ credits against tax__________________ _ "earned income" means wages, etc., for personal services; allowed if combined with capital for busi- ne~________________________ _ "earned income deductions" means ~educti<?ns allowed for comput- 109 net mcomes______________ _ "earned net income" means exce~ over deductioIL ______________ _ allowance of, for amount of earned income ______________________ _ extent of, for taxes of foreign coun- tries, etc____________________ _ taxes withheld at source __________ _ erroneous payments ______________ _ for fiscal year beginning in 1927 and ending in 1928_______________ _ accounting period and methods ______ _ net income computed on basis of annual accounting period____________ _ on calendar year, if no accounting period ______________________ _ deductions and credits for taxable year in which paid or accrued, or paid orincurred __________________ _ dealers in personal property on install- ments, on payments annually received _____________________ _ returns from casual sales of personalty or of :realt:y __________________ _ computation of mcome on change to installment basis_____________ _ recognition of gain or loss ou dis- posal of installment obligations_ basis of computing _____________ _ allocation of income and deductions, if same interests control one or more businesses ______________ _ on change of accounting period, net income based on new period ___ _ returns for short period when account- ing period changed ___________ _ income computed on period of separate returns___________ - - - - computation of taxable income ___ _ application of capital gain or loss, on earned income ____________ _ reduction of personal credits for fractions of a year____________ _ INDEX. Page. 802 803 803 803 803 803 803 803 803 803 803 803 804 804 804 804 804 804 804 804 804 805 805 805 805 8Q5 805 805 806 806 806 806 806 806 806 807 807 Income Tax, Title I, Revenue Act of 1928-- Continued. definition of "taxable year;" first taxable year 1928 ____________ _ "paid or incurred," and "paid or accrued" ___________________ _ returns and payment of tax _________ _ individuals to make sworn return of gross income, deductions, and credits______________________ _ if income $1,500 or over, if single ___ _ $3 500 or over, if married and living with husband or wife ___ _ gro~ income of $5,000 or over_____ _ husband and wife living together with income of $3,500 or over; separate or joinL ____________ _ by agent, etc., of persons under dis- ability______________________ _ by fiduciaries ______________ " _____ _ corporation returns, specific require-- ments; by recelvers, trustees, etc_________________________ _ collection of tax________________ _ consolidated returns of affiliated ___ _ filing of returns; time for ___________ _ extensions_____________________ _ by individu&s to collector of dis- trict; Baltimore ______________ _ by corporations, in district where office located; Baltimore ______ _ records to be kept by taxpayers _____ _ special statements to determine tax __ information at source ______ .. __ _ _ _ open inspection of returns, as in Reve- nue Act of 1926 ________ . _____ _ payment of tax on designated date ___ _ installments allowed ______________ _ whole amount on failure to pay __ _ extension of time on request _________ _ payment on expiration __________ _ pnor to prescribed date allowed ____ _ jeopardy payments _______________ _ tax withheld at source ____________ _ fractions of a cent disregarded _____ _ receipts on requesL ______________ _ eVldence of tax paid ____________ _ surrender to creditor as payment ondebt_____________________ _ returns to be examined and tax to be determined- as soon as practi- cable _______________________ _ addition to tax, see Supplement M ___ _ criminal penalties, see in Section 146 ________________________ _ administrative proceedings; deficiency assessment, Supplement L ____ _ interest on, addition to tax, Supple- ment M ____________________ _ claims against transferees and fidu- ciaries, Supplement N ________ _ overpayment, Supplement 0 ________ _ all revenue laws made applicable _____ _ regulations to be prescribed and pub- lished ______________________ _ table of taxes in lieu of taxes under 1926 Act ____________________ _ short title "Income Tax of 1928" ____ _ effective on enactment; exceptions ___ _ tax in case of capital net gain _______ _ capital net loss ____ • ____ ____ ___ __ _ m~~nin~ of terl}}s; "capital gain"____ _ capltalloss ___________________ _ "capital deductions" _____________ _ "capital net gain" _______________ _ ~07 807 807 807 807 807 807 808 808 808 808 808 808 808 808 808 808 808 808 809 809 809 809 809 809 809 809 809 809 809 809 810 810 810 810 810 810 810 810 810 810 810 81C 811 811 811 811 811 811 811 811