Internal Revenue BulletinDepartment of the Treasury, Internal Revenue Service, 1954 |
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adjusted basis Advice is requested Alcohol Administration Act amended as follows amended by striking amended by Treasury amended to read amortization amount application Article Assistant Regional Commissioner Bonds bottling Commissioner of Internal contracting convention coverage Cumulative Bulletin decedent December 31 denatured alcohol disbarred distilled spirits employee exemption Federal Alcohol Administration filed foreign Form Foundation grain storage facility gross income individual inserting in lieu interest Internal Revenue Bulletin Internal Revenue Code Internal Revenue Service lieu thereof ment October 21 Office old-age and survivors operation paid paragraph payment period person power of appointment provisions of section pursuant read as follows refund REGULATIONS 118 relating respect Revenue Ruling rulings and decisions section 23 sentence services performed Subchapter tank tank truck Tax Court tax imposed taxable taxpayer thereof the following tion Treasury Decision Treasury Department trust Washington 25 wine withholding
Popular passages
Page 9 - ... employed in keeping the books of such taxpayer ; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income, the computation shall be made in accordance with such method as in the opinion of the Commissioner does clearly reflect the income.
Page 9 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer ; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income...
Page 27 - Generally such relationship exists when the person for whom services are performed has the right to control and direct the individual who performs the services, not only as to the result to be accomplished by the work but also as to the details and means by which that result is accomplished. That is, an employee is subject to the will and control of the employer not only as to what shall be done but how it shall be done.
Page 15 - ... general power of appointment created after October 21, 1942, or with respect to which the decedent has at any time exercised or released such a power of appointment by a disposition which is of such nature that if it were a transfer of property owned by the decedent, such property would be includible in the decedent's gross estate under sections 2035 to 2038, inclusive.
Page 6 - ... of the Agricultural Marketing Act, as amended), the raising of livestock, bees, fur-bearing animals, or poultry, and any practices (including any forestry or lumbering operations) performed by a farmer or on a farm as an incident to or in conjunction with such farming operations, including preparation for market, delivery to storage or to market or to carriers for transportation to market.
Page 10 - LIMITATION. — Unless a claim for credit or refund is filed by the taxpayer within three years from the time the return was filed by the taxpayer or within two years from the time the tax was paid, no credit or refund shall be allowed or made after the expiration of whichever of such periods expires the later.
Page 8 - ... months. Such amortization deduction shall be an amount, with respect to each month of such period within the taxable year, equal to the adjusted basis of the...
Page 15 - The net income of the estate or trust shall be computed in the same manner and on the same basis as in the case of an individual...
Page 7 - Guard; (C) Service performed in the employ of the United States or in the employ of any instrumentality of the United States, if such service is performed — (i...