General Revenue Revision: Hearings Before the Committee on Ways and Means, House of Representatives, Eighty-third Congress, First Session, on Forty Topics Pertaining to the General Revision of the Internal Revenue Code, Volumes 1-2

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U.S. Government Printing Office, 1953 - 2950 pages

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Page 208 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered; traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business...
Page 598 - A casual sale or other casual disposition of personal property (other than property of a kind which would properly be included In the inventory of the taxpayer if on hand at the close of the taxable year) for a price exceeding $1,000...
Page 255 - ... if the total distributions payable with respect to any employee are paid to the distributee within one taxable year of the distributee on account of the employee's separation from the service, the amount of such distribution to the extent exceeding the amounts contributed by the employee, shall be considered a gain from the sale or exchange of a capital asset held for more than 6 months.
Page 376 - ... (b) Exclusions from gross income. — The following items shall not be included in gross income and shall be exempt from taxation under this title: (1) LIFE INSURANCE.
Page 449 - Secretary or his delegate not to be discriminatory in favor of employees who are officers, shareholders, persons whose principal duties consist in supervising the work of other employees, or highly compensated employees; and (4) If the contributions or benefits provided under the plan do not discriminate in favor of employees who are officers, shareholders, persons whose principal duties consist In supervising the work of other employees, or highly compensated employees.
Page 147 - ... (2) If, by reason of the method of accounting of the person to whom the payment is to be made, the amount thereof is not, unless paid...
Page 265 - If at least 80 per centum of the total compensation for personal services covering a period of thirty-six calendar months or more (from the beginning to the completion of such services...
Page 463 - In connection with 2 or more trusts, or one or more trusts and an annuity plan, the total amount deductible in a taxable year under such trusts and plans shall not exceed 25 percent of the compensation otherwise paid or accrued during the taxable year to the persons who are the beneficiaries of the trusts or plans.
Page 434 - ... the amount actually distributed or made available to any distributee shall be taxable to him in the year in which so distributed or made available to the extent that it exceeds the amounts paid in by him.
Page 254 - ... (2) General rule. — If, during the taxable year, the recognized gains upon sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or the threat or imminence thereof...

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