Bulletin D Income Tax

Bulletin D Income Tax : Average Percentages of Pre-War Income to Pre-War Invested Capital of General Classes of Corporations, Grouped as to Trades or Businesses, as Provided for in Section 311 (C) (2), Revenue Act of 1918 (Classic Reprint)

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Excerpt from Bulletin "D" Income Tax: Average Percentages of Pre-War Income to Pre-War Invested Capital of General Classes of Corporations, Grouped as to Trades or Businesses, as Provided for in Section 311 (C) (2), Revenue Act of 1918 As soon as practicable after the return is filed, the commissioner shall examine it. If it then appears that the correct amount of the tax is greater or less than that shown in the return, the installments shall be recomputed. If the amount already paid exceeds that which should have been paid on the basis of the installments as recom puted, the excess so paid shall be credited against the subsequent installments; and if the amount already paid exceeds the correct amount of the tax, the excess shall be credited or refunded to the taxpayer in accordance with the provisions of section 252. Inasmuch as the examination of all returns filed will not be com pleted by the due date of the last installment of 1918 taxes, it is suggested that the taxpayers entitled to credit based on the appro priate average percentage shown in the accompanying tables may recompute their tax, using a war profits credit based on such average percentage, and file claim for abatement for as much of the last installment of the outstanding assessment as the total tax assessed exceeds the tax so recomputed. In any case where the amount already paid exceeds the amount due, with the benefit of the average percentage, claim for refund should also be filed on Form 40. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.show more

Product details

  • Paperback | 20 pages
  • 152 x 229 x 1mm | 41g
  • Forgotten Books
  • United States
  • English
  • , black & white illustrations
  • 0243025491
  • 9780243025497