Digest of Decisions and Regulations Made by the Commissioner of Internal Revenue Under Various Acts of Congress Relating to Internal Revenue, and Abstracts of Judicial Decisions, and Opinions of Attorneys-General, as to Internal-Revenue

Digest of Decisions and Regulations Made by the Commissioner of Internal Revenue Under Various Acts of Congress Relating to Internal Revenue, and Abstracts of Judicial Decisions, and Opinions of Attorneys-General, as to Internal-Revenue

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...3, 180,5, that where a life estate is extinguished by an actual bona fide purchase for a valuable and adequate consideration the tax should be assessed upon only the difference between such consideration and the value of the estate. When. however, it is extinguished without any valuable consideration, as for instance by a voluntary deed of surrender, defined as a "yielding up of the estate for life or years to him who has an immediate estate in reversion or remainder, by which the lesser is merged in the greater," the tax should be assessed upon the entire value of the property. (T. D.; July 30. liSli!).) Record of leaf tobacco sales necessary. The internal-revenue law is imperative in requiring every dealer in leaf tobacco to enter daily in a book kept for that purpose, under regulations of the Commissioner. all purchases, sales, and shipments of tobacco made by him. In requiring this mord it is clear that the law contemplates a record of transactions other than that ordinarily made by auctioneers or dealers for their own convenience and information. This record is required in conformity with express regulations in order that there shall be uniformity of practise in different districts. (T. D.; July 30, 1SW) Claims for refunding-Limitations of time. An additional regulation relating to claims for refunding taxes prescribes that nu claim or application hereafter made for refunding taxes will be entitled to conrfderation by the Commissioner of Internal Revenue unless the same shall 1 -lileil with the Commissioner within two years from the date of the payment of the tax. or in claims already accrued within two years from this date. (T. D.; August 3, 1869.) Stamps on spoiled tobacco--Redemption disallowed. The law requires all...show more

Product details

  • Paperback | 170 pages
  • 189 x 246 x 9mm | 313g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236616421
  • 9781236616425