The book Federal Income Tax Problems 1922 was written by author E E Emerson Emanuel Rossmoore Here you can read free online of Federal Income Tax Problems 1922 book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Federal Income Tax Problems 1922 a good or bad book?
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Little John and his family. The tax on bank stock was not repaid to the bank. QUESTION : What is the status of each of the above items for Federal in- come tax purposes ? ANSWER : (1) Deductible; (2) Deductible; (3) Not deductible, being a tax against local benefits of a kind tending to increase the value of the property [Sec. 214 (a) (3) (c)] ; (4) Not deductible, being considered a personal expense ; (5) Deductible; (6) Deductible; (7) not deductible [Sec. 214 (a) (3) (a)] ; (8) Not deductibl...e [Sec. 214 (a) (3) (d)] ; (9) Deductible; (10) Deductible. 128 FEDERAL INCOME TAX PROBLEMS 1922 REFERENCES : Sec. 214 (a) : "That in computing net income there shall be al- lowed as deductions: . . . (3) Taxes paid or accrued within the tax- able year except (a) income, war-profits and excess-profits taxes, imposed by the authority of the United States, (b) so much of the income, war-profits and excess-profits taxes, imposed by the authority of any foreign country or possession of the United States, as is allowed as a credit under section 222, (c) taxes assessed against local benefits of a kind tending to increase the value of the property assessed, and (d) taxes imposed upon the taxpayer upon his interest as share- holder or member of a corporation, which are paid by the corporation without reimbursement from the taxpayer.
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