Regulations 67 Relating to Gift Tax Under the Revenue Act of 1924U.S. Government Printing Office, 1924 - 58 pages |
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Common terms and phrases
15th day 30 days acquired in exchange ad valorem amount of gifts annuity Article Board of Tax bona fide purchaser bonds centum a month centum per annum charitable children or animals claim for abatement consideration in money cruelty to children day of March decedent deficiency tax determined distraint due date estate tax executor expiration extension failure to file fair consideration fair market value false or fraudulent fraternal society fraudulent return gift tax gifts or contributions granted gross estate imposed by section interest Internal Revenue Liberty bonds lien ment money or money's money's worth Nonresident donor notice and demand Payment of tax payment thereof period preparation or presentation present worth prevention of cruelty refund Resident donor revenue act Revised Statutes section 319 subdivision Tax Appeals tax imposed tax liability taxable gifts exceed tentative findings total amount trustee or trustees United valuation vocational rehabilitation vocational rehabilitation act
Popular passages
Page 40 - Except as otherwise provided in sections 284 and 319 of the revenue act of 1926, the Commissioner of Internal Revenue, subject to regulations prescribed by the Secretary of the Treasury, is authorized to remit, refund, and pay back all taxes erroneously or illegally assessed or collected, all penalties collected without authority, and all taxes that appear to be unjustly assessed or excessive in amount, or in any manner wrongfully collected...
Page 25 - In the case of a false or fraudulent return with intent to evade tax or of a failure to file a return the tax may be assessed, or a proceeding in court for the collection of such tax may be begun without assessment, at any time.
Page 44 - ... matters required to be included in the return, and may require the attendance of the person rendering the return or of any officer or employee of such person, or the attendance of any other person having knowledge in the premises, and may take his testimony with reference to the matter required by law to be Included in such return, with power to administer oaths to such person or persons.
Page 44 - SEC. 3226. No suit or proceeding shall be maintained in any court for the recovery of any internal-revenue tax alleged to have been erroneously or illegally assessed or collected, or of any penalty claimed to have been collected without authority, or of any sum alleged to have been excessive or in any manner wrongfully collected...
Page 24 - If any part of any deficiency is due to negligence, or intentional disregard of rules and regulations but without intent to defraud, 5 per centum of the total amount of the deficiency (in addition to such deficiency) shall be assessed, collected, and paid in the same manner as if it were a deficiency, except that the provisions of section 272 (i).
Page 16 - ... a fraternal society, order, or association operating under the lodge system, but only if such contributions or gifts are to be used within the United States by such trustee or trustees, or by such fraternal society, order, or association, exclusively for religious, charitable, scientific; literary, or educational purposes...
Page 37 - ... any person who willfully attempts in any manner to evade or defeat any tax imposed by this chapter or the payment thereof, shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than five years, or both, together with the costs of prosecution.
Page 48 - ... exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 44 - The district courts of the United States at the instance of the United States are hereby invested with such jurisdiction to make and issue, both in actions at law and suits in equity, writs and orders of injunction, and of ne exeat republica, orders appointing receivers, and such other orders and process, and to render such judgments and decrees, granting in proper cases both legal and equitable relief together, as may be necessary or appropriate for the enforcement of the provisions of this Act.
Page 20 - ... fails to make and file a return or list at the time prescribed by law or by regulation made under authority of law, or makes, willfully or otherwise, a false or fraudulent return or list, the collector or deputy collector shall make the return or list from his own knowledge and from such information as he can obtain through testimony or otherwise.