Accrued but not received, 247, 190; 529 (d), 478. Alimony, 107 (a), 76; 582 (c), 511. Amortization of bond discount, 529 (b), 478. Appreciation of assets, effect on, 533 (n), 479. Bequest to executor, 116 (d), 80. Book adjustments, effect on, 533 (m), (o), 479. Capital assets, profit from sale of, 48, 49, 36; 512, Commissions accruing prior to March 1, 1913, 109, Debenture bonds, 17 (b), 10. Definition, 104 (b)-(d), 75; 106 (b), 76; 107 (c), Divided or undivided, 497, 462; 504, 463. 77; 113 Dividends credited but not set apart, 17 (c), 10. Dividends paid from depletion reserve, 16, 10. Dividends paid from earnings accrued prior to March Dividends, taxability to controlling corporation in Entire net, 526 (b), 477; 580 (b), 510. INCOME Continued. Foreign commerce, taxability when derived from, 104 German marks, transactions in, 103, 74; 582 (1), 512. Insurance stock, income from sale of, 52 (b), 39. Interest, taxability to bondholder, 492, 458. Legal tender, requirement that income be measured Lessor, when building is constructed by lessee, 106 Lessor corporation, when dividends are paid directly Money embezzled, 111 (a), 77. Municipal bonds, interest on, 520, 471; 573 (a), 508. Nonresident alien, from property owned in U. S., Non-taxable property, as measure of, 526 (b), 477; Outlawed obligations, taxability to debtor, 533 (1), 479. Partners, taxability as to dividends, 162, 130. Partnership, for excess-profits tax, 381 (b), 319. Profits not received, because embezzled, 105, 76. Realty or personalty taxability before Sixteenth Received for services rendered prior to, not derived Rentals paid to terminal company, 111 (c), 77. (b), 76; 107 (g), 77; 113 (c), 78; 113 (i), (j), 79. Salary account credited after March 1, 1913, for over- Salaries of officers and employees, 385 (b), (c), 323. State municipality, 509, 463. Stock dividend, sale of, 42 (b), (c), 28, 29. Stock dividends declared from surplus accrued after Stock dividends declared from surplus accrued prior Stockholder on stock received from new corporation Tax of 72% on income in highest bracket, constitu- Tax withheld, 104 (a), 75; 111 (d), 77; 185, 148. Trustee, when charitable institution is beneficiary, Validity of measure of income in legal tender, 511, INCURRED IN TRADE- Losses, 126 (c), (d), 91; 133 (a), (b), 94, 95. Against trust company from delivering collateral of Against voluntary making of return and payment of To enjoin collection of tax, 562 (f), 501; 562 (g)- To enjoin collection of tax after statutory period, To enjoin collection of tax before due, 562 (0), 502. To enjoin collection of penalty, 562 (q), 502; 562 To enjoin collector from examining books of taxpayer, To enjoin sale of property by collector to satisfy INSURANCE- Constitutionality including in gross estate proceeds of Deductibility of reserves by, 268 (a), (b), 204, 205; Depreciation on securities owned by, 536 (d), 480. "So-called" dividends excluded from gross income of, INTEREST- Accrued and due prior to March 1, 1913, taxability, Bondholder, taxability to, 492, 458. Deductibility, 254 (a), 255, 256, 193. Deductibility of, limitation, 539 (b), (e), (g), 481. Limitation in amount deductible, constitutionality, On debenture bonds, 540, 481. On investment as part of cost, 106 (a), 76; 533 (j), On judgment, 564 (s), 504. Paid in cash, 490, 458. Received, 533 (i), 479. Recoverable in suit, 564 (c), 503. Recoverable in suit against collector, 564 (n), 504. INTERNAL REVENUE AGENT- Witnesses compelled to testify before, 472, 406. Appreciation in value of assets, 397 (d), 330. Assets constituting a substantial, 404 (b), 334; 404 Assets constituting no, 404 (b), 334; 404 (e), 335. Earned surplus and undivided profits, 399, 331. Legal reserve included in, 397 (e), 331; 400, 333. Partnership, partner's property pledged for loan of, Statutory definition binding on courts, 397 (g), 331. JOINT ESTATE- J Created prior to passage of Estate Tax Act of 1916, LIEN FOR TAX- Assessment prerequisite to, 510, 464. Attaches after demand by collector, 559 (b), 497. Estate Tax Act becomes lien at death, 419 (a), 346. Constitutionality including in gross estate proceeds Proceeds of policy on life of officer, taxability to Amount of interest deductible, 254 (b), 193; 539 Invested capital, 397 (c), 330; 580 (f), 510. 66 See Statute of Limitations." LIQUIDATING DIVIDEND— Of corporation, income to stockholders, 106 (e), 107 LODGE SYSTEM- Association operating under, exemption, 224, 182. Construction of Sec. 202, Act of 1918, 41, 28. In reorganization, 106 (e), 107 (b), 76; 107 (9), 77; Losses incurred in trade, 133 (a), (b), 94, 95. Sale of certificates of stock which can be identified, 79. Dividends paid from earnings accrued before, 17 (d), Effect of value on, in determining depletion deduc- Evidence of value of, 51, 38; 52 (a), (b), 38, 39. Materiality of value on, for determining deductible Sale of property purchased prior to, 50 (a), (b), 36, MARRIAGE SETTLEMENT- Property transferred under, as part of gross estate, MATERIAL PART- Of estate, 430, 352. Advanced to subsidiary, 534 (i), 480. Included in gross estate, 422 (c), 348. Income derived from, taxability, 520, 471; 573 (a), MUNITIONS MANUFACTURERS' TAX- Wet picric acid an explosive, 550, 489. MUTUAL FIRE INSURANCE COMPANY- NONRESIDENT CITIZEN- Constitutionality of tax on income of, derived from Taxability on income derived from foreign sources, NON-TAXABLE PROPERTY- Tax measured by income from, 528, 478. Personal exemption limited to, 151, 117. Mailing of, presumptive receipt, 544, 484. Of U. S. can't waive prohibition of Sec. 3224, R. S., OFFICERS AND EMPLOYEES- Of state or subdivision, what constitute, 385 (a), 323. OUTLAWED OBLIGATIONS Income to debtor, 533 (1), 479. ORGANIZATION- Change in form of to lessen tax, 170, 135. Corporation, 527 (j), 478. ORGANIZED- "No matter how created or, as to corporations," etc., PARTNERSHIP- Association distinguished from, 213 (a), 176; 215 Bankrupt, priority of claim of U. S. for individual Income for excess-profits tax, 381 (b), 319. Income of, taxability, 381 (a), 319. Partner's property pledged for loan of, as invested Taxable as joint stock association, 523 (b), 476. Invested capital, 397 (a), 330. PAYMENT_ By check, 481, 422. Of estate taxes with Liberty Loan Bonds, 452, 374. PENALTY- Applies to failure to file excess-profits tax return, Attitude of courts in imposing, 558 (b), 496. Fraud not necessary in imposing, 557 (a), 496. Suit to enjoin collection of, 562 (q), (s), (u), 502. Tax on income from, before Sixteenth Amendment, PERSONAL EXEMPTION- Limited to normal tax, 151, 117. PHILIPPINE ISLANDS- Citizen of U. S. residing in, 80, 61; 193, 158. An explosive under munitions tax, 550, 489. Constitutionality of tax on income of domestic cor- See "Appointment"; "Estate Tax." Amortization of, as depreciation, 536 (c), 480; 539 PRESUMPTION— As to validity of assessment, 564 (aa), 505. Federal taxes in bankruptcy, 569 (b), (c), 507; 572 Partnership creditors over partners' individual in- Definition, 233, 185; 532, 479. Life insurance policy on life of officer, taxability to RATES- Progressive, constitutionality, 87, 63; 580 (j), 510. Tax on income from, before Sixteenth Amendment, RECEIVERS- Bill to enjoin collection, 562 (c), 501. Operating railway, taxability, 292 (a), (b), 233. Constitutionality of act taxing income earned during, Corporation in, taxability, 211 (a), 176; 522, 476. Where U. S. moving party, receiver not bound by After acceptance of, suit for additional interest, 480, Claim for, effect on statute of limitations against Claim for, not dependent upon protest, 366, 305. Suit for, protest on payment of tax, 564 (g), (h), 504. Congress deemed to have adopted construction, in Effect of, in construction of act, 470 (a)-(e), 404, 405. Exemption of, 228, 184; 232 (a), 184. Paid to terminal company as income, 111 (c), 77. Income arising from, 17 (e), 10; 106 (d), (e), 76; Income to corporation in case of, 533 (q), 480. Furniture and equipment, deduction as expense, 534 RESERVES OF INSURANCE COMPANIES- Definition, 562 (i), 502. Change in accounting methods, 96, 72. Estate Tax Act, 423 (e), 424, 426 (b), 427 (a), (b), Revenue law, constitutionality, 85, 62; 92, 68; 198, Amended, effect upon statute of limitations, 564 (i), Amended, mandamus against commissioner to compel "Amended, penalty for false, 374, 312. Executor, where testator dies between March 1, 1913, Failure to file due to reasonable cause, 558 (a), 496. Penalty for failure to file applies to excess-profits Requirement for, constitutionality, 542 (a), 483; 579, Credited after March 1, 1913, for overdraft made Deductibility when fixed by board of directors, 534 Deductibility when based on stock-holdings, 534 (b), Federal judges, taxability, 110, 77; 578, 510. Suit to set aside, prohibited, 562 (i), 502. Dividends, taxability to, 499, 462. Undistributed profits, taxability to, 498, 462. SCRIP DIVIDEND- Taxability, 502, 463. Depreciation on, 536 (d), 480. Definition of income within meaning of, 107 (c), 76; Effect of, 76, 77 (b), 79, 61; 581 (a)-(c), 511. Proceeds of insurance policy not income within mean- "SO-CALLED" DIVIDENDS- Excluded from gross income of insurance companies, STATUTE OF LIMITATIONS-Continued. Not binding on U. S. in bankruptcy, 571, 507. Suit to recover taxes erroneously paid, 564 (i), 504. STATUTORY DEFINITION— Of invested capital binding on courts, 397 (f), 331. STOCK DIVIDENDS- Cost determination of, 42 (c), 29. Debenture bonds, distinguished from, 17 (b), 10. Declared from surplus accrued prior to March 1, 1913, In reorganization, 17 (e), 10; 106 (d), 76. STOCKHOLDER- Bill by, to enjoin collection, 562 (d), 501. Dividends declared from surplus accrued prior to Liability for tax after liquidation, 210 (c), 176. Liability of stockholders for taxes assessed after dis- Liquidating dividend, taxability, 113 (f), 78. Release by, of debts to corporation, 533 (p), 479. Stock dividends as income to, 507, 463; 533 (r), 480. Undivided profits of corporation, as income to, 488, STOCKHOLDERS' ACCOUNTS— Dividends left in business, as invested capital, 399, SUCCESSION TAX- Deductibility, 131, 93. SUCCESSOR OF COLLECTOR- Suit against, not maintainable, 564 (j), (k), 504. Against collector, a personal action, 564 (j)-(m), 504. Against collector, effect of Sec. 252 on, 361, 303. Against collector, maintainable to recover taxes il- |