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This article presents information on economic conditions of the U.S. The magnitude of the fraud sought to be perpetrated on the taxpayers of the United States by the shipping-subsidy bill, can be best understood by making a comparison of the sums actually appropriated by Great Britain. For these payments, the admiralty have the first call on the ships, at much lower rates than they would have to pay if the boats were chartered in times of emergency, and they have also the first call on other ships belonging to these companies for which no subvention is paid. The alarm of some of the Connecticut farmers who grow tobacco over the possibility that free trade may be established between this country and Porto Rico, illustrates once more a perennial characteristic of protected industries. The acuteness of the alarm in the case referred to, may be gauged by the fact that the value of the tobacco crop of the United States, according to the returns for 1896, was $24,258,070, taking as approximately correct the returns of the U.S. Agricultural Department

The article talks about appraisal in terms of actual loss through depreciation of industrial property and which should be reflected in the financial statements. It explains how, by means of appraisal service, such properties are analyzed and brought under control in order to make it an efficient tool of production. It adds that the adjustments in depreciation accounts protect the taxpayer in his income tax returns and must be done accurately to reflect the true value of assets and of profits.

The article features Charles W. Nash, president of U.S. automotive manufacturer Nash Motors Co. Nash is an ex-farm boy who became mechanic, master mechanic, and president of General Motors. According to the article, Nash is one of the largest income tax payers in the U.S. as of January 1926. He attributes his success to determination, close application to details, hard work and more hard work.

The article focuses on the door-to-door program of the U.S. Internal Revenue Service to examine tax returns in the U.S. regions. It states that added revenue has exceeded the cost of the campaign, which indicates that it will likely to be expanded and continued. It says that the program did not face resistance from taxpayers and suggestions have drawn more extra revenue. It adds that New England has brought 400,000 dollars in four days of spot-checking, while Missouri expects 150,000 dollars.

The author shares his thoughts about the U.S. taxpayers. According to the author, the American taxpayer is the human progress' latest product. The U.S. taxpayers have to contribute to world's greatest war. It says that 62.6 billion from taxpayers will be used for World War II. Despite criticism to taxes, the complacent observer believes that all the tax money goes back to the people.

This article focuses on audit compliance in taxation as practiced by the United States Internal Revenue Service and the American Institute of Certified Public Accountants. Several items were considered discussed in the article. First, the Internal Revenue Service appeals and procedures which include Audit and Appellate. Second, computer audits and revenue rule. Third, audits during the tax season and cyclical filing of returns. Fourth, auditing of related returns by one district.

The article presents a corporation tax return review sheet. Law practitioner Jackson L. Boughner has prepared the review sheet. The sheet addresses the complexities of corporation tax returns. The increasing complexities of corporation tax returns are making it more and more difficult for the small practitioner to he sure each return is complete and nothing is overlooked. An oversight might be serious and costly, or it might just be embarrassing.

The article presents a discussion on the reactions of the U.S. Internal Revenue Service (IRS) to suggestions on reopening closed cases and restricted consents. To the suggestion that a closing agreement be used in virtually every audit, it would appear to be wholly impracticable. On the other hand, a taxpayer is never refused a closing agreement solely because it gives no advantage to the government. With respect to the raising of new issues, the IRS suggests that new issues are never to be raised capriciously, indiscriminately, promiscuously or haphazardly and are never, under any circumstances, to be raised for bargaining purposes. Essentially the new policy on closed cases will foreclose reopening of an audited return unless: there is evidence of fraud, malfeasance, collusion, concealment or misrepresentation of a material fact; the prior closing involved a clearly defined substantial error based upon an established IRS position existing at the time of the prior examination; other circumstances are present that indicate failure to reopen would be a serious administrative omission.

This article discusses the problem of allocating income between controlled taxpayers in accordance with Section 482 of the U.S. Internal Revenue Code. The purpose of Section 482 is to place a controlled taxpayers on a tax parity with an uncontrolled taxpayer, by determining, according to the standard of an uncontrolled taxpayer, the true taxable income from the property and business of a controlled taxpayer. The standard to be applied in every case is that of an uncontrolled taxpayer dealing at arm's length with another uncontrolled taxpayer.

The article focuses on the money borrowed by the U.S. President in San Francisco's Bank of America Corp. to pay taxes. The Congress reduced income tax rates in two-stage by slashing withholding tax to make tax cut that decreases to 14% rate that resulted to discharge 500 million dollar. Moreover, the Internal Revenue Service says that taxpayers are allowed to pay later and will be charged 6% interest.

The article reports that the Japanese government is set to reduce its taxes for higher-income individuals and corporations in order to increase tax compliance and cut down tax delinquency and evasion.

The article offers information on topics related to business in the U.S. in 1965. It provides details on various ranch and resorts in Arizona including Double U in Tucson, Rancho de los Caballeros in Wickenburg, and Camelback Inn in Scottsdale. It offers tips in reducing Treasury bill under the 1964 law revision concerning the U.S. Internal Revenue Service (IRS) such as tax deduction for child care, education and insurance premiums.

Citizens throughout the land, as they sit down anew to sip the beer that made Milwaukee, Wisconsin, famous, are wondering what has happened to dim its other, sounder fame as a model city, free of crime, bare of graft, a shining example of financial husbandry. They have read that the glory of this city, ruled by those wicked Socialists, has darkened; that its dramatic, Lincolnesque Mayor, Daniel Webster Hoan, has been the target of a recall movement; that grand-jury indictments have besmudged its record; that its treasury, once overflowing, is now barren; that municipal employees have to wait three months for their pay; and that taxpayers are in ferment and turmoil. Many are puzzled by this strange turn of affairs. The city they pointed to as an example of sound municipal government has seemingly failed them.

The article offers information on topics related to taxation, hunting and charity works in 1953. It says that the U.S. Treasury Department will conduct its door-to-door examination of taxpayers permanents as part of its effort to tighten tax-collecting machinery. It adds that Maharaja of Cooch Behar will carry out a series of shooting expeditions from January to March 1954 in Assam, India while the Community Chest advices to give gifts to Christmas Bureau than preparing a basket for the poor.

The article focuses on the expense account economy in the U.S. It mentions that Internal Revenue Service has required taxpayers to list on Page One of Form 1040 the amount his employer paid for his business expenses supported by summary list of total expenditures such as meals, travel, and telephone bills. Meanwhile, the change in the 1957 form aims to prevent loophole crawlers, and to stop big companies from giving top executives such expense account items such as foreign trips and vacations.

The article presents the new basic approach of the Internal Revenue Service (IRS) to crackdown income tax returns in the U.S. the approach includes tightening field office practice to discourage taxpayers to indulge sole proprietors, partners and top men to chisel expense deductions and double check file reports on expenses allowances. Also outlined is the proper application of the new policy to get better result.

The article presents the experience of a U.S. taxpayer who received a bill along with a note from New York Telephone Co. The note read that the New York City Sales Tax Law provides that a 2 per cent tax is to be billed on charges for Local telephone service, including the charges for message units, furnished within New York City. Message units used on calls from New York City to Southern Westchester and Nassau County, which are non-taxable, cannot be separated from those used on calls to New York City points, therefore, the 2 per cent sales tax is applied against the total charge for all message units billed. Thus the taxpayer wanted a refund from the utility company but he landed in a mess.

The article discusses how Arkansas Representative Wilbur D. Mills directed a meeting of U.S. Senate and House conferees over the tax reform bill of 1969 held in December. It notes that the meeting lasted for hours during which conferees were said to be aware of the need for their final product to meet the standards of Mills who also serves as House Ways and Means Committee chairman. It mentions that Mills prevented the conferees from talking themselves into exhaustion and compliance as well as kept the debate on course.

Presents the views of U.S. Senator Robert M. La Follette Jr. on the imposition of taxation according to the capacity of taxpayers to pay in 1938. Basis of graduated income and estate taxes on the principle; Responsibility of U.S. people to pay their taxes; Expectations of the people for tax burden reductions.

The article focuses on the relief provided to income taxpayers by the simplification formula of the Ways & Means Committee in the U.S. It notes that the computation of future returns will be an exemption for 30,000,000 taxpayers while a streamlined process will be implemented for 20,000,000 taxpayers. It mentions that the statement of income and withheld taxes must be submitted to the collector of internal revenue.

Several letters to the editor are presented in response to articles in previous issues including the deaths in highways in the March 27, 1965 issue, the filing requirement for taxpayer's estimated income tax in the April 3, 1965 issue, and "Freezer manufacturer builds a life saver" in the March 6, 1965 issue.

The article focuses on the work of the advisory committee appointed to assist in the formulation of a long-range program for revision of the U.S. federal tax structure. Its head was Roswell Magill, professor of law at Columbia University and associated with a prominent firm of corporation lawyers. The committee is not yet prepared to scrap entirely the principle of taxation in accordance with ability to pay, it will be satisfied if surtax rates are lowered to the point where not even the wealthiest taxpayer will pay more than half his income to the U.S. Treasury. References in the report to excise taxes are vague but ominous.

The author provides pieces of advice on taxation issues in the U.S. as of September 1938. He explains the taxation involves in transferring stocks to son, the exemption of an attorney's salary for Federal income-tax purposes and the sale of stocks to wife. He also discusses the selling of pledged stock.