2023 L TJTLE 26.———1.NTE1€
l 272. Citation.——'fhisl Act " may be cited as the 1* Revénue Act
·· of 1926." (Feb; 26,-1926, c. 27, § 1, _44 Stat. 9.) A similar provision wiih respect to the"‘R<;vcnue Act of 1924 "· is set out in _§ 1272·0f Tft1_e 26, INTBRNALaR}}\’EUNl. ” 1273, Repeal ofpricr pmvisicns.-¥—The following parts of- the },;{—¤·¤¤uc Ac; of 1924 are repealed, to take cmaet (Qxcept as _· ,Qm(·;·?§e provided iu, this-Act) gym the enactment of this ‘ ,\¤·t subject 10 the limitatkons provided in subdivision- (b) : 8- . Title II (called f‘inc0 e tax")‘ as of_`Jam1ary 1, 1925,_ex·‘ 1 __,-9;;:, sgctimé 257 and s tions 271 to 282, inclusive; - l Section 257 and se nous 271 to 282, inclusive (being certain , aamiuisfmtive provisions of the income tax) ; " Part I of Title III (called "estate tax ") ; · _ , Part *11 of Titlg III'”(cal1ed "gift_ tax") as 'Of Jamiary 1, 1926; • ‘ _ _ · ‘ , _ 'Title _IV- (called “tax_ on cigars, tobacco, augl manufactures ` $1»;e:·e0f-") éxcept section 400; · - _ . _ _ ‘ /Su-·tion 400 (being the tax ou féigars and cigai·ettes)_ eifec- _ tive un jthe expiration of 30 days utter th¢ enactment ‘0t .. this Act; . . F _, 1 · —_ l · . _ Title V (called "tax OI), admissions ·and’ ducs"), efective un the expiration — ot _ thirty days utter t11e\ enactment of tI1is—Act; · · , ·_‘ _ _. ,5 _ _ — Title VI (called "e6ise taxes") except subdivision (2)· of sawtipn 600; - _ _ _ · _ ° __ ·S:,ibdi;·isi011 (2) og section 600 (being the tax on ccrtaiq am_¢ >mobi1es)' effective on xhg expiration di 30 days after the Qxxuvtméllt of this Act; _ ' _ · l ‘ · _ Title VII (cul1edv"_speci;11 taxes "), eiective on Jude 30, _ Title VH1 (called "stamp taxes Y). effective 0n_the éxpiraif aim: of thirty. days after the euactméntff tlyis Apt; ·` 1 Saeriems 1004, 10%, 1006, hqd 1007, subdivision._(a) of sec- ” Linn _`1008, secyions 1009, 101Q, 1011, 1012, 1014, 1018, 1019,.,and ' ,14*20, subdivisions "(a)_ and (b) of sectipu- 1021, -subdivision_ (c) `T uf sevgiun 10*25, and sections 1026, 1027, 1028, 1029, 1030, and , 1031- (being wcertgiu administrative provisions), _` (Feb. 26, 1!,V26,.c,_27, Q 1200 (11),44 Stat,125.) " l` K · 4 . . ·] Resv seztioa. _ . . - _ . _ j The Revenue Act of 1924, mentioned in the. text is set out-in , '1`iik··'26, Is·r1~;:xx.n. Rsvxxun and “this Act," similmjly mentioned, constitute; {bib suppicmeutnl title; Subdivision (6) ogthis section j h1•I'8i§"!'£‘f¢i'1‘§d ·t¤, mmtitutesl Q 1260 ot anla title. Title.; II`ot · nzaiii Aert of 1924,·me:1ti0¤ed 811 the text, conntitqtes c.--19 of said j Tide Zqcxcepting li 983, 1025, 1067 and 1068. Section 262 is set _ wma in { IQ24 pt and Title 26. Sections 271 to 282, inclusive, also ·_ mvnyioued, arg set qu; in ji 1945 to 1066, inclusive, of said Title 28. _Pu·ts I and Il of Title III, mentioned in the' text c0nst§tu"tc—· Partg l· aug!}. rcapgctively, nf cz. 20, of said Title 26. Title IV., 1 7 mwticued in the text 1; net out in §|· 781, 769,_7‘Z0,· 783, 792 to , 797, includvc, 828, 829, 831 tb 834, ihcludve; and 845 of said Title . 26, Ixn:¤x4x.·H¤:v¤x¤¤. Section 400, also mutionm, is pet out in 1 §§ 828, 829, 831 to 833, inclusive, and 845 oinid Title 26; Titles F V and Vfsawtioaed in the text constitugs chi. 16 and- 17, rgspectiveiy, gt nid Title 28. Bubwvision (2) of | 800 is act out in , ·§ 881 ot Titlejw. Title VI1 mentioned in the.; text treat out in §§· 182, 2%, 21]; to 229, imclus1vc,`·2%, 224, 691 to 695, inclusive, 792, 704, and 708 ci said Title 28. Tim VIII, also mentioned, in * sex out in $5 Q01 to 909, inclusive, at mid Titlé %., Section 1004, _ 1005, 10%, 1007,- and 1068 héreiu referred to, nre,s¢t out in l 55 1247, 1248,,.124% 1250, and 1;.51, respectively, ·ot~Title 26, Ixrznn. Bxvmnqa., Section 1609, use mentioned, in nef out In ' · H 10510 168, inclusive, dt ng! Tub 28: { 1016 is set 9ut·in `< · H 585 and 5% of Title 18, Cn1auiux..C0¤¤ Ass: Cunsrxn. P50- j _€f»*;9¤:xm, Sections 1011, 1012,"a¤¤d I014 are net mt ly H 149,157. j and 156, wectively, ¤!_'1‘i1ie_$’6, Ixzmxxu. EE·¥'13NUI.` §e¢tim1 1918 is at eu; in Q 216 o£"1‘1tl—¤ 18, Cxuuxw Cam mn Cnunizu. _ Pscctucas and in M 28, 58, 62, 91, 98, &4,__u1B 1625_0! Title 26,· · Ismxxu; Emmaus. Eiecuons 1619 um 1920 gre inet mat. in §§_`1§3 e of salk1·Titlc 26 and 284 at Title 28, ‘J1:mc1,AL Com Asn Jumcusx, I respectively. Subdivisions (n) ami (b)·¤.t¥| 1021, nmnticned in the I "°"T¤i¤ Act,f’ herein _` seferrcd- t.o,··co¤s11:.utea this 'titla of the appbudixg Q " # . 1
NAL Jzzwszvvu §1274 text, are set out ln §§ 110 and 113, respectively, of said Title 26, Subdivision (c) of § 1025 is set out ia paragraph 20 of §~ 41 of l .»Tit1e 28, Jcnrcraz. Coon one Jcnxcuer. Sections 1026 and 1027 are set out in $5 1187 and 1177, respectively, of Title 26, Ixrrzlaxlu. Rzvmwrm. Section 1028 and 1029 are set-,0ut in §§ 748 of Title 31, Moxmz Arm Fxnexcm, and 15 of Title 6, Orwrcrn. Arm Puma Isorms, t respectively. _Sections·1030 and 1031 are pet out, the former lu § 136 and the latter in §§ 124 and 140 of Title 26, Ixrsxrxnn _ Rmvrcxum, — , · , _ 1274. Joint congressional committee on internal revenue taxation; members; vacancies; duties; organization; powers; expenses.—(a) There is hereby established a joint congres-. sional committee to known as the Joint Committee on Internal Revenue Taxation .(hereinafter_ in this section referred to as the "‘Joint C0uimfttee"),"” and to- be composed of ten member as follows: ” _ ‘ I _ T ' {-1) Five members who are members of the Committee on Finance of the Senate, three from the majorityi and two from the mtnorfty_ party, to chosen by sncheommittee; and (2) Five - members who are members of the Committee on Ways and Means of the House of Representatives, three fromthe majority and two from the minority party, to be chosen by such commltteef . _ .· _ - (b) No- person shall continue to serve as a member ot the Joint Committee after he has ceased to be a member ortho committee by which he was chosen, except that the members chosen by the Committee on Waye and Mans who hare been re·elected Qto the House of- Representatives may continue to save as of the Joint Committee notwithstanding the expiration of the Congress. Aivacaney in the Joint Committee shall not aHect the power of the remaining. members to exccute the` functions of the Joint Committee, and shall be tllled in the ‘same_manner as the original selection, except that (1) in case of at vacancy during on adjournment or recess of Cougress for a period of more than two weeks, the members of the Joint‘Committee who' are members of the committee entitled to iill such vacancy may designate a` member of such committee to serve until his successor is chosen by stich committee, and (2) in the case ot ta yacancy after the eiplratiou of a Con- [ gress which would be titled by the Committee on Ways. and Means, the members of snch committee. who are continuing to serve as members of the Joint Committee may designate a person who, immediately prior to such expiration, was 1 member of such committee-and who is re·elected· to the House of Representatives, to serve until his successor iis chosen by such committee. ¤ j · _ . (c) It shall be the_duty of the Joint Committee-- ` (1) To investigate the operation and eEect of the Federal " system of internal-revenue taxes; [ _. _ “ . (2) To investlgatelthe administration of such taxes by the Bureau of Internal Revermea or any executive department, establishmeut, or ageilcyycharged with their administration; ` (3) To make » each other investlgationeiin respect- of such system of taxes as the Joint Committee may deem necessary; — (4) To investigate measures and methods for the simplification of such taxes, particularly the income tax; ·_ t ‘ (5) To publish, from éme to time, for public examination aadjtnalysis, proifosed measures and methods for the simplification of snicb taxes, and t_o make to the &rmte aud, the House of Represehtatlres, not later than December 31, 1922*, A definite report thereon, together. with such recommentlatione as it may deem advlsable;_gnd ` _ ° - ‘ (6) To, report, from time to time, to the Committee on Finance ‘_“’ andthe Committee on Ways and Means end, in itsdiscretion, to.the Senate or the House of Repreeentativee, or both, the results of its inyestlgations, together with such recgommendatiohs as it may deem advieal5le.` ‘ _ J ‘ M to; true Joi¤t»Committee emu have the Same mem m oat. tain data and to inspect returns as the·Committee on. Ways and
