Excerpt from Statistics of Income for 1945, Vol. 1: Compiled From Individual Income Tax Returns, Taxable Fiduciary Income Tax Returns, and Gift Tax Returns

Data from the taxable fiduciary returns, Form 1041, for 1945 are presented in the text and basic tables in the second section of this report. Data reported on the fiduciary returns differ In certain respects from that reported on individual returns, Form 1040; nevertheless, the former are classified and presented, insofar as possible, in a manner similar to that used for individual returns. N o composite data for the taxable fiduciary returns and individual returns are submitted. Four historical tables present a resume of data reported on taxable fiduciary returns for 1937 through 1945.

Information from gift tax returns, Form 709, regarding property transferred by gift during 1945 and the tax liability of the donor, Is tabulated In five tables; and the sixth presents a brief summary of gift tax data for each year since June 7, 1932, the effective date of the present period of gift taxation.

No information forestate tax returns is included in this report; the estate tax returns, Form 706, filed during the calendar year 1946, not having been processed by the Statistical Division. Data for estate tax returns filed during 1947 will be included In the report for 1946.

Facsimiles of the 1945 income tax returns, Forms 1040, W - 2, and 1041, as well as the partnership return of income, Form 1065, are inserted at the close of this report. Data reported on the partnership return of income for 1945 will be published in a supplemental report.

In order to facilitate the comparison, from year to year, of the data. Assembled in the historical tables, there is included at the end of this report, a synopsis of Federal tax laws relating to income tax, and to gift tax, setting forth for each of the revenue acts important provisions affecting the comparability of these historical data.

A preliminary report, containing selected data for 1945, was issued July 30, 1948, and a portion of the data in this report was made public in a press release dated June '17, 1949.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.