TAXATION: Income Technique

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Commissioner of Internal Revenue Helvering, brand new appointee from Kansas, last week broadcast some news. He said that citizens were rushing to pay past income taxes which they had avoided by "stock sales which were fictitious in fact and not bona fide transactions." With as much threat as reassurance he added: "In cases where the facts are disclosed voluntarily the disposition of the bureau will be to refrain from prosecutions." Two human examples served as scareheads for the alarm. One was Thomas S. Lamont, son of famed Thomas W., like his father...

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