Statistics of Income for 1927

Book excerpt: Excerpt from Statistics of Income for 1927: Compiled From Income-Tax Returns and Including Statistics From Estate-Tax Returns The income-tax returns for 1927 are filed under the provisions of the revenue act of 1926. The year for which the income is reported is in general the calendar year ending December 31, 1927. However, a considerable number of corporation returns and a negligible number of individual returns are filed for a fiscal year other than the calendar year. These returns are tabulated with the calendar year returns for the year in which the greater part of their accounting period falls. Thus, there are included with the returns for the calendar year 1927, returns whose fiscal year ends after June 30, 1927, but not later than June 30, 1928. Fiscal year returns ending in 1928 come partly under the provisions of the revenue act of 1928. The statistics contained in this report are based on the taxpayers' returns as filed, unaudited except for a preliminary examination to insure proper execution of the return. All income-tax returns filed by individuals having net income of and over, and all returns filed by corporations, regardless of the size of net income, pass through the statistical section, and the data are tabulated from each of these returns. A sample of approximately of the returns filed by individuals reporting net income of less than was analyzed, and the data obtained considered as fairly representative of such re turns. The average results from this sample group were applied to the total number of individual returns, showing net income of less than to determine the data as published for these returns. 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.