1925 BTA LEXIS 1989 | B.T.A. | 1925
Lead Opinion
OPINION.
Section 221 (a) of the Revenue Act of 1918 provides that “returns shall be made on or before the fifteenth day of the third month following the close of the fiscal year,” which, in the instant case, would fix the due date of the return as September 15, 1919, the fiscal year of the taxpayer having ended on June 30, 1919. Section 277 (a) (2) of the Revenue Act of 1924 provides that the “income, excess-profits, and war-profits taxes imposed by * * * the Revenue Act of 1918, and by * * * such Act as amended,
The Commissioner in his answer admits that for the fiscal year ended June 30, 1921, there was improperly included in income interest from United States obligations in the amount of $140.53, resulting in an overstatement of the tax in the amount of $14.05.