1954 House Report No 1337 & Senate Report No 1622

Date of Download: Dec 26, 2001
USCCAN (U.S. Code Congressional and Administrative News)
H.R. REP. 83-1337
Copr. © West 2001 No Claim to Orig. U.S. Govt. Works
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(Cite as: H.R. REP. 83-1337)
H.R. Rep. No. 1337, 83RD Cong., 2ND Sess. 1954,

1954 U.S.C.C.A.N. 4017, 1954 WL 6063 (Leg.Hist.)
H.R. Rep. No. 1337, 83rd Cong., 2nd Sess. 1954
1954 USCC&AN 4017 P.L. 83-591,

INTERNAL REVENUE CODE OF 1954
HOUSE REPORT NO. 83-1337

 

*4017 House Committee Report Page Ways and Means Committee Report ...................... 4019 Detailed Discussion of Technical Provisions of the Bill .. 4137 Minority Views ........................................... 4594 This Report was prepared by the House Committee on Ways and Means to accompany H.R. 8300 "A Bill to Revise the Internal Revenue Laws of the United States". It is being supplied you, herewith, in advance of the Bill, so that United States Code Congressional and Administrative News readers may acquaint themselves with the proposed changes in the Revenue Laws.

 

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*4155 SUBCHAPTER B-COMPUTATION OF TAXABLE INCOME
PART I-DEFINITIONS

§ 61. Gross income defined
This section corresponds to section 22(a) of the 1939 Code. While the language in existing section 22(a) has been simplified, the all-inclusive nature of statutory gross income has not been affected  thereby. Section 61 (a) is as broad in scope as section 22(a). Section 61(a) provides that gross income includes "all income from whatever source derived." This definition is based upon the 16th Amendment and the word "income" is used in its constitutional sense. Therefore, although the section 22(a) phrase "in whatever form paid" has been eliminated, statutory gross income will continue to include income realized in any form. Likewise, no change is effected by the elimination of the specific reference to compensation of the President and judges of courts of the United States, and the compensation of such individuals will continue to be taxed in the same manner as that of other taxpayers. In view of the fact that certain types of income are excluded from gross income by other sections of the income tax subtitle of the new code, section 61(a) contains a clause excepting such income from the general definition of gross income. After the general definition there has been included, for purposes of illustration, an enumeration of 15 of the more common items constituting gross income. It is made clear, however, that gross income is not limited to those items enumerated. Thus, an item not named specifically in paragraphs (1) through (15) of section 61(a) will nevertheless constitute gross income if it falls within the general definition in section 61(a).