This book is a comprehensive guide to the Revenue Act of 1971, which was a major overhaul of the federal tax system in the United States. It includes detailed discussions of the relevant statutes, regulations, and committee reports, as well as commentary from the Congressional staff who drafted the legislation. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Excerpt from General Explanation of the Revenue Act of 1971, H. R. 10947, 92d Congress, Public Law 92-178 It was expected that this Act would attain the objectives set forth above by working in cooperation with other governmental actions, in cluding the price control program and other actions taken to improve -our balance of payments and strengthen the dollar abroad. The Act is expected to reduce prior law tax liabilities by about billion in the calendar year 1971, billion in 1972, and billion in 1973. 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.

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Considers H.R. 10947.