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An Analysis Of The Taxation Of Stock Dividends From 1918 To 1970; Effects Of The Tax Reform Act Of 1969 On § 305 Of The Internal Revenue Code, Harvey J. Eger
An Analysis Of The Taxation Of Stock Dividends From 1918 To 1970; Effects Of The Tax Reform Act Of 1969 On § 305 Of The Internal Revenue Code, Harvey J. Eger
Duquesne Law Review
On December 10, 1969, the most massive and controversial piece of tax legislation ever proposed was enacted by Congress. One small portion of this act, § 421, has substantially altered the tax status of stock dividends by amending § 305 of the Internal Revenue Code of 1954. As a result, § 305 now covers a wide variety of situations where the receipt of stock dividends previously nontaxable will give rise to income taxable at ordinary rates.