first return
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 308 U.S. 389 - Haggar Co. v. Helvering · 1940Most cited · 596 citing opinions
First return' thus means a return for the first year in which the taxpayer exercises the privilege of fixing its capital stock value for tax purposes, and includes a timely amended return for that year. A timely amended return is as much a 'first return' for the purpose of fixing the capital stock value in contradistinction to returns for subsequent years, as is a single return filed by the taxpayer for the first tax year.