Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-05-19
.nsrp .rr ~ rHE ANNUAL INCOME TAx
ANNUAL INCOME TAx.

."#H AVN
an .b,tr,ct
Having been requesteo W pS.rnnco 70 thn In.
Of what Ii required ~ ~" -. 10 tba nenart.
come Tax, and OF INC oeSlsions ss,on. ,h.,
ment at washington upon var,oTs gus,.c, nnd.r
nav, arisep, we present the Wnoio suHJeef NAN
IT, ssveral distinct heads:
SHOULD BE MADE-wHERE, wHEs'
AND BY WHOM. ~
Thu law REQUIRES every person OF ase,
r..idinS In the limited States, to render 10 'no
H..Is,ant A.ss,.or Of the sub-dIstTict In which nc
oHsh. 80 \. rss,dIno ON the LIST day OF Nay, o
" y may smsn, according TO a prescribed
wnIten ssaeM m ~ III a. bsr income, gains
form, OF tne anlount n " year. from Jan.
- p,on,s uniLhB = IL, ho,h daya inclusive.
:. - 70 DsSesm ali. form can be OBJ.
taipad co. jail NJ a".is.nn, s.se.sor. A person
ha.Sn. - ~ tno nsa .hnnId make q state.
In, . resiuIu.o, hannsn N be: and,
~ nn." ~ romav" jig u = dI.trtet should take
~ aNa !, W ano.ne. - how any
aSIea eoPy y. suen MSa a,hsr,viss might
- . .aaond ..na.sn"U, "N
ma 10 no sesonu asses'men. ~, ar he.
: ING s.asemens must 20 Ienaelea arsY
IoIe = . LAY :. Ss!.ol w w. - hoen
2 wristen or printea honce recurring ", -. ~ H..
Ieit w u Piaeo VI estIen.e
positea IN inc peares. rost omee. On,
.no annuai nneome q - pasnors,Ion
andll CANNOT DO nssesse1 uBunsI ny SoIPoL Ndi
company OF partnersnp, as sueh hVcty I
yiduai member must MAKE . staIement OF am ~
ner AnAto Oh OF iu'eies.n y sALns S"S IT, .nd
profits are divided or not, and must also state
separately bis or her income from all other
sources.
EVILS OF NEGLECT TO MAKE OUT OR VERIFY
STATEMENTS.
vr,,,.n s,otomsn, ths Is.I,tant Assessor ia re.
quested to gil out q blank with such persons
name, and taxable income estimated according 10
the best Information that can be obtnin-d, anc
upon this estimated income to Assess tle tax, and
then to add IS per cent, 10 such tax ns q penalty
for neglect or refusal.
6. An Assistant Assessor may b. misled IN
making this estimate, by being misiniormcd hsto
money received, or not informed a. 20 money
paid. He must assess, however, according 20 i1e
best Information within his reach. The only per.
son capable Of giving absolutely correct iniouna.
ton Is frequently the one who refufs' o. nrgiec's
to make q statement. II such ptvson viii not
take the trouble to inform the Assi,tHEt Assessor.
there Is a bar to oil complaint, should the assess.
ment prove incorrect, and q heavier tax be levied
than would otherwise DO charged. Moreover,
after an assessment has once been made, II erro
neOus, II Is always troublesome to the party In.
terested to have Il corrected. AL persons. there.
fore, but espeetdty sIeh az hare no td1dbk income,
should not fall to render the required statement,
upon the proper blank, 80 as TO avoid undue tar.
alton and trouble.
Z, Every statement must be verified by oath or
affirmation. When this Is not done, tho Assistant
Assessor IA required to estimate the income and
to add 25 per cent. to to the tax.
EVILS OF MAKING 4 FALSE STATEMENT.
O An A~ssistant Asseasor has mower 10 fncyed,s
the amount In any statement, after giving duo
Information to the party interested. He Is re.
ouired, also. 10 add loo per cent, 10 the tax when
q false statement has been rendered and the
marty making tba false statamsnt becomes lI6bI.
no, onjv ~ ,hIs addI,ionsI ,,S brt iJrsvSIs. 20
two djstInct nrosecutjons h.forc the IInItrd States
conrts"ons for mskino a Ssisc s,a,,nsn, Viii in.
tsnt 70 defSand the Gov,prncnt and N, other
for neriury'
MIySER or MAKING up STATEMENT OF INCOME.
Nv tb. 18th section of the law. tho CoumI5.
soner Of Internal Revenue Ia empowered 10 pre-.
scribe the form and mqHaer In which the state.
ment Of income must be made up, This AZ rss
done in a printed blapk used by Ia A,Isilpt A..
sdssor. and in ya1ou, circular. and rulings, The
following Ia a SUMMARY OF what has been pre-.
scribed:
\ i, Each Of the great classes into which the pur.
suits Of life and tho Investments Of capital have
been divided must DO returned sepdrdtsly- losses
In one not being allowed to otYsst gains In another.
Thus a merchant who engages IN farming or In
REGULATION mot belonging 10 his legitimate bust.
nss. cannot Offset gains In the one by lose. In
,Ss o.hnr s1A' !" "' A
- o Ths .,nsn,ss incident IN zach busIn.s, ~,
d.duc,Ible from the receipts Of that business,
q SpeculatIons k9itinratsIy belonging TO any
business, and these alone, may be carried into liz
profit and loss account. Thus Q broker may spec.
I ulatc In stocks, o dry goods merchant In cotton. q
I hardware man in iron, etc, and sueh speculation
may affect the gain and loss Of sueh legitimate
business. A merchant also may make or lose by
exchange or the kind Of money paid for bis mer
chandise. and this paln or loss belopRs 10 his mer.
chandI,e account. But n be buys RoId, uncurren,
|, money. United States Treasury notes. or any
other thing not one ofthe articles OF trade belong
inc 10 Iii regular butlnrss, for The purpose o,
, speculation, the profit or loss from such speeula.