Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-08-31
ABSTRACT OF THE ANNUAL INCOME TAI
ANNUAL INCOME TAX.

Having been requested to prepare an aDstrhct
Of what Ia required by law In reference to the In
come Tax, and Of tho decisions by the Depart.
ment at Washington upon various questions that
have arisen. we present tho whole subject, under
It's several distinct heads: ID
STATEMENT SHOULD BE MADE-wHERE, WHEN,
N BY WHOM.
/ The law requires every person oflRwful age,
reading In the United States, to render to the
Assistant Assessor Of the sub.distr.ct In which no
or sho NAV be residing on the LIST day Of May, a
written statement, according to a prescribed
form, of the amount Of his or her income, gains
and profits during the previous year, from Jan.
nary lst 10 December 3lst, both days inclusive.
a printed blank containing this form can be OBJ.
tanned from the Assistant Assessor. A person
having no fixed residence, should make q state
ment wherever he or she may happen to be; and,
In case of removal to another district, should take
a certified copy Of such statement. to show any
other Assistant Assessor, who Otherwise might
make q second assessment 49,.
o The abatement must DO rendered on or be.
fore the lst day Of May, or within ten days after
a written or printed notes requiring 1t, has been
lct NJ the place of residence or Of business, or de.
posted In the pearest Post Office. 2
3, The annual income tax Is u personal tax,
and It cannot be assessed against any corporation
company, or partnership, az such. Every indi'
yidual member must make a statement OF bis or
her share Of or interest In the gains and profits OF
such company, ETC., whether such gains and
profits are divided or not, and must also state
separately his or her income from all other
sources.
EVILS OF NEGLECT TO MAKE OUT OR VERIFY
STATEMENTS.
s. If any person neglects or refuses to render q
written statement, the Assistant Assessor IL re.
quested to fll out q blank with such PERSONS
name, and taxable income estimated according to
the best information that can be obtained, and
upon this estimated income to assess the tax, and
sh.. 80 aII OK N aat1N 70 utNh faY n \ n nannlfv
for neglect or refusal.
6. Al Assistant Assessor may be misled in
making this estimate, by being misinformed M 10
money received, or not Informed as TO money
paid. He must assess, however, according to the
best information within his reach. The only per.
son capable of giving absolutely correct informa'
ton IL frequently the one who refuses or neglects
to make a statement. If such person will not
take the trouble to inform the Assistant Assessor,
there Is q bar to oil complaint, should the assess.
ment prove incorrect, and a heavier tax be levied
than would otherwise be charged. Moreover,
after an assessment has once been made, II erro
neous, II is always troublesome TO the party In.
terested 10 have II corrected. All persons. there.
fore, but especially such as hare no taxable income,
should not fail to render the required statement,
| upon the proper blank, 30 as TO avoid undue tax
alton and troubled
Z. Every statement must be verified by oaih or
Affirmation. When this IL not done. the Assistant
Assessor IN required to estimate the income and
TO add 25 per cent. to to the tax.
EVILS OF MAKING A FALSE STATEMENT.
9. An Assistant Assessor has power TO increase
the amount In any statement, after giving duo
information to the party Interested. He IL re-
quired, also. 10 add 100 per cent. TO the tax when
q false statement has been rendered ana the
party making the ialse statement peeonics Inote'
not only for this additional tax, but likewise to
two distinct prosecutions before the United States
Courts-one for making a false statement win IN.
tent to defraud the Government, ana the other
for perjury.
MANNER )F MAKING UP STATEMENT OF INCOME.
b. the 18th section OF the law, the Commits
siOner of Internal Revenue IN empowered to pre-
scribe the form and manner in which the state
ment Of income must be made up. This he mas
done in n printed blank used by the Assistant rs.
SCISSOR, and In various clrcniars ana ruhhgs. Inc
following II n summary OF whHt mas oeeh pre-
scriOed; ..r,.h ,rr
!. Enen OF the great classes " ~. u pu,
suils 1t ~ VA ,"p anna snpih Ioss.,
oeeh uINiusu nus ~ az spLa Sa n,o,hor
III one not oe,us tn rnr,nirs or n
Ihus y mcrenhnt NV Susas'I ~ i. I h,si
speoulauons hSa oe.onSins W ~ -" hr Iossa" 4,
ness cnnno o"''' B"h' !" '' NV " " "
the other.
ing exPenses n n ~ .Snt husInn.S '"
deaus.ioIe y II iess.Ps.L haIonoinn 30 mn,
d oPeeuiniyns - aoasrJ ;n,o n,
pusiness, nnu nes ao" Th 10y S,orar a snac
pion' anu ioss aeeTuno. u'arohan, IN cn,,nn ),
ulate IN stockf' auIy soouS IN -,
hrdwa man III Hoh, y Z u 'H1se osS,in.n,
may auee' 'nc 6atn u " ~" - IL,
business. meIrnan' nus n"y nTd 60 III" ,noy
eSchanse o. ,"S I'm n"s pam ~, vi, msr
chandise, ana TINS gam OF loss oeiongs 10 ns nei
chahuiSe neg oun. ,as Troa" Uo,os or nm,
money; un,'ea : " ,ho ar,Icia: 81 rad. SsIong
o'"V. '"Ib -. h,si,os. for ,ho nrrnns. n
Ing TO his regular business ior tue PurPose y
speculation, the ptont or Ioss IRON sum sPecuia
/ ton Will mol De AllOWeu 10 hLltC tub pEOut VI