Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-07-20
aBsrRsaAsSaftoo u rHB 4SSau1ti INCOME TAX
1NNU1LTNGOmETA

: sHESins bedd reqqeutsd 70 prepare an -abstrast
como Tag. and of tho decisions BY the Depart!
ment ct Washington upon various questions that
,havS Arisen we present tho whole subject, under
It's several distinct heads; 4e at 81
STATEMENT sHouLD ,RE ,MADE--wHERx, WHEN,
x. ~ h s fsr 4 ia a afsss srsf yf person ., ID All age
reading In the United States, to render to tho
AsTstsnt Assessor Of tho sub-dlstr.ct In which he
or aho may be residing on tho LIST day OF May, q
Uritteh statement, according to-a prescribed
form, Of tho amount Of his or her income, gains
md profits during the previous year, from Jan,
nary'ist 70, December 3lst. DO b days inclusive.
Tnffuted blank containing this form can be OBJ.
tained from the. Assistant ASSESSOR. A person
having no hxed residence, should mako O states
msnt wherever DO Or she may happen 70 DO; and,
In case Of 70 ano.oo, a,ssr,ot - sSnw anv
Other Assistant Assessor. who otherwise might
Q The statement mist DO rendered on or be-
fore tho lat day Of May, o.. within ten days AFTER
d written or printed Iotiee recurring ", nAs us ~
nositedIn the pearest Post .0f1ce.,, rYrT,.LI
fL3ltTHe annual income tax 10 Atpefsonal tax,
and II cannot DO assessed against any corporation,
company, Or partnership, as sucn. every mar
yiduL member must make Q statement OF nus "
her share Of or interest 10 the gains ana pronls %
HuC0 COm0RQyN GtCst.
profits arc divided. or not and must also state
separately his or her income from all olncf
aources. +a-.sH-s --a
Evils OF L TO MAKE OUT OR VERIFY
-" lHFIt STATEMENTS. t.@sH ~
4 II INV PEARSON neglects or refuses to render q
written statement, the Assistant Assessor Is re.
IaueJted TO all out q blank With such persons
name. and taxable income estiinhted according 10
the best Information that can DO obtained, ana
upon this estimated income 10 assess the tax, ana
then to add 25 per cent, 10 sucn tax asa PenAi'y
| for neglect or refusal -
a A Assistant ASSESSOR may DO misled In
making this estimate, by being mlsinformed as 70
money received, or mot informed rs 70 money
paid He must assess, however, according 70 tne
beitinformatlon within his reach. The only per-.
| SON capable Of giving absolutely correct informa'
tion IA freouSnty the one who refuses or neglects
10 mako q statement. II such person VIII NOT
Ale the trouble TO inform tho Assistant Assessor
there Il d bar 70 all complaint, should the assess,
ment prove incorrect, and q heavier tax DO levied
than wouid otherwise be charged Moreover.
after an assessment has once been made, II GIRO
ueous, II n always troublesome 10 the party In
terested TO haveit corrected. All persons. there
fore, bur especially suck a. hare no TAXABLE tneone'
should not Fall 10 render the required statement,i
npon the proper blank, so as to avoid undue AK
Rti6n ahdtrouble.
~ Every statement must DO verified by odth or
aGrmaiioa. Whom this Is not done, the Assistant!
| Assessor Is required TO estimate the Income and
to add 25 per cent. 70 10 the tax q .,
EVILS OF MlkiSG A FALSE bn5
y. AN Assis.ans nssesso, no, p"r.r giving dne
information to the party Interested; He is re-
! ouIrcd, also, to add 100 per cent. TO the tax whep
q false statement has been rendered ana tne
| party making the false statement becomes Liable,
not only FOL, TINS addltlonai ta., oII S,a,SS
two distinct prosecutions eeiore tne onIssa III S vs.
| Courts-onc for making false statement WIN M
| IN, N dsfrand the Government, and the other
for perjury . :. u
| MANNER OF MAKING UP STATEMENT OF dNCoah-
BY the 18th section OF the law, the Commls.
Iioner Of Internal Revenue Is empowers TO pre-
| soribe the form and manner In which the state.
| mani ofincoms must DO made mp, This Lie has
\ done in 4 printed blank used by tho Assistant As
SCISSOR, and In VARIOUS circulars and rulings. The
\ following Is q summary Of what has been pre-
scribed; .
/. Each Of the great CLASSES into which the pnr,
suits Of life and the investments OF capitai nase
been divided must oe, returned ssparHay- Iosses
In one mot being allowed 10 Offset gains In another.
Thus q merchant who engages In farming or IN
Ipeculations not belonging to hislesitinate ousi'
meas cannot offset gains In the one oy losses III
. The expenses incident to each business re
dsduenolo from the reeetpts o. snat business 10
3. SPeculations IeS,tt|dtety belonging 70 any
business eno tnese aione. nay $780,
psort and loss aceount. .husA Trokel may spe.,
piats N s.9csS' = u 12oS S e.s and .aeS speeuiatiop
tnAidwal w ~ : ~ II H.. ~ I'm fc9itInnte
may AFFECT ,he gain ana oss OF ssen ISsnln1 I've
buiine.s' A%sfeasns also may ma MAKE 90 OF 10 ,Gs0 1 Sy
c1nnanGf suniICtssys 49, :, = III msr.
ehan9ise, . ,ns e M, ~ hs hrrs coId nncnIrent
cnanaise neSonaI s,a,ss Trsssnrv no,esl or INV
other thing not one o. ins Articles o. race oe,0n =,
Ing 70 ms lSguias IT,. ~ az K @.pscn,s.
speeulanon, ,ne g,on. = |, sy 49, ~. nroa, ~ IN.
uon-" inosoo nns,~.ss hnsIne.s Arm
ION ~ IN M u ,Ss hsnds NJ n Nav York bro.
Pisegu rnctIng him 10 use Il in The purchase and
ker, Iiaoar - t,hsttS Sccount. and having lost
s snn M. Sa SO'u ,hys rsu,,re thsy claimed that II
y1tSrS.m no,sS 1som ,bsir nroSis In bnsIn.xs.
LsnouII o1 TsS;. dt;siSoyteS IND claim. and
.,iina Rad hs.n ,bat I" y hen a
sMu = ArvT." ns,,Lon,ar hrsjne.. araIns,
W. 49, - ny gs,ns 10 oa.sI II =, eonIid.
wniSn i.nJ ... .1nSsri Snrs,tsS IN ia, ba,i.
elea . = ..yoss ~ cani,si cannot bs, AZ.
aes.r, AsAn, 1870 tRs,nrn ~ incoms INNS,
seessS aH ron or tSS aaia,n :" -
% ms1o ~ No., L,nd, ~ bp.Insss must. n.
:. how !. arnt =. .ho.n bv The Solioy,ine
rsiSrnso ssp nm,Sao n,r P o,IIn, "o
~ ~ ~ ~ 800 n INV nrosseution of opr
,a."Loss incuIIea VIC pnv,S Ssou, Ua,n IN
" ~ ouAnsssS " vy,g.. ,sSsssss ~ Tron
oT IstS ,s o., ~ sIviSsnds s,e'"
saiaLS' .snlh ,Ns ! ~ ~. ,ro,..r,io, IL ~.
losses inculIcu tne 1850 ~ nn,r
6roneA q. business SAnhos oe eeaue'eu uom sIp
Ia nnothefi since an .aosoiutel oss incurred " ~
prosecution OF asingie business " m"speu""
la loss Of capital"
l.. iel-"Loues, In mcrchandise can DO deducted
nsrt,sniar SrancSes Of merchandisc need not be
separated SO In spceulatlon. the loss or gain
from ltocks may otfiet loss or gain from produce
,rC0-"Msrchanp must make return Of thelr
profits from merchandise without regard 70 their
losses In speculation, or gains from interest, divi'
dends, rents, or sny other source"
from ,aisrs.s' nor from gains In msrchandise
When losses are sustained In one speculation and
gains, made In another, speculation, such losses
4 nav be deducted from such gains Losses In one
} branch Of merchandise, may DO deducted from
gains in any other branch Of merchanaise
y0-"Whers stocks etc, arc bought as a per.
msneht Investment and sold again merely"tc
change the inyestment, q loss sustained In the
Il feie nav be- .dedncted! from tho dividends from
Sre1 stoei. But Nnefe the purchase Is made for
the purpose Of, selling again on speculation, the
loss sustained BY the sale cannot DO deducted
i from dividends, but nay be deducted from gains
derived from inc SHre@a''a ana 'dN Oh ''0ek N'f e'e'''
IuHnMR FROM RHtTS OH BUILDINQS..# HAH