Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1866-11-12
ABSTRACT OF THE ANNUAL INCOME TAX
EVILS OF NEGLECT TO MAKE o OR VERIFY
N

RNUIa nR HRn n TN hAKK nnI nh WIKI II
~ -,rvwrSTs
.on nanisn,. Nv refps.s 10 render a
wst,,.n synan, ,he S..istant Assessor Ia re-.
oucs,cd 70 Am oui "a blank with such persons
nam. nnI ,axahIe Incomr estimated according to
tLe best inforlpa,,ou that can be obtained, and
upon this estimated income ID assess the tax, and
then 10 add % Der cent, 10 such tax a. n penalty
for neglect or refusal.
&, An Assistaut Assessor may be misled in
making this estimate, by being mlsinformrd as 10
money received, or not informed IN TO money
paid, He must assess, however. according to the
best Information within bis reach. The only per.
son capable of giving absolutely correct iuforma.
ton IA frequently the one who refuse or neslects
10 make n statement. II such person will not
take thtftrouble 10 inform the AssIstant Assessor,
there ID a bar to all 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 Gro.
neuus, Il ia ALWAYS troublesome TO the party In
t.res,ed IN have II corrected All persons, there.
fore, but sspecfaAy sueh az hape no taxable income,
should not fail to render the required statement,
upon the proper blank, 40 as TO avoid undue tax.
alton and troubled
7. Every statement ust be verified by oath or
affirmation. When this II not done, the Assistant
Assessor Ia reoutred 10 estimate the income and
10 add D, nsr cav, % 20 ths taY
Evils or wIpIyn A pIIsE STATEMENT.
9. An Assistant Assessor has power TO increase
the amount In any statement, after giving duo
inforna,tan = 80 $1,000 Va ~ ro.
ouir,J sI.o ~ adJ In nar cent 10 the tax when
y false statement has been rendered and the
| marty making tho 6aI.s siat,mpnt becomes liable,
not only for this additional tax. but likewise to
| two dIstIuc, nrosecutions before the United States
| Coprts-ons To- rootino a false statement with in.
tent IN d.frana The Govsrnmrnt and the other
for nsrirrv
MiSsrp ~ x.v,So I'D srIrpxysr oy INCOME.
n. ~. ,,o.h -. - ,ha Io,, ,ha Commits.
.,ona. In,..,i 1a,ann. "a annow.rsd ~ nr..
III. ~ -. -. In r,bicb IN. .,a,e.
n,sn, =. InSyn W. : ~. msta mn This n, ha,
- a.., 49,, - r.. H. Ass,,,o,, Az.
Sne ~ a pr.n.eu Jan us1S ~ = -nIInnS III.
sunsoI; q N 'ai.oas 80, haa hsSn No,
MSS","s =" "u" "
scIioSui ,-
!" = M. - &c. aani,aI bovs
suns y une ana y =. .opisA 80
oeen aiviueu mus, 90 Ietufnea sepuIatey- ioS"
IN one not oelhR aiIo"ed 10 ONSET gains IN aho'hsi.
Thus merchant mno enSa6es ~ iaamIns =, ~
speeulations not belonging 70 hs IegiItna.e ous'
ness cannot onset gains IN 'Ho 'n' Oy '0'''' "
nc S IT. ;r.,dsr, N ..oh brsIp.sv 70
deduSuoIe rom az lessipssG tns. -
j. speculu,lTns HSntMS+ay Heions.nS ~
business, ana lneSe ai"nsi niay pe eaiiiuu ,nsU y
pfohi ana loss account mus aTioNet nay sp'.,
uiate In STOCKS ury eoous morennnt III est,on, .
hardware man In ron e!e;, ana sueh specuia'lon
may "he'' u =" . 80 A.,
business. A merchant also may MAKE or 1850 oy
exchange or the kind OF money paid ior ms mer
chandise. and tins gain or loss belongs 10 MS mer,
chandise account. But II pc buys gold, uncurren'
money, United states treasury notes or any
other thing not one OF the articles OF trade belong,
ing 10 ms regular ousiness' - u puiPoSe =
speculation, the proht or loss rom such specnla
ton wilino DC Aiowedl 70 aneet ihe PLont " aosi
from his regular business. a business hrn
placed s4O,OoO in the hands OF q Q YORK pro,
ker' ths'ruci'ns nim W Wv " IN 'uo
sale OF gold, on their account; and having los,
ss7,2Oo IN TINS venture, tney e!hiniea .nni u
should De deducted ron lhsir pronts III business
Commissioner LOWS dssiiowed 'ne e'aini, hho
said the UNIFORM rulihs nau oeen Ihh' hsn :
loss Is made In any paitieuiar ousineSs, agnns
which there are no gains TO offset, II ~ conSiu
cred a dead loss q capital iHpesfed IN thdt oIst
ness Again, loss OF capitai cannot DO de
Quoted from Income Return OF Income mus
be made on the gains"
4. How far different KINDS OF business must OK
returned separately Is shoWn oy tue FOLLOWING