Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-02-04
ABSTRACT osiraEAsNuAt INCOME TAX
-WNUHL D TAXs

ABSTRACT ofiraElAsNuAi INCOME TAX
NCOMR TAx.
Having bean requested 70 prepare an abstract
Of what d required BY law % r~sisreaes to the In
come Tar. and Of ths dsc3hous BY the Depart
ment a washtngSou upon various questions that
have arisen. We pressnt the whole subject. under
is ssYerL distinct heads:
srkSEansr sno1tp px .MApEAwuSRr, waRN,
AND By WHOM.
1. The Lave eqares svsry person oflawful age,
residing Ia The United State, to render to the
or abe may Be- residing on the LIST day Of Nay, .
written statement, according to . prescribed
form, Of tho amount Of his or nor income, gains
Andptohts during the prevtous ycsr. hon jan.
uiry LIST 70 December 3lst, both days inclusive
A printed blank containing this form can be OBJ
tanned nom the Assistant Assessor. A person
having no Ard rsAdencN should make . state
ment wherever he or she may happen TO Be: and.
In case Of removA TO another district, should take
. certified copy Of such stAtemsnt TO show any
onsf Assfsssnt Assessor, who otherwise might
make Q second assessment
fora The LIST day Of Nay, or within ten days aftsr
written or printed notice requiring II. has bcen
let az ths place ofrcxdenee or of business, or do
posited In the peArest Post Once.
The n1uAl income tEx % a'pcrsouh tax.
ardts eatnSsbs nssessed against any corporation,
company, Or ipxxtnsrshlp, ~ such Every indi-
vduGmembes must mako = stAtsmentof nn or
her shNe Of or interestn the gains and Pronn or
nah COMPANY, eto, whether such gains add
proAtr 40 dfvtded or NOT and musf afo stats
separately bis or her income from all other
sourceA
STATEMENTS
1870. 60 r.nA.r .
written statement. the Asslstant Assessor Il re-
questsd 70 al out . blank with saeh persons
name, andtaIaofe income esumateda according to
the best Information that can DO obtained, and
upon this estimated income to assess the tax. and
then 70 add2 IS per cont 70 such tAx asa penalty
& An Assistant Assessor may Be, inhaled in
making this sxtimats, BY being mIinformed a. TO
money reesfved. or not informed o. to money,
paid BE must ssess. hoveyer. according 70 the
bsst Information within his reach. The only per
son capable Of giving absolutely correct informaI
tiou 10 frequently the one who refuses or neglccts
TO make . statement n such person will not
take the trouble to inform the Assistant Assessor.
there ID Q bar to all complaint. should the assess
msut prove incorrect and . heavier tar BE- levied
than would otherwise be charged. Moreover,
after IN assessment has once been made, II erro
neSuL Il u Always troublesome 10 the party In.
terusfed 10 have ft corrected AL personS there
fors, but especially sseA a. Aare no taraos faeons.
should mes tll 70 rsnaer tne requlrsd ststemen''
upon ne proper blank. 80 ~ 70 AVOID undue tax
alton and uoaoiet
sEr~Asien. When this Ia not done, the Assistant
Assessor u required TO estimate the income and
10 add IS Per cont 70 10 the tar
Evils OF MAKING a FALSE STATEMENT.
9. An Assfstsnt Assessor has power TO ~inereass
the amount In any statement, amer giving duo
.sssIS ~ ~ IN - -, 10 The Tar when
ss~tay,r .,.t.m.., ~. hs.n randsred and the
-. 49, ~ 80. s,a,smsn, haconna, IIabl.
M, oni, for ,sis sddI,ionI ,aI, but likewise TO
nos ny ason. 60. ths Irnitrd STATE.
a. s,as.nsnt vith In.
CouIn-oue y = 80 IN. o,h.,
sens = oa~uu 's
u.ovr
hASSkS OF MAKING or srArhfo' ~
By the llsth section OF the law, the Commis-
sdonsr Of Internal Revenue Is empowered to pro
scribe The Jera and msaasr In which the state
ment OF income must be made up. This he has
dorsfn = printed blank used BY the Assistant As
SCISSOR. and IN vxlous circulars and rulings Tho
following u q summEy Of what hU been pre-.
scrtbed:
4 Each Of the great classes into which the pur.
xuits of ffe md hs tnveutmeuts Of capital have
ben divided must be returned separately losses
IN ous mot being Allow "a TO onset gains In another.
Thus . merchant who engages In farming or In
spsenlAuons not belon cling to his legitimate bust.
ned cannot otsst gains In the one by losses in
NE etaer.
Ins eapensss inei1ent 70 cAea oasiuess "'
deductole nom me ressipc OF taHt GUINNESS
spsculahons LSnna1eS belonging 20 any
eeslnses, rnd tnese atonc; nay 2 eslriea ,n.oNs
p,onS ne Ios. soeSuns
@AsssninnS. 80 90 a.S - .nSsris,iont
Au".l ~ y sss,tna,.
may aneet aSo 80. !. -. a. t. hvl
Iu.x"~.s ~. 49, :, mon.v "a To- Nj. mar.
IS.SIS - MI. - a, - hsIonz. 20 M, mar.
cII,s.S, ~, a. ~. IA n,crrsn,
eaan Nm TS.s% s..,s. ar.sSnrx no,ss =, sny
MsS,S,n.Mre ems Mn. ~sr+jci.: Of ,rass belonT.
ous.t ~ nosy.. hn.,... o. ~. nr,ros. =,
ing M "a, =, -. ~ .r,S ,psculs.
speSeo@sMon. - Sis1s 49, y. Ia, q, To-.
Voc nr.,s..s nr.,n..s am
ur-I Snnc ~ 49,, a, |. ~ VIZ No.
placed xfoVVo IN me nAndsS OF new iorAo lo,
Ter, mstrueang am 70 use ~ N tne PnrenAse mo
sale 81 fo'o, q ~ sNoS' = w. ~,
9zIsUo IN - vslseIN wv emeu NLs -
should % dsoaSyed ~ I'LL pl9rss ons
Conmifnonsr Dswn onSlorea voc etan; aoa
80 ssvyrs luhns, 80 ~
loS, m.ae IN any -" ~ ~, !, !, $500
wnioa sney ~ % .s.,.S Z. IL, S.,i.
ere. - w.. ~ s.nit. c.snot he a
..p-rrn a. incoms nn.,i
ouos7o