Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-02-09
efYHg ANNUAL INCOME TAX
ANNGAE INCOMR TAX.

ANNUAL INCOME TAX.
Of what l. required BY law In reference to the In
come Tax, and Of The d~eclsions- by the Depart.
mcnt at Washington upon various questions that
have arisen, weprssent The whole subject, under
Its several distinct heads;
STATEMENT SHOULD BE ~MIpx--wHrRr WHEN.
AND BY WHOM.
!. Tho law requires every person oflsNfnl arc,
residing In the United States, to render 10 he
Assistxnt Assessor of The sub-distre q IN which he
or abe may be residing on the lIt day of Nav, a
written statement, according to \ prescribed
form, Of the amount Of his or her income, gain.
and proass during the previous year, from Jan.
uGy Isl. 70 December 3lst, both days inclusive.
Apftnred blank containing this form can be OBJ.
tanned from the Assistant Assessor A person
having no axsd residence, should make q state.
mcnt whercNSr b or she may happen to be; and,
In case Of removal 10 another district, should taks
Aeeriaed copy Of such statement, to show any
other Assistant Assessor. who otherwise might
make . second assessment
z The statement must be rendered on or be-
fore The lat day Of Nay, or within ten days after
awraeu or printed notice requiring II, has been
leo a ths place Of residenee or of business, or de-
posited In the peAreat Post Once.
1-Ths anRnl income tar 10 q personal tax,
and II cannotb BE- against any corporation.
company, or partnership, as such Every indi-
vtduA member must make = sta,emento of his 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
separsssay his or ner income rom AL othsr
EVILS OF NEGLECT 70 NAxr o oK VERIFY
-LouuerS
"tI.en .'A.smen.. lne nssistAn, assessor rs &c
quesee to.ul SaIs ouank wiz suen persons
name and taxaoie income estimated according 10
the best information that can be obtained, and
upon : snmssee lnsone xS.est YAK, ana
tnen 70 400 per cent 70 suen YAK - penalty
4 An Assi.,ar, Is...,or NAV n. m,,l.S In
making this sstimass, BY being mistnformed A. TO
money received, or not informed as 10 money
paid. He must assesH, however. according to the
best information within his reach. The only per.
son eapAhle Of giving Absolutely correct informa.
ton is frequently the one who refuses or neslects
to make = StAtement. II such person will not
take the trouble to inform the Assistant Assessor,
msnt prove incorrect and . heavier tax be levied
thxu would otherwise be charged. Moreover.
after an hn once been made, II erro
nSus, Il 10 always troublesome 70 the party in
terested TO nave y corrected An persons; tnere-
FORE put ssyeeiaHy steA Seoes no ea1soa ineont'
should mol iAI 10 render the required statement
upon the proper blank. so As to avoid undue tar.
alton and uouoief
2. Every statement must be verified BY GAIA or
sErsatioH. When this Is not done. the Assistant
Assessor 10 required 10 estimate the income and
TO add y per cent to to the tax.
EVILS OF MAKING A FALSE STATEMENT.
or s,, I...o, h.. nowar N i,er,ass
IN. .nonn, IN sny ,,a,smsn, afsr giving due
t,n,rm,t,o, 60 ~. n.r,y tn,s,av,a5 ". IL re.
nnIrsd 40 40 a5s IN mar esnt IN N. tar when
= 49, .,.,.n.., hs. - r.,5.r.d and IN.
narty msiins ths faise s,atrmen, becomes liable,
~, onIx for arr sJd,,ionsI tar snt likewise 10
tvo dj,;;nc, nro..cp,jnnxnrfor The limited States
C.ss.Nan. e. r.st,c = t.I,s .,s,.ment vith In.
~, ~ Ssn.nd tSs G-oy.rnmrnt and th. other
To- n.r,rry
~, -xrvro Al ,xcoxr
AASSkh OF NAMING VI srAfLaANf W iNSoAA
BY the llsth section Of the law, the Commis-
rioner Of Internal Rsyenue 10 empowered TO pre- |
scribs the Jsra and nanasr in which the state
ment Of income must be made up. This be has
donsiu q printed blank used by the Assistant As
SCISSOR, and In vAnozs circulars and rulingA The
following Ia q summary Of what has been pre-
scribed:
L Each Of the great classes into which the pur-
init. N mn. and IA. inyrs,msnts Of capi,al have
han divided must be returned sepdyatsly- losses
In ons moi b-ins allow I'd 70 offss, gsins in another,
Tim. a uarchant who engages in farming or In
.n.cnlstions not belonging 10 bis legitimate bu,l.
ma cannon Offset gains In the one by losses In
he Other. ...
0 Ths expenses incident, 10 each business are
dsduo,ible from the receipts of tina, business
a sn.rnlaton, k0itfna,,ly b,lonpine 10 any
hn,iness and these alone, may be carried into It's
n,oS, and loss account. Thus a broke NAV spec.
ulaie in stocks, a dry goods msrehan, in cs,ton. a
hardva,, nan In iron, exc, and sueA speculation
80 -, m. 1a;. and L,,, Of ,ueA legitimate
hr:in.ss nsncbant alsa NAV male or lose by
ss.hsrr. or ths ind az monsv Maid for hIs mer.
shs.dt.s' ana ,his g.in or los belonrs 20 MI, mer.
sh.nN.s A., o,nt IN, fhe bpys roId, uncurr,nt
mon.y IYnited States Treasury notes. or any
otSsr tsins moi on. OF The article: Of ,rade belong.
a., 40 Nh r.cpl.r bu.inass for the purposa Of
,neouIatiou. the prod, or loss from such Eeeula-