The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1867-03-14

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D ing. collecting and paying said tax.
HOD to estimate tGr0btc gdtsss-De
, s{scfl0ns 10 BE- made On incOnscs.-Tha
sectiOn one hundred aud seventeen b
, amended by striking ont AL after the a
acting clause and inserting, In lie!
. thereof, the following: That, In cstimat
. Ting the gains, profits and income OF an,
person., thsreshall b incluxled all In
come derived from Interest upon notes
bonds and other securities ofthe unitel
i states: profits realized within the yea
from sales IT real estate purchased with
In the year or within twOycass previou'
to the year for which income h esttsa'
ted; interest received Or eccrucd nkol
all notes, bonds and mortgages, or otheI
forms Of Indebtedness bearing Interest
\ whether paid or not, II good and col
4 lectable, less the interest which has DO.
wear the amount or all premium on
! gold and coupons; this amount Of sales
Olive stock, sugar, wool, butter, cheese,
pork, beef, mutton, or other meats, hay
I and grain, OF. other vegetable or other
productions, being the growth or pro-
lucc Of the estate OF such person, not in
Guiding any part thereof consumed d.
prnfiis .pI incoIne derived from any
source whatever, except the rental val
| le OF affy slf0hfsslea6 Esed or occupied
by any person or BY his family IN his
own right or in the right Of his wife;
and the share Of any person Of the gains
and profits Of all companies, whether In
entitled to the same, Il divided or other.
Wise, except the amount Of Income re
ceived from institutions or corporations
whose officers, rs required by law, with
hold per centum ofthe dividends made
by such institutions, and pay the sAne
to the officer authorized to receive the
same and except that portion of, the
salary or pay received for services In the
civil, military, naval or other service of
the United States, including Senator's
Representatives and Delegates In Con-
gress, from which the tax has been de-
Quoted. And in addition to one tllous-
and dollars exempt from income tax, a.
hereinbef0re provided, all national,
State, county and municipal taxes paid
within the year shall te deducted from
the gains, profits or income Of the person
who las actually paid the same, wheth-
err such person be owner, tenant or mort
gagor; losses actually sustained during
the year arising from fires, shipwreck, or
incurred in trade, and debts ascertained
to be worthless, but excluding all estima-
ted depreciation of values and losses
I'd two years previous to the year for
which income Is estimated; the amount
paid for labor or interest by any
person who rents lands or hires labor to
cultivate land, or who conducts any 9TH
er business from which income is act
ually derived; the amount actually paid
by any person for the rent of the house
nr premises occupied as residence for
or his family the amount paid
out for usual or ordinary repairs; pro-
rided, that no deduction shall be made |
for any amount paid out for new build
ings, permanent Improvements or bet
made to increase the value of
any property or estate: And provided !
further, That only one deduction of
81 900 shall be made from the aggregate
income Of all the members Of any family
composed of one or both parents and
one or more minor children, or husband
and wife; that guardians shall be al
lowed to make such deductions in favor
of each and every ward, except that in
case where two or more wards are COM
prised in one family, and have joint
shall be made in their favor: And pro-
rieied, further, That tn cases where the
salary or other compensation paid to
any person in the employment or SER
vice oil the United States shall not exceed
the rate OFFS, 900 per annuln, or shall be
by fees, or uneei tain or irregular in the
amount or in the time during which the
the same shall have accrued or been
earned, such salary or other compensa-
ton shall be included in estimating the
annual gains, profits Or income Of the
person to whom the same shall have
been paid.
Hom People are to Make Retmns.-
That section lis be amended by strik-
ing out all after the enacting clause aud
inserting, in lieu thereof, the following:
That it shall be the duty Of all persons Of
lawful age to make and render list or
return, on or before the day prescribed
by law, in such form and manner az may
be prescribed by the Commissioned OF
Internal Revenue, to the Assistant AS
SCISSOR of the district in which they re-
side, Of the amount of their income gains
and profits, as aforesaid and all guar
dams and trustees, executors and adj
ministrators, or any person acting in
any other fiduciary capacity, shall make
and render list or return, as aforesaid,
to the Assistant Assessor of the district
in which such person in a fiduciary ca
pacity resides, of the amount Of income,
gains and profits of any minor or per-
son for whom they act and the Assist
ant Assessor shall require every list or
return to be verified by the oath or affir-
nation of the party rendering it, and
may increase the amount of any return
ifhc has reason to believe that the same
is understated; and in case any such
person shall neglect or refuse to make
shall refder raise or retHdnicfy
list or return, it shall be the du-
ty of the Ass ssor or the Assistant
Assessor To make such list according to
the best information he can obtain by
the examination Of such person, or his
books or accounts, or any other evidence,
and to add fifty per centum, as penal
ty, to the amount of the tax due on such
list in all cases Of wilfll neglect or
refusal to make and render list
or return, and, in all cases of false
or fraudulent list or return having been
rendered, to add one hundred per cent.
as a penalty, to the amount of tax ascer-
tained to be due, the tax and the addi-
tons thereto as penalty to be assessed
aud collected in the manner provided
for in other cases Of willful neglect or re-
fusal to render list or return, or of rem
dering a false and fraudulent return:
I'roridcti, That any party, in his or her
own behalf, or as such fiduciary shall be
permitted to declare, under oath or affir-
nation, the form and manner Of which