Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-04-11
ABSTRACT OF rHR ANNUAL INCOME rA1
ANNUAL INCOME TAX.

ANNUAL INCOME TAX.
- Il
Having been requested to prepare an abstract
Of what Is required by law In reference to the In.
come lax, ana OF the decisions by the Depart
mrnt At Washington upon various questions that
have arisen. We present the whole subject, under
Its several distinct heads:
STATEMENT SHOULD BIZ MApE-.wHERE. WHEN.
AND BIT WHOM
I Til. Inv rsopir..
I, aiding In the limited states 10 r.ndsr - ~,
Assistant Assessor ofthr sub.distr r. In ,hIch he
or she NAV De residing on the lt day Of NAV a
wr;t,.n abatement. according 10 = nrs.crjhad
Torn NJ ths amount Of bis or bsr ,nopm. a.yr.
end nroat. dnriny tho nrnyious y.ar from Isn'
rarv lst 20 Dacsmber 3fs, bo,b dav. IncIrsIvs
A nyint.d blnnk CONTAINING This form can be oh.
,ain.d now IN. As,I.,,nt a,scs.or n,rsnn
having NO A.ed r..IJrnce, shopId mall. n stata.
mani wherever he or abe NAV hannah Ia b.. and.
In case OF rrmoya 20 another dI,trict should tats
y ..r,ts.d COW =, srcS sts,smsr, - shnv anv
-. a.s,s,ar $500 - a,s.s- ,taS,
o'us' ssis. Nsss, ""e"'
ma a neSo.u
: nc s.a,emen' Y ~ snu.ieu IN
lore ine ist uay .! nAy,or ni'n,n 'ep uxys Sttei
writ.ep y, pFinteo uo'ee Fcquunb "a oeeu
Iei' az tue piaee Oh resiqenes os % ou"ness' ue'
positra N .no rsaies' roS. omee.
ine annunI income q pss"o Un s"A'
and IL eAnnoto DC assessed againsta any gorpora,om'
company, or partnership' a. sneh. Every indi.
her share OF or inierestln tne gains sno Pron.so,
such company, ete', "ne.ner suen snns anu
pIouas Nv n y. ~ - 49, m o,h.r
sources
Evils or NEGLECT TO MAXI OUT OR VERIFY
STATEMENTS.
Z II ANY uerson neglects or refuses TO rcpder a
xri,t.p sf.tem.nt The A.,I,,ant Assessor Ia re-.
ors.,sd N AN on, n bisnL with ,ueh persons
name and taYabls inrom, estimated according 10
ar ~, Intorn.,,on ,hs, can hs oh,aInrd and
rnon ,b,. sst,ma,nd income 10 as,ess The tar and
tSsn 70 sad o5 p.r cent 10 spcb taI ma a penalty
for neglect or refusal.
9. An Assistant Assessor may be misled In
making tnis estimate, oy 9etng mis 4 49, 49,
mo.ey ,ooo''eu'o. ..s.S
paiu. ne uius' assess, no"otoI, No'us
-stiniotmatio Mltnin nls reScn. Inc 1niy Psi'
son eapaole OF SWINE aosolu'eiy SolIee.
non ~ requenty the one "noteiuscs OF neSieets
10 MAKE . sistement: II sucn Petson win mot
lake me trouoiet 70 INFORM tne hssistan, Assessor'
there is a bar to all compliant should the assess.
mrn' prove ineolieei, any y Hea,ie, TAX poieviea
tnan WouIu o'ner"ihe oo enAlseu. moieofer'
atter an asAessnent mas once oeen meoe,n er,o
ne'us,n .iwsys nouoiss'ihs = guy parry
.eres,eu ouAyem eoiI.e'eI. M peispns, 'urie'
tSrs, gu, 'fp sn ,a1n q, sorem .aIaoss ,neom,'
snou'u NOT iaii 10 renaer inc required statemen''
upon the proper blank, so NJ to avoid undue tax
alton sndtronoie,
:. Every statement must be verified oy DATA or
?rr~aron. Mnen thisis no' zone. tne AssS.an,
Assessor Is required 10 estimate the income and
to add y per cent to to the tax.
EVILS OF MAKING A FALSE STATEMENT
0 An Ax.Is,.nt l.se..or has mower IN ine,.a,e
the xmonnt in any statement. after giving due
Information 10 the party intsres,ed. He /. re.
| ouired, Also. TO add 100 Der cent 10 the tax when
= false statement has been rendered and the
party making the false statement becomes liable,
no, onIv FOR mi. additional taY but likewise IN
two distinct prosecution before the limited states
Courts-ono for making a false statement with In.
a., % dsfra,d ,ha Co-y.rnm.n, AVA IN. o,h.r
Tor nsr;pry
AANS.h VI aANi'o VI SiAihAhSi VI iSSonh-
By the llsth section Of the law, the Commits.
sioner Of Internal Revenue Is empowered to pre-.
scribe the form and Manner in which the state.
men, Of income must be made up. This he has
done in a printed blank used BY the Assistant As.
SCISSOR, and In yarioss circulars and rulingE The
following Ia asummary or what has been pre-.
scribed:
l. Each ofthe great classes into which the pur'
suits OF life and the Investments OF capital have
been divided must 90 returned separatsty- losses
In one not being allow ed to Offset gains In another.
Thus a merchant who engages In farming or In
speculations not belonging to hislegitmste ousi.
nesseannot Offset gains In the ono by losses In
the other.
2 The expenses incident to each business are
dcductible nom the receipts OF that business.
3. Speculatlons k~Sttfmdftly belonging to any
business, and these alone. may De carried intoit
profit and loss account. Thusa broker may spec
ulate In STOCKS dry goods merchant IN cetton,a
hardware man IN IRON, e,e, and sLen specniaton
may affect the gain and bss OF sueA legitimate
business. A merchant Also may make or lose oy
efcnange or !ne kind OF money PAD LOT nis mer'
chandise, and this gain or loss belongs 10 MS mer.
chandise account; Butt ne buys soia, uneurrent
money; Unlaea S.s.ss t,,ss.I.y no.s,, o. any
o'ne. NM nv. 70 o..o
Ing to his regular business Tor the purpose OF
.peeulnnon, ,ne Plo u : . soen .peeIis
tlon ",hno. pc aneet u pLons VI aU
ZOE ~ I ~ In uh.e W. Wa ~ ~
PIaeea sfV,voV .
ker, instrus,ing MIN TO use IL IN the purchase and
sac oL Eoa, On men aeeoSnti anu ns'ins ,os.
s21.Sov IN tnis venture, ncy CANNED tnAi "
should DC aeauS'eai oa, = : PIont. ouaness;
Commlssioner Lenis aIsaiS~ea 'ae eimm nnu
sara ,ns tnygI" raunS . oeen tna. rngna
loss y maue a MY p a gu. 'a sSa n
rnien .uoi1 !. ~ ~. " = ~.
erea 2 ~" XY..ns 80. -. ~" - =.
ne's. hsam' lo'S esPNa' Ssnho' oo ue.
ancteaIrom lncome. He'urho' incouo uu"'
De maze on .ne 4a'a. ~
.. HOW thr uluercut kinuh Ol Oublnebb mubt 20