The Weekly Perrysburg journal. [volume] (Perrysburg, O. [Ohio]) 1861-1???, 1867-04-26
TREASURY DEPARTMENT,
OFFICE OF INTERNAL REVENUE,

TREASURY DEPARTMENT,
OFFICE OF INTERNAL REVENUE,
WASHINGTON, March 3, 1867
It's provided by the act ul March = 1867, " that
all acts in relation to the assessment return col
lection and payment of the income tax, special tax
and other annual taxes hcret fore by law required
to be performed in the month of May, shall here
after be performed on the corresponding davs in
the month OF March in each year; all acts required
to be performed in the month Of June in relation to
the collection, return, and payment of said taxes
shall hereafter be performed on the corresponding
days Of the month of April of each year"
All special taxes are to be reckoned, as herelo-
fore, from the first day of May, from the time
Of commencing the business subject to tax, the
first day of May following, although the time Of
assessment is changed as above stated.
1t is also provided that the taxes on income
for the year 1866 shall be levied ON the day this
act takes effect"
The following instructions should be observed
in the assessment of the annual taxes of 1867.
They have been prepared and printed to answer
the questions which have been most frequently
presented by revenue officers, in their letters to
the commissioner.
Particular attention is directed to the modilca-
tion OF the rules obscryedn the last annual assess
ment.
Assessors should instruct their assistants to call
personally upon those who have not returned
their income as required by law. Ifany person
is not at home the notice on the back of form
twenty-iour should be filled out, and the blank
left. This being done, it becomes the duty Of the
taxpayer to seek the assistant assessor and deliver
his return. Z. "A. ROLLINS, Commissioner.
INCOME.
!. Tie farmers profits from sales of live
; took are to be found by deducting from
the gross receipts for animals sold for the
purchase money paid for the same.
2. No deduction can be made by the
farmer for the value of services rendered
L l. .1,ntl ha ,,t IL,
pays fomsuch services or not. If his adult
children work for him and receive compen-
sation for their labor, they are to be re.
gardcd as other hired laborers in determ
ing his income.
3. Money paid for labor, except such as
is used or employed in domestic service, or
in the production of articles consumed in
the family of the producer, may be de-
Quoted.
4. No deduction can be allowed in any
case for the cost of uHpruductive labor.
If house servants are employed portion of
their time in productive labor, such az the
making of butter and cheese for sale pro-
portonate amount of the wages Paid them
may be deducted.
8. Expenses for ditching and clearing
new aud are plainly expenses for perma-
ncnt improvements. and not deductabIe.
g. The whole amount expended for fer
tji2ers applied during the year TO tie farm
el's lands may he deducted, but no deduc-
ton is allowed for fertilizers produced on
the farm. The cost of seed purchased for
sowing or planting may be deducted.
7, farmers will not be required to make
return of produce consumed in their own
immediate families.
&. Ifa person sells timber standing. the
profits are TO be ascertained by estimating
the value of the land after the removal of
the timber, and adding thereto the amount
received for the timber, and from the sum
thas obtained deducting the estimated
value of the land on the first day Of Jan.
uary, 1862, or on the day of purchase, if
purchasd since that date.
9. A farmer should make return of all his
produce sold within the year, but mere
executory contract for sale delivery
either actual or constructive, IS essential.
The criterion by which to judge whether
sac is complete or not is to deter
mine whether the Vender still retains in
that character a right over the property
if the property were lost or destroyed,
upon which of the parties, in the absence of
any other relation between them than that
of vendor and veudee, would fall the loss.
~. Taxpayers frequently Cld'm ueuuC
tions from the losses of depreciation in the
value of stocks or other proI erty Of a like
nature. No deduction can in any case be
allowed for depreciation Of value OF such
property until it is actually disposed OF aud
a loss realized.
III. Costu Of suits and other legal pro-
ceediDgs arising from ordinary business
are to be treated as other expenses OF such
business, aud may be deducted from the
gross profits thereof.