, 1870-07-18

trustees eRAH be allowed to make tho deduc-
,iou In favor Of each ward OF beneficiary, e1-
bepeficiAries comprised in one family, HAVING
joint property interest, only one deduction
shall be made IN their favor.
sxc. 10. And te il further enacatI, Ihat in
addition to the exemptions provided .,Is IN tue
from the gains, profits, and income of any
person all nauonal, State, county, and
municipal taxes paid BY him within
the year, whether such person be
owner, tenant. or mongager; all his losses
dses, foods. thlpwreck, or incurred IN trade.
aud delta ascertaiued to be worthless. bpt e1-
rluaing al estimated depreciation of values;
the smonut Of interest pad during ths ye1r,
and the amount paid for rent Or Labor to cult
Tate lsud, or to conduct any other basiness
frum which income is derived; the amount
paid for the rent Of the house or premises
| occupied a. rcaidence for himself 0. hs
family, and the amount paid cut for
usp2a Ard ordinary repairs. No deduc-
tson shall be made for any amount
] paid out for new buildings, permanent
improvements, or bet,erments made to in
! c1eaee the value Of any property OF estAte-
SEC. IL. Aud be il further enacted, That the
tax hereintefnre provided shall be Assessed
! upon the gaiae, profits, aud income for the
preceding the time for lev.ing aud collecting
raid tas. and sha!l be leried on the lst dag Of
Msrcl, ISL aud 1s72, aud be due and payable
| on or befofe the Soth daE Of April IN esch Of
| SAID years. And in addition to any SUM an
| nually due and ,npaid after the 3osh day of
and demand thereof BY the collector.
there shall be levied and collected, ~ penalty,
| tie sum OF tiye Per centuO on the amouut I'M
| paid, and interest on said amount At the rate
Of one Per celstu1n per month from the time
thc same became due, except from the estates
| nAEAH 3ruAr itYIr tSAr
! Sic. Il. And 'e il }isrsher enacttd, That it
ehail te tue duts Of every pesson Of lawful
aGe. Whose gross income during the preceding
| year ezcs edtd two thousand dollars, TO Make
and render return, OH or before the dsy
! designated hy Law. to the assistant Assessor OF
the district il ~luch lie sesiles, Of tho gross
! amount Of his income. Ealns, a'la profits
as aforesaid: bat not iac!nding tho
amount received from auy corporation
1hoae oficets, aa authorized By la*, Withhold
and pay At taxes per ccntnm OF the divi.
! acn5s made and Of the interest or coupons
paid by such corporation. nor that portion Of
| the Baiary Ur pay received for services in the
| civil, military, naval, or other service OF the
Gnited States, or al senator, Representative,
or Delegate iu Congress- from which tax las
been deducted, nor tha wages of minor chill
dren not received: and every guardian OF
| tr,lstce. executor Of administrator, and any
! rcrron sctirE in any other fiduciaty capacity,
] ur as residens agent for, or co~partner VI, any
nonresident alien. deriving income. gains, and
profits from any business, trade, or pro-
feeeion carried on in the United States,
or from rcuts Of real estate situated
therein, shall make and render u return as
aforesaid to the Assistant Assessor Of the dis
| trict in which he reriEcs. Of the amount O. in
! come, E1lns and profits Of any minor or per-
| sun Tor whom he Acts. The Assi4te' As
scssor sh,ll require every euch return . be
verified by the oath OF the party rendering it,
| apd may increase the amount OF aly return,
after notice to snct, party, II he has reason 10
! believe that the aa,ne Is Undesatated. In case
| any Pen OF having grosa income, as above. Of
| two thoueknd dollars or taoFe, 4l,sl neglect or
| refuse 70 make and render such return, or
| shall render faleo nr fraudulent retasn, the
| Asscbtcr or the Aasietant AsBeeaor shall make
such return, accordiug to tho best informstion
! he can obtain by the examination Of eaid per-
| ron, or uf his tookB or accounts, or by apy
| other evidence, and shall add. a. penalty, to
tie amount Of tax due thereon, 80 ner c.ntum
in all Cases Of wlf,l neglect or refusal to make
! aud render return, and 100 Per centum IN III
cares Of fslse oE fraudulent return having
been rendered, The tax and the addition
thereto as penalty sl1all be assossed and col
| 1ecscd in tho manner provided for in cases Of
Riiful neglect or rellea1 10 render return. Or
Of rendering false or fraudulent return. But
! no penalty Eaall be ASSESSED upon any person
for such neglect or refusal. Or for making or
rendering falec or fraudulent return. usco,,t
after reasonable notice OF the time and
! place Of hearing, to ba regulated Ly .he
[ Commissioner Of Internal Revenue, 10 A. to
give the person charged m opportunity to
| lie heard: f'rordAr{, That no Collector.
| Deputy Collector, Aaaes=or. or Assistant AZ
III sseos shall permit to be published in any mnn-
uer such income returns. Ut any part thereof,
| except such general statistics. not specifying
| the names Of lndviIuals or Trims, as lie may
! make public. under ench rules and regulations
~ tho Commissioner Of Internal Eescnue
stlall prescribe.
| SIC. IS. Ind be il further enactel, That
when tho return Of auy person is increased by
| the Assistant Assessor, s,:ch pcr4on may ex-
i'ibit his books and accounts and be permitted
to prove and declare. under oath, the
! amount Of income liatle to be assessed but
euch oath snd evidence shall not he con
elusive Of the facts, and ITO deductions claimed
! in sucl, cares shall be allowed until approved
by the Assistant Assessor. ANY person may
| appeal from the decision Of the Arsisiaui Ar-
sessor. III such Cases. to the AsAessor OF tile
district, and his decisian thereon, uulesa re-
yereej by the Commissioner Of Internal Rove
nne, el.all lie finAt. The form. time, and man
ner Of the proceedings shall be 6nbjec: 10 Iegu-
1ationh to he prescribed by the Commissioner
Of Internal Keyeuue.
| SEC. II. .iAd BE il further eaacGed, That any
I person. iu Ills OWL bchalf or h. such fisa,.c,a1s
or aeci.t, e1,afl he permitted to .lecl1re, under
oath, that he e.nr hin ward beneficiary OF pfinc-
pal "ee not poss-ered Of MI iucunle af st:,lWsl.
! lia!Ie TO he assessed according to tho pro-
! vissaa.s cf this act: or may declare that an IN
! come tax has been assessesi and paid else-
where il, the same year, under authority of
| The Cnited States, upon his income, gains.
and profile, or those Of f,in ward, beneficiary
or principal, aa REQUIRED By law; aud it the
Aeeissan. Assessor shall be satisfied Of the
| truth Of the declaration, such person shall
thereupon be exempt from income tax iii tile
| said district
SEC. Is. Anal oe il further enactel, Tha:
caisnlr ut foreign governments who ARE nut
citizens Of tho Cnitcd States shall be exempt
may bo derived from their o1icia1 euao1u-
ni soant1iea: y rrcsea @ 'tE lit tue 10 sosefa. se
menss which sucll Coneuls may represent shall
extend eiusllar exemption to conr,lls Of the
Euited Slater.
FEC. 1G. And be il jtrfaer enacted, That
there shall hs' levied aud collected for aud dut-
inE the year 1871, a tax of ~. per centum on
the amount Of al. interest Or coupons paid on
bonds OF other evidences Of debt issued aad
any Of thu corporations III this section herein.
after enumerated, and on the amount of al
dividends OF EARNINGS. income. o.
gains hereafter declared, by Al.
Eauk, t17rt company savings inssitu
t'on, INSURANCE eonrsny, railroad com,
navigation company, and aiackwa.cr company
whenever and wherever the same shall X
payable. and to whatsoever person the samt
may 10 due, including non residents, whether
ris,zens Or aliens, and On all undivided profit.
OF any euch corporation which have accrued
and been earned and atlarti 10 AUS surplus
contingent, or other fund, and every snch cor
poration having paid the tax ~ aforesaid, !:
hereby authorized to deduct and withhold
ts9 any rayment .oa O. a,iso ;fsoaa'
amount Eequal TO the tax Of !.
! r.
1neni to the United States, as provided by law
Of the amount OF tax 60 deducted from tho IL
tczcst, coupons. and dividends Aforesaid. sl,a1
discharge the corporation from any lisb,lit.
for tAst amount OF said interest, coupons, D
dividends, claimed as due to any person, e1
provided otherwise BY an express contract
PForided, That the tar upon The dividends 0
| insurance cou,rxnies shall not he deemed du'
until tnch dividends are parable eiihe1 il
money or otherWise; and that tho money 70
TUNED by mutual lnsu1ance companies TO shei
pol,cy-holde1a, and the anuuai Of acmi-annua
interest allowed or paid to the deposition
in sasinEs banks or savings instatu
tions. shall not be considered ss disl
dends: and that when any dividend is made
any part of tLc surplus or contingent fund O
! 1ny corporation which has been assessed AT
| the tnx raid thereon, or which includes an.
part Of the tli~idends, interest, oE coupons rc
ceiTed from othc1 cosposaaous whose otnccf
. ! arc authorized by Law to Withhold PEI centnn
In the eanle, the amount Of tx1 20 paid Q,
that portion Of tbs surr1us or contingent fnntl
! ! and The amount OF tax which has been witlt
held and paid on dividends. interest, o.
coupons 80 rectiFesl, may be deducted from
' the taz On such dividend or intezcat-
SEC. II. Aadbt u further enocted, That ever
; | refsoR having the care or management Of ~
, CORPORATION liable to be taxed under the 1a=
preceding section, shall make and render t
lie Assessor or Assistant Assessor Of the di.
| .rict in whtch such pefaon has his offca 70
conducting the business Of such corporation
' | on or before the 10Th day OF the mouth fol
/ | uopey BECOME due or pa.Abae "a Aforesaid.
| lat :,