Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1871-03-24
THE INCOME TAX FOR 1870.
A. SMITH,
One of the Edualizers.


BY the Internal Revenue laws, as
amended in 1870. it is the duty of every
citizen whose gross income last year ex-
ceeded two thousand dollars, to make
and render to the assistant assessor of
the division in which he lives, a return
of this income for taxation on or before
the first day of March. The neglect
to do this leaves it in the power of the
assessor to make a return for him ac-
cording to the best information he can
obtain, and to increase the amount of
tax fifty per cent. as a penalty for the
neglect The duty of making these re-
turns has been very. generally neglected,
under the exDectation that Congress
would abolish the tax, but it is now i'm
probable that anything will be done at
the present session, and in order to
avoid the penalty, citizens cannot be too
prompt in handing in their returns.
The taxable income of each person
is determined by adding together the
following items the gains or profits of
business for the year the wages or saIa-
ry received for services from any gov
ernment. corporation or other employer ;
the rents received from houses or lands !;
the interest on notes, bonds or mort
no security; the profits of speculation
in stocks, bonds or gold, and those OBJ
tained upon the sale of any houses or
lands during the year which had been
purchased within two years preceding +;
and the dividends upon stocks or shares,
except that the dividends of corporations
which have themselves withheld the tax
from stockholders, and paid it to the
= sl5-a mt he included
nor that part of the salary of officers of
the United States from which the tax
has been deducted at the time of pay
ment, nor any pension paid to a soldier
or a sailor.
From the aggregate income as thus
determined, each taxpayer will deduct
the national, state, county and munich
pal taxes paid by him during the year =;
all losses in business, not including any
estimated depreciation OF values the
amount of interest paid during the year ;
the rent of land for cultivation and of
premises for business purposes; and the
wages of labor paid out for business pur-
poses the rent of the house and rooms
occupied as a residence; but not the
rental value, if owned by the taxpayer
himself; and the amount paid for ordi-
nary repairs, but not for permanent i'm
provements.
The remainder of the gross income,
after these deductions are made, consti-
tutes the net income for the year; and
two thousand dollars are further deduc-
ted from this amount. The remainder
is the taxable income, on which a tax
OF two and a-half per cent. is to be
levied and paid. This tax is due and
PAYABLE on or before the thirtieth day of
April next; and a penalty of five per
cent. upon the amount of the tax, and
of interest at the rate of one per cent.
per month, is to be levied for neglect to
make payment at that time, or within
ten davs after the collector shall have
demanded the tax.
The returns of income made this year
are not to be published and the officers
administering the law are required to
keep them secret. Nor is any penalty
to be levied for neglect or error on the
taxpayers part, except after a full op-
portunity is afforded him to be heard,
and to present evidence that he is not
guilty of such neglect or error. But
there is no provision in the law requir-
ing the assessor to demand a return, or
to notify citizens of their obligations to
make returns. Every man is supposed
to know the law, and failure to obey
! it is such a neglect as incurs the penalty
1t will, therefore, be necessary for tax
PAYERS to seek their assistant assessors
at once, and tender to them such state
ment as we have described.-Nea0 K01b
] PaSf