Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-01-28
1910.

United States, or as Senator, Repre-
sentative, or Delegate in Congress
from which tax has been deducted
nor the wages of minor children no
received; and every guardian anC
trustee, executor or administrator
and any person acting in any tiduCiary
/ capacity, or as residents3gent tor or co
/ partner of any nonresident alien, de
irving income, gains and profits from
any business, trade or profession car
ried on in the United States, or from
rents of real estate situated therein
shall make and render q return q,
/ aforesaid to the assistant assessor o
the district in which he resides Of the
amount of income, gains aud profits
of any minor or person Tor whom ht
acts. The assistant assessor shall re
quire every such return to be verified
by the oath Of the party rendering it
and may increase the amount of any
return, after notice to such party, if ht
| mas reason to believe that the same is
understated. In case any person hav.
ing a gross income as above, Of two
thousand dollars or more, shall neglect
/ or refuse to make and render such re.
/ turn, or shall render q false or fTaudu-
lent return, the assessor or the 8ssis,
| taut assessor shall make such return,
according TO the best information be
can obtain by the examination Of said
person, OF Of his books or accounts, OF
by any other evidence, and shall add,
as a penalty, to the amount of the tax
due thereon fifty per centum in all
| cases Of wilful neglect or refusal to
! make and render a return, and
one hundred per centUm in all
cases of false or fraudulent
] return having been rendered.
The tax and the addition thereto as
! penalty shall beassessed and collected
! ia the manner provided for in cases OF
] Wilful neglect or refusal TO render a
/ return, or Of rendering q false or
! fraudulent return. But no penalty
! shall be assessed upon any person for
such neglect or refusal, OF for making
| or rendering a false or fraudu.
lent return, except after rea-
sOnable notice Of the time and
! place Of hearing, to be regulated by
! the Commissioner Of Internal Reve-
nue., so as to give the person charged
an opportunity TO be heard: PrOUided,
| that no collector, deputy collector,
| assessor, or assistant assessor shall
! permit to be published in any man
! ner such income returns, or any part
/ thereof, except such general statistics,
not specifying the names Of jndivid-
uals or firms, as he may make public,
/ under such rules and regulations as
] the Commissioner OF Internal RaVe-
nue. shall prescribe.
Sec. y. And be &c further enacted,
That when the return Of any person
| is increased by the assistant assessor,
such person may exhibit his books
and accounts and Zee permitted to
prove and declare, under oath, the
amount OF income liable to be as
sessgd; but such oath and evidence
shall not be conclusive Of the facts,
and no deductions claimed in
such cases shall be allowed un-
Ill approved by the assistant assessor.
Any person may appeal from the de-
Cisi0u of the assis' ant assessor, in such
cases. to the assessor OF the district,
and his decision thereon, unless re-
versed by the Commissioner of Inter-
nal Revenue, shall be final. The form,
time aud manner Of proceedings shall
be subject TO regulations to be pre-
scribed by the Commissioner Of Inter
nal Revenue.
SEC. I3. Ind BE- e further enacted,
That any person, iB his own behalf or
as such tiduciary or 6geut, shall be
permitted to declare, under oath, that
he or his ward, beneficiary or princi-
pal was not POSSESSED of an income of
two thousand dollars, liable 10 be as
sessed according to the provisions of
this act; or may declare that an income
tax has been assessed and paid else
where in the same year, under author
ity Of the United States, upon his in
come, gains and profits, Or those Of
his ward, beneficiary or principal, as
required by law; and IF the assistant
assessor shall be satisfied Of the truth
Of the declaration, such person shall
thereupOn beeXempt from income tax
in the said district.
SEC. IA. and De q further enacted,
That cOnsUls Of foreign governments,
who are not citizens of the United
States, shall be exempt from any in
come tax imposed by this act which
NAV be derived from their official
emOluments, or from property in
foreign countries; PrOUided, That the
governments which such cOnsUls may
represent shall extend similar eXemp-
tiOns to cOnsuls Of the United States.
Sec. Is. And be q further enacted,
That there shall be levied and collect
ed for and during the year eighteen
hundred and sgveuty-Oue tax of two
and one half per Centum on the
amount Of all inteTe5tOr coupons paid
on bonds OF other evidences Of debt
issued and payable in one or more
years after date, by any of the cOrpOr-
atiOns in this section hereinafter emu
merated, and on the amount of all
dividends of earnings, income, or
gains hereafter declared, by any bank,
trust company, savings Institution,
insurance company, railroad company,
canal company, turnpike company,
canal navigation company, and slack
water company, whenever and Wher-
ever the same shall be payable, and
70 whatsoever person the same may
bedue, including residents, Wheth-
er citizens or aliens, and on all uDdi-
vided profits Of any such corporation
which have accrued and been earned
and added to any surplus, contingent, /
or other fund, and every such cOrpOr-
alton having paid the tax as aforesaid, |
is hereby authorized to deduct and
withhold from any payment on ac-
count of interest, coupons, and dlVi- !
dends an amount equal TO the
tax Of two and One-half per cent.
um on the same; and the pay
ment to the United States, as provided
by law, of the amount OF tax so de-
o.
dividends aforesaid, shall discharge
the corporation from any liability for
that amount of said Interest, coupons, /
or dividends, claimed as due to any
person, except in cases where said
corporations have provided otherwise
by an express contract: PrOUided, |
That the tax upon the dividends Of
insurance companies shall not be
deemed due until such dividends are
payable, either IN money or otherwise;
and that the money returned by mu-
tual insurance companies to their
policy holders, and the annual or
gemi-annual interest allowed or paid !
to the depOsitOTs In savings banks or
savings Institutions, shall not be con-
sidered as dividends; and that when |
any dividend is made, or interest as /
aforesaid a is paid, which includes any
part Of the surplus or contingent fund |
of any corporation which has been |
assessed and the tax paid thereon, or |
which includes any part Of the divi-
dends, interest, or coupons received /
mom other corporations whose officers |
are authorized by law to withhold a
per centum on the same, the amount
Of tax so paid on that portion OF the
surplus or contingent fund, and the |
amount of tax which has been with !
held and paid on dividends, interest, |
or counnns so received. may be de |