Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1894-12-20

Washington, Dee. 1.-The secretary
Of the treasury has approved the reg
ulations prescribed by the commits
siOncr of internal revenues for the eE-
forctmcnt of the collection of the in
der the regulations every citizen of the
United States whether residing at
home or abroad, and every person re-
siding or doing business in the United
States who has an annual income Of
more than $500, shall make full re-
turn of the same, verified by his oath,
to the collector of internal revenue of
the collection district in which he re-
sides, or if not a resident, in which
his business or property from which
the income is received is situated, Oil
or before The first Monday in March
of each year. The first return shall be
made on or before the first Monday in
March 1898, and shall include all IN
come from every source, received in
the year 1891. Guardians, trustees
and all persons and corporations act
ing in any fiduciary capacity are re-
Quired to make similar returns for ali
Minors wards or beneticiarieS. An af
fdayit to be attached to the list must
be subscribed and sworn to by the per-
son making the return, and to the
effect that the affidavit included i'll the
said return contains all gains, profits
and incomes from every source what
ever received by him, or to which be
was justly entitled for that year and
that he was honestly and truly entitled
to make all deductions entered on his
return and he truly answered the in
terrogatOrieS set forth on said blank
form. When completed and duly veri-
fed by the oath of the person render
ing the same, the return must be de-
livered by mail or otherwise to the col
lectOr at any time between the first
day of January, and the first Monday
in March in each year. The gross
gains, profits and income returned by
persons shall include:
1.-GrosS profits in any trade, bust
ness or vocation, wherever carried on.
Rents, received or accrued dur
ing the year
3.-PrOfits from sales of real estate
1. Farming operations and pro
ceedS
3 Money and value Of al personal
property acquired by gift or inherit
ance
G-Premium on bonds, stocks, notes
and coupons.
7-Income from trade or profession
"a
fore enumerated.
S.-FrOm salary or compensation 9th
or than that received from the United
States.
.. Undivided gains and profits of
any partnership.
1O.-Intcrest received or accrued
from all notes, bonds or other securi-
ties.
11-Interest on bonds or coupons
paid of any corporation.
l2-Dividends from corporations.
13.-Income of wife or minor child or
children.
14.-All other sources of income rot
above enumerated.
Deductions allowed on the return
and therein enumerated are:
Flour thousand dollars exempt by
law.
2.-lnterest due and paid within a
year.
3-National, state. county, school
and municipal taxes paid, not includ-
ing assessments for local benefits.
4.-Amount expended in purchase or
production of live stock or produce
sold within a year.
5-NeceSSary expenses specified
by items. actually incurred in carrying
on any business or trade.
6.-I oSSes actually sustained during
the year, specified.
Actual losses on sales Of real eS-
tate purchased within two years.
S.-Dcbts contracted and ascertained
in the year to be worthless.
9-Salary or compensation over fOul
thousand dollars of which Il tax of two
per centum is withheld by the diSburs
ing officers of the United States gov
erumert.
10-Dividends included in estimate
of GROSS profits from corporations on
which ten per cent. tax is paid by such
corporation.
In the case of non-residents the re-
turn must be made and filed i'll the
manner proclaimed for residents and
if not so filed. the collector must make
a return for the nonresident, making
40 allowance for exemption. If an!
person fails to make
return in the manner and time pro
vided by law or makes Il false 0
fraudulent return the collector sbal
make the return from evidence oh
tanned by summoning persons and eS
aiming his books. and from all othe
evidence obtainable and shall add
per cent to the amount OF tax foun
due as n penalty in case of refusal o
neglect to make the return, and on
hundred per cent, penalty in case o
false or fraudulent ret Irn. Penaltle
and interest will be added after motto
to the party and a full hearing, if Sue
be desired by him. All corporations
companies and aSsocia tons. both res
dent and foreign, doing business fC
an annual return of all net prof
above the business and operating g,
penseS on separate blank prepare
for them. and when duly verified b
oath of the president or other chic
officer of such corporation, the retul
must be delivered to the collector {
or before the first Monday in March