The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-12-14
ALL INCOMES TO COUNT
Approval of the Regulations of
the Commissioner.
CONGRESS MUST DO THE REST.
The Secretary Will Be Ready for
Work Early in the New
Year.

latioDs prescribed by the Commissioner OF
Internal Revenue for the enforcement Of
the collection of the income tax under the
late tariff act. Under the regulations pro-
yided and passed pursuant 10 law.
every citizen of The United States, whether
residing at home or abroad, or doing buSl-
ness in the United States, VINO has an an
nual income Of more than $500, shall
make full return of the same verified by
his oath to the Collector of Internal Rev.
enue of the collection district in which he
resides, or if not resident, in which his
business or the property from which the
income is received, is situated, on or before
the first Monday in March of each year
The first return under the law shall be
made on or before the first Monday in
March, 1895. and shall include all income
from every source received in the year
1894 from the first day of January to the
31st day OF December in said year.
Guardians, trustees and all persons and
corporations acting in any fiduclary capa-
CITY are required to make SINH ar returns
for all minors, wards or beneticiaries for
whom they act. The affidavit attached to
the list must be subscribed and sworn TO
by the person making the return, and is
to the effect that the affiant has included
in said re urns all gains, profits and III
comes from every source whatever re-
ceIved by him, or TO which he is justly en-
titled for that year. and that he is honestly
and truly entitled 10 make all the deduc-
tons entered on his return, and that he
has truly answered the heterogeneous set
forth on said blank form. When COM
pleted aud duly verified by the oath OF the
person rendering the same. the same must
be delivered by mail or otherwise to the
collector at any time between the first day
of January and the first Monday of March
in each year. The gross gains, profits and
incomes returned by persons shall include:
l. Gross profits of any trade. business or
vocation, wherever carried on.
2. Rents received OF accrued during The year.
g. Profits from sale OF real estate purchased
within TWO years.
4. Farming operations and proceeds.
5. Money and value of all personal property
acquired by gift or inheritance.
6. Premium on bonds, stocks, notes and
coupons.
Z. Income from trade or profession not by
stated salary and not heretofore enumerated.
8. From salary or compensation other than
that received from the United States.
9. Undivided gains and profits of any part
nershlp.
10. Interest received or accrued from ali
notes, bonds or other securities.
IL. Interest on bonds or coupons paid of any
corporation.
IL. Dividends from corporations.
IS. Income OF wife or minor child or chill
dren.
IA All other sources of income not above
enumerated.
The deductions allowed in the return
therein enumerated are:
1. -Four thousand dollars exempt by law.
2. Interest due and paid within the year.
3. National, State, county, school and munlc-
ipal taxes paid. not including assessments for
local benefits.
4. Amount expended in the purchase or pro-
duction of livestock or produce within the year.
8. Necessary expenses, specified by items
actually incurred in carrying on any business
or trade.
6. Losses actually sustained during the year.
specified
7. Actual losses on sales of real estate pur-
chased within two years
8. Debts contracted and ascertained in the
year TO be worthless.
8. Salary or compensation over $4,000 from
which the tax OF 2 per cent has been with
held by disbursing officers OF the United States
Government.
10. Dividends included In the estimate of
gross profits from corporations on which the 10
per cent tax has been paid by such corpora.
lions.
La the case of non-residentS the return
must be made and filed in the manner pro-
vided for residents. and if not so filed the
collector must make return for the nom
resident. making no allowance for exemp-
ton. If any person fails to make return
10 the manner and time provided by law.
or makes false or fraudulent return, the
collector shall make the return from evil
deuce obtained by summoning the person
and examining his books. and from all
other evidence obtained. and shall add 5
per cent TO the amount of tax found due
as penalty, as in the case of refusal or
neglect 10 make return. and 100 per cent
penalty ir case Of false or fraudulent re-
urn. The penalties and interest will be
added after notice to the party and full
hearing, if such is desired by him. Where
the tag has been returned end paid in an
other district. or where the party has not
taxable income, he may so declare in
printed affidavits ON the blank annual re-
turns.
All corporations. companies and assocl-
atoms. both resident and foreign, doing
business for profit in the United States,
shall make annual return of all net profits
above business and operating expenses on
separate blanks prepared for them and
when duly verified by the oath Of the
President or other chief officers of such
corporations, the return must be delivered
to the collector on or before the first Mon
day in March of each year. The first re-
turn of corporation shall cover all net
profits and interest for the year 1894 The
exemption of $4,000 allowed to persons is
not extended to CORPORATIONS, but the re-
turn must cover all net profits without ex-
emption. The annual return of corpora
tons must include:
1. The gross profits of all kinds OF business.
q The expenses exclusive of interest. annui-
ties or dividends.
3. The net profits without allowances for in
terest, annuitieS or dividends.
4. The amount laid on account OF interest,
annuiiies and dividends.
8. The amount paid in salaries of $4,000 or
less TO each employee.
6. The amount paid In salaries of more than
$4,000 to each employe; the names and ad-
dress OF each OF such employees.
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