The record-union., 1894-12-14
Special to the REcoRD-UNIoN.

OF the Treasury to-day approved the reg
ulations prescribed by the Commissions
of Internal Revenue for the enforcement
Of the collection of the income tax unde
the late Tariff Act. Under the regulation
provided and approved, pursuant TO law
every citizen of the United States
whether residing at home or abroad, anC
every person residing or doing busines!
in the United States, who has an annua
income of more than S., $50, shall make ;
full return of the same, verified by hi:
oath, to the Collector OF Inteanal Revenue
of the collection district in which he re-
sides, or if not resident, in which his
business or property from which income
is received is situated. on or before the
first Monday of March of each year. The
first return under the law shall be made
on or before the first Monday in March.
every source received IN the year 1894,
from the lst day of January to the 3Ist
day of December of said year.
Guardians, trustees and all persons and
corporations acting in any tiducIary ca
paclty are required to make similar re-
turns for all minors, wards or benefi-
Charles Tor which 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 aitiant
has included said returns, all gains.
profits, and incomes from every source
whatsoever, received by him or to which
he Is justly entitled for that year, and
that he is honestly and truly entitled to
make all the deductions entered on his
return, and that he has truly answered
the interrogatories set forth on said blank
form. When completed and duly yeri-
he'd by the oath of the person rendering
the same, the same must be delivered by
mail or otherwise to the Collector at anv
time between the first day of January
and the first Monday OF March i'll each
year.
The gross gains, profits and incomes
returned by persons shall include:
Elrst-Gross profits of any trade, buSi-
ness or vocation wherever carried on:
second-rents received or accrued during
the year; third-protits from sales of real
estate purchased within Two years;
Iourth-tarmiug operations and proceeds;
flfth-mOney and value of all personal
property acquired by gift and Inherit
ance; siXtn-premium on bonds, stocks.
notes andcoupons: seventh-income from
Trade or profession, not by stated salary
and not heretofore enumerated; eighth
from salary or compensation other than
that received from the United States;
y
partnership; tenth-interest received or
accrued from all notes, bonds or other
securities; eleyenth-intereSt on bonds or
coupons paid OF any corporation: twelfth
dividends from corporations; thirteenth
income of wife of mirror child or chill
dren; fourteenth-all other sources
of income not above enumerated: :
The deductions allowed in the return
and therein enumerated are: Q) $4,000
exempt by law; (2) interest due and paid
within the year; 81 national, State, coun-
ty, school and municipal taxes paid, not
including assessments for local benefits:
AZ amount expended i'll purchase or pro-
ductiOn of livestock or produce sold with
in the year; (5) necessary expenses, specl-
fed by items actually incurred in carry
ing on any business or trade; (6) losses
actually sustained during the year speci-
he'd; % actual losses on sales of real
estate purchased within two years; (S)
debts contracted and aScertalned in the
year to be worthless; 90 salary or COM
pensation over $4,000 from which the tax
of per centum has been withheld by
disbursing officers of the United States
Government; l0) dividends incladed in
the estimates of gross profits from COR
porations on which the 10 per cent. has
been paid by such corporations.
In the case of non-residents, the return
must be made and filed in the manner
IGSIQ6uIS, dIlu IL uOL SO ulou,
the Collector must make return for the
nonresident, making no allowance for
exemption.
Ii any person fails to make return in
the manner and time provided by law. or
makes false or fraudulent return, the
Collector shall make the return from evil
dence 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 the tax found
due as penalty, as in the case OF refusal
or neglect 10 make return, aud 100 per
cent. penalty in case OF a false or frauuu-
lent return. The penalties and interest
will be ADDED, after notice to the party
and full hearing, if such is desired by
him. Where the tax has been returned
and paid in another district, or where the
party has not taxable income, he may
so declare in printed atfidAvits on the
blank annual returns.
All corporations, companies and asso-
Citations, D0th resident and foreign DOING
business for profit in the United States
shall make annual return of all net prof
its above business and operating ex-
penses an a separate blank prepared for
them, and when duly verified by the
oath of the President or other chief Off.
GERS of such corporation, the return must
be delivered to the Collector on or before
the first Monday in March of each wear.
Ile urSC return OF corporations shall
cover all net profits and interest for the
wear 1884. The exemption OF $1,000 al
lowed to persons Is not extended TO cor
Dorations, but the returns must cover all
net profits without exemption.
The annual return of corporations
must include: o., the gross profits of all
kinds OF business; (.), the expenses ex-
elusive of interest, annulties and divi-
dends; (3), the net profits without allow
, ance for interest, annuities or dividends:
(D. the amount paid on account OF inter-
est, annuities and dividends; (5), the
amount paid in salaries Of four thousand
dollars or less TO each einploye; 90, the
amount paid in salaries OF more than four
thousand dollars to each employe, and
the names and address of each of such
employees.
the gross profits include: Q), all
profits oil any trade or business; % inter
), est or coupons from bonds or other Sc
curities of any corporations; t5l dividends
received from any corporation; I'D unGl-
ylded profits OF any corporation; loi pre-
MUM on bonds, notes or stockS;s stol com
mission or percentage; ~ interest on
Government securities not exempted by
law; Isl interest on other notes, bonds and
securities; (9j profits from sales OF rea
estate; (lOj from rents; Ql) profits iron
all other sources. To be enumerated.
The operating expenses shall Include
o., Interest paid or accrued within tht
year on the bonded or other indebted
ness OF such corporation; (2), loss actually