The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-02-12
COUNT UP YOUR STUFF
questions NAT The InCum, Tax Man
Will Ask You
II WILL HIT THE RICH
Newspaper Men Need Have No
Fear-Policemen and Mine
Owners VIII Have to
PungIe Up.

wealthy corporations have not yet bee
oincialiy called upon TO make statement
as 10 their incomes for taxation, but will
probably be required to do so within
Few days. William p. Forbis, revenu,
collector of the Third district of Montana
comprising the counties of Silver Bow
Deer Lodge, Missoula, Granite and Ra.
vaiii, has received the necessary blanks
out was later ordered to hold them fol
.urther instructions, which have not We
oeen received, although the time for max
ing MS returns, according to the provis.
IONS OF the law, expires on the first Mon.
Jay In March. Mr.. Forbis says it will
now be utterly impossible to cover his
ois'rict In the time stated, and it is ex.
pectei that the time may be extended
the department having been responsible
Tor the delays. In other states, however,
collectors have been instructed by
the treasury department to proceed
immediately with the distribution of
the forms and with the collection of data
ana preparation of records necessary for
tne eHncient enforcement of the law. The
secretary of the treasury has made an an
PLopria.ion TO enabse collectors TO employ
aoditional force for the collection of the
revenue, but no official notice of the fact
mas yet been received i'm Butte. IL will be
interesting to Montana's miilionaires to
know that the failure of persons and cor
Porations TO receive the necessary blanks.
OF notice relative thereto, cannot be re.
garded as valid excuse for not render
ing the return required by law, and will
not prevent or reduce the penalties inn.
posed Tor failure or neglect to make proper
returns. FOPS1
In connection with the instructions re.
ceived by Mr.. Forbis, attention ia es-
pecialiy called to the sections of the law
prescribing penalties for making known
any TACT appearing in any income return
or any record relating thereto. This pro-
..i on OF the law Is very strict, and says
II shall be unlawful tor any collector
ueputy collector. agent or other officer or
empioye of the United States, to diyuloe
or make known in any manner whatever.
not provided by law, to any per.
son the amount or source of income.
pronts, losses, expenditures, or any par
uculars thereof set forth or disclosed in
any income return by any person or cor
poratlon, or permit any income return or
copy thereof, or any book containing any
spstract or particulars thereof to be seen
or examined by any person except as nro.
vided by law. 1t shall be unlawful for
any person to print or publish in any man |
her Whatever not provided by law any in
come return, or any part thereof, or the |
amount or sources of income, profits. |
income return. All offenses against the
foregoing provisions shall be a INSIDE |
meanor anu be punished by a fine not ex-
ceeding $1,000, or by imprisonment NOT
exceeding one year, or both. at the discre-
.i9 e OF the court,and If the offender be an
oIllcer or employe of the United States
he shall be dismissed from office and he
incapable thereafter of holding anv office
under the government
There are two sets of blanks furnished
coiIectors, one for individuals and the
other Tor corporations. On the first page
OF each is synopsis of the income tax
law providing for tax of . per cent. on
all gains, profits and income received i'm
, me last calendar year in excess of S4.O)O
nut regardless of whether or::not a blank IS
received al persons and corporations AZ
ing an annual income of more than 81 5o1
must make iull reports, although those
whose revenue is more than $4,000 will he |
forced to pay the per cent. tax. The tax
must be paid before July |. There are
10 classes of gains that must be included |
m the statements made by individuals. as
30
tirst-Gross receipts, credits, profits. l
earnings and gains from any interest s
herein, wherever carried on. 8
Second-Rents received. ,
Third-Profits on sales OF real estate /,
purchased since Dec. 81. 1892.
campaigning operations; proceeds :
rom sales OF live stock and agricultural :
/
Fifth-Money and personal property ac. S
SlNth-Premlum on bonds. stocks. notes
n coupons.
lSeventh-lncome from profession. trade
e other employment except stated salary
II pay.
Eighth-Salary compensation or nav for
services. not including SALARY
eceved from the United States.
Ninth-Salary or compensation received
! service of the United States.
Ienth-Gans or profits. divided or I'M y
lvided. of any partnership. u
Eleventh-Interest received or accruad a
n all forms of Indebtedness bearino in.
rest. whether paid or not, if good and
ollectable. N''
Iwelfth-lnterest on bonds, etc.. of anv
operation. company or association b
Ihrteenth-Dvide or interest IN | y
ock, capital or deposits of any COM x
my. -
observation-disclosures of wife or minor &c
llldren. III
sources not above enu. tie
Grated. H.#.. O.
From the above the following deductions 50
ay be made: NJ
First-Exempt by law. 5000. JIG
fallen due or paid dur
g the year.
rhird-National, state, county, school
municipal taxes paid, not includina A.;
xes assessed against local benefits. ~
rourth-Amount expended in purchase We
productlon OF live stock or produce sold Dr
ring the year. Cit
-lfth-Necessary expenses actually in NJ.
rred IN carrying on any business occu. =
ton or profession not elsewhere de-
cted; but expenses for medical attend-
&c, store accounts, family supplies.
yes OF domestic servants. cost of boar,l ~
'm or house rent for personal or famiJv IL
are not expenses that can be deducted
IN the gross profits or income.
'ixth-Losses actually sustained dur.
the year incurred in trade or arisin,
m fires. storms or shipwreck, not com ,
lsated by insurance or otherwise and
already deducted.
losses on sales OF real
ate purchased since Dec. 81, 1899.
lghth-Debts ascertained during the
IT to be worthless. not elsewhere de.
ted.
inth-Cost price of material purchased
manufacture or resale. not increasino
TX on hand Dec. 81. 1898.
enth-Dividends heretofore included
N corporations. etc. on which the tax
NO per cent. has onra ham