The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-03

| interest, from all federal taxation.
IL. In estimating the amount of taxable
income only such losses as shall have been
actually suffered, and the amount of which
Las been definitely ascertained during the
year covered by the return sua, can Pa De de1 1asr
No deductions will be allowed for any losses
not specifically described and set forth in
| the annual return of the person or corpora
ton claiming the deduction
IL. Nonresiaents are not entitled to the
exemption of $4,000, or to any exemption
whatever, unless they make out their an
nual returns, duly verified by oath or al
firmation, and deliver the same to the
their property or business from which in
come is derived is situated in the time
pairing returns nonresidents may, when
necessary. use two forms, No. S65-one for
come derived from business or any other
source in the United States.
Ia. Persons receiving fees or emolumentS
for professional or other services. as in the
Gaze of physicians or lawyers. should in
c era "a al Ia actual r fal pb,c 5or rs services IS m reno-
together with all unpaid accounts, charges
for services, or other income due for that
is. The annual return of merchants and
manufacturers of their gains. profits or in
come, should cover the business of the year.
from the 1st day of January to the 31st day
of December in the. year for which return
is made; and their books of account, stock
records and inventories should be kept and
taken at such time and in such manner as
expenses' net so profits it or income for the year
ending at the close of business hours on the
31st day of December.
on notes, bonds or other evidence of in
d~ebtedness, If good and collectible at the
end of the year, should be returned as in
come. whether actually collected or not.
Dividends payable in 1894 should be returned
as income for that year, no matter when
II. Debts which were contracted during
the year 1894 but found in said year TO- be
the income of the creditor in his annual
return for said year, but such debts cannot
be considered or returned as worthless until
after legal proceedings to recover the same
have proved f~ruitless, or it clearly appears
that the debtor is insolvent, and that pro-
ceedings to collect the debt would avail
nothing. In making the deduction for
same MIpeHi must state in mis- return that one Of
the facts as above set forth exists in con-
nection with the debt returned as worthless.
IS. Where the salary or compensation
paid to any person In the service of the
United States does not exceed the rate of
sum in the calendar year, or is paid in fees,
or is uncertain or irregular in amount or
earned or has accrued, such salary or COM
pensation shall be included in estimating
the annual gains or income of the person
to whom the same was paid, and shall be
entered on his annual return Form No.
1861 to the collector with his other sources
of income: All salaries or compensation
paid to officers or persons in the employ of
the government of the United States in
GUIDED in the annual returns to Collectors,
on Form No. 365, of such officers and per-
sons. in statements of gains. profits and in
comes subject to income tax for that year.
At the bottom of page 4 the individual is
confronted with an extract from the income
tax law, passed Aug. rs, 1894, setting out all
the direful calamities which will befaH any
person who shall neglect or refuse to make
and render such list or return, or shall rem
der a willfully false or fraudulent return"
THE PART THAT TELLS THE TALE.
On the third page is found the important
part of the blank, /. e., the list of questions
which each person having an Income of
$500 or more is supposed to answer. The
list is complete, covering every kind of an
income. 1t also contains a blank for vari-
GUS credits to which a person is entitled.
The list follows:
Receipts Of All Kinds
Dolls. Cts.
Gross receipts. credits, earnings. and
gains from any business or any in
terest therein, wherever carried on -. -.
From rents received or accrued dur
From profits realized on sales Of real
estate purchased since Dec. 81, 1892 49,. %
From farming operations; proceeds
from sales of live Stock.....-.--..... 49,. ..
From farming operations; proceeds
from sales of agricultural products -. ..
Money and the value of all personal
property acquired by gift or inheri-
m on bonds. stocks. notes, or
Income from profession, trade. or
other employment, except stated
From salary, compensation, or pay
for particular services, and not in
GLIDING salary, or compensation re-
ceived from the United States 49,. 80. :.
From salary, or compensation re-
ceived for services in the civil, mil
itary, naval, or other service of the
United States, including salary of
Senator. Representative or Dele
gate in Congress. 49,. ..
From gains and profits, divided or
undivided, of any partnership.-..... :.
within the year upon all notes,
bonds, mortgages or other forms of
Indebtedness bearing interest,
whether paid or not, if good and
colectible 80. >.
From interest or coupons paid or &C.
crued on any bonds, or other evil
dences of Indebtedness, of any cor
poration, company or association. .... =.
From dividends or interest paid or
accrued on the stock, capital or de-
posts of any corporation, company
Income Of wife or minor children
computed on the same basis as this
From all sources not above enumer-
ated, 49,. ..
Total gains, profits and income..... 80. :.
Credits To Be Deducted
Dolls. Cts.
Exempt by 1000 .. -. ..
Interest which has become
due or which has been paid
during the year............ !. :. -. ..
National, State, county,
school or municipal taxes
paid within the year, not
including taxes assessed
against local benefits. .. . .. :.
Amount expended in the
purchase or production of
live stock or produce sold
within the year.........--.. !. i. . -. ..
Necessary expenses actually
incurred in carrying on
any business, occupation
or profession, and not else
where deducted in this re-
turn - .. -. :.
Losses actually sustained
during the year. incurred
in trade or arising from
fires, storms or s~hipWreck,
and not compensated for
by insurance or otherwise,
and not already deducted
in ascertaining profitS..-..- -. :. -. :.
Actual losses on sales of real
estate purchased since
Dec. 81, 1892. ..-.-.........--. -. /. -. :.
Debts ascertaincd within the
year~to be worthless and
not elsewhere deducted in
this return. -. +. -. =.
-