The Hazel Green herald. [volume] (Hazel Green, Wolfe County, Ky.) 1885-19??, 1895-02-28
rhE INCOME TAX.
Interesting Points About Uncle Sans
Prospective "fouch."

pected of having an income of So.
800 or over. Although the man
with a meager income of $500 il
not expected to pay any tax, he
must satisfy the collector that he is
not receiving more than $4,000 ex-
ompt by the law. If the collector
has reasons to belize that an in
come is moderated, he may fill out
the blank himself, according to the
best information he can obtain,
and this list will be considered as
the return of such person, when
duly certified by the collector. If
any person is dissatisfied with the
return thus made, he may submit
his case to the commissioner of
internal revenue.
In cases Of willful neglect or re-
fusal to render list az prescribed
by law, the collector will make out
the list himself and add so per cent.
as penalty TO the amount due on
the list. When IL fraudulent list is
returned, the collector will increase
the penalty to 100 per cent.
AS heretofore announced, all per-
sons having an income Of more than
$4,000 must pay tax of > per cent.
on the excess. In computing in
comes there shall be deducted the
necessary expenses actually in
Cured during the year in carrying
on any business; all inter st paid
within the year on existing indobt-
edness, and all taxes paid within
the twelve months previous to the
assessment. Expenses for store
accounts, wages for domestic serv-
ants, board or rent, are not ex-
penses that can be deducted from
the income in making the return.
Assessment upon real estate on ac-
count of street improvement or
sewerage are not considered as
taxes which may be deducted from
incomes. No deduction will be
made for amount paid out for new
buildings or permanent improve
ment made to increase the value of
property. The amount received
upon dividends of stock on which
the tax has been paid ny the COM
pany or corporation will not be in
cluded in the list returned to the
collector.
Only one deduction of $4,000
will be allowed from the aggregate
income Of all the members of one
family composed of one or both pa
rents and one or more minor chill
dren. Tho failure to receive a re-
turn blank will not be deemed a
valid excuse for not making any
return, and will not prevent or re-
duce the penalties imposed by law.
Persons not supplied with blank !
forms should apply to the collector
for them. The returns must be
handed to the collector on or be-
fore the first Monday in March,
and should include the PERSONS
income from December 81, 1894,
to January /, 1895.
The rulings in regard to tho pay
ment of the income tax by individ-
uals apply also to corporations,
with the exception that a corpora
ton must pay tax of : per cent.
on its net income, whether 1t be 81
or million dollars, the 1000 exc
emption not being allowed az in
aase of individuals. Charitable,
religious and educational institu-
tons are not taxed. Certain
classes of savings banks, building
and loan associations, insurance
companies and other corporations
doing business on the mutual plan,
solely for the benefit of the stock
holders, are not included i'll the
law.
The income tax will affect all
classes and conditions. President
Cleveland will have $92 deducted
from his next months salary.
Railroad presidents, negro jockeys,
prize fighters, cabinet officers, Pull
man car porters, members of con-
yress and ministers of the gospel
will all march up and plank down
their dollars to help run the gov
eminent.
Some deluded person may have
an idea That by paying a few dol
lars income tax he will get his name