Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1895-02-07
Madison, February /, lSaH

Internal Revenue Collector NJ. +,
Blumeutcld Of this district has re-
ceivrd full Instruction from Washing
ton with reference 10 the collection Of
the income tax, ANA together With his
force OF SubordnatcS Is huSily engaged
perferting arrangements to meet the
new tide uf business. The commissioner
'of internal revenue has already sent out
large supply " the income blanks
and persons affected by the law can
now secure them upon application to
the collector. The Instructions given
out In pamphlet form pertaining to the
collection OF the Tux are quite com.
plctc and cover all details upon tho
subject together with Information con,
10 arise relative to persons income,
Notices rs 10 the liability under the
law and general instructions In con-
else form governing the collection Of
the tax have been prepared by the
federal authorities and these will
shortly be conspicuously posted In all
poStotlices and other public resorts for
the general information OF the people,
Collector Blumcnfeld Is preparing Il
list OF all persons whom The has r,S,-
son To bclicvc come within the liza
bility of the tax, and facts SO far oh.
tanned indicate that this district In.
cludeS a large number, After the ~.
turns are received In March, the dep.
uty collectors viii make thorough
canvass of the district for the purpose
OF detecting dclinquents The first
Monday in March is fixed MS the last
day for making returns and those who
fail to do SO within the specified time
will be subjected to an increase of tax
Of % per ccnlum, Dire penalties are
imposed upon revenue officers for di.
vulging any information concerning
the income of any person or corpora
ton and no return will be open 10 pub.
lie inspection
The law provides that all persons
having an income In excess OF $1,000
are required to make return, and an
excuse from dellnqucntS that he or
she was not requested to make q re.
turn Will have no weight whatever or
serve to stay fines, Besides relying
upon the honesty OF the people, the
collector has many other means Of oh
tanning knowledge as to the incomes
Of private individuals. AS for In
stance, all interpretations In The dis
trct are secured from the records In
the office of the secretary of state, and
SnIu rios pT nIiianIl ~ InpnIna Iat III N 40
must be embodied In n statement made
by such corporation. The exemption
limit OF Il private income Is placed at
$1,000, and per cent. Is collected on
the sum in excess of that amount. 1t
must be borne in mind however. that
If "A person receives an Income In ex-
cess Of S35O0, he must make a return
of such fact. and If Ii hc below $1,000
he will be exempt from the tax.
Interpretations are not entitled to
the $1,000 limit They viii be com
PEELED to pay 2 per cent on their
profits, or, in other words, on the net
profits or income over operating and
business expenses 'fhe first taxable
year under the provision OF the law.
1t Will be observed, Is the calendar
year 1894. and the incomes due and
payable on or before the first day of
taxable incomes received in said year
1894, from the 1st day of January to
the 31st day Of December, both days
Included
The first steps to be taken by those
whose incomes are affected by the
law Is TO apply to the collector Of in
ternal revenue or deputy collector OF
the division for the necessary blanks
The salaries due TO state, county or
municipal officers, however, are ex-
empt from the income tax MS provided
for under the regulations governing the
income Of private individuals.
The Income tax Of corporations only
differs from that of the private lndi-
v'dnaI In this respect, that all cor.
porations, companies or associations
doing business for profit In the United
States, No matter how created or or
ganized, but not including partner
ships, must make return as to their
net profits and pay z per cent. tax
thereon. Under the head OF corpora.
tons there will be Included such busi-
ness organizations as banks, trust com
panles, saving institutions, fire, ma
riLe, life and other insurance COM
palies, railroad, canal, turnpike canal
navigation, slack water, telephone,
telegraph, express, electric light gas,
water, street railway companies etc.
Corporations, companies, or associa-
tIons organized and conducted solely
for charitable, religious or educa-
tlonal purposes, including fraternal
beneficiary societies, orders or asso-
Citations, operating upon the lodge
system and providing for payment of
life, sick and other benefits to the
members and dependents OF such
members OF the above class Of asso-
Citations, are exempt from the tax, as
well as building or loan associations
or companies which MAZE loans only
to their shareholders; also savings
banks and savings institutions or
rather societies which shall have no