Omaha daily bee., 1909-06-26

WNHAMA
business transacted and capital invested
within the United States. bears to gross
income from all sources within and without
the United states; CO amount paid Tor
federal or local taxes; CO net income after
making the deduction authorized.
Books May he Examined.
Local collectors will transmit the re-
turns forthwith to the commissioner OF in
ternsl revenue in Washington.
Upon evidence justifying the opinion that
the return made by a corporation lie In
correct, or whenever insufficient or no re-
turn has been made the commissions is
empowered to designate any regularly APP
pointed revenue agent to examine the books
or papers OF such corporation, and take
testimony OF a responsible officer OF the
corporation in order to produce the infor-
nation required for the purpose OF as
sessing the tax. The commissioner is
authorized also to invoke the aid Of any
United states court to require the attend
ance of such officers or employees and the
production of books and papers Upon the
information so acquired the commissioner
OF internal revenue may amend any re-
turn or make a return where none has
been made.
Returns are to be retained By the com
missioner, who will assess the tax. In the
event Of any return being made with false
or fraudulent intent the commissioner is
required to add 100 per cent OF such tax
and In case Of neglect or refusal to make
return, or TO verify the same to commits
sioner lie to add 80 per cent to the tax.
When the neglect is occasioned by sick
ness or the absence OF a responsible officer
Of the corporation subject to the tax the
collector is allowed to extend the time,
| mot awCoadiuH thirty AayS Aeaneapnarff
made by the commissioner must be paid
by the corporations before June 30 of each
year.
Corporation Records Protected.
After assessments have been made the
returns of corporations must be filed in
the office of the commissioner Of internal
revenue and they will then constitute pub
lie records and as such will be opened for
inspection. For the protection OF a cor
poration against the wrongful use of in
formation the following is provided:
1T shall be unlawful for any collector,
deputy collector, agent, clerk, or other
officer or employe OF the United States to
divulge or make known in any manner
whatever not provided by law to any per-
son and information obtained by him in
the discharge Of his official duty, or to
divulge or make known in any manner not
provided by law any documentry evidence
taken or report made under this section
except upon the special direction of the
president; and any offense against the
foregoing provision shall be a misdemeanor
and be punished by a fine not exceeding
$1,000 or by imprisonment, not exceeding
one year, or both, at the discretion Of the
court"
II any corporation subject to the tax
refuses or neglects TO make a return in
the manner required or shall make a false
or fraudulent return 1t is liable to a penalty
of not less than $1,000 and not exceeding
$4,000. When any person authorized by
law to make or to verify a return, shall
make a false or fraudulent statement for
the purpose OF evading the assessment he
becomes liable to a fine not exceeding
$1,000 or a prison sentence OF not more thar
one year, or both.