The Owosso times. (Owosso, Mich.) 1897-1926, 1913-10-31
INCOME TAX PROVISIONS
CONTINUED from last weekly

Continued from last weekly
TIME OF GOING INTO EFFECT
THE tax shall be computed up0a the
remainder of the said next income Tor
the year ending December 81, and for
each calendar year thereafter, except
that the tax for the year 1913 shall bs
computed only on that portion OF iH-
come accruing from March to Dec eur.
Der 81.
RETURN OF INCOME.
"A true and accurate return OF al
net incomes of $3, 900 or more for tsr@
year shall be made upder oath or
affirmation.
1T must be made to the collector Of
internal revenue for the distinct ig
which said person resides or has hG
principal place of business in the United
States. A personal return of all ueS
income shall be made for the purpose Of
the additional tax.
FORM OF RETURN.
THE form shall be prescribed by the
Commissioner of Internal Reven ae.
with the approval of the Secretary nC
the Treasury. 80
Shall set Nrth specifically the gross
amount of income from all separate
sources. From this total shall be de-
Quoted the aggregate items of expenses
and allowances above authorized.
TIME OF RETURN
''The return must be made on OF be
fore March 1, 1914, and on or before
March of each year thereafter.
PERSONS REQUIRED TO MAKE RETURNS
81. Each taxable person of lawful
age for himself.
"2. Guardians legal or naturalI.
trustees, and executors shall make aHd
render return of the net income com-
ing into their custody or control of tha
person for whom they act
"3. All persons, firms, companies
co.partnerships, corporations, etc, has-
ing the control, receipt, disposal or
payment of fixed or determinable sa-
nual or periodical gains profits. or iu-
come of another person subject to tar
arising from an annual or periodical
business relationship shall in behalf OF
such other person render. separsts
and distinct return for each person up
on which the normal tax is paid at the
source, but no tax shall be thus with
held until on or after November 1.
1918, and personal returns are required
as to all income on which the tax isnot
thus withheld at the source.
Persons conducting business ir
partnership shall be liable for tax only
in individual capacity and upon each OF
such individuals share of the partner
ship profits, whether divided or not.
EXCEPTIONS TO RETURNS.
mo return of income not exceeding
5000 is required.
Persons liable for the normal taz
only on their own or anothers account
shall not be required to make returns
of the income derived from dividends
on capital stock of corporations taxable
upon their net incomes
DUTY OF THE COLLECTOR OF INTEE
NAL REVENUE.
1.-The collector or deputy shall require
each list to be verified by oath oc
affirmation of the party rendering it,
"The collector may increase the
amount of any return IL he has reasoE
to believe the same is understated.
mo such increase shall be made ex
cept after due notice to such party aud.
upon proof of the amount understatea.
I'm case Of disagreement between the
collector and the taxable person sudk
person may submit the case, witk
papers and proof, to the Commissioner
of Internal Revenue.
ASSESSMENTS
"All persons shall be notified Of, the
amount for which they are respectively
liable on or before June of each year.
NEGLECTED, FRAUDULENT OR FALSE
RETURNS.
In case or neglect or refusal TO maafH
returns, or in case of fraudulent or fakes
returns, upon the discovery within three
years after said return is due the CotK-
missioner of Internal Revenue shak
make such return himself
TIME OF PAYMENT.
"Said regular assessments shall be
paid on or before the 30th day Of June
each year.
Assessments made by the Commits
sioner of Internal Revenue are payabls
upon notification.
PENALTY FOR DELAYED PAYMENTS
"On sums due and unpaid after June
80, and after 10 days notice and de-
mand thereof by the collector, thecs
shall be added per cent to the amourt
of tax unpaid and interest at the rats
Of per cent per month from the ,tiue
the same became due. .H
EXCEPTIONS AS TO PENALTY
Incomes from the estates of insane.
deceased or ipsolvent persons.