The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-06

or insurance companies subject TO like
tax"
Finally item ~ requires a statement Of
the total gross income
General Deductions.
The third page of the circular gives the
items included under the head General
Deductions" These are as follows
a. The amount of necessary expenses
actually paid in carrying on the business
but not including business expenses OF
partnerships and not including personal
living or family expenses
"2. All interest paid within the year
on personal Indebtedness of taxpayer.
"3. All national, State, county. school
and municipal taxes paid within the year
tnot including those assessed against local
benefits).
-. Losses actually sustained during the
year incurred In trade or arising from
fires storms ,or shipwrecks and not COM
pensated for by insurance or otherwise.
rs. Debts due which have been actually
ascertained to be worthless and which
have been charged of within the year.
IS. Amount representing n reasonable
, allowance for the exhaustion, wear and
| tear Of property arising out of its use or
employment in the business, not to exceed
| in the case Of mines per cent. Of the
gross value at the mine of the output for
the year for which the computation is
made. but no deduction shall, be made for
/ any amount of expense Of restoring prop.
| erty or making good the exhaustion
thereof for which allowance is or has been
made"
Forms for Amdavits.
| Then follow the total Of general de-
auctions and two forms for afiidavits.
one to be executed by an individual maxi
ing his own return and the other to
be executed by the duly authorized agent
making the return for tho individual. In
the case Of the individual affidavit the
wording is as follows. exclusive OF the
places for signature and for the signature
OF the officer taking the affidavit:
| II solemnly swear COR afiirm) that the
following return to the best OF my knowl-
edge and belief contains a true and COM
plete statement Of all gains. profits and
income received by or accrued to me dur
ing the year for which the return is
made and that l am entitled to all the
deductions and exemptions entered or
claimed therein under the Federal income
tax law Of October 3, 1918"
The form Of affidavit for an agent. ex-
elusive OF the blank for the signatures OF
the agent and the officer taking the afii-
davit. Is as follows:
Il solemnly swear Cor affrm) that I
have sufficient knowledge of the Affairs
and property OF - to enable me 10
make full and complete return thereof
and that the foregoing return to the best
OF my knowledge and belief contains a
-. z,.I s.f .tt.e
profits and income received by or accrued
to said individual during the year fol
which the return Is made and that the
said individual is entitled under the Fed
eral income tax law of October 3. 1913
to all the deductions and exemptions en-.
tered or claimed therein"
The last page of the circular form Is
devoted exclusively to the instructions OF
taxpayers, which are as follows:
Text Of Instructions.
| 81. This return shall be made by every
citizen Of the United States. whether re-
siding AZ home or abroad, and by ever!
person residing in the United State.
though not a citizen thereof having a ne
income Of $4,000 or over for the taxable
year. and also by every nonresident alieI
deriving income from property owned ant
business. trade or profession carried OF
In the United States by him.
80. When an individual by reason o
minority sickness or other disability o.
absence from the United States is unabl
to make his own return II may be mad
for him by his duly authorized repre-
sentative.
-. The normal tax OF I per cent. shall
: be assessed on the total less the specified
exemption OF $4,000 or $4,000 as the cas-
, may be. Cor the year 1913 the speciii
exemption allowable is $4,000 or $3,333.3
as the case may be- II. however. tn
normal tax has been deducted and with
n held on any part of the income at tn
source or II any part OF the income /
received as dividends upon the stock o
Q from the net earnings OF any corporation
Q SC. which 10 taxable upon its net incom
such income shall be deducted from tn
y, individuals total net income for the pur
u. pose OF calculating the amount OF incom
q on which the individual IL liable for Tn
r normal tax Of per cent by virtue OF I'M
I return.
~. The additional or super tax shall b
u calcula ted as stated In form.
IS. This return shall be filed with tn
a Collector Of Internal Revenue for tn
4. district in which the individual reside
II he has no other place OF business, othei
= wise in the district in which he has HI
Q principal place OF business. or in case tn
Il person resides IN foreign country ,ne
/. with the Collector for the district In whic
his principal business is carried on in n
United States.
u &c. This return must be filed on or b.
h fore the FIRST day of March succeeding N
e close Of the calendar year for which n
Z turn is made.
Penalties Are Set Forth.
d ~. The penalty for failure to file III
return within the limit specified by la
Ii SEQ to $1,000. In case OF refusal c
l. neglect to render the return within III
h required time Except in cases OF sickne'
}. or absence) so per cent. shall be adde
to amount of tax assessed. In case
false or fraudulent return 100 per cen
shall be added to such tax and any pei
= son required by law to make. rende
= sign or verify any return who make
any false or fraudulent return or stat
=. ment with intent to defeat OF evade Il
assessment required by this section
i be made shall be guilty Of mlsdemeant
Y, and shall be fined not exceeding $500
" or be imprisoned not exceeding one yea
Al or both at the discretion OF the court, VIII
. the costs OF prosecution.
IS. When the return il not filed with
the required time by reason OF sickne
10 or absence OF the individual an extei
ID sion of time. not exceeding thirty da.
?. from March !, within which time the r
turn may be granted by tho collecto
provided an application therefor is mac