The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-02-13
REGULATIONS OF
INCOME TAX
Many Pages are Filled With
Directions to The
Officers

Washington. Eeh 1i-After weeke
of study OF the complexities of the in
come tax law, treasury officials today
issued a ninety page booklet christen-
ed 1t Regulations No. g." and sent 1t
forth to collectors OF internal reve-
nue. in the expectation that II will
clear up many OF the misunderstand-
ings concerning the law which have
arisen throughout the country.
1t takes 23 pages OF the book TO set
iorlh the law itself but GO pages are
used in telling how the net income to
be taxed is 8.Scsrtsiiiissdd 5Sr the ta1pay-
er, when and where tax must be paid.
what penalties will be imposed for
non-payment what exemptions aud
deductions will be allowed. Many
pages are devoted TO an explanation
OF that part Of the law imposing q one
per cent. tax on the income of all cor
porations, which replaces tho old cor
poration tax.
Although officials are confident that
this booklet will prove a guide to tax
payers which viii settle many ap-
parently difficult problems, there will
be other regulations ia the future
when new points are raised. The
book does not contain new set of
regulations but Is q compilation In
compact form OF the ones already is
sued with explanations OF points nev-
er before discussed. Under the
law, partnerships are not subject to
the tax, but the regulations provide
that annual profits from partner
ship paid to members shall be in
ciuded In their returns and where
such profits are undistributed antl2un-
paid they must be ascertained ami in
cluded In the individuals return for
taxation Just the came. ~
1t is made clear for the first time
that persons who have asnet income
OF less than $4,000 all derived from
Investments and upon which the tax
mas been withheld at the source, shall
not be required to make any return.
EXECUTORS and administrators of es-
tates OF persons are required to pay
the tax on the net income for the part
OF the year in which the deceaaed was
alive.
Where persons taxable REUSE Il;
make the proper list ors return or
make false return the regulations pro-
vide that the proper collector of In
ternal revenue, shall after due notice.
make the return for such person and
the tax shall b tssed on This re-
turn, with TT, me hundred NOR
cent. penalty s4aen. Returns tIlnsf
be verified. by oath or am itn.asl On. F,aIL
turns shall be sent by collectors to, the
commissioner OF intSrnaf Tagenue n
Washington by registered nail Taxees,
dp paid after june 80 3 sllpIE bring q
penalty of 8 per cent cen fsr Ten days;
netice and demand by fps lbiss pEp pberI col
.sstor. ana, interest," at bhssj ratg1pf one
HetnEnR q shall be Ipada fn - y, =,
1eLore March 4. every - 80. -;
IN dealing 4!th the corporation
feature Il is explained that nh re-
!llspps silail be c eepI SD ect
so inspection e on OF e PSssi-
aentSSf the United t es uSs ier slles
prescribed by the secEetary OF the
treasury. COPIES % y etufns t.hn MOI
De sena to any person except the cor
pofations OF its attorney, butson I4s-
quest OF . governor, oflcers ofSa stafe
sp p : sssEasG::s; income tax,
may nave access e EsttuTns iy5 COR
eratian9 do.ag business in that state
United states Dl Dlstfii III g Z. attorney. nRy.
under certain restrictions, nave ae-
cess to the returns. Disclosure bv
any. collector or other empIoye on the
united States. OF any Information
Whatever, set forth IN any return Of
annual net income is made a F1aada-
.neanor, punishable by fine of I,00a
ana one years Imprisonment, ana If
Lne person found guilty Is a United
states employc he will be dismissed
ana thersafter be incapable OF ever
noiqing ONCE under tho government.