Goldsboro weekly argus., 1914-01-08
INCOME TAX FORMS
WERE MAILED OUT
instructions for Making Re
turns of Private Incomes
FINE FOLLOWS A FAILURE
Expenses For Medical Attendance
Family Supplies and Servants,
Gas and Electric Light
Bills Not Deducted.

Washington, JAM 5.-The form tc
be used and regulations to be follow
ed by individuals in making returns
of income subject to the new Federal
income tax we're sent out today by
the Treasury Department. Every citi,
zen of the United States, whether re-
siding at home or abroad, every per
son residing in the United States and
every nonresident alien who has in.
come from United States investments
of $4,000 Or more, must make return.
For the past year 1918, specific ex
emptions will be $4,000 or $3,333.3;
in the case of married persons and
in future years, $4,000 and $4,000.
Where the tax has been withheld on
part of the income at the source, OF
where part of the income comes as
dividends upon stock of a corporation
taxable under the corporation tax sec
ton of the law, the regulations set
forth that such income shall be de
Quoted from the individuals net in
come when computing the amount {
which he is taxable.
The law imposes tax of 1 per cent
and provides that individuals who have
an income between $4,000 and $780,
900 shall pay an additional tax OF l
per cent on such amount; on all be-
tween $4,000 to 100000, per cent;
100000 to $250,000, per cent; $780,
900 to $4,000, Per cent; and all over
100000, 6 per cent. Return must be
in the hands of the collector of inter
nal revenue in the district where the
payee lives or where he has his prin-
cipal place of business not later than
March 1st; failure to observe this linn
it to be punished with fines ranging
from $40 to $1,000.
Refusal or neglect to file returns.
except in case of sickness or absence
will result in an addition of so per
cent to the tax assessed. In the case
Of false or fraudulent return 100 per
cent will be added to the tax assessed
and any person required to make, rem
der, sign or verify such return, which
makes false or fraudulent statement
with intent to defeat or evade the tax
will be guilty of misdemeanor and
subject to fine Of not more than ST.,
900 or imprisonment for one year, or
both.
An extension of 80 days from March
list in case of sickness or absence may
be allowed by the proper collector
provided an application is made by the
individual concerned. Returns must
be accomplished by oath or affirma
ton
Expenses for medical attendance
store accounts, family supplies, wages
of domestic servants, cost of board
room or house rent shall not be de-
Quoted from gross income, and ind1-
viduals who own their own residences
cannot deduct the estimated value of
the rent.
The farmer is required to include
in his net income all money from pro-
duce and animals sold, for wool an(
hides of slaughtered animals, provided
they are sold. He may deduct tho
sums actually paid for the animals
sold or slaughtered during the year
but the value of animals raised shall
not be deducted as expenses or loss.
The farmer also may deduct money
paid as expenses for producing farm
products, live stock, ETC., and for re-
pairs for the current year.
The cost of tools or machinery may
be deducted.
Persons receiving fees or emolu-
ments for personal or other services
must include all actual receipts for
services during the year together.