Atlanta Georgian., 1914-02-22
FAILURE To GET NOTICE No
EXCUSE TODODCE NEW TAX.
Continued from Page I.

Fifth. Worthless debts, charged Off
within the year.
Sixth. Reasonable allowance for
depreciation Of property, arising from
Its employment. not exceeding, IN
case Of a mine, 5 per cent OF the gross
value at the mine, OF its annual out
put. but no deduction shall be made
on account OF expense incurred in
undoing any depreciation OF property,
In addition 20 the reasonable allow
ance for that depreciation.
Seventh All dividends received
upon corporate stock and all other
amounts received from the net earn
ings of any corporation. or joint stock
company, or association, or insurance
company. which IL taxable upon its
net income. under this statute.
Eighth. ANY income, exceeding
| $4,000, the income tax upon which
| has been paid or withheld for pay
ment at its source, as prescribed by
the statute
Ninth. In the case Of President
Wilson, his compensation during his
present term; and in the cases OF all
United States Judges who were In Of
fee at the date OF the enactment OF
| the law, their compensations; and
in the cases OF all officers and all en-
ployees Of any State or political sub
division thereof. their compensations
except when such a compensation Is
paid by the United states.
Tenth. In the case Of any person.
not living with a wife or husband,
$4,000.
Eleventh. In the case OF a man
and his wife living together, $4,000.
Summary.
After the completion Of the total
gross income, on page ?, and gem
eral deductions on page B, you would
enter the summary" ON page 1.
% Under item n" you should en-
ter your total gross income, as shown
on page 2. line r.
az. Under item "2" you should en-
ter your total general deductions, as
shown on page 3. line T.
(3). Under item 3 you should then
enter the balance after deducting the
total Of line 2 from the total of line l,
which would be your met income"
"a. Under item you should en-
ter the total Of all your dividends re-
ceived from corporations, as shown
on page 2, line II. The purpose OF
this entry is TO prevent a double tax.
The corporation paying the dividend
has already paid to the Government
Its ] per cent tax, and as long as you
are only liable for the normal tax
Of ] per cent, the Government viii
not again collect It from you.
(5). Under item IS" you should en-
ter the amount Of income on which |
the normal tax has been either paid |
by yourself or deducted at the source, |
MS shown by the total OF column "A.
page 2, line ..
go. Under item &c" you should |
enter the specific exemption of 81. 500 !
II you are single and $3,333.33 II you !
are married. The allowance Is cal !
culated on the basis of $4,000 per
annum II you are single, and $4,000
IL you are married; but as you are
making your return only from March
/. 1918, to December 81. 1918, you
are only to deduct 5-s OF these ex-
emptions.
met Taxable Income"
To arrive at your net taxable in
come" IL will be necessary TO add
Items 4. and together, and deduct
the total from item s. on this amount
the Government will tax you per
cent unless your Income exceeds |
$50, 600.
When the net income. shown by
line 3 Of page ! OF the form exceeds |
$50, 600, the person Is not only sub
iect to the normal tax OF ! per
cent. but In addition to the so-called |
super tax calculated as follows:
one per cent on amount over S20, /
000 and not exceeding $4,000.
Two per cent on amount over sou,
GOO and not exceeding $4,000.
Three per cent on amount over $780,
600 and not exceeding 100000.
+ Four per cent on amount over
100000 and not exceeding S260.000.
Five per cent on amount over $780,
900 and not exceeding 100000.
Six per cent on amount over
$500 600,
The tax is payable on or before
June !. 1914, II 1t is not paid by
that time, a notice will be sent you
by the Internal Revenue Collector. ad-
vising you OF the amount due, and you
must then make payment within 80 /
days. that is. before July I, 1914,