The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-06
AN0THERPRIMER
ON INCOME TAX
Instructions Issued for Max
ing Returns by In
dividuals.
ALSO OFFICIAL FORM
Net and Gross Incomes Must
BE Stated Under
Oath. y,
PENALTIES FOR FAILURE
Worthless Debts and Uncovered
Fire Losses May Re
Deducted.


Income OF an individual under the in
come section OF the tariff law.
The form will be known officially as
1890. At tho top OF the f,rst page Of
the form. which Is a four page circular,
IA the following warning in heavy black
type:
The penalty for failure to have this
return in the hands OF the Collector OF
Internal Revenue on or before March l il
go to $1,000"
Then follows on the frst page n blank
form to cover the income from March
to December 81, 1918.
The blank Is SO arranged that II may
show a filing by an Individual on his
own behalf or through an agency. In the
case. say, OF John Doe Of New York the
statement will proceed as follows:
Filled by Cor for) John Doe OF 20
Nassau street, in the city Of New York.
State OF New York"
Then will follow these Items
II. Gross income.
"2 General deductions according to
instructionS.
-. Net income"
Then follows a sub-head:
deductions and exemptions allowed in
computing income. subject to the normal
tax Of per cent
Following that comes the further emu
Grafton of items:
-. Dividends and net earnings re-
ceived or accrued. OF corporations, &C.,
subject to like tax.
IS. Amount OF income on which the
held at the source.
It. Specific exemption Of $4,000 or
$4,000, as the case may be.
Then follows as a matter OF substrac-
ton in the table:
Total deductions and exemptions GOV.
cred by items Z. and g.: and finally
~. Taxable income on which the nor.
NAL tax Of per cent. Is to be calculated.
The Graduated surtax.
Following the first and simple form
u the instruction for returning an in
come in excess of $50 600 subject to tn,
surtax. This is table covering tn,
graduated surtax on incomes from s2O
900 Up to 100000 and at the bottom o.
tho first page the taxpayer Is required
TO add together the total additional Of
supertax and the total normal tax Of
per cent. to obtain therefrom tho tota
tax liable.
Page 2 is a form for returning gross
income and requires that the Taxpayer
must show in the proper spaces the zen
tire amount Of gains. profits and incom,
received by or accrued to the individual
from all sources during the year speci
Ned on the first page"
In parallel columns the returns unde
this form are required to show "for eacl
or eight separate items hereafter enumer
ated. (a) amount of income on which Ia,
has been deducted and withheld at th,
source, and (b) amount of income Of
which the tax has not been deducte,
and withheld at tho source"
Under tho heading Description Of In
come" are the following items for which
returns in the parallel columns are re
CURED:
II. Total amount derived from sala
Pies. wages. or compensation for per
sonal service or whatever kind and what
ever form paid
":. Total amount derived from profes
sions, vocations, business. trade com
merce or sales or dealings in property
whether real or personal. growing out o
the ownership or use of or interest in rea
or personal property, including bond.
stocks. &c.
80. Total amount derived from rent
and from interest on notes, mortgages an
securities (other than required under Ger
tain under items).
Partnership PROFITS.
-. Total amount of gains and profit
derived from partnership business. whethe
the same be divided or distributed or no
-, Total amount of fixed and determin
able annual gains, profits and income de
rived from interest upon bonds and mort
cages or deeds of trust or othe
SIMILAR obligations OF corporations, join
stock companies or associations and In
surancc companies, whether payable ar
uunliy or at shorter or longer periods.
- Total amount OF income derive
from coupons, checks or bills of eS
change for or in payment Of interest upo
bonds issued in foreign countries an
upon foreign mortgages or Ike obligs
tons mot payable in the United States
and also from coupons. checks or bills {
exchange for or in payment Of any div
dends upon the stock or intere
upon the obligations of foreign corpora
tons. associations and insurance con
panies engaged In business in foreig
countries.
~. Total amount Of income receive
from fduciaricA
e. Total amount Of Income derive
from any source whatever. not specific
or entered elsewhere on this page"
Then In item 10 follow the totals Of Il
aggregate totals Of the parallel column
taan II requires q return Of the tot
amount Of income derived from dividen,
Ism the stock or net earnings Of corpor,
0sak. jeht stock companleA association