Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1915-01-29
INCOME TAX REPORTS.

The u. S. Income tax reports of in
dividuals and corporations must be
filed with the Collector of Internal
Reverue on or before March /. The
reports must show the gross income
ing December 81, 1914. The blank
form or return for individuals has
been revised and simplified. Frank
B. Niles, Collector of Internal Revenue
at Toledo, Ohio, is anxious that all
earliest possible date, so that tax pay
ers will not overlook or neglect to
file the return before March 1.
All individual tax payers who file
their returns after March 1, will be
subject to the penalty of so per cent.
of the tax, and in addition to a specific
penalty of from $40 to $1,000. Every
person who had a net income of $4,000
or more during the year 1914, must
file a report. The law allows an ex-
emption of $4,000 to married person
living with husband or wife, but the
return must be filed even if the net
income is below $4,000 but more than
$4,000. Blanks will be mailed upon
request. Failure to receive a blank
on which to make return does not ex-
cuse any person from the penalties
for not making return in proper time.
The Department at Washington ex-
poets tax payers to make complete
and full report, and if tax payers nave
nothing to report under any of the
headings that fact should be shown,
or the reports will be returned for
correction.
All corporations are required to file
report for the twelve months of the
year 1914, or if not engaged in busi-
ness during the entire year, reports
should be made for the period that
business was done during the year.
Corporations which have arranged
with the Collector to file reports for
their fiscal year will not need to make
a report for the calendar year. In
order to file reports for the fiscal year,
corporations must make application
+o and receive permission from the Col
lector of Internal Revenue to file re-
ports for the fi;h.al year, otherwise re-
ports must be ne~le for the calendar
year. Corporat'pns which have not
received blanks should write Collec-
tor Niles, at ToledcNe once.
The law provides that all persons,
firms, corporations, etc, including les
ses of real or personal property, trus-
tees, executors, administrators, receiv-
ers, employers, etc., having the con-
. troll, custody, receipt, disposal or
/ payment of interest, rent, salaries
wages, or other fixed annual gains and
profits of another person exceeding
$4,000 (other than dividends from the
net earnings of corporations subject
to like taxi are required to make and
render return to the Collector on q
form which will be'provided on appli-
cation. Any person, firm or corpora
tion as above enumerated who pays
rent, salaries, etc, to other persons
| including officers of corporations
must make a report. The fact thai
the person to whom such payments are
made prefers to make his individua
return of such income will not relieve
the source from the penalty for fail.
ing to file the return. The source
must Withhold / per cent. of the tota
] paid where the amount during the
year was $4,000 or more, excepting
only in cases where such persons hav'
filed with the source a certificate
! claiming the exemption of $4,000 OF
! $4,000, in which case the source will
withhold per cent on the amoun
above the exemption claimed.
Collector Niles states that from
: his observation of personal incom,
! tax returns filed, it is very eYiden
: that a great many corporations, etc.
do not understand the law with res
pect to the Withholding of tax.
A copy of the law and regulation
! on this subject will be mailed to an!
: one on application to Collector Franl
> h Miles at Tnladn 0hin