The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1917-12-31

the treasury will open a determined
campaign soon to encourage persons
to pay their tax in full Immediately,
and receive interest on the advance
payment.
A small army Of accountants, es-
pecially trained for the work in
schools conducted by district c0Ilec-
into the field beginning Wednesday
to assist persons in filing their re-
turns, and will travel on pre-ar-
ranged itineraries for a month or
more. In addition, federal agricul-
tural agents, and representatives Of
state and county councils OF national
defense, have enlisted in the cam
paign of education. BY this extern
sive campaign Of education, Internal
Revenue Commissioner Roper hopes
to eliminate the chances Of failure to
file a return through ignorance OF
the requirements.
In fact. officials in charge of the
tax gathering machine expect to
eliminate the usual grudging spirit
OF taxpayers. They have called this
a Liberty Tax, because its proceeds
go to the same war cause as the
Liberty Bond issues, and every effort
will be made to encourage the spirit
OF willing giving among those on
whom the tax falls.
Seven Millions Will Pay.
About 100000 persons will pay
income taxes, it is estimated, and
most will be subject to a direct fed
eral tax for the first time, for less
than 100000 paid income taxes last
year under the old law. Tax return
forms have been made as simple as
possible, those for incomes of less
technical features or inquisitorial
items.
Corporations win pay income tax
es also, but on a different basis.
Their net income is subject to a tax
Of per cent under the new war
revenue act, and certain technical
deductions are allowed. Corporation
returns are due between Jan. / and
March 1, for the calendar year 1917,
and companies operating on a fiscal
year basis must report within so
days after the end Of the fiscal
year.
Beginning tomorrow also, excess
profits returns for the year 1917 will
be received from corporations, part
nerships and individuals. The last
date for the filing of these is March
], the same as on income returns,
and payments must be made also
before June is, except under the
fiscal year arrangement.
Individuals making more than S.
900 during the year also are subject
to an per cent tax on their income
above that amount, independent of
the regular income taxes. This s
per cent levy is imposed on individu-
ais with no capital or with only
nominal capital, such a professional
men with money invested in books,
dentist and physicians instruments,
or other equipment.
Another kind OF tax is laid on ex-
cess profits of businesses having in
vested capital. On this basis, taxes
on net incomes or profits in excess
of certain deductions are at the rate
of 20 per cent of the amount of net
income in excess of the deduction
and not in excess of Is per cent on
the invested capital; Is per cent on
the amount in excess OF 10 per cent
and not in excess of 20 per cent; IS
per cent on the amount in excess CT
20 per cent and not in excess Of rs
per cent; 40 per cent on the amount
in excess OF Is per cent and not in
excess Of SO per cent; and so per
cent on the amount in excess OF SS
per cent.
Before tax is levied on excess
profits, for 1917, a business is per-
mitted to make the same percentage
of profits on it's invested capital that
it made on its invested capital DUR
ing 1911, 1912, and 1918, the So
called pre- war" period, providing
this is not more than per cent,
and $4,000 additional for a corpora
tion or $4,000 for partnership or
individual. These are the deductions
which are not taxable.
Definitions OF terms, particularly
the items making up invested
capita" have been made in d nunF-
Der of recent regulations issued by
Commissioner Roper.
Excess profits taxes and income
taxes may be imposed on the same
earnings, If they are sufficiently high.