Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-12-31

Il Taxcs may be paid Ia four insealt-
ments between now ana June IL. II this
arrangement 10 preferred. but the
treasury will open q determined cam.
paign soon TO encourage persons to
pay their tax IN full Immediately. and
receive interest on the advance pay,
ment.
A small army OF accountants. -.
pecially trained for the work in schools
conducted by district collectors for the
past two weeks will go into the fleld
beginning Wednesday to assist persons
in filing their returns. and Will travel
on pre-arranged itineraries for
month or more. In addition. federal
agricultural agents, and representa-
tives Of state and county councils OF
national defense. have enlisted IN the
campaign OF education. BY this cx-
tensive campaign ofSeducakion. Inter-
nal Revenue Commissioner Roper
hopes to eliminate the chances OF fail.
ure to file return thru 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 liberty tar"
because it's proceeds 90 to the same
war cause as the liberty loan bond Is
sues and every effort will be made to
encourage the spirit Of willing giving
among those on whom the tax falls.
About 1000. 700 Will Pay.
About 100000 persons will pay in
come taxes. 1t is estimated, and most
will be subject to direct federal tax
for the first time, for less than 5o0,-
900 paid income taxes last year under
the old law. Tax return forms have
been made as simple as possible, Those
for incomes Of .ess than $4,000 being
free from technical features
or inquisitorial Items.
Corporations will pay income taxso
also, but on Q different basis. Their
net income Is subject to tax OF per
cent under the new war revenue act,
and certain technical deductions are
allowed. Corporation returns are. due
between Jan. and March I. TOR the
calendar year 1917. and companies OPP
Grating on fiscal year basis must re-
port within 60 days after the end Of
the fiscal year.
Beginning tomorrow also. excess
profits returns for the year 1917 Will be
received from corporations. partner
ships and individuals. The last date
for the filing Of these Is March l, the
same as on income returns, and pay
ment must be made also before June
Is, except under the fiscal year arrange
ment.
individuals making more than $4,000
during the year also are subject to an
8 per cent tax on their income above
that amount, independent OF the regu-
lar income taxes. This per cent
levy Is imposed on individuals with no
capital, or with only nominal capital.
such as professional men with money
invested in books, dentist and physi-
clans instruments, or other equip
ment.
Another kind OF tax is laid on excess
profits Of businesses having invested
capital On this basis. taxes on net an
comes or profits in excess OF certain
deductions are at the rate Of 20 per
cent Of the amount OF net incomes IN
excess Of the deduction and not in ex-,
cess OF Is per cent on the invested
capital; Is per cent OF the amount In
excess OF Is per cent and not in excess
OF 20 per cent; IS per cent on the
amount in excess Of 20 per cent and not
in excess Of Is per cent: 40 per cent
on the amount in excess OF IS per cent
and not In excess Of SO per cent, and
60 per cent on the amount in excess
OF 33 per cent So
Before a tax is levied on excess prof.
Its, for 1917, Z business is permitted to
make the same percentage OF profit ON
its invested capital that = made on Its
invested capital during 1911, 1912 and
1913, the so-called .'pre-war period,