The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1918-01-05
SOME DISPUTED POINTS ABOUT THE
NEW INCOME TAX LAWS MADE CLEAR


: rs All income TAX.
II is fair because it takes only from
him who has and does not even III
tempt to take from him who mas in''
and 1t takes only III proportion as he
has.
Its equity resides IN the just char
actor of it's distribution. II has small
percentages for the man who has
small income and large percentages
for the man vino has large income
1t takes Il greater proportion OF mo
large income than II takes of the small
, income The smaller incomes pay on
! Il per cent basis. while on the largest
income as high AS 80 per cent IS cN-
> acted.
An income tax Is. la fact. Il profits
tax. If there is no profit. there is no
tax The last income tax law or the
federal government. the act Of Oct s.
lgl7. is for the purpose of raising
money to win the war. II is the plan
Of the government to. raise one-hnlt
: of the expenses Of tho war by the sale
! OF bG1lds and the other halt by taxa
! tlun. Tho collection of this half or the
! expense is in the hands Of the revenue
. collectors aud their deputies in the
, various districts III the United states
! and its dependencies.
Every effort is being made to Inform
! the people especially the taxpayers who
: Will make Il return for the first time
I rs to the making Of the tax return.
The Internal revenue cullccturships
! cooperating with thu chief. clerks oil
/ manufacturing plants and OTHER large
. concerns with Il view to having each
assign an office man TO assist the men
in the shop or in the wurltroums to
! make out their returns. The response
=
| GUS and The collectors arc consulting
! with various trade associations COM
lncrcal clubs. labor unions. farmers
associations. EranSers and other CO.
operative societies with u view to dis
. Seniinutiug information.
In every manner available, they have
been seeking To call attention 10 this
law ana To explain the justice Of it,
especially in the light Of the great
cause for which the tax is being levied.
To assist in financing the war IL has
been found necessary to lower the in
come tax exemption and. therefore, this
year approximately $4,000 individuals
in this district who have not hereto
! fore come in contact with the taxing
machinery Of the government, will be
required to file income tax returns and
pay the tax due
In order TO avoid a great deal OF con-
fusion that might result through mis-
information, it should be remembered
! that every individual. male or female. |
who Is not married and not the head
Of q family and having a net income
for tho calendar year 1917 OF $1,000. and
every married individual whose net in
come for the same period amounts to
$1,000 or more must file n return OH or
before March !. 1915. Blanks for this
purpose will bc mailed tn all indirid-
unls whol have heretofore filed income
tax returns while others may obtain
; same upon application To me at my
office In Columbus. or the deputy sta
toned In the individuals home county.
Deputies In the various counties in
the different districts have been as
signed and for q part of the month Of
January, ut least. there will be n deputy
in tho county seat of each county, who
will assist in the preparation or these
returns and acluaint the taxpayer with
the details Of the law.
To avoid the mistakes due to illeRi-
bility of handwriting. it is suggested
that typcwriting machines be used
wherever possible. ana if same are not
available the name and address or the
taxpayer should be printed.
The tax is calculated upon the net
income and the taxpayer should first /
calculate Aow much money was re-
ceircd during the year from MI sources
in order IL arrive IL the grCSS income.
This gross income should include IN
come from all sources other than gifts.
requests or salary Of state. county or
municipal officials. II the taxpayer Is
a married man. he should also include
in gross income, income of his children
who are under age. He should also In
clude tho income of his wife. il she had
of
From the gross income may be de-
Quoted taxes and interest on any hor-
rowed money. and If engaged in bust !
ness. his business expense. He cannot !
deduct rent paid for his home or any
household expense. Neither can he de-
duct alimc1Iy.
If the taxpayer has been specializing
In stocks during the year and Sus- :
tained a loss, he will not hc permitted .
to deduct it from his income unless he
had gains from similar transactions. .
In other words. If his losses amount !
to $4,000 and his gains $500, he will he
required TO show his gain and Will he !
nermittcd 10 deduct his loss in the same
amount, or $1,000.
BY the foregoing 1t will be seen that !
the ordinary salaricd man viii have !:
little use for that part Of the blank !
which pertains TO deductions.
The law known rs the war income !.
tax is in addition to the income tax
law which mas been in force for some
wears and an unmarried individual hay /
ing a net income In excess Of $1,000. or
married Individual in excess OF $4,000. !
will be required TO pay tax under both !
laws.
4 married man with a salary Of $4,000
would be entitled to an exemption of !
$1,000 and pay tax on $1,000 at per
cent, but if this same individuals sal !
airy Is $50n0 he would pay per cont !:
i'm excess of $1,000 or $50 under the !
new law. and per cent on the amount /,
in excess Of $4,000 or $50 under the !
old law. making n total tax. rs calcu- /
lated under the different laws. Is due
to tho fact that under the old law q |
married mans exemption was $4,000.
In addition to the exemption of $@nn0
under the now law and $1,000 under
the old law. married men or heads Of
families are entitled tn an exemption
Of $500 for each dependent child under
! IS years Of age. or regardless Of age
iC such dependent child is tncapaci- ,
| tatcd on account Of mental or physical
defects. The head Of a family Is one
who is bound through moral or legal
obligations to support one or more in !
dividuals who are closely connected by
blood relationship. marriage or adop- I
. tlun.
Dividends received. from corpora !
tions should he shown on your income 1,
tax return. hui arr not taxable unless
, the dividends; together with income !,
from other sources is in excess of So !
600. Neither are you required To pay !:
tax on interest received from state.
county, tnunictnal government