Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1918-01-05
Matter That Every American Is
Called On to Determine
Without Delay.
MARCH | LIMIT FOR RETURNS
Failure to File Them Involves Severe
Penslties-Taxpayers Will Be AS
sisted by Treasury Officials in
Every County.

FOR every American subject to the in
come tax division of the war revenue
act to figure up his income and file
his return. If he is unmarried and
has a net income of $1,000 or more, or
if he is married or the head of fam
lily and his net income is $1,000 or
more, he must paw the tax. His re-
turn must be in the hands Of the col
lectOr of internal revenue In the dis
trict in which the taxpayer lives or
has his principal place of business be-
fore March /, 1918.
The man who thinks to evade this
tax is making a serious error. Revenue
officials will be in every county to
check returns. Failure to make a cor
rect return within the time specified
involves heavv penalties.
Net income" means gross income
less certain deductions provided for by
the act. The law defines income as
profit, gain, wages. salary, commits
sions, money or its equivalent from
professions, vocations, commerce,
trade, rents, sales and dealingsin prop
erty, real and personal, and interest
from investments except interest from
government bonds, or state, municipal
township or county bonds. Incomes
from service as guardian, trustee or
executor; from dividends, pensions.
royalties, or patents, or oil and gas
wells. coal land, etc. are taxable.
Normal Rate Is 2 Per Cent.
The normal rate of tax is per cent
on net incomes above the amount Of
exemptions, which is $1,000 in the case
IF a married person or head of a fam
lily and $1,000 in the case of single
person. A married person or head of
family is allowed an additional e&>
emption of $500 for each dependant
child if under eighteen years of age
or incapable of self-support because
defective. The taxpayer is considered
to be the head of a family if he is
actually supporting one or more per
sons closely connected with him by
blood relationship or relationship by
marriage, or If his duty to support
such person is based on some moral
or legal obligation
Debts ascertained to he worthless
and charged off within the year and
taxes paid except income taxes and
those assessed against local benefits
are deductible. These and other points
of the income tax section of the war
revenue act win he fully explained by
revenue officers who will visit every
county in the United States between
January and March I to assist tax
payers in making out their returns.
officers to Visit Every Locality.
Notice of their arrival in each local
ity will be given in advance through
the press, banks and post Offices They
will be supplied with income tax forms
copies of which may be obtained also
from collectors of internal revenue.
The bureau of internal revenue is
seeking to impress upon persons sub
tect to the tax the fact that failure TO
see this official in no way relieves
them of the duty imposed by law TO
file their returns within the time speci-
fed.
The penalty for failure to make the
return on time is fine of not less
than $50 nor more than $1,000. and
in addition so per cent of the amount
of the tax due. For making a false
or fraudulent return, the penalty is
a fine not to exceed $1,000 or not ex-
ceeding one years imprisonment, or
both. in the discretion of the court, and
In addition 100 per cent of the tag
evaded