The Canon City record with which is consolidated the Canon City cannon., 1918-01-24
INCOME TAX
EXPLAINED BY
MARK SKINNER

2
Honorable Mark Skinner. internal
! Revenue Collector for the district OF
Wyoming and Colorado, enlightened
about five hundred peop'e concerning
their Income Tax and Excess Profits
tax schedules at the Chamber OF COM
merce meeting Thursday night
Altho various phases OF the new
law are somewhat hazy because def.
mite explanations of different provis-
ions OF the law have not been handed
down, Mr.. Skinner showed that he had
very good idea of what is required
If the people by the new law and told
what he knew in an understandable
manner.
In order to get money enough to
carry on the war with Germany the
government adopted two methods, one
the Liberty Loan and the other the
Liberty Tax" which of course the
people know as the Income Tax. Il
win reach nearly every citizen In the
community in one way or another.
Mr.. Skinner said that If the boys
who are to fight over there are fully
and adequately eiuipped. the money
must be raised and must come from
the citizens and in his opinion man
who failed to fay his income tax or
evaded its demands by some technic-
aity was Just as great a traitor and
Stacker as the man who deserted his
companions on the firing line.
Mr.. Skinner doesn't look upon the
payment OF the Income Tax as a duty.
He says it is patriotic privilege
privilege to contribute towards a
period and situation in history which
Till never occur again because he be-
l;eves that the war now waging is
the last great one
Under the pre-war law in 1917 the
income tax collected amounted to
1888. .ef7, 1918. 1t is estimated that
under the present law the income tax
collected up TO June so. 1918 for In
dividuals will amount to $3.50, ,000. 900
and for corporations. s535, ,oeO, 900.
making a total of s1.1e5. 90. 900. Mr..
Skinner says the Excess Profits tax
will bring in s1.22s. 100000 and the In
heritance tax. $1,000, 600.
There are in reality two income tax
laws. the pre-war law and the newer
one which was passed October 3, 1917.
While both laws are still in force.
many more persons will make their
returns this year than last This law
OF October 3rd, 1917 was responsible
for the reduction of the income tar
exemption of a single person of 81. 900
and of a married person when living
with husband or wife. to 81, 900, plus
5000 for each child under eighteen
years OF age and, over IS years OF
age IL incapable mentally or physical
ly of self-suport
Married persons when not living to-
gether are classed as Single in the
matter of the income tax.
A single person who is the head of
n family may lay claim TO an exemp-
tion of $4,000. under certain condition.
A married person receiving a net
income of $4,000 must make out the
schedule A single person receiving
a net income of $1,000 must also
make out a schedule. In case of doubt
on the part of any person the sched-
ule should be made out in order to be
on the safe side. The tax starts on
the amount of the income above 81
coo and $1,000 respectively.
Don't expect blanks to be sent you.
Ask for them. You can get them now
at the Chamber OF Commerce or the
Daily Record. where limited supply
has been left. You can always get
blanks by writing the U. s Collector
of Internal Revenue. Denver, Colo.
II. r.,,-....l