Mountain Home Republican. [volume] (Mountain Home, Idaho) 1915-1946, 1918-03-16
Concise Statement of What
Will be Required of Every
Taxpayer in Reports and
Cash.
TIME EXTENDED TO
FIRST OF APRIL
Everyone Receiving Income Equal
to Amount Requiring Payment
Must Have Report Made Out and
Filed on that Date.

Returns must be filed on OF before
April l, 1918.
Tax due may be paid now or on or
before June 10, 1918.
II you were single and your net In
come for 1917 was $1,000 or more you
must file return.
II you were married and living with
wife (or husband) and had net in
come of $1,000 or more for 1917 you
must file a return
Husbands and wife's income must
be considered jointly plus income Of
minor children
Income of minor or incompetent,
derived from separate estate, must
be reported by his legal representa-
tive.
Severe penalties are provided for
those who neglect or evade the law
For false or fraudulent return there
Is a penalty not exceeding $1,000 fine
or years imprisonment or both, plus
100 per cent. of tax.
For failure to make return on or
before April l, 1918, fine is from $40
to $1,000 plus so per cent. of tax due.
Returns must be filed with the Col
lector of Internal Revenue of district
in which you live.
An agent may file return for q per
son who Is i'll, absent from the country
or otherwise incapacitated
Each return must be signed and
sworn or affirmed by person execut-
ing It.
Single persons are allowed $1,000
exemption in computing normal tax.
A married person living with wife
(or husband) is allowed $1,000 exemp-
tion, plus 5000 for each dependent
child under 49,
A head of family, though single IS
allowed $1,000 exemption IL actually
supporting one or more relatives.
Returns mu4t show the entire
amount of earnings, gains and profits
received during the year.
Officials and employees are not taxa
BILE on the salaries or wages received
from q state, county, city or town In
the United States.
Interest on state and municlpal
bonds issued within the y. s. is ex-
empt from federal income tax and
should be omitted.
Interest on United States govern
ment bonds is also exempt except on
individual holdings of Liberty Fours In
excess of $1,000 par value
Dividends are not subject to norma
tax, but must be reported and included
in net income
Gifts and legacies are not income
and should not be included on the re
turn of the beneficiary.
Life insurance received as a bene-
flciary or as premiums paid back at
maturity or surrender of policy is not
income.
Payments received for real or per
sonal property sold is not income, but
the profit realized thereon is income
for the year Of sale.
Amounts received In payment of
notes or mortgages is not income. but
the interest on such notes or mort
cages is taxable income.
From the entire gross income GER
ona Ia In, rixyf,,
at the net income.
Necessary expenses actually paid in
the conduct Of business. trade or pro
fession may be claimed
A farmer can claim payments for
labor seed fertilizer, stock feed re-
pairs on buildings except his dwelling;
repairs of fences and farm machinery,
materials and small tools for immedi
ate use
The amount of rent paid for farm
may also be claimed as tenant farm
er's evnense
Payments for We stock are allowa-
hle If Fought for resale. But II bought
for breeding purposes cattle are an in
vestment, not an expense, and cannot
be allowed.
storekeeper can claim amounts
paid for advertising, clerk hire. teIe-
phone, water light and fuel also dray
age and freight bills and cost of op
Grating and repairing wagons and
trucks
A physician can claim cost of his
professional supplies rent. office heln
telephone expense of team or autom0
bile used IN making professional calls
and expenses attending medical con.
ventions
dentist can claim similar items.
except team or auto expense which
are not necessary in his profession
Expenses that are personal or con.