Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1918-02-14
EXTENSION Time
limited TO FEW
~ Corporation and Excess Profits
returns Given Additional Month
to Report.
ra,LECTOR M'CABE NSTRUCTS
an Individual Income Tax Returns
Must Be Filed With Inspector
Before March /.

f,rdinarily all persons who come
,.der the provisions Of the income
:, law must make a return before
NAfch 1.
An extension Of time from March 1
"a April / has been allowed all cor
CITATIONS and excess profits reports.
~ NO others. 1t is therefore advis-
mia for all persons affected to report
= the local inspector prior to March
u be on the safe side, as heavy penal
,iss are inflicted where the returns are
ID. made in the time prescribed.
Ia a circular letter received from
rollecto- f. d. McCabe, at Peoria, ILL.,.
h asks that all corporations having
~ income during year 1917 of more
than So 600 90 and all individual men,
bsrs Of partnerships, where the part
psrship net profits for the year 1917
exceeded 100000, as well as individ-
uaIs who enjoyed salary, wages and
commissions, income from professions
~ business, in excess Of 100000 net
daring the calendar year 1917, refrain
,rpm making up and filing corporation
or Individual income tax returns for
me year 1917 on the prescribed forms
1881, or 1910, as the case may be, even
though they are In receipt of such
forms until after they have received
form 1101 which is the form to be
used for reporting excess profits tax
on the net income for 1917. Excess
proHts tax, If any, will be credited to
Or taken from the net income before
cvmputing the income tax, therefore.
II the corporation, member Of part
uership or individual has a liability
for excess profits tax the return OF
schedule Of income should not be made
up until excess profits tax forms and
regulations have been furnished ii
order to receive the benefit of such
credit. However, salaried or independ
ent professional individuals may make
excess profits report or form 1O4O ant
take credit therefor.
Excess profits blank forms will b
nailed to every corporation, partner
ship and Individual whose name TIL
collector has and supply will also b.
furnished to every postmaster ant
banker in ample time to make up al
required returns and the collecto
asks that liable taxpayers refrain from
asking for such forms inasmuch a
envelopes are already addressed wait
ing to be filled on receipt Of forms an
regulations and will then be forward
ed in the mail Immediately.
The collector also asks that farmer
and stock raisers liable for all in
come tax return for 1917 be advise
that no depreciation will be consid
cred on dairy cattle or work horse
which were raised by the taxpayer
but that they may claim depreciatio
on work horses, dairy cattle and breed
ing stock purchased.
The collector appeals to every liabl
citizen to file his or her return with
the time prescribed by law, taking a.
allowable deductions, and not to della
their act, thereby laying themselve
liable and subject to the imposition {
heavy penalties and prosecution.
Receipts Delayed.
The collector also advises that ia,
payers who have made returns an
remittances for the tax due shout
not worry if they do not recei,
acknowledgment of receipt Of retur
and remittance. If same was deposi
ed in the postofice, postage fully pal
the form was received, but the rush
such that an audit cannot be made III
til some time later. Acknowledged
of receipt of returns and remittance
will be made as soon as it becomes
physical possibility.