The daily banner. (Cambridge, Md.) 1897-2008, 1918-02-07

Value of property acquired thru
will or by inheritance. 1t must be
understood. however, that the in
come received from such property l.
taxable
Proceeds Of life insurance policies
heturns Of premiums Oh life eli
loume..t and annuity policies.
Iutcry... on bonds and other obi
cations OF the jaitcd States Govern
.npnt on lis pos cs>ioms and OF amy
state or political subdivision OF
state such IL city. town, county OF
village.
In,cIca; on The Second Liberty
Bond issue Of September -, 1911.
% an aiuount LaJ exceeding $4,000
of such bonds If you own more
than that amount the interest on the
additional bonds is exempt from the
normal tax. but not from the sur1aN.
Interest on securities issued IN
der the provisions OF the Federal
Farm Loan Act OF July l.. 1916.
Salaries of officers and employees
Of a State or political SUBDIVISION Oh
State. including school teachers
In addition to the normal rate OF
per cent he act of 1917 imposes
an extra levy or surtaX ranging from
| par cent on incomes between So
auU and 5000 TO so per cent. on
incomes in excess of 81 ,000.0 900. The
act OF 1916 in addition 10 the nor
NAL tax imposes a sultaA ranging
from ! per cent. on incomes be
tween $4,000 and $4,000 TO Is
pei cent on incomes of more than
$4,000. 600. The total tax on in
comes of more than 2,00o,O0O.
therefore, is 81 per cent.
If by reason Of illness or absence
from the United States you are I'M
able personally to render a return,
YOU may appoint an agent to act Tor
vit that he has sufficient knowledge
of your affairs to make return for
you and be willing to assume respon-
sibility for a delinquent, false or
fraudulent return.
The task OF collecting income tax
es devolves upon the Bureau of In
,ernal Revenue. The Bureau is send
.ng into every county in the United
States revenue officers to assist tax
payers in making out their returns.
The location of their offices may be
lscertained by Inquiring of the office
of the collector of internal revenue,
your bank or the postmaster. They
will furnish you with blanks, answer
any and all questions as TO how TO
fill them out and swear you to your
returns. each OF which must be ac-
companied by an affidavit.
If your income was not more than
SO .000 ask for Form 1040A. II IL
was more than $4,000, ask for Form
l040. The services of the Govern
ment experts are offered without
cost, but should you fail TO see them
you are not relieved of the duty i'm
posed by law TO file your return
within the time prescribed. The
Government is not required to see
he taxpayer. The taxpayer must
/ seek the Government. Payment of
The tax must be made on or before
June Is, 1918.
The man who thinks to eyade the
income tax is making a serious er-
cor. \ checking system viii inform
he Government of delinquents. I'm
der what is known as the 'informa-
ion at source" provision OF the act
Of 1917, employers are required 10
die with the Commissioner of Inter
nal Revenue a true report of the
wage OF $500 OF more paid to each
employee during the year 1917. The
Government has other methods OF
keeping tab on delinquents.
The penalties are severe. For
failing to make a return on time the
penalty is a fine of not less than $40
nor more than $1,000, and in addi-
lion so per cent. of the amount due.
For making a false or fraudulent re-
turn, the penalty is a fine not eX-
ceeding $4,000 or one years i'm
prisonment, or both, in the discre-
ton of the court, and 100 per cent.
of the tax due. For failing to pay
on time the penalty is ssauSssessment
OF 5 per cent. of the amount of tax
due plus l per cent. interest for EACH
fuIl month during which it remains
unpaid.
Last year 100000 persons paid an
income tax. This year the number
assessed will be more than 6,000,,
900. If you are one of them remem
Der that your dollars are for the sup
port of the war and that by prompt
Iy filing your return and promptly
paying your tax you are helping the
Government towards early victory.
The more quickly the victory is won
the more quickly will the income tax
be cut down on big incomes and cut
off entirely on small incomes. Pay
your income taxes to insure your
income.