Elko independent. [volume] (Elko, Nev.) 1915-current, 1918-01-02

tax and excess profits returns begar
with the new year.
Every unmarried person earning
more than $1,000 during the last year
and every married person or head Of
family who made more than $4,000
must file with the internal revenue col
lector OF his district report any time
between now and March l. He will
be notified before June / OF the tax
due. and payment will be due by
June Is.
The government expects to receive
Sl,201 100000 from income taxes be,
fore July l. including s666.OO 900 from
individuals and $685., 900, 900 from cor.
porations. This is more than one third
OF the $1,000. OOO.OOO estimated receipts
under the war revenue act passed by
congress at the last session. From ex.
cess profits taxes. the government ex-
poets t. realize about $1,000, 900, 900 be.
fore July /.
WHAT INDIVIDUALS MUST PAY
The rate of tax for married man
or the head of family is two per
cent on the amount of his net income
exceeding $4,000, but less than $4,000.
and four per cent on the amount of his
net income above $4,000 but less than
$4,000. In unmarried person not the
head OF family will pay two per cent
on the amount of net income above
$1,000 but less than $4,000. and fou.
per cent on the net income above
$4,000 but less than $4,000.
An extra levy, or surtaX, in addition
to the normal tax, is imposed on in
comes about $4,000. so that the amount
OF income between $1,000 and $500 is
subject to a total income tax, includ-
ing both normal and extra, OF five per
cent; and between $500 and 10000.
six per cent. The surtax further in.
creases witt higher incomes. so that
amounts of S1,0O0.0OO are taxable al
sixty.five per cent with one per cent
additional for each halfmillion up to
two million dollars. All Incomes over
the latter amount are taxable at sixty.
seven per cent.
TYPICAL TAXES
Typical income tax leyies on heads
OF families are as follows. Income OF
$4,000. tax is $40: income of SO 600
tax is $50; income OF 50, 800. trx is $50;
income of $4,000. tax is $40; income OF
$4,000, tax is $50; income of $1,000 tax
is $50.
Unmarried persons would pay in
this way: Income OF $500. tax is
$40: income of $4,000, tax q 500: in.
come OF $4,000, tax IA $50; income OF
$4,000. tax 10 SO; income 0! $500,
tax is $50; income o! 900, tax is
$50; income o! $500, tax is 800; in.
come of $1,000, tax is 1920.
Taxes may be paid in four install.
ments between now and June 10. II
this arrangement is preferred, but the
treasury viii open determined cam.
paign soon to encourage persons Ia
pay their tax in full Immediately. and
receive interest on the advance pay
ment.
ARMY or ACCOUNTANTS
A small army Of accountants, cspn
ciaily trained for the work in schools
conducted by district collectors fol
the past two weeks, will 20 into the
field beginning Wednesday 10 assist
persons in filing their returns. and will
travel on pre-arranscd itineraries for
n month or NOR. In addition. fCdcr
al agricultural agents and representa-
tives OF state and county councils OF
national defense have enlisted in tn,
campaign of education. BY this ok
tensiye campaign OF education. Inter
nal Revenue Commissioner Roper
hopes TO eliminate the chances o
failure to Me n return through ignor
ance o fthc requirements.
In fact, officials in charge Of the ta1
machine expect 90 eliminate the II ia
ggudging spirit OF taxpayers. They
have called this Liberty Tax" he
cause its proceeds 20 to the same wa
cause as the Liberty bond issues. and
every effort will be made to encourage
the spirit OF willing giving among
those on whom the tax falls.
IN EFFECT TOMORROW
About 100000 persons will pay in.
come taxes, II is esunatsd, and most
viii be subject TO a direct federal tan
for the ilrst time. Tor less than 500. 0OO
paid income taxes last year under tho
old Law. Tax returns forms have been
mauo as simple rs possible, those for
incomes of less than $4,000 being espe
oislly free from technical features or
indulsitorial items
Corporations will pay income taxes
also, but on different basis. Their
net income "a subject TO tax OF six
per cent under the new war revenue