Metropolis weekly gazette. (Metropolis, Ill.) 1???-19??, 1918-03-22
FEDERAL income
TAX IN BRIEF
The Requirements Boiled Oc.!n
for Busy Folks.

Returns must be filed on or before
April /. 1918
Tax due may be paid nov or on or
before June -. 1918.
II you are single and your net In
come for 1917 was $1,000 or more you
must file a return.
n you were married and living with
wife for husl,and1 aud had net in
come OF S2OO or more for 1917 you
must fiIe return.
Husbands and ~ifes income mus,
be considered Jointly. plus income OF
minor children.
Income OF minor or incompetent,
derived FROM n separate estate. must
be reported by his legal representa-
tive
Severe penalties are provided for
those who neglect or esade the law.
For false or fraudulent return there
Ii penalty not exceeding 5000 fine
or years imprisonment. or both. plus
100 per cent. Of tax.
For failure 10 make return on or
before April l. 1918. fine Is from so
to 81 ono plus 20 per cent Of tax due.
Returns must be flied With tire Col
lecior ~ Internal Revenue Of district
In which you live.
An agent may file return for per
son who Is IN. absent from the country
or otherwise ln,apacltaled.
81 st,A
sworn or affirmed by person e1eent'
lnr IL.
single persons are allowed 81 90
exemption in computing normal tax.
married person living with wife
Tor husbahd) Is allowed 5000 exemp'
ton. plus 500 for each dependent
child under ls
allowed 5000 exemption II actually
supporting one or more relatives.
Returns must show the entirr
amount OF earnings. gains aud prafiis
received during The year.
Ofheiais and employees are moi tara.
bic on the salaries ar ~Hges received
from state. county. city OF town In
Interest on state and municipal
bonds issued within the u. :. 10 er
empi from federsl Income tax aud
should be omitted.
Interest," on United States govern
meui bonds Ia also exempt. except Oh
individual holdings Of Liberty foprs IN
excess Of 5000 par value.
Dividends are not suhJeet To normal
/ lax. bur must he reported aud included
J In net Income
Gifts and legneies are moi incaine
and should not be Included on the re
turn OF the i,enenclnry
Life Insurance received as hene.
helary or ne premiums paid hack 81
maturity or surrender Of policy Is MOI
income.
Payments recclved FOR reai ar per
sonal property sold j. nai Income. but
the profit realized thereon II income
for the year 81 sale.
Amounts received Ia payment Of
notes or mortgages IL not income. bat
The Interest Oh such notes or mort.
gager l. tsrahle income.
From the entire gross Income Ger
tain allowances are made In arriving
nj the net income
Necessary expenses actually paid IN
the conduct Of business. trade or PRO
fession NAV he claimed.
A farmer can elslm payments for
lnbor. seed. fertilizer. stock feed re
pairs on buildings except his dwelling
/ repair. OF fences and farm machinery
materials aud small tools Tor imIn.di.
ale use
The amount OF rent psid FOR farm
may also lie claimed as tenant farm.
er'k expense.
Payments for live stock sire sllows
BILE II bought for resale. Bui II bouEhi
for breeding purposes cattle are ar In.
veslment. not an expense and cannot
be allowed
A siorekeeper can claim sfnounts
paid for advertising. clerk hire. ieIe.
phone. wafer. light and fuel. also dray.
| age aud freight bills aud cost Of op.
Grating and repairing wagons aud
| trucks
physician can claim cost of his
| professional supplles. rent. once help
telephone. expense Of team or autouao-
| bile used In making professional calls
and expenses attending medical con
| venfious.
| A dentist can claim similar items
| except team or auto expense. which
are not necessary In his profession.
Expenses fhst are personal or con-
neeied in any way with the support or
well being Of . person or family are
not allowable.
| The costs 0f machines Instruments
| vehicles or implements that are more
or less permanent In character are NOT
allowable AS an expense. They are In
| yestmenis.
| Interest paid on a mort gage or other
| personal Indebtedness IL allowable oil
F.! n personal return.
All ts1es paid Within The year can
| be taken out on = federal return. ex-
cepi federal income taxes. inheriiTDre
e.