El Paso herald. (El Paso, Tex.) 1901-1931, 1918-01-09
EARNING $1,000?
PAY $40 WAR TAX
Get Right on Your Income
Tax Return at Once, Says
Adclub Speaker.

T have To pay your Uncle sam Foe-u.
as shown by calculations made by act
ing chancellor r. NJ Colvin. Of the
/ College Of the City Of Ell Paso, in
tail, before the Advertising club, We'd
nesday noon at Hotel Sheldon.
However, assuming that every mem
Der Of the club did not earn so much,
Nh. Colvin started with the $1,000 man,
figuring only for single men. married
individuals to be discussed at the next
meeting. If you are single, then. and
earned $1,000 in 1917, you owe the gov
eminent, $50, the taxes increasing as
follows: on $4,000. S40i on $4,000. $50,
on $4,000, 1920.
These figures take into considera-
ton both old and new laws and both
normal and surtaXes.
Penalties For .sSInckers.@
Mr.. COlyin explained that the re-
turns must be made before March l.
subject TO a so percent increase in
tax and a Jail sentence for failure to
do so. A false return means doubling
the tax After the return is made. the
internal revenue department viii cal
culate your tax. and notify you on
June T. You then have until June IS
TO pay, or object After ten days delay
on your part. there is a ten percent
penalty. which increases one percent
for each additional month
Discusses Other War Taxes.
War stamp taxes were also dis
cussed by Mr.. COlvin, who explained
they were due in the following cases.
seven cents on playing cards; on
water passage tickets 10 foreign
ports. not in Canada or Mexico, 81 on
tickets valued TO $50. SO on 500, 50 on
all others no stamps are 70 De
affixed on railroad tickets two cents
on each 500 in notes. drafts and
d Q Z
bank checks being therefore excluded;
five cents on each capital stock GER
tificate Of 500 at time OF Organlza-
ton. and also at reorganization OF
company, If stock has no face value,
as in the case Of some mining stocks.
a five cent stamp is due, stamps are
likewise paid on transfers Of stocks
two cents on each 500 OF produce
sales on exchange.
Penalties up to $1,000 fine and six
months in Jail are provided FOR Nlo-
lating the above laws
Applies To Realty Conveyanees-
ON real estate conveyances, 90
cent stamp must be affixed when the
price is between 500 and $500, with
so cents for each additional 800 over
$500. mortgage liens as part Of pur-
chase price not being deducted on
customs house entries, IS cents is due
/ for S100 worth Of goods, 90 cents on
$500 and 81 on large amounts. On
each proxy TO vote at directors meet
ings. ten cents is payable, except IN
the case Of religious, educational and
similar organizations. on all powers
/ Of attorney. the stamp must be Of the
IS cent value.
At the next meeting OF the club, Mr.
I Colvin viii discuss exemptions al
| lowed by the income tax law, income
taxes due by married persons, and
I s.~H 90. Of s. HsaT
/ recently enacted.
Publicity Work Progressing.
/ Rev. Fuller Swift announced that
about $500 had been contributed 20
the clubs fund for the purchase OF ad-
] vertising space for the war savings
I stamp campaign, while ID L BOWIE
/ reported that publicity work for the
I income tax campaign was progress
/ ing. The gas and electric light com
panies had already agreed to send out
] notices dealing with the law with
their monthly bills, while the water
and telephone companies would prob
/ ably do likewise, he said The adver-
I Using departments Of the daily news
! papers were requesting advertisers %
| call attention in their copy TO the in
I come tax law, it was mentioned.
/ MisunderstnndinEs Not All Local.
President j. i. Benton said that
/ Misunderstanding on the income tax
Z laws were not merely local He had
/ been informed that the City National
l bank OF New York had called in 80
| lawyers 10 decide a certain point
I Fourteen voted one way and 16 an
/ other.
/ J. r. Segau reported the committee
| considering the practicability Of the
I club purchasing advertising rights fol
{ theater curtains was making prog
4 ress. It had been suggested pre-
viously by Mr.. Segall that the clut
should own the curtains and use them
only for dignided short references tc
Red Cross. Liberty Loan and Other
patriotic movements.