The Sun. [volume] (Price, Utah) 1915-1932, 1919-03-07

/ lector For This District - Agents
/ Throughout Country Are to Assist
Don't wait until Do, final due
'1tc, March 18th. for paving Your n-
come ,aN and making your return
Nuid the last minute rush. ANY
lcrsDu can figure out bis liability toe
day as we'll as De- ram next week. and
90 there Is any point ON which he
needs advice be- can now get in touch
v Iih O revenue man. This word Of
advice Dis from William &. Whalcv.
collector Of internal revenue. Helena.
Mont. who H. collecting the income
'aN Iu Montana. Idaho and Utah. Col
lcctur Nhalcy is giving without
charge every aid of his office and his
enlarged field force tp help the pee.
nlc got their payments and their re-.
turns in hy March 18TH But the in.
come tan men will NOT pull your door
bell ur your coaitails. according iu
the collectors announcement II IS
squnrcly mp 10 every individual to-
figure uui his own ease and to vrf
busy ii hc comes within the scupc nf
the new revenue law.
Every unmarried person who r..
coivcd income averaging Slg2j week
during 1918 and every married couple
who jointly received income uycrar
ing $500 n week should secure at
once from The nearest deputy collrc.
Tor or the nearest bank y blank Form
iolO-l u That form contains the in
formation he will need 90 enable him
to figure his correct net income and
any iHN that he owes The government.
The law requires that every unmar.
ned person who had a net income of
o. thousand dollars ur over and every
narrrd person whose net income was
two thousand dollars or over tincnd.
ing the income of husband or wife.
and the earnings oi minor children. VI
my must make O. return on or before
March 18th And this requirement
'"cs not hinge ON whether The person
owes tau.
A 10 Taxable Income.
Nm individual must include uudr
gross income nll gains. profits and iu
come derived from salaries, wnp,s or
compensation for personal service at
Whatever Mind nnd in whatever form
paid or irm professions. Noentions.
business, safes or dealings in prnr
criy of an kinds, derived from any
source whatever Very few items of
income are exempt Deductions in.
''udc ordinary and necessary business
expenses. interest paid or accrued ON
indebtedness, taxes of Hll kinds *
ccpi federal income and cNross profits |
faxes md assessments for local hrnp. |
fats, LOSSES actually sustained, debts
nsccrtuincd ~ be- worthless and df.
picciniiou ON building. machinery,
fixtures, md so'orih, usod In bul
ness. \ further deduction b. allowed
Tor contributions ~ corporations
operated for religious. charitable,
scientific ar educational purfaees or
for the prevention of cruelty tn chill
drcn ar animals IL an amount not oN
crcding 10 per cent If the taxpayer.
ret income us computed without the
benefit Of The contribution deduction.
The taxpayer is not allowed to de-
duct any personal living or family
expense, any amount spent for in
proving property ar unv expense at
restoring property nr making good "
exhaustion for which an allowance
claimed under dcprccintian.
Figuring Out the Tax.
before figuring the normal tax The
dividends are deducted ~ credits from
net income. together with the Der
snnnl exception As In previous wears,
dividends Of domestic eorpt rations
are exempt from normal tax when re-
oeiyed by the stockholder. The nor.
nal tax rates for citizens and resi-. |
dents are; On the first $1,000 of net
income IN excess Of the credits tho
rate Is Q per cent On anv further
tnNablo income the rate is ~ per cent .
The surtaN rates apply 10 net income T.
~ each individual IN excess of five /.
thousand dollars. The personal "a I
cmption and the dividends are not de-. .
ductlhle before computing surtay. InI
~" ease of returns hy husband ana
wife, the net income of cnch b. con
fidorrd sopnratoly IN computing any
surtaN that may he due. Form 40. T.
lN4p should be- used for making re-.
turns NJ net income exceeding five /.
thousand dollars and the Instructions
IN that form will show how 10 figur, /.
the surtnN.
Employors and others who paid
wages salaries, rents, interest or sim
liar determinablc gains IN nm amount I.
OF a Thousand dollars or over during
1918 10 any person must file an in
formation return with the govern
mont Blanks may be- secured from
HE collector. Every partnership must /
Ole o return showing its income and
deductions and the name and address
Of each partner with his share of the
Profits on lorse7 DURING the past wear.
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