The Arizona copper camp., 1919-01-25

tion is being made to handle the larg-
est collection in the history of income
tax
"I am not waiting for the final pas
sage of the new revenue bill by con-
gress," said Collector Franklin this
week, NOR for the new regulations
and blank forms to be issued. To get
this big tax in and get it accurate,
urge that we all begin now.
"The income tax obligations i'm
posed by the old laws, as well as the
measure now in congress, consist of
! two distinct operations One is to
file return or statement of all items
of income and items of deductions al
lowable BY law, and to do this within
the period named in the law. The
other is to pay the tax, if any is due.
when the new bill is enacted into
law, l will have the proper return
foEms distributed throughout the dis
trict, and everybody will be informed
of the date when the sworn statement
my men out to central locations and
to have them travel through the dis
trict aiding taxpayers in the prepara-
tion of the returns and in deciding
doubtful points. We will go right to
the people with the income tax, and
with the cooperation which the public
can give the government men, the re-
turns will be filed by everybody who
comes under the laws provisions, .-4e
right taxes will be paid, and the dis
trict will have done it's full patriotic
duty toward the governments sup
port.
Meanwhile, let me say again, there
is no need of delaying the preparation
of figures. Anything that congress
does now will not affect the amount
of a persons earnings for 1918. Let
us avoid the belated throwing to-
gether of figures that may hit or miss.
Guesses cannot be accepted as the
basis of taxation. 1t is clearly the
duty of every person to compile cor
rect figures and ascertain whether his
income for 1918 was sufficient to
make necessary sworn return.
sThe year 1918 was banner year
for salaries and wages, and the high
war prices brought unusual profits to
the average small tradesman and to
the farmer. The opinion in Washing
ton is that a million citizens and resi-
dents will make this year their first
income tax returns.
sAll signs indicate that the income
tax this year will reach nearly every
workingman and woman, and nearly
every merchant, shopkeeper and
farmer. Not all will have to pay the
tax, but nearly all will be obliged to
make a return of the years income.
81 am, therefore, advising every un-
married person who earned $1,000 or
over during the year 1918, and every
married person, who, together with
wife or husband, earned $4,000, to col
lect all data as follows:
"He must ascertain accurately his
gross income from all sources. There
is his salary or wages, including over
time pay and any bonus received as
additional compensation. A married
person having children under 1S who
are working should include the earn
ings of such children.
eff he sold any property at profit,
the gain must be computed and in
cluded in gross income. If he rented
any property to other persons, the
total rents received in the year must
be ascertained, and from that figure
deduction may be taken for taxes paid
on rented property, the necessary
minor repairs, fire insurance, any in
terest he may have paid on mortgage,
and a reasonable allowance for an
nual wear and tear of the rented prop
erty. The balance is included in the
gross income for the year.
Interest on bank deposits, whether
Withdrawn or added to his bank bal
ances. must be included in all calcu-
lations of income. Bond interest re-
ceived during the year must also De
included, except interest on munich
pal, county or state bonds. Interest
on United States bonds need not be
included by the ordinary bondholdcr
who purchased small amounts. Hold
ers of large amounts of Liberty Bonds,
however should ask their bankers to
write to my office for the rule apply
inE to tax on such interest.
dividends on stock shares are in
come, and must be included in the
gross figures, although the law does
not imnose the normal tax on distri-
buttons made by domestic corpora
tions.
"a person buying and selling mer-
chandise must find his profits for the