Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1919-03-13
PAY AND FILE
INCOME TAX
BEFORE MAR. is
u. S. Internal Revenue Bureau
Gives Warning That Severe
Penalties viii Be Enforced.
WOMEN WITHIN LAWS SCOPE;
HOW THEY REPORT INCOME

The Income Tax drive COMES TO
close on Saturday night. March 10.
The payments and returns due on
that date under the provisions of the
new Revenue Law must be in the hands
OF local Internal Revenue Collectors
before their offices close that night.
The Income Tax is being collected to
meet the war expenses. Every person
who shouted and footed his horn on
Arnlistlce Day is now called upon to
contribute his share of the cost of win
alng the war.
The laggards and the dodgers VIII
face severe fines and jail sentences.
The Internal Revenue Bureau an
nOunces that its officers will check us
all up to see that every person who
comes within the scope of the Income
Tax law did his share.
Where to Pay and File.
Residents of Tennessee are required
To make their returns and pay their
taxes to Edward L. Craig, Collector or
internal Revenue, Nashville, Tenn, or
to any OF his deputy collectors who
are now doing free advisory work on
Income Tax.
Payments sent by mail should be at
tached to the returns and should be In
the form of check, money order or
draft. Cash payments by mail are
sent ct the taxpayers risk Of loss.
IL you are una5lc to make your re-
turn personally because of Illness, ALB
sence or incapacity an agent or legal
representative may make your return.
If there are any doubtful points as
to your items Of income or allowable
deductions you should get in touch. at |
once with a Revenue officer or bank
er for advice
Women Pay Tax.
Women are subject to all the re-
quirements of the Income Tax. Wheth-
err single or married, Il woman'S income
from all sources mist be considered.
If unmarried or If living apart from
her husband she must make her return
for 1918 if her net income was $1,000
or over.
If married and living with her hus-
band her income must be considered
with the husbands in determining the
liability for return. Their joint in
come, less the credits allowed by law,
is subject to normal tax. The wife's
net income is considered separately In
computing any surtax that may be
due. Husband and wife file Jointly, as
rule. II the husband does not in
Guide his wife's income III his return
the wife must file separate return.
Severe Penalties.
The new Revenue Law places severe
penalties on a person who fails TO
make return on time, refuses to make |
return or renders a fraudulent return.
For failure to make return and pay |
lax OH time a fine of not more than
$1,000 is named and % per cent of the
tax due is added to the assessment. |
Tor refusing willfully to make return |
Or for making q false or fraudulent re-, |
turn there is fine of not exceeding |
$4,000 and Imprisonment of not eX- |
cecding one year, or both.
Farmers income Taxable.
Every farmer and ranchman who |
Ind Il fair or a good year in 1918 must |
heed the Income Tax this year. He |
must consider all his income as tax
able. He is entitled to deduct from |
his gross income all amounts expended |
in carrying on his farm. The cost of !
farm machinery, farm buildings and |
cannot be deducted. The
cost of live stock, either for resale or
for breeding purposes, is also regarded
as investment
Overtime and Bonuses Taxed.
Salary and wage earners must con-
slider as taxable every item received |
from employers and from other
sources. Bonuses and overtime pay
are to be reported as well as the regu-
lar payments.
Allowances for Losses.
Losses sustained in 1918 and not
covered by insurance are deductible
items it incurred In the taxpayers /
business or trade, in any transaction
for profit or arising from
Are, storm, shipwreck or other casu-
atty or from theft.