Lincoln County times. (Jerome, Idaho) 1911-1919, 1919-01-30

Income Tax Collector Warns Biz
Drive Now Under Way

-H-
The big income tax drive OF 1919 II
Is now under way and every prepara-
tion Is being made to- handle the
largest collection in the history OF
income TAX II am not waiting for
the final passage of the new revenue
bill by congress. said Collector w. c.
Whaley, OF Helena, NOR for the new
regulations and blank forms to be
Issued. To get this big tax in. and
get 1t accurate and complete. | urge
that we all begin now
1.-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
the 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.
Neither OF these obligations can
be met without careful review OF
income and expenditure for the tax
year. That is the big job right now.
and that is why | say the income tax
drive is already under way Every
where the pencil is busy. The old
year is done; all its fruits are CLEAN
ed; and every person who Jared we'll
or earned a good competence must
analyze his own case In cold figures
Help on Doubtful Points
4. t..,<
law, | will have the proper return
forms distributed throughout the
district, and everybody will be in
formed OF the date when the sworn
return must be filed. 1t is my plan
TO send my men out to central loca-
tions. and to have them travel
through the district aiding taxpay-
ers In the preparation OF the returns
and In deciding doubtful points. We
will go right to the people with the
income tax. and with the co-opera-
tion which the public can give the
government men, the returns viii be
fled by everybody who comes under
the laws provisions. the right taxes
will be paid and the district will
have done It's full patriotic duty to-
ward the governments support.
Meanwhile. let me say again
there is no need OF delaying the pre-
paration OF figures. Anything thai
congress does now will not affect th'
amount OF n persons earnings fol
1918. Let us avoid the belatet
throwing together OF figures tina
may hit or miss Guesses cannot b'
accepted as the basis OF taxation. ]
Is clearly the duty OF every persoi
to compile correct figures and as
certain whether his income for 1911
sworn return.
First Returns for Many
''The year 1918 was a banner yea
for salaries and wages, and the hig
war prices brought unusual profit
to the average small tradesman an
10 the farmer. The opinion 1
Washington IS that 1000 900 citizen
and residents will make this yea
their first income tax returns.
All signs indicate that the II
come tax this year will reach near
every working man and woman, an
nearly every merchant. shop keep'
and farmer. Not all will have
pay the tax. but nearly all Will
Obliged to make a sworn statemel
OF the years income.
"I am. therefore. advising eve
unmarried person who earned s1o'
or over. during the year 1918, al
every married person. who. togeth
with wife or husband. earned 5000
to sharpen his pencil and figure o
how he stands
"He must ascertain accurately !
gross income from all sources. The
is his salary or wages. including 9
ertime pay and any bonus receiv
as additional compensation. A ma
ried person having children under
who are working. should include I
earnings of such children.
Profit Must he Figured
III he sold any property at a p
IT. the gain must be computed q
included in gross income. II
rented any property to other perso
the total rents received in the "
must be ascertained. and from q
hgure a deduction may be taken
taxes paid on rented property,
necessary minor repairs. FIRE ins
ance, any interest he may have y
on mortgage. and reasonable
lowance for annual wear and tear
] the rented property. The balanc'
h gross income for the year.
n Interest on bank deposits. whs
i or withdrawn or added to his bl
ii balances. must be included In all