The Delta independent., 1919-01-24
IMPORTANT INFORMATION IN
REGARD TO INCOME TAX

Denver, Colo, Jan. 20. 1919.
'"The big Income Tax Drive of 1919
is now under way. and every prepar-
alton is being. made to handle the
largest collection in the history of
Income Tax" 81 am not waiting for
the final passage of the new revenue
bill by congress-" said Collector Mark
A. Skinner today, NOR for the new
regulations and blank forms to be is
sued. To get this big tax in and
get it accurate and complete, urge
that we all begin now"
"The income tax obligations i'm.
posed by the old laws, as well AS
the new measure now in consr=' IS
consist of two distinct ope =: ion,
One is, to file return or staten ent
of all items of income and items If
deductions allowable by law, and to
do this within the period named IN
the law The other is, to pa.y the
tax. if any is due.
"Niether of these obligations can
be met without a careful review of
income and expenditure for the tax
year That is the big job right ~ow,
and that is why l say the income tax
drive is already under way Every
where the pencil is busy. The old
year is done; all its fruits are
cleaned: and every person who Jared
WELL or earned good competence.
must analyze his own case in cold
figures.
when the new bill is enacted into
law, l will have the proper return
distributed throughout the district,
and everybody will be informed of the
date when the sworn return must be
filed. 1t is my plan to send my men
to central locations, and to have them
travel through the district aiding
taxpayers in the preparation of the
returns and in deciding doubtful
points. We will go right to the peo-
pie with the income tax. and with
the cooperation which the public can
give the government men, the returns
will be filed 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
toward the governments support.
meanwhile, let me say again, there
is no need of delaying the preparation
Ol llSuIeS. Ally lidt SOhSlCo
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
correct figures and ascertain whether
his income for 1918 was sufficient to
make necessary a sworn return.
"The year 1918 was banner year
for salaries and wages. and the high
war prices brought unusual profits to
the average small tradesman and to
ington is that million citizens and
residents will make this year their
first income tax returns.
"All signs indicate that the income
tax this year will reach nearly every
working man and woman, and nearly
every merchant shop keeper and
farmer. Not all will have to pay the
tax, but nearly all will be obliged
to make a sworn statement of the
years income.
II 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 $1,000, to
sharpen his pencil and figure out
how he stands.
"He must ascertain accurately his
gross inco me from al sources.
There's his salary or wages, includ-
ing overtime pay and any bonus re-
ceived as additional compensation.
A married person having children un-
der 18 who are working would in
clude the earnings of such children.
"If he sold any property at profit,
the gain must be computed and in
cluded in gross income. If he rented
property to other persons, the total
rents received in the year must be
ascertained, and from that figure a
deduction may be taken for taxes paid
on the rented property, the necessary
minor repairs. fire insurance. any in
terest he may have paid on mortgage,
and reasonable allowance for annual
wear and tear of the rented property.
The balance is included in gross in
come for the year.
Interest on bank deposits, whether
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