The Knoxville independent. [volume] (Knoxville, Tenn.) 1894-current, 1919-02-22
This Tells ..l 10
flour ColE TAX
SquareIy Up to Every Individual
to Get Busy BY March IS
or Suffer Penalty.

"Don't wait until the final due date,
March 18th, fH paying your Income
Tax and making your return. Avoid
the last minute rush Any person can
figure out his liability today as wen as
he can next week, and if there is any
point on which he needs advice he can
now get in touch with Revenue man.
This word of advice is from Edward
B. Craig, Collactcr OF Internal Heye-
nue., Nashville, VINO is collecting the
Income Tax in Tennessee, Collector
Craig is giving without charge every
aid of his office and his enlarged field
force to help the people get their pay
ments and their returns in by March
18th
But the Income Tax men will not
pull your door-bej or your coat-tails,
according to the Collectors announce
ment. Ii is squarely up to every indi-
vidual to figure Out his own case and
to get busy if he comes within the
scope Of the new Revenue law r..
Did You Earn This Much?
Every unmarried person who receiv-
ed income averaging $1925 week
during 1918 and every married couple
who Jointly received income averaging
| $3.50 a week should secure mt once
| from the nearest Deputy Collector or
the nearest bank blank Form 1910 A,
| That form contains the information he
will need to enable him to figure his
correct net income and any tax that he
owes the Government
The law requires that every unmar-
ried person who had a net income Of
$1,000 or over and every married per
son whose net income was $1,000 or
over Gncludng the income of husband
or wife, and the earnings of minor
children, il any) must make a return
on or before March 18th. And this re-
quirement does moi hinge on whether
the person owes a tax.
Taxable Income.
An individual must include under
gross income all gains, profits and in
come derived from salaries, wages, or
compensation for personal service Of
whatever kind and in whatever form
paid, or from professions, yocations,
business, sales or dealings in property
of all Kinds. interest, rent, dividends,
or profits derived from any source
whatever. Very few items Of income
( are exempt.
| Deductions include ordinary and nee
essary business expenses, interest paid
or accrued on Indebtedness, taxes Of
| all kinds except Federal income and
excess profits taxes and assessments
Efor local heae9tsA] ~sses actually sus-
| tained debts aseertained to be worth
less, and depreciation on buildings ma
chinery, fixtures, etc, used in business
A further deduction is allowed for con
tributiOns to corporations operated for
religious, charitable, scientific or edu.
cational purposes or for the prevention
of cruelty to children or animals to an
amount not exceeding Is per cent OF
the taxpayers net income as computed
without the benefit of the contribution
| hSNhNllOli'
The taxpayer Is not allowed to de
duct any personal living on family ex
pense, any amount spent for improving
property, or any expense of restoring
property or making good its exhaus
ton for which an allowance is claimed
under depreciation.
Figuring the Tax
Before figuring the normal tax the
dividends are deducted as credits from
net income, together with the personal
exemption AS in previous years, diyL
dends of domestic corporations are ex
empt from normal tax when received
by the stakeholder.
The normal tax rates for citizens
and residents are as follows: On the
first s$4, 900 of net income in excess Of
| the credits the rate is 6 per cent or