The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-02-28
TAXABLE INCOMES
NOT ALWAYS CASH,
SAYS COLLECTOR
Taxpayers Have Until
March IS to Make
Returns

Taxpayers, In making out their
income tax returns, should remem
her that taxable incomes ARE not
necessarily cash, according to y. &.
Hernandez. collector OF the Inter-
nal revenue office here. Taxpny-
ers have until March IS to file
their returns.
For example" said Mr.. Her
nnndez today. the value of NOR
chandiSe received by a clerk OF a
grocery store A. part payment for
his services must be reported as
Income. Compensation paid an
employe Of n corporation in shares
OF stock IN to he trea'cd as II the
corporation uoid the stock at It's
market value and paid she EN-
nloyc In cash.
"Promisaory notes received In
payment For services and not
merely as security TOR such pay
ment constitute income to the
amount Of their talr market value
living quarters and meals furnish
ed as compensation fer services are
~ be reported NJ Income. a hotel
clkrk given n and his meals
~ part payment for his services n
required to report as income no
amount he would have 20 pay for
board and lodging elsewhere.
The value % quarters. light and
heat furnished army officers.
whether stationed Mt an army post
az paid from funds allowed for
such purposes whom officers are
stationed elsewhere. T. taxable in
come In an amount equal TO the
cost - the government ~ furnish
Ing such quarters, etc. Where m
officer or enlisted man IL allowed
- -. -
quarters. light and heat the entire
amount received for such purposcR
for the taxable vcar must be in
Guided In gross income.
Where living quarters. food.
clothing. etc. are provided for an
empioye solely for the convenience
~ an employer. the value thereof
| need not be included In the Income
81 the ompioye For example
| where because ~ tho location and
| nature 81 the work II IL necessary
that employees ENGAGED In fishing
md canning be furnished board
and lodging 10y the employer, 'he
4 value Of such board and lodging
may he considered a. contributed
f1r the convenience 81 the em-
Iployer BOARD and lodging fur
nished seamen In addition 20 their
other compensation II held TO he
Furnished FOR the convenience ~
the employer. and the value there
of need not be reported In the re-
Hurns Of such emplayes. Uniforms
ratlons and medical or hospital
service afforded enliSted men or
reamen need not be reported as
Income. These are furnished by
ne government for its own pur-
nnses and are not compensation
for service.
We value Of board and lodging
Furudshed employees OF hospitals NJ
part compensation Tor services II
o he reported as income II how
tver. an employe Of n Hospital H.
ubjecA' 80 Nhncliatet seryicc on
Iiomnnd Al any time during tho
wenty-four hours ~ the day and
In that account T. obliged 20 nr-
opt uunrters and meals ut the
h~.nI'al the value of such need
OF be reportcd NJ income II the
mpiova II on duty n certain mum
per ~ hourg and could, N desired
~ h3atn r,enls md LODGING elee-
rhera than 81 the hospital and AZ
Zhc same time perform the duties
Xenulroh ~ him the ratahle value
Z 'he board and lodging furnish
Il him IL considered additional
Ornpansion.
'.Tbe value Of quarters. sub
hstcnco. laundry. heat " hghl
FINISHED officers and employees OF
ha public health service constitute
rcome and must be included In
heir .turu FOR the year.
ITO avoid penalty. returns must
. riod On or before midnight OF
farrh Is"