Evening star., 1939-07-20
Provisions Of New District Columbia Revenue Measure

assist In the collection of such de-
linquent taxes.
(e) PENALTIES FOR VIOLA
TION OF THIS SECTION-Any
of1ense against the provisions of this
section shall be a misdemeanor and
shall be punishable by a fine not
exceeding $1,000 or Imprisonment
for six months. or both, in the dis
cretion of the court.
Returns to Be Preserved.
SECTION 22-Reports and re-
turns received by the assessor under
the provisions of this title shall bA
preserved for six years and there
after until the assessor orders them
TO be destroyed.
Fiduciary Returns.
SECTION % (a) REQUIRE.
MENT OF RETURN-Every fidu-
ciary Except a receiver appointed
by authority OF law in possession Of
part only of the property of an in
dlviduaD shall make under oath q
return for any of the following In
olvlduals. estates, or trusts for
which he acts, stating specifically
the items OF gross income thereof
and the deductions and credits al
! lowed under this title and such other
information for the purpose of car
rylng out the provisions of this title
as the Commissioners may by regu-
lation prescribe:
~ Every individual having a net
income for the taxable year of ST.
oOo or over, if single, or if married
ana not living with husband and
wife: ~
~ Every individual having a net
income for the taxable year of So
500 or over, If married and living
with husband or wife;
~ Every individual having q
gross income for the taxable year
OF $4,000 or over. regardless of the
amount OF his net income;
~ Every estate or trust the net
income of which for the taxable
year is 81 900 or over;
~ Every estate or trust the pross
income of which for the taxable
/ IVA 40 %o,oOO vi OfCI, I6RdIOleSS OF
the amount of the net income.
tb) JOINT FIDUCIARIES-Under
such regulations as the Commits.
slonerS may prescribe, a return bv
one OF two or more joint fiduciaries
and filed IN the Office of the assessor
shall be sufficient compliance with
the above requirement. Such fidu-
ciary shall make oath % that he
has sufficient knowledge of the af-
fairs of the individual, estate, or
trust for which the returnis made,
to enable him to make the return,
and Cd that the return is, to the
best OF his knowledge and belief,
true and correct.
(c) LAW APPLICABLE TO FL
DUCIARIES-Any fiduciary re-
quired to make return under this
title shall be subject to all the pro-
visions of law which apply to indi-
viduals
Estates and Trusts.
SECTION "a (aJ- APPLICATION
OF TAX-The taxes imposed by this
title upon individuals shall apply to
the income of estates or of any kind
OF property held in trust, including
! N income accumulated in trust
for the benefit of unborn or unas-
certained person or persons with
contingent interests, and income ac-
cumulated or held for future dis
tribution under the terms of the
will or trust
~ income which is to be dis
tributed currently by the fiduciary
/ to the benefciaries, and income COL
lected by guardian of an infant
which is to be held or distributed
as the court may direct;
f3J income received by estates Of
deceased persons during the period
of administration or settlement of
the estate; and
az income which. in the discre-
ton of the fiduciary may be either
distributed to the benefciaries or
accumulated.
(b) COMPUTATION OF TAX
The tax shall be computed upon the
net income of the estate or trust,
and shall be paid by the fiduciary,
except as provided in paragraph (el
of this section trelating to revocable
trusts and paragraph (f) of this
section trelating to income for bene-
fit of the grantor).
(c) NET INCOME-The net in
come of the estate or trust shall be
computed in the same manner and
on the same basis as in the case Of
an individual, except that
N there shall be allowed as an
additional deduction in computing
the net income of the estate or trust
the amount of the income of the
estate or trust for its taxable year
which is to be distributed current-
ly by the fiduciary to the benefici-
aries, and the amount of the in
come collected by a guardian of an
infant which is to be held or dis
tributed as the court may direct,
but the amount so allowed as a de-
duction shall be included in COM
putting the net income of the bene-
ficiaries whether distributed to
them or not. Any amount allowed
as a deduction under this para
graph shall not be allowed as a de-
duction under subsection 90 Of
this section in the same or any sue
ceeding taxable year;
~ in the case of income received
by estates of deceased persons dur
ing the period of administration or
settlement of the estate. and in the
case of income which, in the dis
cretion of the fiduciary, may be
either distributed to the beneficiary
or accumulated. there shah be al
lowed as an additional deduction in
computing the net income of the
estate or trust the amount of the
income of the estate or trust for its
taxable year. which is properly paid
or credited during such year to any
legatee, heir, or beneficiary, but the
amount so allowed as a deduction
shall be included in computing the
net income of the legatee, heir, or
beneficiary;
~ there shall be allowed a. .