1917 War Tax Guide; The Federal Laws Covering the Income Tax, Stamp Tax, Profits Tax, Business Tax, Estate Tax, Corporation Tax, Codified, Index, Explained, Illustrated, with Charts for Quick Reference (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1917 Excerpt: ... 12. Apportionment of the Income of a Fiscal Year with Reference to the Increased Bate for 1917 Income. A corporation with a fiscal year ending June 30, 1917, has, of course, received some part of its income during 1916, when the tax was 2%, and some part in 1917, when the tax was 6%. The income must be divided in the. same proportion as the fiscal year is divided by the calendar year. That is, where, as in the illustration, there is one half of the fiscal year in 1917, and the other half in 1916, one half of the year's income, no matter when earned, shall be taxed 6%. So, if the fiscal year ended March 31, 1917, one-quarter of the income for the fiscal year would be taxed 6%. 13. Place of Filing. The Return of an individual should be filed in the office of the collector of internal revenue for the district in which such person resides or has his principal place of business. The Return of a corporation should be filed in the office of the collector of internal revenue for the district in which is located the principal office of the corporation, where are kept its books of account and other data from which the Return is prepared. 14. Return Made by Agent. Where the person required to make a Return is unable to do so because of illness, minority, insanity, absence, or non-residence, it must be done by an agent having sufficient knowledge of the affairs and property of the taxpayer to enable him to make a complete and true Return. A person acting under a power of attorney in the management of property is not obligated to make a Return, nor will a Return by an agent, or by any agent, in the absence of one of the specified grounds of inability on the part of the principal, discharge the legal liability of the principal. 15. Extension of Time. If the last day for ...