Presidential Initiative for Making .08 Bac the National Legal Limit: Recommendations from the Secretary of Transportation

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ... the capital stock or from the net earnings of corporations, joint-stock companies or associations, and insurance com anies taxable upon their net income as hereinafter provi ed. WHO NOT REQUIRED TO MAKE RETURNS. 390. Any person for whom return has been made and the tax paid, or to be paid as aforesaid, shall not be required to make a return unless such person has other net income, but only one deduction of $3,000 shall be made in the case of any such person. RETURNS TO BE VERIFIED BY OATH, AND AMENDED RETURNS MAY BE REQUIRED BY COLLECTOR. APPEALS FROM DECISION OF COLLECTOR. 391. The collector or de uty collector shall re uire every list to be verified by t e oath or afiirmation o the arty rendering it. If the collector or deputy collector have reason to believe that the amount of any income returned is understated, he shall give due notice to the person making the return to show cause why the amount of the return should not be increased, and upon proof of the amount understated may increase the same accordingly. If dissatisfied with the decision of the collector, such erson may submit the case, with all the papers, to the ommissioner of Internal Revenue for his decision, and may furnish sworn testimony of witnesses to prove any relevant facts. ASSESSMENTS, NOTICE, AND PAYMENT OF. LIMITATION AS TO TIME WHEN ASSESSMENT MAY BE PAID WITHOUT INCURRING PENALTY. 392. E. That all assessments shall be made b the Commissioner of Internal Revenue and all persons shall be notified of the amount for which they are respectively liable on or before the first day of June of each successive year, and said assessments shall be paid on or before the thirtieth day of June, except in cases of refusal or no lect to make such return and in cases of false or...