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Show . . r XJS. Taxpayers To Keep 'Books v Colloctor of internal Revenue Jaraos H. Anderson issued a statoment today to-day calling attention to tho faot ,tbat tho U. 8. Treasury Department has Just issued aj regulaton concerning tho keeping of books by peoplo llablo to U. S. rovenuo taxes, incomo and otherwise. Tho rogulatlon roforred to provides that: "Every taxpayer carrying on tho business of producing, manufacturing, purciiaBlng or selling any commodities commodit-ies or morcbandlso, except tho business busi-ness of growing and selling products of tho soil, etc., shall, for tho puposo of dotormlnlng the amount of incomo uuuor tho Rovenuo Act of 1921, kcop suih permanont books of account or records, Including Inventories, as aro nocossary to establish tho amount of gross Incomo and deductions, crodlts and other Information required by nn Incomo tax roturn. Tho taxpayer shall produco such books of account of records for tho Inspection of rovonuo ofQcors duly authorized by law to in-spoct in-spoct tho samo, at sudh tlmo and in tho manner provided by law." Tho only exception among producers, produc-ers, manufacturers, or doalors In any commodities or merchandise from this roqulromont of kooplng permanent perman-ent books of account or records, nro farmors, gardenors, horticulturists, etc., whoso business Is that combining combin-ing tho growing and soiling of products pro-ducts of tho soil. Whllo tho growor who also soils Is oxompt ns to his own products, doalors In products of tho soil othor than that grown by thorn, must kcop pormancnt record. 'TIiIb requirement now bolng in force, It Is advisablo for thoso coming com-ing within ILs provisions each to Install In-stall a Bystom of bookkooplng, from January 1, 1922, and on. No olabor-nto olabor-nto system is roqulrod, but it should bo sufllclontly In dotall to show accurately ac-curately tho Incomo, outgo, and ox-ponso, ox-ponso, from month to month, throughout through-out tho year. - |