Ogden Standard-Examiner | 1921-02-07 | Page 4 | Your Income Tax

YOUR INCOME TAX The revenue act of 1SH under which tbe Income tax for the year 1910 la being collected prownc thai in the 'axpayei n returnt gMSS In rcmc from whatever aource shall be Included, "but." The word "but" la important, because following Ik is a list of Item" whleh are speclfliallv cx-empt cx-empt from taxation. Among thee are- The value of property acquired as a gift by will or hy Inheritance the income from such property . bowser. 1 la taxable. ruifeortl of life insurance pelli iep F.eturns Of premium on life irtsar-aitce. irtsar-aitce. endow nient. or annuity contract. Amount received through accident !or health Insurance, or under work-j work-j men m compensation acta. plua trie amount of damage received, whe'her ! by suit or agreement Interest on obligation of any State lor any citv. town. eSHtaty, or vlUavge. land the IMctrict of I'olumbU lnterett on obligations of the United State la exempt from taxation, except thxt iti-ttereat iti-ttereat on obligations Issued after September Sep-tember 1. 1517, i exempt only to the extent provided In the Liberty loan acts. lnUiet on securities lasted under (the provisions of the Federal farm iloan act of July I". hitereat on Liberty bonds to the par h .r of Si.vvu is Mttnpt from all tax-nldei tax-nldei i r large amounts of liberty bonds are advlaed to consult j their banker or collectors of internal oue as to their tif mstiortt. None of the alo Items Is taxable w,:h th exception of aocurttla laauert I under the provision of the Federal 'farm loan act and Liberty bonds), but must be ehomn In the taxpayer's re jturn IVr.ons in actle military or I aval service are ens it lad to an exemption of IJOS from amounts reeelred for I such trv Thii exemption sj .n Hddltion to Ihe 'personal exemptions of II. 99 for ,smgie person and X,9S fot marr.ed persons and heads of famine- Salaries paid employees of a Staje I or "political subdivision thereof.' even Ian a cltv. ounty, town, or hamlet are also exempt from buias This appMes jto school teaveheesi policemen, firemen, land all such employees, but does not apply to employees of Federal dovern-iment dovern-iment or to employees of the Dtagrfc !of Columbia, pert of wliosa salary la received from the Federal Sovsrn- men' With respect to any taunsbfe incoma received in ISJO from other sources the taxpaver is ubje, Ions of the law and i.i Ik return on or before March Lis ltSl, if such ether Income amounted to 11. Sen or IS09S or more according to nla status 'as a eing.e "r marr , at