Federal Taxation Of Mines

The mines of the country are called upon to bear a very large part of the enormous taxes to be raised for 1917 and later years. The Internal Revenue Bureau, which is charged with the assessment and collection of these taxes, desires that the taxation laws shall be administered in a fair and business-like way. The application to mines, however, which have wasting assets, involves questions of particular complication and difficulty. To meet this situation, there has been established in. the Income Tax Branch, a Section of Mine Valuation in which these specific problems of the industry will be handled by competent engineers. But it is realized that something more than this is required for the satisfactory application of the tax laws to the mines, namely, as complete understanding as possible between the Government and the taxpayer, a spirit of cooperation as between the two and every possible assistance and advice from mine owners and mining engineers.