Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1920-03-06
INCOME TAX
RETURNS DUE
Business Men, Farmers and Wage
Workers Must File Schedules
Of Income for 1919.
MARCH is LAST FILING DATE.
Net Incomes Of $1,000 or over, II SIN
gle; or $4,000 or over IL Married,
Must Be Reported. n

The Income Tax imposed by Act
of Congress on earnings of the year
1919 is now being collected.
Returns under oath must be MADE
on or before March Is by every citl
zen and resident who had a net in
come for 1919 amounting to-:
1900 or over, II single: or II mar
ried and living apart from wife Cor
LusbandD or II widowed or divorced.
81 900 or over, il married and living
with wife (or husbanG.
The status OF the person on the last
day Of the year fixes the status for
the year With respect to the above
requirements
Under any Of these circumstances a
return must be made, even though
no tax Is due.
Husband and wife must consider
the income OF both, plus that OF de-
pendent minor children, In meeting
this requirement; and, If sufficient TO
require a return, all items must be
shown IN 81 joint return or In separate
returns OF husband aud wife.
A single person with minor depend
euts must include the Income Of such
dependents.
minor who has a net income OF
81 900 or more Is not considered a
dependent, aud must file q separate
return.
Personal returns should be made on
Form l040A. unless the net income
exceeded $1,000. in which case Form
J04O should be used.
Residents OF Wisconsin should file
their returns with. aud make payments
or Income Tax TO, Burt Williams,
Collector Of Internal Revenue. NIL
Waukee.
How to Figure Income.
The best way 10 ind out whether
one must lille u return Is to get Form
1U40A and follow the instructions
printed on 1t. That form will serve as
reminder OF every item Of income,
and IL return Is due It tells how TO
prepare and file IT,
II in doubt on any point as TO income
pr deductions, person may secure free
advice and aid FROM the nearest Inter
nal Revenue office
GuessWor DIRK. estimates and other hit
Or miss methods are barred when per-
son is making out his Income Tax re
turn. Accuracy and completeness must
be insisted upon The return is u
sworn statement. As such It must be
thorough and accurate.
Salaried persons and wage earners
aust ascertain the actual compensation
received Overtime, bonuses, shares in
the profits Of IA business, value of quar-.
ters aud board furnished by the EN-
ployer and other Items which are com
pensati0ns for services must be in.
Guided.
1t must be borne IN mind that com.
pensstion may be paid in other forms
than in cash. A bonus paid in Liberty
Bonds is taxable at the market value
OF the bonds. note received in pay
ment for services is taxable income at
its face value. and the interest upon
Il Is also taxable.
Other Returns Due.
Every partnership doing business in
the United States must lille q return
ou Form 1865: and every personal
service corporation must nile a similar
return
Corporations must file annual re-
turns on Form ll20.
Trustees. executors, administrators
and others acting in u flduciary capac.
ity are required to file returns. In
some eases, Form 1041 Is used; in
Others, Form 1910; and SIM others,
returns on both forms are required.
Information returns, on Forms 1899
aud 1926, must be died by every or
ganiLatiun, hrm or person who paid,
during 1919, au amount OF 81 900 In
salary wages, interest. rent, or other
fixed or determipable Income 10 an
othe: person. partnership. personal
service corporation OF hduci2rv These
information returns should be for.
Warded directly TO HE Commissioner
OF Internal Revenue t>orting divlsiOn)
Washington, II. g.