Polk County news. [volume] (Benton, Tenn.) 191?-1983, 1920-03-11
IECOME TAX
RETURNS DUE
Business Men. Farmers and Wage
Workers Must File Schedules
Of Income for 1919.
MARCH IS LAST FILING DATE.
Net Incomes Of 81 900 or over, II SIM
gle; or 5000 or Over II Married.
Must BE Reported.

The Income Tax imposed by Act
Of Congress % earnings VI the year
1919 Is now being collected.
Returns under oath must be made
on or before March Is by every citi-
zen and resident who had a net In
come for 1919 amounting to:
$1,000 or over. II single; or if mar
ried and living apart from wife Tor
husband or II widowed OF divorced.
5000 or over, " married and living
with wife (or husbanO.
The status Of the person on the last
day Of the year hxss the status for
the year with respect to the above
requirements
Under any Of these circumstances a
s return must be made, even though
no tax Is due.
Husband and wife must consider
the income Of beth, plus that OF de-
pendent minor children, In meeting
this requirement and, II SUFFICIENT to
require a return, all items must be
shown in a joint return or In separate
returns of husband and wife.
A single perssn with minor depend
eats must include the income of such
dependents
A minor who has a net income OF
$1,000 or more is not considered
dependent, and must Hle q separate
return.
Personal returns should be made on
Form 1O4oA, unless the net income
exceeded $1,000, in which case Form
1910 should be MsAA
" nesIdents Of Tennessee should ME
their returns with, and make payments
Of Income Tax to, Edward b. craig
Collector of Internal Revenue, Nash
Vile.
How to Figure Income.
The best way to find out whether
one must fle a return is to get FORM
1O4oA and follow the instructions
printed on II. That form will serve as
q reminder Of every Item OF Income
and IL a return is due 1t tells how to
prepare and file 1t.
II In doubt on any point as 10 income
or deductions, person may secure Tree
advice and aid from the nearest Inter
nal Revenue ONCE.
CROSSWORD, estimates and other nit
or-miss methods are barred when per-
son Is making out his Income Tax re-
turn. Accuracy and completeness must
he insisted upen. The return Is
sworn statement. As such II must be
thorough and accurate.
Ga,sried persons and wage earners
mu.t ascertain the actual compensation
received. Overtime, bonuses, shares In
the profits Of a business, value OF quar-
ters and board furnished by the EN-
nIover and other items which are com
pensations for services must be In
cluded.
II must be borne In mind that com
pensation may he paid In other forms
than in cash. A bonus paid In Liberty
Ronds is taxable at the market value
AZ tho bonds. \ note received in pay
mont for services is taxable income AT
its face value, and the interest upon
Il IL also taxable.
other Returns Due.
Every partnership doing business In
the United States must fle a return
on Form 1885; and every personal
service corporation must hle similar
return.
CORPORATIONS must file annual re-
turns on Form 112O.
Trustees, executors. administrators
and others acting in a hduciary capac'
ity are required to file returns. ID
aome cases, Form 1o41 is used; In
others, Form 1910; and still others
returns on both forms are required.
Information returns, on Forms loss
and 1895, must be aled by every or
rsnization, Arm or person who paid
during 1919. an amount Of Sl,OOo in
salary, wages, interest, rent, or other
s..d or determinable income to an
ether person, partnership, personal
service corporation or fduciary. These
information returns should be for
vsrded directly 10 the Commissioner
of Internal Revenue (sorting division)
II O.