The copper era and Morenci leader., 1920-03-12
], $. INCOME TAX
 EXEMPTS NOBODY
Every Person Who Had Income in 1919 Must Determine
 Own Liability.
MARCH IS LAST FILING DATE.
Surest Way Is to Follow Form 1o4oA. Free Advice in Doubtful Cases. Severe Penalties in
 Law.

Nobody is exempt from Income Tax. An obligation is laid directly on the shoulders of each citizen and resident to consider his own case and to get his return in on time if one is due.
 With each return showing a tax due payment must accompany the return in the full amount of the tax or at least one-quarter of the tax
 All returns for 1919 must be filed on or before March 15
 Must Show True Figures.
 In figuring up his earnings for in- come tax purposes person must take into consideration all items of taxable income, and each item itself must be inmates must be avoided, for the re- turn is made under oath.
 Everybody who had an income dur ing 1919 must now determine whether his or her net income was sufficient in amount to require an Income Tax re- turn. The best way to find out is to get Form 104OA and follow the in- structions printed on it. That form will serve as a reminder of every. item of income and if return Is due, it tells how to prepare and file it.
 One of the important points to keep in mind is that persons net income is found by 8 computation prescribed ini the law, and that each item of in- come, from every source must be con- sidered, unless specifically exempted.
 Another thing to remember is that the personal exemption allowed tax payers by law has no relation whatever to the requirement. to file return. This exemption Is not to be considered until a person has figured out his net in- come and determined whether 1t was sufficient to require him to file re- turn. Then, if a return must be filed, he should read carefully the instruc- tions for claiming exemption, and com plete his return. sffisfga 1 s If in doubt on any point as to income OF deductions B person may secure free advice and aid from the nearest Internal Revenue office. Many banks and trust companies are also furnish ing similar service during banking hours.
 Heavy Penalties in Law.
 For failing to make returnfOn time the penalty is a fine of not more than $1 ,00O and an addition of 9 per cent to the tax, if any. For making false or fraudulent return the penalty is a fine of not more than ,$1O,OOO or i'm prisOnment not exceeding one year; or both and, ip addition, 50 per cent of the tax. There are other penalties for failing to pay tax when due and for understatement Of the tax through negligence.
 Many Sources of Income.
 Aside from what one may earn by his services, there are many other sources of income If he sold any property during 1919 he must figure out the gain realized. If he rented buildings, land, apartments or rooms such rents must be considered taxa able, and he may claim deductions for necessary expenses incidental to rents. Bank interest is common source of income and is taxable whether with drawn or not Any amount of interest credited to depositOr is income to the depOsitor g1.L Interest on mortgages and notes is | taxable; also bond interest received i from corporations.
 A taxpayer who cashed his insur- ance during 1919 must report as in- l come any excess received over the to- | tai of premiums paid.
 Members of partnerships or personal service corporations or beneficiaries of an estate or trust must report their i shares of income distributable to them whether or not actually withdrawn. Dividends of domestic corporations must be reported. Many other forms 1 of income are taxable, unless specific ally exempted ut