The Fayette falcon. (Somerville, Tenn.) 190?-current, 1920-02-27

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, 10 Sin
gle; or $1,000 !, over II Married,
Must Be Reported.


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 citi-
zen and resident who had net in
come for 1919 amounting to:
$1,000 or over, If single or IL mar
ried and living apart from wife (orI
husband or II widowed or divorced.
$1,000 or over, II married and living
with wife Cor husbandl.
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 q
return must be made, even though
ne tar Is due. :
Husband and wife must consider
the income of both, plus that Of de-
pendent minor children, In meeting
this requirement; and, II sufficient to
require a return. all items must be
shown In joint return or In separate
returns of husband and wife.
A single person with minor depend
ents must include the income Of such
dependents.
A minor who has a net income Of
1000 or more is not considered
dependent, and must file separate
return.
Personal returns should be made on
Form 1O40 A, unless the net income
exceeded $4,000, In. which case Form
1040 should be used.
Residents of Tennessee should file
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 cut whether one
must file a return is to get a Form
1040A and follow the Instructions
printed on il. That form viii serve as
reminder Of every item Of income.
and If a return is due II tells how to
prepare and file II.
If In doubt on any point as TO income
or deductions, person may secure
free advice and aid from the nearest
Internal Revenue oiilce.
Guesswork, estimates and other hit
or-miss methods are barred when a
person is making out his Income Tax
return. Accuracy and completeness
must be insisted upon. The return is
sworn statement. AS such II must
be thorough and accurate
Salaried persons and wage earners
must ascertain the actual cempensa-
tion received. Overtime, bonuses,
shares in the profits of business,
value of quarters and board furnished
by the employer and other items which
are eompensations for services must
be Included.
Il must be borne In mind that com
pensation may be paid in other forms
than in cash. A bonus paid in Liberty
Bonds is taxable at the market value
of the bonds. A note received In pay
ment for services is taxable income at
Its face value, and the interest upon
II is also taxable.
Other. 6eturns Due.
Every partnership doing business in
the United States must file return
on Form 1865; and every personal
ervice corporation must file a similar
return.
Corporations must file annual re-
turns on Form 1120.
Trustees, executors, administrators
and others acting In fidueiary capac-
ity are required to file returns. In
some cases, Form 1041 is used: In
others, Form 1910; and still others.
returns on both forms are required.
Information returns. on Forms 1899
and 1895, must be fled by every or
Eanisation. firm or person who paid.
during 1919. an amount OF $1,000 I'm
salary, wages. interest, rent. OF other
hxed or determinable income to an
ether person. partnership. personal
service corporation or fiduciary. These
information returns should be for
varded directly to the Commissioner
Of Internal Revenue (sorting divisionl,
Uwshkn~fnn n n