The log cabin Democrat., 1920-03-01
INCOME TAX
 RETURNS DUE
Business Men. Farmers andWage Workers Must File Schedules
 of Income for 1919.
MARCH 15 LAST FILING DATE.
Net Incomes of $1,ooo or Over, if Sin gle; or $2,ooo or Over if Married,
 Must Be Reported.

The Income Tax imposed by Act 1919 K now being collected.
 Returns under oath must be made on or before March L. by every citi- zen and resident who had.a net in come for 1919 amounting 10:
 Sl,00o or over, if single or if mar ried and living apart from wife Cor husband) or if widowed or divorced.
 S20o0 or over, if married and living with wife Cor husband.
 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 q return, all items must be shown in a joint return or in separate returns ot 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 S10OO or more is not considered q dependent, and must file a separate return
 Personal returns should be made on Form l040A, unless the net income exceeded 5000, in which case Form lO40 should he used
 Residents of Arkansas should file their returns with, and make payments of Income Tax to, Jack Walker Col lector of Internal Revenue, Little Rock, Ark
 How to Figure Income.
 The best way to find out whether one must file return is to get Form 1040A and follow the instructions printed on it. That form will serve as reminder of every item of income. and if return is due it tells how to prepare and file il.
 If in doubt on any point as to income or deductions, person may secure free advice and aid from the nearest Inter nal Revenue office.
 GueSSwOrk. estimates and other hit. ormiss methods are barred when a per son is making out his Income Tax re turn. Accuracy and completeness must be insisted upon. The return is sworn statement. As such 1t must he tforOrgh and accurate
 Salaried persons and wage earners must ascertain the actual compensation received. Overtime, bonuses, shares in the profits of business. value of quar- ters and board furnished by the em- ployer and other items which are com pensations for services must be in cluded
 It 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 1 of the bonds. A note received in pay. 1 ment for services is taxable income at its face value, and the interest upon it Is also taxable
 Other Returns Due.
 Every partnership doing business in the United States must file return 1 on Form 1065; and every personal service corporation must file similar | return
 Corporations must file annual re turns on Form f120.
 Trustees. executors, administrators | and others acting in a fiduciary capac ity are required 10 file returns. In some cases. Form 104l S used: ir | others, Form l040; and still others | returns on both forms are required.
 Information returns, on Forms lO9q | and l096, must be filed by every or. 2anization, firm or person who paid | during l9l9 an amount of $1O00 in salary, wages, interest, rent, c. other fixed or determinable income 10 an | other person, partnership persona service corporation or fiduciarY These information returns should be for | warded directly 10 the Commissioner !. nf Tn If,vfg