The Newark journal., 1920-02-26
INCOME TAX
 RETURNS DUE
Business Men, Farmers andWags Workers Must File Schedules
 of Income for 1919.
MARCH 15 LAST FILING DATE.
Net Incomes of 1000 or Over, if Sim gle; or $2,ooo or Over if Married,
 Must Be Reported

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 15 by every citi- zen and resident who had . net in come for 1919 amounting to:
 S1000 or over. if single; or if mar ried and living apart from wife tor husband) or If widowed or divorced
 $2000 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 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.
 minor who has a net income of $1 900 or more is not considered a dependent, and must file separate return.
 Personal returns should be made on Form 1040A, unless the net income exceeded 5000, in which ease Form 1040 should be 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 followsS the instructions printed on it. That form will serve as a reminder of every item of income and if return is due 1t tells how to prepare and file 1t.
 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 or-miss methods are barred when per son is making out his Income Tax re- turn. Accuracy and completeness must he insisted upon. The return is sworn statement As such 1t must be thorough 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 pensatlons for services must be in eluded
 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 of the bonds. A note received in pay ment for services is taxable income st it's face value, and the interest upon l 1t is also taxable.
 Other Returns Due Every partnership doing business in the United States must file a return on Form 1065; and every personal service corporation must file similar return
 Corporations must file annual re- turns on Form 1120
 Trustees, executors, administrators and others acting in fduciary 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 1909 and 1096, must be filed by every or ganiZation firm or person who paid. during 1919, an amount of $1,000 in salary, wages, interest, rent, or other fixed or determinabe income to an other person, partnership. personal service corporation or fiduciary. These information returns should be for warded directly to the Commissioner of Internal Revenue Sorting division), Washington, D. c.