The Holbrook news., 1920-02-27
INCOME TAX
 RETURNS DUE
Business Men, Farmers andWage Workers Must File Schedules
 of Income for 1919.
MARCH IS LAST FILING DATE.
Net Incomes of s1,oOO or Over. If Sin gle; or s2,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 a net in- come for 1919 amounting to:
 $1,O00 or over, if single; or if mar ried and living apart. from wife Cor husband or if widowed or divorced.
 $2,O00 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 a 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 $1,O00 or more is not considered a dependent, and must file a separate return.
 Personal returns should be made on Form 1040A, unless the net income exceeded $5,0OO, in which case Form 104O should be used.
 Residents of Arizona should file their returns with, and make payments of Income Tax to, Alfred Franklin, Collector of Internal Revenue, Phoenix, Ariz
 How to Figure Income.
 The best way to find out whether one must file a return is to get Form 1040A and follow the instructions 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 1t.
 If in doubt on any point as to income or deductions, a 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 be insisted upon. The return is a sworn statement. As such 1t must be thorough and accurate.
 Salaried persons and wage earners must ascertain the actual compensation Il, the profits of business, value of quar- ters and board furnished by the em- pIoyer 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 of the bonds. A note received in pay ment for services is taxable income at it's face value, and the interest upon it is also taxable
 Other Returns Due.
 Every partnership doing business in the United States must file a return on Form 1865; 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 a fduciary capac- ity are required to file returns. In some cases, Form 1041 is used; in others, Form 1O40; and still others, returns on both forms are required.
 Information returns, on Forms 1909 and 1O96, 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 determinable 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, ID. C.