The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1920-03-04
INCOME TAX
RETURNS DUE
Business Men, Farmers and Wage
Workers Must File Schedules
of Income for 1919.
MARCH Is LAST FILING DATE.
Net Incomes of $1,000 or over, if Sin
gle; or $4,000 or over II 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 IS by every citi-
zen and resident who had a net in
ome for 1919 amounting to:
$1,000 or over, if single or if mar
ried and living apart from wife Cor
~husband) or if widowed or divorced.
$1,000 or over, if married and living
with wife Tor 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, sl1 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
$1,000 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 $1,000, in which case Form
1o40 should be used.
Residents Of Montana should Ale
their returns with, and make payments
of Income Tax TO, James A. Walsh,
Collector of Internal Revenue, Helena,
Mont.
How to Figure Income.
The best way to find out whether
one must file a return is to get a Form
1040A and follow the instructions
printed on it. That form will serve as
a reminder of every item Of income,
and if a return is due it tells how to
prepare and file it.
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
methods are barred when a per
is making out his Income Tax re-
turn. Accuracy and completeness must
be insisted upon. The return is a
sworn statement. As such it must be
thorough and accurate.
Salaried persons and wage earners
must ascertain the actual compensation
received. Overtime, bonuses, shares in
The profits of a business, value of quar-
-ers and board furnished by the en-
and other items which are COM
Densations for services must be in
1t must be borne in mind that com
)ensation may be paid in other forms
han in cash. A bonus paid in Liberty
Bonds is taxable at the market value
If the bonds. A note received in pay-
nent for services is taxable income at
is face value, and the interest upon
t IS also taxable.
Other Returns Due.
Every partnership doing business in
he United States must file a return
Form 1865 and every personal
corporation must file a similar 4:
eturn. :
Corporations must file annual re- :
rms on Form 1120. /:
Trustees, executors, administrators :
nd others acting in a %fiduciary capac- :
ty are required to file returns. In
ONE cases, Form 1041 is used; in :
theirs, Form 1910; and still others, :
eturns on both forms are required. :
Information returns, on Forms 1899 :
1896, must be filed by every or :
anization, firm or person who paid, :
uring 1919, an amount of $1,000 in :
alary, wages, interest, rent, or other :
xed or determinable income to an :
Their person, partnership, personal :
corporation or fduciary. These :
returns should be for Z
.arded directly to the Commissioner :
: Internal Revenue (sorting division), :
70 cbin ptop n n =