The Weston leader. [volume] (Weston, Umatilla County, Or.) 189?-1946, 1920-03-12
U. S. INCOME TAX
ExEMPTS NOBODY
Every Person Who Had Income
in 1919 Must Determine
.... Own Liability.
MARCH IS LAST FILING DATE.
surest Way Is TO Follow Form to4oA
Free Advice In Doubtful Cases.
Severe Penalties In
Law.

Nobody Is exempt from Income Tax
An obligation Is laid directly on the
shoulders OF each citizen and resident
TO consider his own case and TO get lilt
return in on time IL one is due.
With each return showing tax due
a payment must accompany the return
In the full amount Of the tax or al
least one-quarter Of the tax.
All returns for 1919 must be filed Oh
or before March Is.
Must Show True Figures.
In figuring up his earnings for In
come tax purposes n person must take
into consideration all items of taxable
income, and each item itself must be
accurate In amount. Guesses and es.
Inmates must be avoided, for the re.
turn Is made under oath.
Everybody who had an income dur
ing 1919 must now determine whether
his or her net income was sufficient In
amount TO require an Income Tax re.
turn. The best way to find out Is &c
get a Form 10f0A and follow the In.
structions printed on 1t. That form
will serve as a reminder OF every item
of income; and IL a return is due, II
tells how TO prepare and file 1t.
One of the important points to keer
in mind is that a persons net income
is found by computation prescribed
in the law, and that each Item of in.
come from every source must be con.
sidered, unless specifically exempted.
Another thing to remember Is that
the personal exemption allowed tax
payers by law has no relation whateyei
to the requirement to file return. This
exemption is not 10 be considered until
a person has figured out his net in.
come and determined whether II was
sufficient TO require him TO file a re
turn. Then, IL a return must be filed
he should read carefully the instruc.
tions for claiming exemption, and com,
plete his return.
If in doubt on any point as TO income
or deductions, a person may secure
free advice and aid from the nearest
Internal Revenue Office. Many banks
and trust companies are also furnish.
ing similar service during banking
hours.
Heavy Penalties in Law.
For failing to make return on time
the penalty is a fine of not more than
81 900 and an addition Of 25 per cent
TO the tax, IL any. For making false
or fraudulent return the penalty is
fine of not more than $4,000 or i'm
prisonment not exceeding one year, OF
both; and. In addition, so per cent OF
failing to pay tax when due and for
understatement of the tax through
Many Sources of Income.
Aside from what one may earn by
his services, there are many other
during 1919 he must figure
out the gain realized. If he rented
land, apartments or rooms
such rents must be considered taxa
able, and he may claim deductions for
necessary expenses incidental to rents
Bank interest is common source
Of income and is taxable whether with.
drawn or not. Any amount Of interest
to depositor is Income tc
The deposltor.
Interest on mortgages and notes IL
.axable; also bond interest received
rom corporations.
A taxpayer who cashed his insur.
snce during 1919 must report as In.
,ome any excess received over the to,
al of premiums paid.
Members Of partnerships or personal
service corporations or beneflciaries OF
In estate or trust must report their
shares of income distributable TO them
whether or not actually withdrawn.
Dividends of domestic corporations
must be reported. Many other forms
# income are taxable. unless specific.
lily exempted.
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