Douglas Island news., 1920-02-13
TIME FOR TAX
 DRAWING NEAR
Income Tax Blanks for Individual Incomes Are Being Received
 Here

Whether or not you receive am Income uN blank and your ucom. uea Si0oo f you verc sing. Imam and S2.o00 |. married. am In como .a> return mus. be made oa and Che 0nt payment on Che W made before March l5 Blanks for tho purpose are being received by people who madc TO- tuus last year and additional blanks can bc secured at thc custom hou or at thc bank.
 rho SI0o0 OF f20oo Incomes means uoa. without amy deductions for living expenses Returns from Alaska should bc sent to David J. Williams collector or internal roy- ,uue ar Aaooma Wash. and tho ac. must bc vIuo cd before mo. uy public
 Tho ntewai r.youuc hm evou our summary of tho law w.th ref- crucc to vba. must bc included In thc Income tax atcmone and what H exempt
 The following Items must be .u- .uIed under iala gross income.
 saar.os. aaee. and comm .ous for personal aevIoes Including bo- uuses
 Interest received on no.a and de- noau in bank. Including aNn" h.nta
 Dividends on stock Only d.v- leuds paid out ol earnings or profits accrued n.c March l lala ara taxable hu. dividends u. doomed to hc dsr.ba,eI oa, Of .h. most rc- .muy accumulated earnings
 poI. received from thc aio of property r.aI or personal lf the property was purchased prior to March !. iaIa. Che profit s based ou m. Uror.n.. between lHr cune price and tac lair marto. price or yame as of March !. lala
 Profits from Ho.. mua.. trans. a-uon.
 Income received from nIueare
 uat e. amount. received from n- .omcs of ..tate. .ru.t. ete. tfroaeH trustees administrators or cE.cu. tora
 Partnership rroIu partnership . such arc no. subject to the Hcome uz bu each individual partner must pay a fax on thc uoom. from urh partnership.
 Royalties from mines. oU and eae voIs uatonu copyrights and lraH- eh.se..
 The foHoNu- item. nm. uo. HN. ab.c and mood not be Included I'm thr return
 Property received as n e..- by win or inheritance Tho Income from such property however is .auhI.
 Proceeds of Hl. insurance policies
 Returns or premium. on i|fe Insure auec. endowment or annuity cone tracts
 Amounts received through ac.I. dent or hut Insurance or under vorkmma comn.o tIon acts. plus hc amount of Iamaeas received uo.ror by mt or arreomcr.
 Interest ou obligations o. any state. or any c.rv town county or village and Che District Of Columbia. Irtre. on obligations of .ao United sates s exempted from taz except. that Interest on obligations .auod after September [. lal-. e exempt only To Che cztent provided In Che Liberty Loan act
 Interest ou Che securities Huod under One provision. of fhe federal farm loan ae. of July v. 1af6.
 Amounts received during Che war by ncrso1s m thc aearo military cor naval forces mp to sa.1oo. in add.- uou to personal exemption
 Interest on Liberty Bonds to thc par value of s5.0o0 Is exempt from an taxation Holders of large amounts or Liberty Bonds aro ad- vsod to consult their bankers or collectors of internal revenue as to uc.r exemptions
 Tho law expressly prohih.H ,he deduction of personal or living cN- nousos These include rout waro of servants. cost of food and clothing for family upkoep or automobiles used for pleasure OF convenience. cd- urauor Of children and similar item Income spent during thc year ial' for any or thoso items H subject Go Che tax.