The Clay City times. [volume] (Clay City, Ky.) 1901-current, 1920-03-04

Business Men, Farmers andWage
Workers Must File Schedules
OF income for 1919.
MARCH is LAST FILING DATE.
Net incomes Of $1,000 or Over, " Sin.
Gle; or $1,000 or over " Married,
Must De Reported.

The Income Tax imposed by Act
Of Congress on earnings of the year
1919 ls now being collected.
Returns under oath must be made
oa or before March 10 by every cIti-
zen and resident who had net In
come for 1919 amounting to:
$1,000 or over. N single; or II mar
RED and living apart from wife Cor
husband) or II widowed or divorced
$1,000 or over, II married and living
with wife Tor husband).
The sintus Of the person on the last
day OF the year fixes the status for
the year with respect 10 the above
requirements.
Under any OF these circumstances
return must be made, even though
no tax II due.
Husband and wife must consider
the income OF both, plus that OF de-
pendent minor children, In meeting
this requirement and. II sufficient to
require 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
A minor who has n net Income OF
81 900 or more Is not considered
dependent. and must file a separate
return.
Personal returns should he made on
Form l0iOA. unless the net income
exceeded $1,000. In which case Form
1910 should be used
Residents OF Kentucky should file
their returns with and make payments
OF Income Tax to, Elwood Hamilton,
Collector OF Internal Revenue, Louis.
Vile.
How to Figure Income.
The best way 10 find out whether
one must file return Is TO get a Form
10l0A and follow the instructions
printed on II. That form will serve as
a reminder Of every Item OF income.
and II return is due II tells how to
prepare and file II.
III In doubt ON any point as 10 income
Or deductions, person may secure free
ndvlce and aid from the nearest Inter
nal Revenue Office.
Guesswork, estimates and other hit
Dr-mlss methods are barred when per-
son IL making out his Income Tax re-
urn. Accuracy and completeness must
be insisted upon. The return is a
sworn statement. As such Il 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-
Iers and hoard furnished by the EN-
ployer and other items which are com
pensntions for services must he In
shaded.
IL must be borne In mind that com
pensation may be paid In other forms
han In cash. A bonus paid In Liberty
Bonds Is taxable al the market value
" the bonds. A note received In pay
nent for services Is taxable income al
Is face value, and the interest upon
I Is also taxable.
Other Returns Due.
Every partnership doing business In
he United States must Tile a return
N Form 1865: and every personal
eryice corporation must file sImilni
eturn.
Corporations must file annual re-
urns on Form 1920
Trustees. executors. administrators
nd others acting In fiduciary capuc.
~ are required 10 tile returns In
ONE cases, Form 10ii Is used: Ia
thers. Form 1910; and still others.
eiurns on both forms are required.
Information returns. on Forms 1000
nd i006. must he filed by every or
nnlzniion. hrm or person who paid.