Okolona messenger. (Okolona, Miss.) 1900-current, 1920-02-26
INCOME TAX
RETURNS DUE
Business Men, Farmers andWage
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 IL Married,
Must Be Reported.

The Income Tax Imposed by Ac,
of Congress on earnings of the yeal
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
come for 1919 amounting to:
$1,000 or over, IL single; or II mar
ried and living apart from wife (Ol
husband or If widowed or divorced
$1,000 or over, If married and living
with wife Tor husbanO.
The status of the person on the last
day of the year fixes the status fol-
the year with respect to the above
requirements.
Under any of these circumstances q
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 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 a net income of
$1,000 or more is not considered a
dependent, and must file separate
return.
Personal returns should be made on
Form 1040A, unless the net income
exceeded $1,000, in which case Form
1910 should be used
Residents Of Mississippi should file
their returns with, and make payments
of Income Tax to- George L. Donald,
Collector of Internal Revenue, jackson,
Miss
How to Figure Income.
The best way. to find out whether
one must file a return is to get a Form
1O40A 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 Vt.
If in doubt on any point as to income
or deductions 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
sworn statement AS such 1t must be
thorough and accurate.
Sa,a,ied persons and wage earners
must ascertain the actual compensation
received. Overtime, bonuses, shares in
the profits of a business, value of quar-
tiers and board furnished by the EN-
ployer and other items which are COM
pensations for services must be in
cluded.
1t must be bQrneNin 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
its face value, and tine 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 1920.
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 1910; and still others,
returns on both forms are required.
Information returns, on Forms 1899
and 1906, must, be flied 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 tiduciary These
information returns should be for
warded directly to the Commissioner
Of Internal Revenue (sorting division),
n