The Julesburg grit-advocate., 1920-01-29
INCOME TAX FACTS
YOU SHOULD KNOW

Were you one of the Thousands of
persons who last year, with unques-
toned honesty Of purpose, filed an in
correct income tax return! Are you,
or have you been 4 claimant for re-
fund of taxes overpaid? Have you
been called upon by the Bureau of In
ternal Revenue for payment of
amounts owed the Government thru
inadvertence or COMMISSIONS in making
cut your income tax form? To sum it
up. have you experienced trouble O
any kind in filing your income tax
return for 1918?
If SO, this is written for the benefit
of more than 5000, 900 taxpayers who,
on or before March 10, will file in
come tax returns for the year 1919.
1t is certain a percentage of these re-
turns will be incorrect. 1t il equally
certain that the percentage of errors
may be largely reduced if taxpayers
will acquaint themselves with the in
come tax provisions of the act of Feb
ruary "a, 1919, known ~ the revenue
act Of 1918, which provides for the
collection of taxes for the year 1919
and subsequent years.
As an aid to taxpayers there has
been prepared with the official ap-
proval of the Bureau Of Internal
Revenue, a series Of short articles,
of which this is the first, telling how
to make out an income tax return for
1919, when and where to file it, and
what to do in case you meet with un-
usual difficulties. By making note Of
the information contained therein, it
is believed that most of the difficulties
heretofore encountered may be avoid
ed.
Probably the most important change
affecting the average taxpayer is in
the normal rate, the exemptions of
81 900 for single persons and $4,000
for married persons and heads of
families remaining the same as for
1918. The normal rate for 1919 is 4
per cent on the first $4,000 of net in
come above the exemptions and 8 per
cent on the remaining net income.
The normal rate for 1918 was 8 and IL
per cent, respectively. This applies
to every citizen and resident of the
United States. Alien non-residents
receiving income from sources within
the United States are taxed to the full
per cent on the income from such
sources.
The surtax rates, which range from
l per cent on the amount of net in
come between $4,000 and $1,000 to 65
per cent on the amount Of income in
excess of 100000, remain un-
changed.
The tax, as in 1919, may be paid
in full at the time of filing the return,
or in four installments, the first of
which is due on or before March Is,
the second on or before June Is, the
third on or before September Is, and
the fourth on or before December Is.
The first installment must accompany
the filing Of the return. The period
for filing is from January to Mar.
Is. Heavy penalties are provided for
persons who fail or "willfully refuse"
to file their return and pay the tax
within the time prescribed.
Forms for making returns may be
obtained from offices of collectors of
internal revenue and deputy collec-
tors, post offices and banks. If your
income for 1919 was $1,000 or less,
ask for Form 1040 A. If it was more
than $1,000 as for Form 1040. Re-
turns must be filed with the collector
of internal revenue for the district in
which the taxpayer lives or has his
principal place of business.
nRITJIARY