Gilpin observer., 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 81 900 or over, IL Sim
gle; or $4,000 or over IL Married.
Must Be Reported.

illt iuA iiiippsVu " Ahe
of Congress on earnings of the year
1919 is now being collected.
Returns under oath must be made
on or before March Is by every citi--
zen and resident who had net In.
come for 1919 amounting to:
$1,000 or over, If single; or II mar
ried and living apart from wife Cor
husband) or If widowed or divorced.
$1,000 or over, If married and living
with wife Cor husband.
The status of the person on the last
day of the year fixes the status for
the year with respect to the above
requirements.
Under any Of these circumstances a
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 n 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 net income Of
81 900 or more is not considered u
dependent, and must file separate
return.
Personal returns should be made on
Form 1O4OA, unless the net income
exceeded $1,000, in which case Form
1040 should be used
Residents of Colorado should file
their returns with, and make payments
of Income Tax to, Mark A. Skinner,
Collector of Internal Revenue, Denver.
Col.
How to Figure Income.
The best way to find out whether
one must file return is TO get Form
1O4OA and follow the instructions
printed on 1t. That form will serve as
n reminder of every item of income,
and if a return is due it tells how to-
prepare and file it.
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
SUI Is out ms ihN'''N
turn. Accuracy and completeness must
be insisted upon. The return Is
sworn statement. AS such 1t must be
thorough and accurate.
Saaried persons and wage earners
must ascertain the actual compensation
received Overtime, bonuses, shares in
the profits of business, value of quar-
ters and board furnished by the EN-
ployer and other items which are COM
pensations for services must be In
cluded
II must be borne in 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 the interest upon
| it is also taxable.
Other Returns Due.
Every partnership doing business In
the United States must file return
on Form 1865; and every personal
service corporation must file similar
return.
Corporations must file annual re-
turns on Form 1120.
Trustees, executors, administrators
and others acting in fiduciary 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 1893
and 1906, must be filed 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 fiduciary. These
information returns should be for
warded directly to the Commissioner
of Internal Revenue (sorting divlslon).
Washington, d. G. ~
'~r,