Grainger County news. (Rutledge, Tenn.) 1917-current, 1920-03-04
INCOME TAX
RETURNS DUE
Business Men, Farmers and Wage
Workers Must File Schedules
of income for 1919.
MARCH IS LAST FILING DATE.
Net Incomes Of $1,000 or over, II SIN
gle; or $1,000 or over II Married,
Must Be Reported.
MARCH IS LAST FILING DATE.

The Income Tax imposed by Act
of Congress on earnings Of the year
1919 is now being collected,
Returns under oath must be made
on or before March 10 by every citi-
zen and resident who had a net in-
come for 1919 amounting to:
$1,000 or over, If single or II mar
ried and living apart from wife Tor
husband) ; or il widowed or divorced.
$1,000 or over, if married and living
with wife (or %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
ma 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 a return, all items must be
shown in a 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 a separate
return.
Personal returns should be made on
Form 1040A, unless the net income
exceeded 5000, in which case Form
1910 should be used.
Residents of Tennessee should file
their returns with, and make payments
Of Income Tax to, Edward b, Craig,
Collector of Internal Revenue, Nash
vile.
How to Figure income.
The best way to find out whether
one must file a return ~ to get a Form
104OA 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 ii tells how to
prepare and file 1t.
If in doubt on any point as TO income
or deductions, a 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 a per
son is making out his Income Tax re.
! turn. Accuracy and completeness must
be insisted upon. The return is q
sworn statement. AS such it must be
thorough and accurate.
81. 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
pensutiOnS for services must be in
Guided.
It must be borne in mind that. com
penSation may he paid in other forms
than in cash. A bonus paid in Libert!
Bonds is taxable at the market value
! Of the bonds. \ note received in pay
, meNt for services is taxable income n
it's face value. and the interest upOl
It is also taxable.
Other Returns Due.
Every partnership doing business il
the United States must file Il return
on Form 1860; and every persona
service corporation must file Il siinila
return.
Corporations must file annual re
turns on Form 1920.
Trustees, executors, administrator
and others acting in IA fiduciary capac
ity are required to file returns. II
some cases, Form 104l is used il
others, Form 1910; and still Others
returns on both forms are required.
Information returns, on Forms 1O9
and 1906, must be filed by every OF
ganization, firm or person who paid
during 1919, an amount of $1,000 il
salary, wages. interest, rent, or othe
fixed or de;arminable income to al
other person, partnership, persona
service corporation or tiduciary. Thes
information returns should be f0r
warded directly to the Commissions
Of Internal Revenue (sorting division)
Washington, p. q.