The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1920-03-09
U. S. INCOME TAX
EXEMpTS NOBODY
Every Person Who Had Income
in 1919 Must Determine
Own Liability.
MARCH is LAST FILING DATE.
surest Way is to Follow Form toioA.
Free Advice in Doubtful Cases.
Severe Penalties in
Law.

Nobody is exempt from Income Tax.
An obligation is laid directly on the
shoulders of each citizen and resident
to consider his own ease and TO get his
return In on time k one is due.
With each return showing a tax due
a payment must accompany the return
in the full amount of the tax or ut
least one-quartcr of the tax
All returns for 1919 must be filed on
or before March 10.
Must Show True Figures.
In figuring up his earnings for In
come tax purposes n person must take
into consideration all items of taxable
income, and each item itself must be
accurate ia amount. Guesses and es-
Inmates must be avoided, for the re-
turn Is made under oath.
Everybody who had an income dur
ing 1919 must now determine whether
his or her net income was sufficient In
amount to require an Income Tax re-
turn. The best way to find out is to
get Form 1O40A and follow the in
structiOns printed ON It, That form
viii serve as n reminder of every item
Of income and II return Is due, II
tells how to prepare ana hle 1t.
One OF the important points to keep
In mind Is that persons net income
In found by computation prescribed
In the law, and that each item Of In
come from every source must be con
sidered, unless specifically exempted.
Another thing TO remember Is that
the personal exemption allowed tax
payers by law has no relation whatever
TO the requirement TO file return. This
exemption Is not to be considered until
person has figured out his net in
come and determined whether 1t was
sufficient To require him TO file re-
turn. Then, II return must be He'd
he should read carefully the instruc
lions for claiming exemption, and com
plete his return.
If in doubt on any point MS to income
or deductions, Il person may secure
fioc advice and aid from the neureSt
Internal Revenue office. Many banks
aud trust companies are also furnish.
ing similar service during banking
hours
Heavy Penalties in Law.
For failing to make return on time
The penalty Is n fine of not more than
$1,000 and an addition of 81 per cent
to the tax, IL any. For making falls,
or fraudulent return the penalty is q
fine of not more than $4,000 or i'm
prisonment not exceeding one year, ol
both and. In addition, 30 per cent oi
the tax. There are other penalties Col
failing to pay tax when due and fol
understatement OF the tax through
negligence.
Many Sources Of Income.
Aside from what one may earn b,
his services, there are many othel
sources OF income. IL he sold an!
property during 1919 he must figur,
out the gain realized. IL he rente,
buildings, land, apartments or rooms
such rents must be considered taxa
able, and he may claim deductions fol
necessary expenses incidental TO rents
Bank interest IL common sourc,
Of income and Is taxable whether with
drawn or not. Any amount of interes
credited to dcposltor is income Il
the depositor.
Interest ON mortgages and notes II
taxable; also bond interest received
from corporations.
A taxpayer who cashed his insur
nnce during 1919 must report as In
come any excess received over the To
tai of premiums paid.
Members Of partnerships or persona
service corporations or beneficiaries OF
an estate or trust must report thcll
shares of income distributable TO then
whether or not actually Withdrawn.
Dividends of domestic corporation,
must he reported. Many other forms
of Income are taxable, unless specific
ally exempted.