The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1920-03-05
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 81 900 or over, If SIN
ole; or So 900 over il Married,
Must Be Reported.

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 II by every cili-
zen and resident who had net in
come for 1919 amounting to.
$1,000 or over, If single; or If mar
ried and living apart from wife Tor
husbanO or If widowed or divorced.
$1,000 or over, If married and living
with wife Cor huI,and).
The status of the person on the last
day of the year fixes the status fer
the year with respecr to the above
requirements.
Under any OF these circumsf ances Il
return must he made, even though
no tax is due.
Husband and wife must consider
the income OF both, plus tha, of de
pendent minor children, in meeting
this requirement and, il sufficient 10
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 net income of
ST 1000 or more is not considered a
dependent and must file u separate
return.
Personal returns should be made on
ho
exceeded $1,000, in which case Form
104O should be used
Residents of Idaho should file their
returns with, and make payments of
Income Tax 10, Lewis Williams,
Collector Of Internal Revenue, Boise.
Idaho.
How to Figure Income.
The best way to find out whether one
must file a return is to get n Form
1O40A and follow the Instructions
printed on it. That form will serve as
reminder of every item of income.
and If return is due ii tells how to
prepare and file it.
| If in doubt on any point as to income
or deductions, person may secure
|
Internal Revenue office
Guesswork, estimates and other hit
or-miss methods are barred when a
person Is making out his Income Tax
return. Accuracy and completeness
must be insisted upon. The return is
sworn statement. AS such ii must
he thorough and accurate
Saaried persons and wage earners
must ascertain the actual compensa-
ton received. Overtime bonuses,
shares In the profits Of business
value of quarters and board furnished
| by the employer and other items which
are compensations for services must
be included.
1t 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. note received in pay
ment for services is taxable income at
its face value, and the interest upon
1t 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 a similar
return.
Corporations must file annual re-
turns on Form 1920.
Trustees, executors, administrators
and others acting in a fiducialy capac-
ity are required TO file returns. In
some cases, Form 104l is used; in
others, Form 1910; and still others.
returns on both forms are required.
Information returns, on Forms l09o
and 1896, 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 determlnable income TO an
other person, partnership. personal
service corporation or fitluriary. These
! information returns should be for
warded directly 10 the Comm ssioner
Of Internal Revenue (sorting divislon),
| Washington, ID. c.