The Natchitoches enterprise. (Natchitoches, La.) 1888-1965, 1920-02-26
j. S, INC0ME TAX
EXEH1IpTS NOBODY
Every Person Who Had Inco ne
IN 1919 Must Determine
Own Liability.
MARCH is LAST FILING DATE,
SArest Way Is to Follow Form 1OiOA
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 hi
fe,uln III on time if one is due.
Win each return showing Il tax due
Il payment must accompany the return
| IN the full amount of the tax o. at
| least one-quartcr of the tax
All returns for 1919 must be filed on
or before March l..
Must Show True Figures.
IN figuring up his earnings for in
come tax purposes Il person must take
INTO consideration all items of taxable
income, and each item itself must he
accurate III amount. Gurs>eS 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 104OA and follow the in
Structi"ns printed on it. That form
VIII serve as Il reminder of every item
of income; and if return is due. il
Tells now to prepare and file it.
one of the important points to keep
IN mind Is that persons net income
ls round by computation prescribed
in the law. and that each item of in
come from every source must be con-
Sldered, unless specifically exempted.
Another thing to remember is that
me personal exemption allowed tan
payers by law has 20 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 it WIS
sufficient to require him to file q re-
tu'n. Then, if IL return must be filed.
he should read carefully the instr,Ic-
tons for claiming exemption, and com.
plete his return.
II in doubt on amy point as to income
or deductions, Il person may secure
free advice and aid from the nearest
Internal Revenue office. Many banks
and trust companies are also furnish
ne 'iiiiil'i SeI\lCc uufllS DduklnS
hours.
Heavy Penalties in Law.
For failing to make return on time
the penalty is a fine Of not more than
$1,000 and an addition of % per cent
TO the tax. if any. For making false
or fraudulent return the penalty is a
fne of not more than $4,000 or i'm
prisonment not exceeding one year, or
both; and, in addition, SO per cent of
the tax. There are other penalties for
falling to pay tax when due and for
OF the taS through
negligence
Many Sources Of income.
Aside from what one may earn Ivy
lis services, there arc many other
ources of income. If he sold any
property during 1919 he must figure
ut the gain realized. If he rented
uildings land, apartments or rooms
uch rents must be considered taxn-
bic, and he may claim deductions for
ecessary expenses incidental to rents.
Bank interest is common source
+ income and is taxable whether with
rawn or not. Any amount of inltres;
redited to a depositor is income 10
he deposition.
Interest on mortgages and notes I4
'Xable; also bond interest received
ON corporations.
a taxpayer who Cashcd his instr
ice during 1919 must report as in.
'me any excess received over the H..
! Of premiums paid
Members of partnerships or personal
rvice corporations or bencficfarics Ct
estate or trust must report heir
ares of income distributabIe to then,
neither or not actually withdrawn.
Dividends Of domestic corporations
lst be reported. n ny other forms
income are taxable, unless specific
y exempted.