The Barre daily times. (Barre, Vt.) 1897-1959, 1920-12-13
INCOME TAX PAYERS
GUIDE TO FILE RETURNS
Lists are to Be Reported Between Jan
/ and March is, the Earlier
the Better.

Extensive plans for aiding taxpayers
in filing their income tax returns Tor
the year 1920 are being made by the
bureau of internal revenue. Revenue
officers will visit every county in the
United States to assist in making out
the forms. The date of their arrival
and the location of their offices will
be announced through the press, or
may be obtained on inquiry at Offices
of collectors of internal revenue and
branch offices. The services of govern
ment experts heretofore offered to city
residents will be continued.
Forms for filing 1920 returns of in
come will be sent by collectors to per-
sons who last year filed return. Fail
IRE to receive form, however, does
not relieve a person from his obliga-
ton to file a return within the time
prescribed. Copies may be obtained
from offices of collectors of internal
revenue, branch offices, postofiices and
banks, and are expected to be available
on or before Jan. !.
Revenue officers assigned to the
work of assisting taxpayers also will
be supplied with forms, concerning
which, and the various items of income
to be included, they viii be prepared to
answer any and all questions. 1t has
been demonstrated however, that
many questions may be eliminated if
the taxpayer, before seeking the assist
ance of a revenue officer, will carefully
study the instructions on the form.
The period for filing returns is from
Jan. | to March Is, 1921, The tax, this
year as last, may be paid in full at
the time of filing the return or in four
installments, the first of which is due
on or before March Is, the second on
or before June Is, the third on or be-
fore Sept. Is and the fourth on or be
fore Dec. Is. The first installment
must accompany the filing of the re-
turn
Persons whose individual net income
for 1920 was $4,000 and less should
ask for form l040 A. Those whose in
dividual net income was in excess of
$1,000 should ask for form l040.
The bureau of internal revenue is
urging taxpayers not to delay in the
filing of their returns Merchants and
business men are casting up their ac-
counts for the calendar year 1920.
With the facts and figures necessary
to make correct return fresh in their
minds, the making out of form soon
after Jan. ] will be an easier task,
the bureau points out, than if de-
layed.
The requirements of the revenue act
relating to returns for the year 1920
are the same as those for the year
1919. Every single person whose net
income for 1920 was 81 900 or more
and every married person whose net
income was $1,000 or more must file
return. The exemptions are 81 600 for
single persons and $1,000 for married
persons and heads of families, plus an
additional exemption of 5000 for each
person dependent upon the taxpayer
for chief support if such person is un-
der eighteen years of age or incapable
OF self support. A single person may
claim an exemption of $1,000 as the
head of family if he is the sole sup
port of one or more relatives living
III tue NdfHt uouNe Win Hluls anu IL ne
exercises control over household af-
fairs Deduction from gross income TO
which the taxpayer is entitled in ar
irving at net income are fully ex.
planned in the Instructions on the form
The bureau is emphasizing this year
that the requirement TO file a return
rests solely upon a persons marital
status and the amount of his or her
net income for the year 1920 Single
persons whose net income was 81 900
or more and married persons whose
net income was $1,000 or more must
file return regardless of whether
their incomes are non-taxable by rea
son of their exemption
The normal tax rate for 1920 is four
per cent on the first $4,000 of net in
come above the exemption, and eight |
per cent on the remaining net income. |
The surtax rate. which is computed |
without the benefit of the exemption, |
from one per cent on the |
amount Of net income between So 1000 |
and $4,000 to So per cent on the l
amount Of net income in excess of
81 100000
For the information of taxpayers /
in filing their returns, there has been
prepared by the bureau of internal |
revenue series of short articles on /
the income tax laws and 1920 regu-
lations, the first Of which will appear