Norwich bulletin., 1920-03-09
INCOME TAX FACTS bax l}a
 z YOU SHOULD KNOW

|
 Complete returns, both of individ- uals and corporations, must be in the hands of collectors of internal reve- nue on or before March IS, 1920. EEx- tensions will be granted only in spe- cific cases where -urgentS need for ad- ditiona1 time in preparing the returns is shown.
 Last year, if for good and sufficient reasons it was found impossible to complete a return bv March Is, cor porations and individuals were per, mitted to file on or before that date a tentative return and were given an extension of. 45 days in which to file a complete return. Conditions which justified such extensions do not exist this year. ,--.-... t'9.
 Where additional. time is actually required because of illness or ab- sence, the collector of internal revenu may, grant an extension of not to ex- ceed 30 days upon written application therefor made before the return is due. If before the end of the 30-day ex- tension an accurate return can not be made, an appeal to the Commissioner of Internal Revenue, with a full re- cital of the causes for delay. The commissioner will not grant an iddi- tional, extension without clear show ing that a complete return not be made at the end of the 3O-day period.
 Payment of Tax.
 The tax may be paid in full at the time of filing the return or in four in staIlments, the first of which must accompany the filing of the return. The subsequent installments are due September T5, and on or before De- cember 15.
 If the return is not filed within the time specified, the taxpayer is subject to penalty of $1,000 and to an addi- tional assessment of 25 per cent. of the amount of tax due.
 The return should be sent to the collector of internal revenue for the district in which the taxpayer has his residence or principal place of busi- I ness.
 When person required to make a 1 return is unable to do so because ot illness, minority, absence, or nonresi- I dence, it may be done by an agent having sufficient knowledge of such persons affairs to enable him to make complete and true return.
 l Payment may be made in cash, bank 1 check, or draft Collectors will re- l ceive uncertified checks and the ta1 i will be considered paid as is the date 1 the check was received, provided i l Is not later diShonored. If a check i. not paid upon presentation, liabilit!
 for the tax and all penalties are re
 vived. f
 Penalties For Evasion.
 Where a return is willfulIy false 0 fraudulent or contains false or fraud
 ulent statements made with intent t evade the tax the penalty is a fine 0 not more than $10000 or Imprisonment for not more. than one year or botf together with an additional assess
 ment of 50 per cent. of the amount c |. tax evaded. Where the understate ment is due to negligence without in
 tent to defraud, the penalty is 5 pc < cent. of the amount of the deficienc! f plus interest at the rate of 1 per cen per month on such amount from tn f 1 time when it was payable. If the re , turn is made in good faith and a understanding is made without an 2 fault of the taxpayer, there is no pen 9 alty but the tax will be increased [ : the proper amount.
 s Taxpayers are urged by the Burea f of Internal Revenue not to delay Q the filing of returns and to pay taxe f l in as few instaIlments as possibl
 During the closing days of the peric Q for filing returns collectors of interni h revenue are overwhelmed with wo1