The courier-index., 1920-01-02
And NOlC Returns
 Tue Income Tax
Statements Must Be Filed Between January l and March 15-Tax-
 able and Non-T Taxable Items

I Washington, Dec. 31.--With the
 opening of the new year comes the
 first date for the filing of income tax ireturns.
 1 Heavy penalties are imposed for
 those who fail to file their returns
 between January l and March 15. [ The full tax may be paid in full at
 the time of filing the return of it is
 is desired to make the payments in i four installments, the first may be
 paid by March 15, the second by June i 15, the third by September IS, and
 the fourth by December 15. The pe- l riod for which the income tax is l assessed is the calendar year of h 1919.
 II The ordinary taxpayer will not be
 obliged to pay quite as much as last k year, although the rate still far great
 CT than pre-war rates.
 II The exemptions for $1 ,000 for sin gle persons and $2,000 for married persons and head of families remain
 the same as for 1918. The normal rate for 1914 is per cent on the first S4,000 of net income above the exemptions and 8 per cent on the remaining net income. sLast year the normal rate was and 12 per cent respectively.
 Surtax Ratios.
 Surtax ratios are the same as last year. They started with 16 per cent
 on the amount of net income be- tween S5,O0O and $6,000 and in- | creased steps of l per cent for each Il lS2,000 of net income up to and in- Il cluding 48 per cent on net income Il in excess of $98,000 and not over II S100,000. The surtax on net in | comes over $100,000 and not over Il S152, 900 is 52 per cent; on net in- II comes of not over $150,00O and not over S200,00O it is 56 per cent; or | net incomes over $200,000 and not Il over s300,000 it is 50 per cent; or II net incomes over $300,000 and not H over S500,000 it is 63 per cent; or net incomes over $500,000 and no
 over $1 100000 it is 64 per cent Il and on net incomes over S1 100000 U it is 65 per cent.
 H Besides the exemption of S1 ,00' M for single persons and S2,000 fo HI married, there is an additional ex HI emption of 1900 for each dependen H under IS years of aga
 Il Every person whose income equal MI ed or exceeded S1 ,O0O for single per HI sons or S2,000 for those who ar Hi married, must file a return regard |u less of whether the income is larg III enough to require the payment of tn HI tax. III Forms for making returns will b HI available at offices of collectors 0 Il internal revenue and deputy colec Il tors, postoffice and banks. Wha HI is known as form 1040 A is for us H of those with incomes of s5,0000 o Il less, while form 1040 is for thos . with larger incomes.
 . Taxable and Nontaxable Items.
 Taxpayers must report under gros e incomes, salaries, including bonuse: 2. interest received on notes and fror '- bank deposits, dividends or stocks e profits from the sale of property l. profits from stock market transaC e tions, income from fiduciaries, part 5 nership profits and royalties fror + mines, oil wells, patents, copyright g and franchises.
 e Items which are not taxable an : need not be included in the retur e are property received by gift or in II heritance, proceeds of life insuranc F policies, returns of premiums on If IT insurance, endowment or annuit II Do not delay, but reinstate at once