Mount Vernon signal. (Mt. Vernon, Ky.) 18??-current, 1920-02-27
INCOME TAX
returns Due
Business Men, Farmers andWage
Workers Must File Schedules
Of income for 1919.
lAEcH IS LAST FILING DATE.
let Incomes of $1,000 or Over, u sin
gle; or $1,000 or over u Married,
Must &c Reported.

The Income Tax imposed by Act
# Congress on earnings of the year
919 is now being collected.
Returns under oath must be made
IN or before March 10 by every cfti-
EN- and resident who had a net In
ONE for 1919 amounting to:
$1,000 or over. II single; or II mar
led and living apart from wife Cor
iusband) or if widowed or divorced.
$1,000 or over, IL married and living
With wife (os husband).
The status of the person on the last
lay of the year fixes the status for
he year with respect to the above
requirements.
Under any of these circumstances
ceturn must be made, even though
10 tax is due. k
Husband and wife must consider
the income OF both, plus that Of de-
pendent minor children, in meeting
his requirement; and, IL sufficient to
require a return, all items must be
shown in q joint return or in separate
returns of husband and wife.
Single person with minor depend
,nts must include the income Of such
dependents
$1,000 or more is not considered a
dependent, and must file a separate
return.
Personal returns should be made on
Form 1O40A. unless the net income
exceeded $1,000, in which case Form
tO40 should be used.
Residents of Kentucky should file
heir returns with. and make payments
Of Income Tax to, Elwood Hamilton,
Collector of Internal Revenue, Louis
vile.
How to Figure Income.
The best way to find out wheher
one must file return is to get Form
io4OA and slow the instructions
s = AM, AZ 3. III.
md if "a return is due it tells how to
prepare and file it.
If in doubt on any point as to income
)r deductions, person may secure free
ldvice and aid from the nearest Inter-
lal Revenue office.
Guesswork, estimates and other hit
Ir-miss methods are barred when per-
son is making out his Income Tax re-
urn. Accuracy and completeness must
he insisted upon. The return Is
-Ntn nm q nt nj Az, Utgh a
thorough and accurate.
Salaried persons and wage earners
must ascertain the actual compensation
received. Overtime, bonuses, shares in
the profits of business, value OF quar-
tiers and board furnished by the EN-
ployer and other items which are COM
pensatiOns for services must be In
cluded.
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 mt the market value |
Of the bonds. A note received in pay |
mcnt for services is taxable income at |
its face value, and the interest upon
II is also taxable.
Other Returns Due.
Every partnership doing business in |
the United States must lille return
on Form 1868; and every personal
service corporation must file a similar
return.
Corporations must file annual re-
turns on Form l120.
Trustees, executors administrators
and others acting in a fiduclary capac-
ty are required TO file returns. In
some cases, Form 10ll Is used; in
others, Form 1910; and still others,
returns on both forms are required.
Information returns, on Forms 1000
and 1906, must be filed by every or
firm or person who paid,
during 1919, an amount Of $1,000 In
salary, wages interest, rent, or other
liked or dctermlnable income to an
,ther person, partnership, personal
service corporation or iiduclary. These
returns should be for
varded directly to the Commissioner
# Internal Revenue (sorting divislon),
ID. q.