Greenwood daily commonwealth. (Greenwood, Miss.) 1919-1926, 1920-01-07
4---NUMBER Ill
FILE INCOME TAX
FORMS BY MAR. Is
All Single Men Receiving A Net In
come of $1,000 and Married Men
$4,000 Must Make Returns.

Blanks for income tax returns for
1919 are expectedeto be sent out to
income taxpayers over the state and
nation during the next week or two,
so the returns can be made by March
IS, as required by the federal gov
ernment, according to Revenue Col
lector A. O. Blalock, writing from At
lanta GA.
the stated amounts were on the ba-
sis of 6 per cent. for 1918, last year
the basis will lbe per cent, thus re-
sulting in a saving of one-third in
the amount paid in income taxes, Mr.
Blalock says.
Returns must be made by single
persons receiving an income of ST.
900 or more, and by married persons
receiving a net income of $4,000 or
more. Single persons in the position
of head and chief support of fam
lily are given the same exemptions as
married persons. In case a wife re-
ceives an income of 81, 900 or more,
she is usbject to make return, the
husband required in such cases to
pay on the basis of 81 900 exemption,
unless one of the two valves the right
of exemption in favor of the other.
The exemption for the two cannt be
more htan 100000.
The time for filing income returns
is between January 1 and March Is,
the tax being due at that time, or
may be paid in four equal annual in
stallments, the first by March Is, the
second by June Is, the third by Sep
tember Is and the final payment by
December Is.
A single man receiving a net in
come for 1919 of exactly $1,000
must file a return, but is not requir-
ed sto ssy income tax, the tax being
~ per. cent, of the income of a sin
Dgle mai over that amount, Mr.. Bla-
lock explained.
A married man must file return
ifrlfesreceives as much as $4,000, but
unless his net income was more than
$4,000 he is not required to pay IN
come tax. If he has only one child
in addition to his wife, he receives an
additional exemption of 5000 or 5000
for each dependent child under 18
years of age.
pay, over his exemptions specified
above, may also be reduced by the
amount he pays in city, state and
county taxes, on both poll and per-
sonal property, as well as by the
amount of interest paid on money
borrowed to pay for such property,
Mr.. Blalock stated.
He offers the following example:
A married man, with no children, re-
reives an income o f$2 500 last year.
He owns a house and lot on which
he pays taxes, city, state and county,
which, with his poll taxes, amount to
$40. He had to borrow, say $1,000
to pay on his home and during the
year paid $50 interest on the money
borrowed. His exemption, because
of being married, is $4,000, while
his taxes and interest amount to ST.
900, leaving $4OO of his income that
is taxable. At A per cent. his in
come tax would amount to SIG.
Another example is given: A sim
gle travelling man works on a salary,
having received $500 salary and
commissions amounting to $1,000,
He had expenses, outside of hotel and
cafe charges, including railroad fare,
driver and team hire, entertaining
prospective customers and like expen-
ses, amounting to $1,000. With a
gross income of $4,000, his net income
is therefore $4,000 and his exemption
is $1,000, leaving $1,000 on which to
pay income tax, which will amount
to 81.
Additional allowances are made for
contributions to established church,
charitable and benevolent institu-
tions or causes. The example is Of
fered in the case of the last man
mentioned above. If he gave $50 to
his church, $40 to an orphanage and
$40 to the Salvation Army during
the year, totalling $50, this amount
is deducted from the $1,000, leaving
tax due on $3.50, or $38 due in income
tax.