The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1920-03-18
US. INCOME TAX
ExEMPTS NOBODY
Every Person Who Had Income
in 1919 Must Determine
Own Liability
MARCH IS LAST FILING DATE.
oVrest Way 10 to Fellow Form 1o4oA.
Free Advice In Doubtful Cases.
Severe Penalties In
Law.


An obligation is laid directly on the
shoulders Of each citizen and resident
T. consider his own case and to get his
return in on time IL one is due.
With each return showing tax due
. payment must accompany the return
II the full amount Of the tax or at
least one-quarter Of the tax.
All returns for 1919 must be aled on
O. before March Is.
Must Show True Figures.
In figuring up his earnings for in
come tax purposes person must take
into consideration all items Of taxable
income, and each item itself must be
accurate in amount. Guesses and es-
Inmates must be avoided, for the re-
turn is made under oath.
Everybody who had an income dRRr.
ing 1919 must now determine whether
hl0 or her net income was sufficient In
amount to require an Income Tax re-
turn. The best way to find out is to
get . Form 104OA and follow the in
structions printed on 1t. That form
will serve as reminder of every item
Of income; and If return is due, It
tells how to prepare and file it.
One Of the important points to keep
b mind Ii that persons net income
b found by computation prescribed
n the law, and that each item Of IN
eome from every source must b co.,
ddered, unless specifically exempted.
Another thing to remember 10 that
the personal exemption allowed tax
payers by law has no relation whatever
to the requirement to Ole return. This
exemption is not to be considered until
. person has figured out his net in
come and determined whether 1t was
Suf1cient to require him to file re-
tuFn. Then, II a return must be fled,
he should read carefully the instruc-
tions for claiming exemption, and com
plete his return.
II in doubt on any point as to income
or deductions, person may secure
free advice and aid from the nearest
Internal Revenue Office Many banks
and trust companies are also furnish
ing similar service during banking
hours
Heavy Penalties In Law.
For failing to make return on time
the penalty is fine Of not more than
$1,000 and an addition Of Is per cent
70 the tax, If any. For making false
or fraudulent return the penalty 10 .
hne of not more than $4,000 or i'm
prisonment not exceeding one year, Or
beth; and, In addition, so per cent Of
the tax. There are other pc ,alties for
failing to pay tax when due, and for
understatement Of The tax through
1sgligence.
Many Sources q Income.
Aside from what one may earn By
bio services there are many other
sources Of income. II he sold any
property during 1919 he must figure
cut the gain realized. II he rented
buildings, land. apartments or rooms
such rents must be considered taxa
Bile, and he may claim deductions for
necessary expenses incidental to rents.
Bank interest is a common source
Of income and is taxable whether with
drawn or not Any amount Of interest
credited to q depositor 10 income to
the depositor.
Interest on mortgages and notes 10
taxable; also bond interest received
ffo0 corporations.
4 taxpayer who cashed his insur-
ance during 1919 must report AZ H.
come any excess received over the to-
tai Of premiums paid.
Members Of partnerships or person
al service corporations or benedciaries
Of an estate or trust must report their
shares of income distributable to them
whether or not actually withdrawn.
Dividends Of domestic corporations
must be reported. Many other forms
Of income are taxable, unless specincal-