The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1921-01-06

Manner.
Next in line in the way of tax obi
cations is the income tax settlement
Between January l next and Marcel
Is the income tax blanks must b,
correctly made out and return made
to the collector of internal revenue a
Helena.
Extensive plans for aiding tax
payers in filing their income tax re
turns for the year 1920 are being
made by the internal revenue depart.
ment. Revenue officers will visit
every town and county in the United
States to aid the people in making
out their forms. The date of their
arrival will be announced later. The
services of government experts as
heretofore will be continued.
There's No Excuse
Forms for filing 1920 returns of
income will be sent by collectors to
persons who last year filed a return.
Failure to receive a form, however,
does not relieve a person from his
obligation to file a return within the
time prescribed. Copies may be OBJ
tanned from the local office of collec-
tor of internal revenue, from post
offices or banks, and are expected
to be available shortly after the first
of the year.
Revenue officers assigned to the
work of assisting taxpayers also will
be supplied with forms, concerning
which, and the various items of in
come to be included, they will be pre-
pared to answer any and all ques-
tions. 1t has been demonstrated,
however, that many questions may be
eliminated if the taxpayer, before
seeking the assistance of a revenue
officer, will carefully study the in
structions on the form.
Due Before March is
The period for filing returns is
from January 1 to March Is, 1921.
The tax, this year at least, may be
paid in full at the time of filing the
returns or possibly in four install
ments, unless congress decides diff
.ferently. If congress grants the right
to pay In four installments the first
will be due on or before March Is,
the second on or before June Is, the
third on or before September Is and
the fourth on or before December Is.
The first installment must accom-
pany the filing of the return.
Requirements Unchanged
The requirements of the revenue
act relating to returns for the year
1920 will be the same unless chang
ed by the present session of congress.
Every single person whose net in
come for 1920 was $1,000 or more
and every married person whose net
was $4,000 or more must file
a return. The exemptions are 81, 900
for single persons and $4,000 Tor
married persons and heads of fam
lies, plus an additional exemption of
5000 for each person dependent upon
taxpayer for chief support if such
person is under Is years of age or
incapable of self-support.
A single person may claim eXemp-
ton of $4,000 as the head of a fam
lily II he is the sole support of n or
more relatives living in the same
house with him, and if he exercises
over household affairs. De-
auctions from gross income to which
the taxpayer is entitled in arriving
at net income are fully explained in
The instructions on the forms.
Must File Regardless
The bureau is emphasizing this
year that the requirement to file a
return rests solely upon a PERSONS
marital status and the amount of his
or het net income for the year 1920.
persons whose net income was
Oh more and married persons
whose net income was $4,000 or
more must file a return regardless
If whether their incomes are nom {
by reason of their exemp- {
ions. {
The normal tax rate for 1920 is J
per cent on the first $4,000 of net t
above the exemption, and 8 {
yer cent on the remaining net in f
,ome. The surtax rate, which is COM
,uted without the benefit of the ex- t
imption, ranges from 1 per cent on 1
he amount of net income between {
Is 200 and $4,000 to IS per cent on c
he amount of net income in excess E
# 100000. '
Persons whose individual net in t
ONE for 1920 was $4,000 and less t
hould ask for Form 1040 A. Those d
yhose individual net income was in t
xcess of $4,000 should ask for Form o
I040. f
The bureau of internal revenue is A
rging taxpayers not to delay in the is
Hing of their returns. Merchants b
nd business men are casting up their O
counts for the calendar year 1920. E
With the facts and figures necessary G
D make a correct return fresh in Il
heir minds, the making out of a Il
orm soon after January 1 will be an a,
asier task, the bureau points out, G