Show ALL MUST REPORT FOR INCOME TAX the time 0 of year has baa come when practically every iran and every oman ionian harng an all independent income inest file a report with tile the government giving in detail all sources ot of income during the ear 1919 ns its the basis of the income tax that must be paid for last year and every business firm finn and corporation must niso also report for while such organizations pay income tax themselves the net income oi 01 profits of the firm count as income tor for the individuals composing the firm and each bustness business enterprise is also required reaul red to report the amount of salary paid to pach employee whether a dembei of the firm or not this information being used by the government to check the correctness of the returns made by these individuate individuals these reports must be filed with the collector of internal revenue in the district on or before march 15 and the penalty for ballul 0 to leport Is a fine ol of not over 1000 in the case of a single there is no tax and no depolt re continued on oil next page continued from page 4 quiren it if their income did not amount to 1000 and if married and the head of a family the first 2 la Is exempt there Is an additional dit ional exemption for each person under 18 years of age depending upon the head of the family for sup the full tax may be paid at the time of filing the report or gr it it la Is desired to make the payment in tour four installments the first must be paid bt bi maich 15 16 the second by june 16 15 the third b by september 15 and the final by december 15 16 1 the late ot of tax on the first sa 4 above the exemption la Is four per cent foi the year 1919 this being a reduction or of one from the six pe cent collected last year upon incomes for 1918 the single mau with 2 income must thel therefore lefore pay foai per cent on 1000 or 40 A married man with similar income need pa no tax but should nake make a lepont the imar anon with 13 3 income must pay 40 it if he has no children and it he has one i I 1 aid jid he must pay tour four per cent on oar or 32 if ones taxable income exceeded the next 1000 of excess Is taxable at eight per cent and above 5 the excess Is taxed at increasing rates beginning with 16 per cont additional for each 2000 above the total of tho the rate Is gradually increased until the person with an income of over has baa to py pay 65 per cent every person whose income was less legs than during 1919 should procure at once a blank form no while form 1 1040 Is for those with larger incomes if one Is ia it a farmer or a farm owner renting a farm out on shares form should bo be returned it during the eai a person or a I 1 arm rm haa paid to any individual rent ware A or other income amounting to 1000 or over forms 1096 and 1099 should be se be clied and returned for the information of the government all of these forms may be secured by residents of by addressing the collector i of internal ne revenue venue salt lake city i utah |