Show INCOME TAX FACTS YOU SHOULD KNOW ih births deaths and marriages during the year 1920 affect materially income tax returns for that year millions of babies were added to family circles each ot of whom brings an exemption ot of in the parents income tax return widows and widowers who lost their husbands or wives during the year are especially affected they are single tor for the purposes of the income tax law and are granted only an exemption of 0 1000 unless the head ot of a family persons who were divorced or separated by mutual agreement during the year also must consider them themi themselves elves as single pers persons cus taxpayer the status 0 ot f the tax taxpayer paye on december 31 1920 determines the amount of the exemptions it on that day the was living with wife or husband claim may be made tor for the 2000 exemption if single or married and not living with wife or husband on december 31 the exemption is only 1000 persons who reached majority during ng the year and whose earnings tor for that period amounted to 1000 or more inore or 2000 or more according to their material status must file a return and pay a tax on their net income in excess of those amounts to avoid penalty the return must be in the hands 0 of the collector ol of internal revenue for the district in which the taxpayer lives or has his principal place 0 of o business busine ss on or be fare midnight of march 15 1921 |