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This newspaper page contains 5 articles. Subscribers can read the full text of each article.
Newspaper
Moulton Eagle
Location
Moulton, Texas, United States of America
Date
Mar 12, 1920
Page
5
The article explains farmer shopkeeper and tradesman income tax rules for 1919. It covers calculating gross farm income, allowable expenses such as planting, harvesting, tools, feed, repairs, wages, and wear and tear. It notes deductions on livestock losses, buildings, machinery, and farm machinery upkeep, with both cash and accrual basis options and March 15 filing.
The article explains that no one is exempt from income tax for the year 1919 and urges filing Form 1040A by March 15. It warns that returns must show true figures, with payment of tax due, and outlines penalties for late or fraudulent filings. It details sources of taxable income including interest, rents, dividends, and partnership shares, stressing accuracy and use of IRS guidance.
The Manila carnival season draws visitors to Wallace Field for the yearly celebration. The 1920 Victory Carnival is billed as the greatest event yet with commercial and government exhibits and a cosmopolitan social scene. Tonight’s open air auditorium hosts large balls with music by military bands, highlighting a peak in Philippine and oriental culture.
The article notes that many income forms are taxable unless specifically exempted, underscoring broad taxable bases and the need to review applicable exemptions.
All income tax returns for the year 1919 must be filed by Monday March 15. Each return requires full payment or at least one quarter, with cash at the collector's main office. Texas residents file with Alexander B Walker, Collector, Austin. Penalties apply for late filing or late payment. early filing is urged to ease final day overload.
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