HOME news
p'i edVerr Friday McCrory. Ark.
* TER W. RANEY, Ed. and Pub.
* 5<b,criptio» $1-00 per Year in Adv.nce.
Phone: 40
Entered as second-class mat
Aurt 26, 1915, at the post
ill at McCrory, Ark., under
%Act of March 3, 1879.
announcements
The Home News is author
ized to announce the following
gentlemen as candidates tfor
the office under which their
names appear, subject to the
action of the Democratic party
For Congress:
B. E. ALEXANDER
W. J. DRIVER
FRIDAY, FEB. 27, 1920
BIG LUMBER COMPANY
COMING TO COT’N PLANT
The Cotton Plant Branch will
be under the supervision of
Mr. Swayze, an experienced
lumber man.
Mr. Herman Morseman,
Secretary of the Carlisle Lum
ber iu., of Carlisle, Ark., and
Mr. H. D. Swayze were in the
city this week preparatory to
establishing a big first class
lumber yard where they will
keep on hand a full and com
plete line of lumber building
material of all kinds and coal.
While here they closed a
(leal with Messrs A. C. and J.
D. McGregor for the lots on
the southside of Main street
just east of the Rock Island
railroad, where preparations
are being made to begin work
at once the erection of office
bUm?ings. anc* lumber sheds.
I his will be quite an asset
0 our city and The Democrat
J-xtends to these people a
nearty welcome, and predict
or them a lucrative business.
» lnr^no^er P^ce in this issue
—Join Community Club—
You Can’t Be Too Careful.
ment—Cotton Plant
announce
it Dem
INCOME TAX
RETURNS DUE
Business Men,Farmers andWage
Workers Must File Schedules
of Income for 1919.
MARCH 15 LAST FILING DATE.
Not Incomes cf $1,000 or Over, if Sin
flle; or $2,000 or Over if Married,
Must Be Reported.
The Income Tax imposed by Act
of Congress on earnings of the year
1919 is now being collected.
Returns under oath must be made
on or before March 15 by every citi
zen and resident who had a net in
come for 1919 amounting to:
$1,000 or over, if single; or if mar
ried and living apart from wife (or
husband) ; or if widowed or divorced.
$2,000 or over, if married and living
with wife (or husband).
The status of the person on the last
day of the year fixes the status for
the year with respect to, the above
requirements.
Under any of these circumstances a
return must be made, even though
no t ax is due.
Husband and wife must consider
the income of both, plus that of de
pendent minor children, in meeting
this requirement; and, if sufficient to
require a return, all items must be
shown in a joint return or in separate
returns of husband and wife,
i A single person with minor depend
ents must include the income of such
dependents.
A minor who has a net income of
$1,000 or more is not considered a
dependent, and must file a separate
return.
Personal returns should be made on
Form 1040A, unless the net income
exceeded $5,000, in which case Form
! 1040 should be used.
Residents of Arkansas should file
| their returns with, and make payments
of Income Tax to. Jack Walker, Col
lector of Internal Revenue, Little
Rock, Ark.
mow to Mgure income.
The best way to find out whether
one must file a return is to get a Form
1040A and follow the instructions
printed on it. That form will serve as
a reminder of every item of income,
and if a return is due it tells how to
prepare and file it.
If in doubt on any point as to income
or deductions, a person may secure free
advice and aid from the nearest Inter
nal Revenue office.
Guesswork, estimates and other hit
or-miss methods are barred when a per
son is making out his Income Tax re
turn. Accuracy and completeness must
be insisted upon. The return is a
sworn statement. As such it must be
thorough and accurate.
Salaried persons and wage earners
must ascertain the actual compensation
received. Overtime, bonuses, shares in
the profits of a business, value M quar
ters and board furnished by the em
ployer and other items which are com
pensations for services must be in
cluded.
It must be borne in mind that com
pensation may he paid in other forms
than in cash. A bonus paid in Liberty
Bonds is taxable at the market value
of the bonds. A note received in pay
ment for services is taxable income at
J[ts face value, and the interest upon
it is also taxable.
Other Returns Due.
Every partnership doing business in
the United States must file a return
on Form 1065; and every personal
service corporation must file a similar
return.
Corporations must file annual re
turns on Torn: 1^20.
Trustees, executors, administrators
and others acting in a fiduciary capac
ity are required to file returns. In
some cases, Form 1041 is used; in
others, Form 1040; and still others,
returns on both forms are required.
Information returns, on Forms 1099
and 1096, must be filed by every or
ganization, firm or person who paid,
during 1919, an amount of $1,000 in
salary, wages, interest, rent, or other
fixed or determinable income to an
other person, partnership, personal
service corporation or fiduciary. These
information returns should be for
warded directly to the Commissioner
of Internal Revenue (sorting division)’,
Washington, D. C.
INCOME TA^
IN NUTSHELL
WHO—Single persons who had
net income of $1,000 or more
for the year 1919.
Married couples who had net
income of $2,000 or more.
WHEN—March 15, 1920, is final
date for filing returns and malt
ing first payments.
WHERE—Collector of Internal
Revenue for District in which
the person resides.
HOW—Full directions on Form
1040A and Form 1040; also the
law and regulations.
WHAT—Four per cent normal
tax on taxable income up to
$4,000 in excess of exemption.
Eight per cent normal tax on
balance of taxable income. Sur
tax, from one per cent to sixty
five per cent on net incomes over
$r>,ooo.
BUSINESS FOR SALE.
On account of other busi
ness which will require my
time and attention, I have
decided to sell my lunch
room. For particulars see
me. GEO. H. PROULX.
Adv. 2-20-2tc.
DR. C. P. HARRIS
DENTIST
—o—■
McCRORY, ARK.
Office Hours: 8-5
Cut This Out It’s Worth Money
Don’t miss this. Cut out
this slip, enclose with 5c to
Foley & Co., 2835 Sheffield
Ave., Chicago, 111., writing
your name nad address clear
ly. You will receive in return
a trial package containing
Foley’s Honey and Tar Com
pound, for coughs, colds and
croup, Foley Kidney Pills and
Foley Cathartic Tablets. For
sale at the Red Cross Drug
Store. Adv.
—Jein Community Club—
Mr. J. F. Morgan, who
furnishes the Missouri Pacific
Ey. Co. more cross ties than
any other man in Arkansas,
attended a meeting of the rail
road tie dealers in Little Rock
Monday.
WALTER W. RANEY
Phone 40
UNDERTAKER AND
LICENSED EMBALMER
McCrory, Arkansas
Calls Answered Day or
Night.
1
j
THE UNIVERSAL CAR
EVERY FORD OWNER SHOULD KNOW
Just what Ford service is, and why it is dif
ferent from ordinary garage service. The Ford
dealer is a part of the Big Ford Family. He
carries a large stock of genuine Ford parts
for repairs and replacements, and he uses
only genuine parts because he knows the im
itation parts are not dependable.
He has a thoroughly-equipped, up-to-the-min
ute garage with tools that enable his Ford
mechanics to efficiently and properly make any
repair—from a minor adjustment to a com
plete overhaul.
Now, we are Authorized Ford Dealers—a
part of the great Ford Service organization
which was formed chiefly to put within each
community a dealer who would have more
than a passing interest in Ford repairs and ad
justments. Drive in or phone and we’ll come
for your car.
RIGGS BROTHERS, McCrory, Ark.