Cottonwood Chronicle Newspaper, March 12, 1920, Page 6

le = Sled ed le We carry a complete line of stat- ionery, cigars and candies Drugs of all Kinds Theodore F. Schaecher Prescription Druggist Rexalk COTTONWOOD DRAY AND TRANSFER LINE CAMPBELL & ROBBINS, PROPS. Light and Heavy Hauling Done on Short Notice Simon Bros. Wholesale and Retail BUTCHERS Dealers in Hides, Pelts, and all kinds of Poultry IDAHO COTTONWOOD, Have just received a new shipment of furniture and we invite you to inspect the new line The Prices are Right Nau’s Furniture ae } COTTONW OOD . - Complete line of Funeral Furnishings carried’ “ll Tell the World’’ says the Good Judge The man who doesn’t chew this class of to- bacco is not getting real satisfaction out of his chewing. A small chew. It holds its rich taste. You don’t have to e sO many fresh chews. Any man who uses the Real To- bacco Chew will tell you that. Put Up In Two Styles RIGHT CUT is a short-cut tobacco W-B CUT is a long fine-cut tobacco aD DADADARERRAR EDS aie teed GIFTS OF FLOWERS ALWAYS APPEALING—ALWAYS SATISFYING Send Them Often To Your Friends L. B. HILL, FLORIST, LEWISTON, IDAHO ae The Place To Get Those FRESH ROASTED PEANUTS ——and that FRESH etic SmasT Pop Conn Ji = Copy for change of ad must ‘be hand y) war, } | remainder being of home manufacture. | 000 boxes were consumed in Japan, and COTTONWOOD: CHRONICLE | GEORGE MEDVED Issued Every Priday and entered at | Postoffice in Cottonwood, Het as second-class mail matter: Subscription one yout .. Six months (Strietly in savance) | INDEPENDENT IN POLITICS — ed in by Wty to insure change FRIDAY, MARCH 12, 1920 U.S.INCOMETAX EXEMPTS NOBODY Every Person Who Had Income | in 1919 Must Determine Own Liability MARCH 15 LAST FILING DATE. | Surest Way |e te Follow Form 1040A. Free Advice in Doubtful Cases, | Severe Penalties in Law. nthe Nobody is exempt from Income Tax. An obligation is laid directly on the shoulders of each citizen and resident to consider his own case and to get his/| return in on time if one is due. | With each return showing a tax due & payment must accompany the return in the full amount of the tax or at least one-quarter of the tax. All returns for 1919 must be filed on or before March 15. Must Show True Figures, In figuring up his earnings for in- come tax purposes # person must take | into consideration all items of taxable | income, and each item itself must be accurate in amount. Gaesses and es- timates must be avoided, for the re turm is made under eath. Everybody who had an income dur- ing 1919 must now determine whether his or her net income was sufficient in amount to require an Income Tax re- | turn, The best way to find out is to get a Form 1040A and follow the in- structions 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 fle it. One of the important points to keep in mind is that a person's net income is found by a computation prescribed in the law, and that each item of ta- come from every source must be con- sidered, unless specifically exempted. Another thing to remember Is that the personal exemption allowed tax- payers by law has no relation whatever | to the requirement to file return, This { exemption Is not to be considered until | a person bas figured out his net to- come and determitied whether it was | sufficient to require him to file a re- turn. Then, ff a return must be filed, he should read carefully the instruc- tions for clalming exemption, and com- plete bis return. If in doubt on any point as to income or deductions, a person may secure free advice and aid from the nearest Internal Revenue office. Many banks and trust companies are alse furrish- ing similar service during banking hours. Heavy Penalties in Law. For failing to make a return on time the penalty is a fine of not more than $1,000 and an addition of 25 per cent to the tax, if any. For making a false or fraudulent return the penalty is a fine of not more thag $10,000 or im prisonment not exceeding one year, or both; and, in addition, 50 per cent of the tax. There are other pcraities for falling to pay tax when due, and for understatement of the tax through negligence. Many Sources of income. Aside from what one may earn by his services, there are mauy other = sources of income. If he sold any | = property during 1919 he must figure out the gain realized, If he rented |= buildings, land, apartments or rooms | 3 such rents must be considered taxa- ble, and be may claim deductions for mecessary expenses incidental to rents. Bank interest is a common source | of income and is taxable whether with. | = drawn or not. Any amount ef interest credited to a depositor is income te the depositor. | Interest on mortgages and notes is taxable; also bond iuterest received | = from corporations, A taxpayer who cashed his insur- | = ance Gv‘ing 1919 must report as \n-| come any excess received over the to- | tal of premiums paid. Members of part#erships or person- al service corporations or beneficiaries | of an estate or trust must report their = shares of income distributable to them | whether or not actually withdrawn. Dividends of domestic corporatiens must be reported.” Many other forms = Mr mm a =| of income are taxable, unless specifical- ly exempted. Big Glass Industry in Japan. The plate glass industry in Japan has greatly expanded since the world | Before the war about 550,000 |= boxes of glass were consumed annual- ig ly, 420,000 boxes of which were im- | ported from Belgium and Germany, the | 3 In the past year 850,000 boxés were manufactured in Japan, of which 600,- the remaining 250,000 boxes were ex- ported.—New York Tribune. gna Maybe You Need Some Help IN DETERMINING THE COST OF THE MATERIAL NEEDED FOR SOME NECESSARY IMPROVEMENT? ALL RIGHT! WE ARE HERE TO HELP YOU. FIGURING ESTIMATES ON BUILDING MATERIAL IS AS MUCH A PART OF OUR BUSINESS AS LOADING LUMBER ONTO YOUR WAGON. WE HAVE BY FAR THE BEST ASSORTMENT OF THE BEST MATERIAL TO SELECT FROM, AND IF WE CAN’T SHOW YOU A REAL MONEY ADVANTAGE IN BUYING FROM US, THEN YOU ARE AT LIBERTY TO BUY ELSEWHERE. BUT GET OUR ESTIMATES, ANYWAY. WE'LL TRY TO MAKE YOU SOME INTERESTING FIGURES. Hussman Lumber Co. “Home Builders” AAA MM Coats Suits f SPRING FROCKS a Dresses Waists And Skirts We have and take pleasure in showing = you the very latest models in spring = and summer frocks. We placed our order early in the sea- son, consequently we bought at a great saving and can offer these late models at a reduced price. , Leggett Mercantile Co.