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Form 1012

Monthly Return of Normal Income Tax to be Paid at Source

Form 1012 is the monthly return to be filed in duplicate on or before the 20th day of the month following that for which the return is made by the debtor corporation or its withholding agent with the collector of internal revenue for the district in which the debtor corporation or its withholding agent is located.

The return should include all items entered separately of interest on bonds, which contain or do not contain a "tax-free" covenant clause, of domestic and resident corporations, and foreign corporations having a paying agent in the United States with which items Form 1000 or Form 1059 have been filed.

If Form 1059 is substituted for Form 1000 by a bank or other paying agent, Forms 1000 so detached must be forwarded to the Commissioner of Internal Revenue.

A certificate on Form 1000 (or Form 1059 when substituted therefor) covering each payment entered thereon should accompany the return. In the absence of certificates covering registered bonds executed by the owner of the bonds (in cases in which Form 1000 should be filed), the debtor corporation or its withholding agent should prepare reports on Form 1000, which forms need not be signed.

Certificates on Form 1059 should be listed on the return, the serial number given the original certificate being entered in the column headed "Name of Payee."

If certificates of ownership do not accompany coupons, the first bank receiving such coupons should require of the payee an affidavit showing name and address of payee; name and address of debtor corporation; date of maturity of interest; name and address of person from whom the coupons were received; amount of interest; and a statement to the effect that the owner of the bonds is unknown to him. This affidavit shall be forwarded to the Commissioner of Internal Revenue with a return on Form 1012. The first bank should prepare Form 1000, crossing out "Owner" and inserting "Payee," entering the amount of interest, due date, and date paid, in the proper spaces and stamping or writing across the face of the certificate "Affidavit furnished (insert name of bank)."

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If debtor organization makes its own return, no entries need be made on lines provided for name and addrew of withholding agent. This return must be made by debtor organizations, or their duly authorized withholding agents, and must show, by months in which the income was paid and reported on Form 1012, the total amount of tax to be paid at source on each of the following clames of payments:

1. Interest on bonds with tax-free-covenant clauses paid to citizens and residents of the United States (individuals and fiduciaries) not claiming personal exemption, to domestic and resident partnerships, to nonresident alien individuals or duciaries, to foreign partnerships, and to foreign corporations having no office or place of business in the United States. A normal tax of 2 per centum is required to be withheld and paid at source in such cases.

2. Interest on bonds without tax-free-covenant clauses:

(a) If paid to a nonresident alien individual, a normal tax of 8 per centum is required to be withheld and paid at source.

(b) If paid to a foreign corporation having no office or place of business in the United States, a normal tax of 19 per centum is required to be withheld and paid at source.

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I swear (or affirm) that the above return is a full and complete summary of the amounts of normal tax (heretofore reported on monthly returns on Form 1012, which are hereby made a part of this return) required to be withheld from payments made by the above organization during the year 1919,

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Form 1013

Annual Return of Normal Income Tax to be

Paid at Source

Form 1013 is the annual return of normal tax withheld during the year, summarizing the monthly reports covered by Form 1012, and must be executed under oath and filed in duplicate on or before March 1, by the debtor corporation or its withholding agent, with the collector of internal revenue for the district in which the withholding corporation or its agent has its place of business. The tax withheld must be paid on or before June 15.

The payment of interest upon which no tax has been withheld should not be reported on Form 1013.

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This return is required to be made by all individuals, corporations, and partnerships, in whatever capacity acting, including lewees or mortgages of real or personal property, fiduciarice, employers, and officers and employees of the United States having the control, receipt, custody, disposal, or payment of interest, rent, salaries, wages, premiums, annuition, compensation, remuneration, emoluments, or other fixed or determinable snegal er periodical gains, profits, and income of nonresident alien individuals or foreign corporations not engaged in trade or busins within the United State and not having any office or place of business within the United States

The law requires that a tax equal to 8 per centam of the amount paid as salaries, wages, rent, etc., to individuals and 10 per centum of the amount paid to corporations shall be deducted and withheld. If any tax required to be deducted and withheld is paid by the recipient of the income, it shall not be recollected from the withholding agent Inome derived from dividends on the capital stock or from the net earnings of a corporation, joint-stock company, or insurance company, which is taxable upon its net income under the Revenge Act of 1918 is exempt from with holding and should not be reported.

This return must be accompanied by a report on Form 1098 of income paid for every item entered hereon.

I swear (or affirm) that the following is a true and complete return of all payments of salaries, wagm, interest, resta, etc., made during the culendar year 1919 by the above withholding agent and of the tax withheld on payments of income, as above described, to nonresident alien individuala and foreign corporations as defined above, the several items being evidenced by reports which are listed below and inclosed herewith showing the name and address of the recipient of the income, the kind and amount of income paid, and the amount of tax withheld.

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Form 1042

Annual Return of Normal Income Tax to be

Paid at Source

Form 1042 is the return of normal income tax withheld at source on payments of interest, rent, salaries, wages, premiums, annuities, compensation, remuneration, emoluments, or other fixed or determinable annual or periodical gains, profits and income paid during the year to nonresident alien individuals or foreign corporations not engaged in business and not having an office in the United States.

Interest on bonds of domestic and resident corporations should not be reported on this return. Dividends on the capital stock or from the net earnings of a corporation, joint stock company or insurance company, taxable upon its net income, is exempt from withholding and should not be reported.

Form 1042, executed under oath, must be filed in duplicate by the payor of the income with the collector of internal revenue for the district in which the payor is located, on or before March 1 of the year following that during which the payments were made. This return must be accompanied by a report on Form 1098 for each item entered thereon. The tax withheld must be paid on or before June 15.

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