Dissimilar metals can get some corrosion build between the lower cap if it's brass and the sediment bowl (cast iron). If both are cast iron then disregard. It will need several heating and cooling cycles to free it up. It doesn't take much more than the temperature of boiling water to free things up sometimes. Put it in a sauce pan with water and bring it to a boil then let it cool down. It may take several times to free it up. Carefully take the hot assembly and put it in the freezer to further shock the threaded fit up. Expansion and contraction will free most things up. I use the torch on bolts and non fuel related fasteners but some just have to be cut off if the corrosion is extensive. A person can use heat on fuel related parts but all traces of the fuel have to be removed before heating or welding on a fuel related assembly.
The late type sediment bowls also have a packing nut for the valve. Is this an early type or a late type sediment bowl? There is a difference in the size and placement of the screen caps.
Oh Model A! Happens. Try and find a socket or box wrench that will grab at all the corners and give that a try after soaking with Kroll or other real penetrating oil. Might also use a brass wire brush to clean the thread some first.
I'm a believer in using a mixture of 50/50 acetone and ATF for these kind of problems. This has always works better for me than the stuff that comes in the squirt cans.