Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-02-24
NE W INCOME TAX
PAYMENT IS DUE:
THE COVE RNNENT
BEFORE MARCH 15
Single Men Earning $1,000 a
Year Must Pay, Married
Men Without Children Earn
ing $4,000 Are Reached,
FIGURING THE TAX
NO SMALL MATTER
One Fourth Must Be Paid By|
March 49, Second Install
ment in June, Third in Sep
tember, Last in December
lay MORNING JOURNAL SPECIAL trAsto msel

Jay MORNING JOURNAL SPECIAL tEAsUn wiRIl
Washington. Feb, 23.-Withn the
next three weeHs, or by March Is,
every unmarried man or woman who
earned $1,000 or more in the calendar
year 1913 and every married person
whose income amounted to $4,000 or
more, must make a detailed report of
his income to the federal revenue col
lector of his district. on or before
March &c the first installment of the
income tax must be paid, onc-fuurth
of the entire amount due, or all of it
if the taxpayer chooses.
This means that millions of Ameri-
cans must get to work AT once to pre-
pare their returns, and for the Suid-
anCe of taxpayers, the Internal rcVe-
nue. bureau has issued explicit in
structions covering the preparation
and filing of returns. This is the ~
B g of the procedures
First get tax return form from
the revenue collectors office or from
a bank There are many kinds of
these forms. If persons income'was
below $4,000, he should ask fer, the
form especially intended for the SMALL
er incomes. 1t might be advisable to
get two or three of these forms, since
one may be spoiled in the prepara-
ton. The form is Il siX-page printed
sheet, with detailed Instructions for
reporting various items of income and
for calculating the tax due by fol-
lowing this form closely oven nm mex
perienced person PROBABLY Will have
little difficulty particularly If his
source of income was not complicated
or if it was in wages or salary rather
than in business transactions,
The tax rate for most individuals IS
per cent, For a single person this
is imposed on the difference between
the total net income for the year and
$1,000 the so-called exempted
amount For married man, or for
the heads of family, the exemption
is ST. 900 and the per cent tax is
imposed on the difference between
that and the total income. There is
provision for an additional exemption
of 5000 for each child or other depend
ent person, under rs years Of age or
incapable of selfsupport. Thus q
married man with one child or an
aged parent would have an exemption
of $1,000 and would pay tax on the
difference between this and his net in
come. A man with two children would
have an exemption of $2,400; three
children, $4,000, and so on.
To Illustrate the calculation of tax:
A single man with net income last
year of $4,000 will be taxed $50; in
come of $4,000, tax $120; income of
$4,000, tax $3.50; income of $4,000,
tax.$240.
A married man without children
and with an Income of $4,000 last
year will pay a tax of $50; income
$4,000 $50; income of $4,000, tax
$12O; income of $4,000, tax $3.50.
The Normal Tax.
The regular normal tax is II per
cent on incomes of more than 5000
in case of unmarried persons and
more than $4,000 in the case of mar
ried persons without children. In 9th
er words the tax is doubled on in
comes of $4,000 more than the spe-
cific exemption. In addition, so-called
surtaxes superimposed on the regular
or normal tax are assessed on net in
comes of more than $1,000 the addi-
tional rate being ! per cent for the
first 81 900 above that sum, per cent
for the next $4,000, 3 per cent for the
next $4,000 and ! per cent Increase
for each additional $4,000. Both the
12 per cent rate and the surtaxes may
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