The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-01-10
1921 INCOME FACTS
YOU SHOULD KNOW
~ Was YOUR income for 1seOc

What was your income for l9ZV'
4, answer 70 this question IS re-
Uu!red by the Government OF every SIN
s.c person imam, woman or ch'iu' IN '''e
United States wnoSe net income was
$1,000 or more. and ~ every marricu
PERSON whose net income was S-.oV'
or more. Heavy penalties are provided
oy the revenue act for those VINO IA!
of "w!llfully refuse" 20 comply.
The reriod for filing returns for the
calendar ycor 1929 Is from January to
March IS, 1921. The Bureau Of Inter
nal Revenue estimates that with IN this
nerlod there viii be flied 4.0e0,00O In
dividual iucarne tax returncs. II - Ger
tain a percentage OF these returns VII!
DO Incorrect. not because Of d!shoneSt
intent on the part OF tne taxpayer ont
because ot error IN making out the
forms. Erroneous Interpretation or mo
law and regulations governing the coli
lection OF the income tax and careless
mass cause numerous mistakes. and re-
suit in the initial assessment ana COL
lection Of considerably greater or lesser
amounts than are actually due. Fre-
ouently these mistakes result, IN over
payment. return OF which is made upon
a claim tor refund Where. upon verb
ncation and audit. underpayInents are
shown. taxpayers as 4 rule are pre-
nared promptly 70 amend their returns
and paw the additional tax due. In either
event. tnere Is trouble for both the tax
mayer and the Government.
Bureau Aids Taxpayers.
To the end that this year such errors
may be reduced 20 a minimum. the
Bureau cf Internal Revenue Is making
special effort to inform taxpayers o.
their rights and duties under the rev.
emu. act as Interpreted b. rulings ana
regulations of the Treasury DEPARTMENT.
There has been prepared with the OF
nclal APPROVAL Of the bureau q series or
snort articles. OF which this is the first.
telling the taxpayer how 70 mako out his
1920 return. when and where 70 fiie Il,
and what 10 do IN the event he meets
with unusual difficulties. Errors most
'Fre1uently are noticed in the audit Of
previous returnes have Seen divided INTO
classes. Zach Of which WIN be treaties
IN an information way. Will" thcre ~
To actual change n the law. there may
nnys neen issued during the last year
na-v rulings and decisions bearing on
rs various sections. an OF which are OF
heneR, 70 the taxpayer IN the making or
a correct return.
1890 Exe-upttons.
Tho exemptions for 1890 are Sl.HSe
sor single parsons, $4,000 for married
persons and heads OF families. Plus
rears OF age or incapable OF self-sup-
mort The normal rate is 4 per cent on
the first $4,000 OF net income aoouvs the
assumptions and per cent on the re-
manning net income. This applies 70
every citizen and resident OF the United
STATES. Alien nopres!dents receiving
income from sources within the United
states are taxed to the full per cent
on net Income from such sources. Tine
s,Irtax rates range from I per cent on
Income between $4,000 and SS.600Q to 80
per cent on income in excess OF Sf.0pO''
0OO. Net income" Is gross income Tess
certain specified deductions.
Nay Pay IN Miscellaneous.
The tax. this ytar as last. may be
paid in full at the time OF Ming the re-
turn. Of in four equal iustallmen:s, ,dus
on or before March 10. June Is. Sep
tember IL. and December Is. The nrst
Installmeat must accompany the Ming
Of the return Forms 104OA for incomes
Of $4,000 and less and 1910 for incomes
OF more tnan $1,000 have been revised
and contain Instructions which X care
FULLY read and followed will De OF great
aid to the taxpayer IN the making Of hts
return.
Forms will be sent TO the persons who
last year filed returns OK 1919 'neome.
Failure TO receive q form, however. does
not relieve person Of his obligation
20 file n return and pay the tax on time.
Copies may BE- obtained from offices Of
collectors OF Internal revenue bronch
offices and banks. The return. sworn
20 before a notary. or other person au-
thoriZed TO administer oAths. must be
a,ed with the collector for the district
N which the taxpayer l!ccs or has hi,
principal place Of business.
Second income tax article appears to-
mOrroM.