The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1922-01-25
1axs,BIanks Soon
to Be Sent Out
RETURNS ARE REQUIRED OF
EVERY PERSON WHOSE IN
COME is $1,000.

Tor ming 1ndlVlQual returns OF income
for the calendar year 1921 of $4,000
and less will be available Wednesday,
January 18 at the office of Collector
of Internal Revenue, St. Paul and the
following branch offices: Minneapo-
lis, Duluth, St. Cloud, Mankato and
Winona A copy will be mailed to
taxpayers who last year filed re-
turn, but failure to receive the form
does not relieve taxpayer of his OBJ
legation to file return on tlnle-on
or before March 18th, 1922. The form
has been reduced from six to four
pages, two of which are devoted to in
structions which should be carefully
read by the taxpayer before filling
the blanks. A study of these instruc-
tions will greatly lessen difficulties
heretofore encountered in correctly
making out the returns.
On page /, under the head of en-
come" are spaces for reporting the
following items: salaries, wages, COM
missions, ETC.; income from partner
slip, fduciaries, etc.; rents and royal
tets, profit (or loss) from business or
profession; profit (or loss) from sale
of real estate; profit (or loss) from
sale of stocks, bonds, ETC., and other
income. Beneath are spaces for en-
tering deductions, such as interest and
taxes paid during the year: losses by
fire. storm, shipwreck, Or other cas-
ualty or by theft, contributions, bad
debts, etc.
On page 2 are spaces for entering
explanations of the various items;
i. e., the total amount of income from
business or profession, with the de-
scription grocery "retail cloth
ing" drug store" "lanudry,' "doc-
tor" "lawyer," ''farmer'O from rents,
and royalties, sale of property, etc.
Returns are required of every sim
gle person and every married person
not living with husband or wife,
whose net income for 1921 was $1,000
or more, and of every married per-
son living with husband or wife whose
net income was $4,000 or more. II the
combined net income OF husband, WlIe
and dependent minor children equalled
or exceeded $4,000, or if the combined
gross income of husband, wife and
dependent minor children equalled or
exceeded $4,000, all such income n:ust
be reported on joint return or IN
separate returns of husband and wife
IF single and the net income IN
Guiding that of dependent minors, II
anv. euualled or exceeded 81 900, on
if the gross income equalled or ex-
ceeded $4,000, return must be hled
A minor, however, having net IN
come of 1000 or $4,000, according
to the marital status or gross IN
come of $4,000, must file return
The requirement to file return OF
gross income, regardless OF the
amount of net income, upon which the
tax is assessed is new provision.
s'Net income" is gross income less
certain deductions which are explained
on the form.
Under each of the above conditions
p return must be filed even though nc
tax is due. The exemptions are $1,000
for single persons and married per,
sons not living with husband or wife
S25OO for married persons living With
husband or wife whose net income
for 1921 was $4,000 or less and $1,000
for such persons whose net income
was more than $4,000. The exemp'
tions for dependent "a person under
eighteen years of age or mentally OF
physically defective" has been IN,
creased from 5000 to $40O
A head of a family-a person who
actually supports in one household one
or more persons closely related te
him Cor herr by blood, marriage OF
adoption, is granted the same exemp
tions allowed married person.
The normal tax rates are unchang
ed, a per cent on the first $4,000 o.
net income above the exemptions ant
8 per cent on the remaining net IN
come. The tax this year, as last, ma!
be paid in full at the time Of filing
the return, or in four equal install
ments, due on or before March Is
l. June Is, September Is, and December
Heavy penalties are provided b!
the revenue act for failure to file {
return and pay the tax on time.
Announcement will be made thr.
the press of the date of release o.
Forms 1O40 for filing individual re
turn of income of more than $4,000.