The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1922-01-20
GLAD TIDINGS FOR
OUR READERS.

! The following statement is issued
/ by Collector of Internal Revenue
Burns Poe. for the district of Wash
ington:
Forms 1040A, revised and simpli-
tied, for filing individual returns of
income for the calendar year 1927 of
$5 600 ard less will be available We'd
nesday, January Is at the office of
Collector of Internal Revenue. Ia
coma. Washington, and the following
branch offices, Seattle, Washington
and Spokane, Washington. A copy
will be mailed to taxpayers who last
year filed return, but failure to re-
ceive the form does not relieve a tax
payer from his obligation to file re-
turn on time--on or before March Is,
1922. The form has been reduced
from six to four pages, two of which
arc devoted to instructions which
should be carefully read by the tax
payer before filing in the blanks. A
stl 'y of these Instructions will great
ly lessen difficulties heretofore en-
countered in correctly making out the
returns.
Or page l, under the head of I'm
core are spaces for reporting the
following items: salaries, wages, COM
missions, etc; income from partner
SHIPS fduciaries, etc; rent and royal
ties; 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-
telIng deductions, such as interest
and taxes paid during the year; losses
by fire, storm, shipwreck, or other
cast atty or by theft, contributions,
ba1 debts, etc.
Or page 2 are spaces for entering
explanations of various items; i. e.,
the total amount of income from
business or profession, with descrip-
ton ("grocery," "retail clothing
drug store" laundry doctor"
'lawyer," "farmer'') from rents, roy
alties, sale of property, etc.
Returns are required of every
single married person not living with
hui hand or wife, whose net income for
1922 was $1,000 OF more, and of every
married person living with husband or
wife whose net income was $4,000 or
more. If the combined net income of
husband, wife 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 must be reported on
JOINT return or in separate returns of
husband and wife. If single and the
net income including that of depend
ent minors, if any, equalled or ex-
ceeded $4,000. return must be filed.
A minor, however, having a net in
come of $1,000 OF $1,000, according to
marital status or gross income of
$1,000 must file return. The re-
quirement to file a return of gross
income, regardless of the amount of
income, upon which the tax is as
sessed is a new provision.
met income" is gross income less
certain deductions which are explain
ed on the form.
Under each Of the above conditions,
a return must be filed even though no
tax is aue. The exemptions are $1,000
for single persons and married per-
sons not living with husband or wife,
$500 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 exemptions
for dependents, " person under
eighteen years Of age or mentally or
physically defective" has been in
creased from 5000 to S400.
A head of family-a person who
actually supports in one household
one or more persons closely related to
him (or herr by blood, marriage, or
adoption, is granted the same exemp-
tions allowed married person.
The normal tax rates are unchang-
ed, per cent on the first $4,000 Of net
income above the exemptions and 8
per cent on the remaining net income
The tax this year, as last. may be
paid in full at the time of filing the
return. or in four equal installments,
due on or before March IS, June Is.
September Is, and December IS.
Heavy penalties are provided by
the new revenue act for failure TO file
return and pay the tax on time.
nouncement will be made through
the press of the date of release Of
Forms 1910 for filing individual re-
turns Of income of more than $4,000.