The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-18
INCOME TAX
IN NUTSHELL
WHO? Single persons who had
net income Of $1,000 or more,

WHO? Single persons who had
net income Of 1000 or more,
or gross income Of IS, 900 or
more. Married couples who had
net income Of $1,000 or more, or
gross income Of IS 900 or more.
WHEN? March Is, 1929, Is final
date for filing returns and max
ing first payments.
WHERE? Collector OF internai
revenue for the district In which
the person lives, or has his prin-
cipal place Of business.
HOW? Four per cent normal tax
on taxable income up to "a 900
In excess Of exemption. Eight
Der cent normal tax on balance
Of taxable income. Surtax from
1 per cent to s. per cent on net
incomes over $1,000 for the year
1921.
Income Tax Facts.
Forms 1895 and 1899 for reporting
payments to others OF 81 900 or more
during the calendar. year 1921 may
be obtained at offices of collectors
of internal revenue and branch Of
fices. Under the Information at
source" provision of the revenue
act of 1921, report must be made
by all persons, trustees, fiduciaries.
guardians, and by corporations, per-
sonal service corporations, partner
ships and organizations of payment
to others during the year 1921 Of
81 900 or more.
A separate return of information
for each officer and employee whose
salary for 1921 was 81 900 or more
is required of employers. Payment
for overtime, fees, commissions.
bonuses, shares in the profits. and
the fair value of board and quarters
furnished as part payment for serv-
ices should be included in the total
wages or salary paid. Fraternal or.
CARNATIONS and associations are re.
quired to report salaries or other
compensation paid to officers. The
responsible officer of a church or
religious organization must report
salaries or remunerations paid to
paster or officers. Banks and SINH.
lar organizations are required to re-
port interest paid or credited to a
depositor IL the total during the year
equaled or exceeded $1,000.
Organizations having branch Of.
fices should file complete reports
through the main offices.
Returns by Agents.
Real estate agents, attorneys, or
persons acting for owners of prop.
erty who collect rents, interest or
similar income in behalf of the own
ers, and remit the sums so received
must make a report of the gross
sums actually or construtcively re-
mitted. The agent is not permitted
to make deductions for taxes, inter,
est, cost of repairs, etc, paid in be-
half of the owner in computing data
for making information returns.
Amounts paid for merchandise
kilograms, telephone, freight. storage
and similar charges; premiums paid
to insurance companies; amounts
paid to employees for expenses in.
CURED in business, etc, need not be
reported.
Approximately 10000, 900 return.
showing payments to others of 81 ,00C
or more were received during the year
1891. Information returns are care
fully checked with individual returns
and where IL is shown that a pay
ment was not reported by the re
cipient, quick action by the Bureau
of Internal Revenue follows. Thou
sands Of delinquents, and delinquent
taxes, penalties and interest aggre
eating hundreds of thousands of dol
lars have been discovered as the re
suit of this audit. This year, as last
information returns will be placed
in the hands of deputy collectors for
use in rounding up delinquents.
Information returns must be filed
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