The Cordova daily times., 1922-02-07
REPORT
 MUST BE FILED BY MARCH E

ington, which includes Alaska:
 ] Forms 1040A, revised and sim ! plified, for filing individual returns of income for the calendar year 1921 of $5,000 and less were available Wednesday. January IS at the office !, of Collector of Internal Revenue Ta- coma, Washington and the following brapeh offices, Seattle, Washington and Spokane Washington. A copy will be mailed to taxpayers who last year filed a return, but failure to re- ceive the form does not relieve taxpayer of his obligation to file a return on time-on or before March l 15, 1922. The form has been re- duced from six to four pages, two of which are devoted to instructions which should be carefully read by ] the taxpayer before filling in the blanks A study of these instruc- tions will greatly lessen difficulties heretofore encountered in correctly making out the TeturnS.
 On page 1, under the head of ''In- come" are spaces for reporting the following items: salaries, wages, commissions, etc, income from part ner ships, fiduciaries, etc.; rents and royalties; profit Cor loss from busi- | ness or profession; profit Cor loss) from sale of real estate; profit Cor lbss) from sale of stocks bonds, etc. and other income. Beneath are spaces for entering deductions, such as interest and taxes paid during the year: losses by fire, storm, ship wreck, or other casually or by theft, contributions, bad debts, etc.
 On page 3 are spaces for entering explanations of the various items; i.e,, the total amount of income from business or profession, with descrin- tion ("grocery," retail clothing" " drug store,'' laundry" doctor" :" lawyer" "farmer') from rents, and royalties, sale of property, etc.
 Returns are required Of every single person and every married person not living with husband or wife, whose net income for 1921 was 5000 or more, and of every married person living with husband or wife whose not income was $2000 or more. If the combined net income of husband, wife and dependent minor children equalled or exceeded 5000. or if the
 rmbined gross income of husband wife and dependent minor children equalled or exceeded $5,000 all such income must be reported on joint return or in separate returns of husband and wife. H single and the net income including that of de- pendent minors, if any, equalled or exceeded $1,OOo or if the gross in- come equalled or exceeded s5,000 a return must be filed. A minor, however. having net income of $1,000 or $2,00O, according to marital status or a gross income of s5,O00 must file a return. The requirement. l to file a return of gross income, regardless of the amount of net in- come. upon which the tax is assessed is new provision.
 Met income" is gross income less certain deductions which are ex- plained on the form.
 1 Under each of the above conditions, a return must be filed even though no tax is due. The exemptions are 5000 for single persons and married persons not living with husband or wife whose net income for 1921 was $5O00 or less and $2000 for such persons whose net income was more than $5O00 The exemptions for de- pendents "a person under eighteen years of age or mentally or physically defective" has been increased from $200 to $4O0
 A head of family--a person who actually supports in one house. hold one or more persons closely re- lated to him tor her) by blood, mar riage or adoption, is granted the same exemptions allowed married person fl The norwal tax rates are un changed, per cent on the first $4000 of net income above the ex- emptions and per cent on the re. maining net income. The tax this year, as last, may be paid in full al the tihme of filing the return. ol in four equal installments, due or