The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-17
INCOME BLANKS
SOON WILL GO
TO TAXPAYERS
Return for 5000 or Over Class
Distributed Later; Blank WIN
Be Smaller.

Forms for fling individual re-
turns of income of $1,000 and less
can be had at the internal revenue
ONCE, federal building in this city,
tomorrow. The forms, No. .1040A,
have been revised and simplified for
fling the returns for the calendar
year 1921.
A copy will be mailed to taxpay-
ers who last year filed a return, but
failure to receive the form does not
ton to file a return on or before
March Is.
The form has been reduced from
six to four pages, two OF which are
devoted to Instructions A study of
the instructions will greatly lessen
difficulties in making out the re-
turns.
Under the head of Income" on
page 1 are spaces for reporting
salaries, wages, commissions, ETC.,
incomes from partnerships, fidu-
ciaries, ETC.; rents ond royalties;
profit Tor loss) from business or
profession; profit Tor loss) from
sale of real estate; profit Cor loss)
from sale of stocks, bonds, etc, and
other income. Beneath are spaces
for enterting deductions, such as in
terest and taxes paid during the
year; losses by fire, storm, ship
wreck or other casualty, or by theft,
contributions, bad debts, etc.
Spaces ON page 2 are for enter
ing explanations of the total
amount of income from business or
profession, with description ("gro-
Gerry, retail clothing, drug
store, laundry, doctor, law
yer, 'farmer") from rent and roy
alties. sale of property, etc.
Those Who Make Return.
Returns are required of every
single person and every married
person not living with husband or
wife, whose net income for 1921
was 1900 or more, and of every
married person living with husband
or wife whose net income was
$1,000 or more. If the combined
net income of husband, wife and de-
pendent children eQualled or ex-
ceeded $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 a joint return
or in separate returns of husband
and wife. If single and the net in
come including that of dependent
minors, if any, equalled or exceed
ed $1,000, or if the gross income
equalled or exceeded $4,000, a re-
III TInd
ever, having a net income of $1,000
or $4,000, according to marital
status or gross income of $1,000,
must file a return. A requirement
to file a return of gross income, re-
CARELESS of the amount of net in
come, upon which the tax is as
sessed, is new provision.
Met income" is gross income
less certain deductions which are
explained on the form.
Under each of the above condi-
ions, return must be filed even
though no tax is due. The exemp-
tions are $1,000 for single persons
and married persons not living with
husband or wife, $4,000 for married
persons living with husband or
wife whose net income for 1921 was
$1,000 or less and $4,000 for such
persons whose net income was
more than $4,000. The exemptions
for dependents "a person under Is
years of age or mentally or physi-
cally defective" has been increased
from 5000 to $500.
A head of a family-a person
who actually supports in one
household one or more persons
closely related to him Cor herr by
blood, marriage or adoption, is
granted the same exemptions al
lowed married person
Normal Rates Unchanged.
The normal tax rates are un-
changed, per cent on the first J
$4,000 of net income above the ex-
emptions and S per cent on the re-
naming 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, Sep !
TENDER Is and December Is. Heavy
penalties are provided by the new
revenue act for failure to file a re-
turn and pay the tax on time.
Announcement will be made
through the press of the date of re-
lease of forms 1O40 for filing indi-
vidual return of income of more
kha1 mn