The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1922-01-16

Made Returns Last Year-IIeayy Pen
atty for Failure to File Return and
Pay Tax on Time.
BURLINGTON, Jan. 1G-The fol
lowing statement is issued by the col
lcctor of internal revenue. r. w. Me
Cuen. for the district of Vermont:
Forms 1040A. revised and simplified,
for filing individual returns of income for
the calendar year 1921 of $1,000 and
less will be available "Wednesday, Jan.
Is. at the Office of collector of internal
revenue. Burlington. Vt.
\ copy will be mailed to taxpayers
who last year fled a return, but fail
IRE to receive the form does not relieve a
taxpayer of his obligation to file a re-
turn on time-On or before March Il.
1902. The form has been reduced from
six to four pages, two of which are de
voted to instructions which should be
carefully read by the taxpayer before
filling in the blanks \ study of these
instructions will greatly lessen difficult
ties heretofore encountered in correctly
making out the returns.
Description of Blanks.
On page 1. under the head of In
come are spaces for reporting the fol-
sions, etc, :. income from partnerships.
fduciaries. etc; rents and royalties
profit tor losSl from business or profess
sion: profit tor lCss) front sale of real
estate; profit Cor loss) from sale Of
stocks. bonds, etc. and other income. !
Beneath are spaces for entering dCduC- |
ti0n+, such as interest and taxes paid |
during the year; losses by fire, storm, !
Shipwreck. or other casualty or by theft, |
contributions, bad debts, etc.
On page > are spaces for entering eX-
plantations Of the various items: j. @, !
the total amount &c income from buSi- /
ness or profession. with description
store" laundry" doctor" lawyer
"fam"r.D from rents, and royalties, |
sale of property, etc.
Who Must Make Returns.
Returns are required Of every single |
and every married person not living with !
husband or wife, whose net income for /
1921 was $1,000 or more and of every
married person living with husband On
wife whose net income was $4,000 or |
more If the cOmhHIed' net income -0f |
husband, wife and dependent minor chill /
dren equalled or exceeded $1,000, or ifI
the combined gross income of husband. /
wife and dependent minor children |
cduallcd or exceeded 5000, all such in /
come must be reported on e joint return
or in separate ret4rhq of husband and +
wife If single and the net income in |
Guiding that of dependent minors. Of
any. equalled or exceeded $1,000, or if
the gross income equalled or exceeded |
$1,000, Il return must be filed. \ minor, |
ECWcvcr. having Il net income of 81 900 |
or $1,000, according to marital status, |
or a gross income of $1,000. must file |
n return The requirement 10 file a re-
turn OF gross income. regardless of the T
amount of net income, upon which the |
tay is assessed is Il new provision.
Net income is GIOSS income less Ger |
tain deductions WHICH are explained on |
the form. /
Mutt File Return Anyway.
Under each of the above conditions. |
a return must be fled even though no |
tax is due. The exemptions are $1,000 !
fer single persons and married persons !
not living with husband or wife s. 800 !
fur married persons living with nus !
band or wife whose net income for 1921 ,
was $1,000 or less and $4,000 for such !
persons whose net income was more than |
$1,000. The exemptions for dependents |
n person under IS years of age or men
tally or physically defective" has been
increased from 5000 to $500.
\ head of a family--a person who |
actually supports in one household one !
or more persons closely related to him |
Tor herr by blood, marriage or adoption) |
Is granted the same exemptions allowed |
a married person.
&Or1nal Tax Rate Same.
Tie normal tax rates are unchanged. |
+ per cent on the first $1,000 of net in |
come above the exemptions and per |
cent on the remaining net income The |
tax this year. as last. may be paid in |
fun at the time of filing the return. or /
in four equal inStallments due on or |
before March u. June Is. Sept. l.. and |
De-" IL
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 release of Forms !
1910 for filing individual return Of in |
come of more than $4,000.