The Alaska daily empire., 1922-01-23
NEW FORMS FOR INCOME TAX TO
 BE OUT SHORTLY
Simplihed Income Tax Return Blanks Issued-Mailed
 to All Sections.

News and probably less compli- cated forms have been prepared and are being mailed out from Tacoma, Seattle and Spokane for filing of in- come tax returns, according 10 a statement issued by Burns Poe, C ,l- lector of Internal Revenue. Thee forms cover incomes of 5000 and less, forms for incomes exceeding that amount have not yet been is sued.
 The statement of the Collector follows:
 Forms 1O4oA, revised and simpli- fled, for filing individual returns of income for the calendar year 1921 of $5,000 and less were available Wednesday, January IS, at the off } of Collector of Internal Revenue, Ia coma, Wash. A copy will be mailed to taxpayers who last year filed a return. but failure to receive the form does not relieve a taxpayer of his obligation to file a return on time on or before March 15, 1922. The form has been reduced from six to four pages, two of which are devoted to instructions which should be care fully read by the taxpayer before fill ing in ths blanks. A study of these instructions will greatly lessen diffi- culties heretofore encountered in cor rectly making out the returns.
 On page 1, under the head of ''ln come" are spaces for reporting the following items: Salaries, wag IS. commissions, etc, income from part nerships, fiduciaries, etc; rents and royalties; pr oft Cor loss) from busi- ress 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 entering deductions, snch as interest and taxes paid during the year; losses by fire, storm, ship wreck, or other casualty or by theft, contributions, bad debts, etc.
 On page 2 are spaces for entering explanations of the various items; i e., the total amount of income lIOul DuSlueSo Ol piolcooiou, WftH uC scription ("grocery," retail cloth ing" "drug store" laundry" doc tor" Lawyer" "farmer") from rents. and royalties, sale of property, etc.
 Returns are required of every sin gle person and every married person not living with husband or wife, whose net income for 1921 was $1,000 or more, and of every married per son living with husband or wife whose net income was ! $2,000 or more, If the combined net income of husband, wife and dependent minor children equalled or exceeded $2,000, or if the combined gross in come of husband, wife and dependent minor children equalled or exceeded $5.000, all such. income must be re- ported on joint return or in sepa- rate returns of husband and wife If single and the net income including that of dependent minors, if any, equallcd or exceeded $1,000, or if tne gross income equalled or exceeded 5000, return must be filed. A minor, however, having net income of $100O or $2,000, according to mari tai status or gross income of $5,000, must file a return The requirenl ent to file a return of gross income, re- gariless of the amount of net income. upon which the tax is assessed Is a new provision.
 "Net income is gross income less certain deductions which are ex- plained on the torri.
 Under each cf the above condi- though no tax is due. The exenp- tions are $1,G00 for single persons and married per sons not living with husband or wife, $2,500 for married persons living with husband or wife whose net income for 1921 was 5000 or less and $2,000 for such perso Is whose net income was more than 5000. The exemptions for depend ents "a person under IS years of az or mentally or physically defectivc has been increased from $2O0 to $4GD
 A head of family-a person who actually SuppCrS Tn one nOuSenotu one or more persons closely related to him Cor her; by blood, marriage or adoption, is granted the same ex emptions allowed a married person. The normal tax rates are un changed, per cent on the frs : $4,OOO or net income above the ex
 emptions and per cent on the re
 maining net income. The tax thls
 year. as last, may be paid in full 2 the time of filing the return, CT T I four equal installments, due oo O
 before March 15, June 15, Sept ,iate
 l. and December 15.
 Ieavy penalties are providel b.
 int new revenue act for failure t I fiIe a return and pay the tax ol time