Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1922-01-27
INCOME TAX BLANKS.
Things That Are Required In the Max
ina of Returns.

The following statement Is issued by
Acting Collector Of Internal Revenue
w. r. Bradley the district of South
Carolina, Columbia, South Carolina:
Form 1040-a revised and simplified,
for filing individual returns Of income
for the calendar year 1921 of $4,000 and
less are now available at the office of
the collector of internal revenue, Co.
lunabia, S. c. A copy will be mailed to
taxpayers who leEt year filed a return,
but failure to receive the form does
not relieve n taxpayer of his obligation
to file q return on time-on or before
March Is, 1922. The form has been
reduced from six to four pages, two
of which are devoted to instructions,
which should be carefully read by the
taxpayer before filing in the blanks
A study of these instructions will
greatly lessen difficulties heretofore
encountered in correctly making out
the return.
On page 1, under head Of Income"
are spaces for reporting the follow
ing items: Salaries, wages, commits
sions, etc.; income from partnerships
fiduciaries, etc.: rents and royalties;
profit (or loss) from business or pro-
fession; profit Cor loss) from sale of
real estate; profit Cor loss) from sale
of stocks, bonds, ETC., and other In
come. Beneath are spaces for enter
ing deductions, such as interest and
taxes paid during the year; losses by
fire, storm, shipwreck, or other casual
ty or by theft, contributions, bad
debts, etc.
On page are spaces for entering
explanations of the varies items: l. e.,
the total amount Of income from bus
mess or profession, with description
"srocery," 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 $1,000 or more,
and of every married person living
with husband or wife, whose net in
come WIS $1,000 CT more. If the COM
bined net income of husband, wife and
dependent minor children equalled or
exceeded $4,000, or IL the combined
gross income of husband, wife and de-
pendent minor children equalled or cX-
ceeded $4,000, all such income must be
reDorted on a joint return or in sepa-
rate returns of husband and wife. III
single and the net income Including
that of dependent minors, If any,
equalled or exceeded $1,000, or If the
GROSS income equalled or exceeded
5000. a return must be filed. A minor,
however, having net income OF $l'oOo
or $4,000, according to marital status
or = gross income of $4,000, must file
a return. The requirements to file q
return of gross income, regardless Of
the amount of net income, upon which
the tax is assessed is q new provision.
met incorae" is gross income less
certain deductions which are explained
on the form.
Under each of the above conditions,
n return must be filed even though no
tax is due. The exemptions are $1,000
for single persons and married persons
not living with husband or wife, $4,000
for married persons living with hus-
band or wife whose net income for
1921 was $4,000 or less and $4,000 for
sucb persons whose net income wa9
more than $4,000. The exemptions for
dependents "a person under eighteen
years of age or mentally or physically
defective" has been increased from
5000 to $400.
A head of q famlly-a person who