The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1922-01-26
INCOME REPORT

INCOME REPORT
The following statement is issued
by Collector of Internal Revenue
Evan Evans, the district of Idaho:
Forms 1040A, revised and simpli-
fed, 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, Boise,
Idaho, and the branch office at Poca-
tello, Idaho. 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 return on
time-on or before March Is, 1922.
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. A study
Of these instructions will greatly
lessen difficulties heretofore en-
countered in correctly making out
the returns.
On page one, under the head of
Income" are spaces for reporting
the following items: salaries, wages,
commissions, etc., income from part
nerships, fiduciaries, ETC., rents and
royalties; profit Cor loss) from bust
ness or profession; profit Cor loss)
from sale of real estate; profit Tor
loss) 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 casulty or by theft,
contributions, bad debts, etc.
On page two, are spaces for enter
ing explanations Of the various
items; i. e., the total amount of in
come from business or profession,
with description ("grocery," IRE
tail clothing" drug store" "laun-
dry" DOCTOR" lawyer" farmer")
from rents, and royalties, sale of
property, etc.
Returns are required of every
single person and every married per-
son not living with husband or wife,
whose net income for 1921 was
$1,000 or more, and Of every mar
ried person living with husband or
wife whose net income was $4,000
or more. If the combined net in
come of husband, wife and depend
ent minor 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 exceeded |
$1,000 or if the gross income equaled |
or exceeded $4,000, a return must be
fled. A minor, however, having a |
net income of $1,000 or $4,000 &C.
to marital status or a gross |
income of $4,000, must file return.
The requirements to file return of |
gross income, regardless of the |
amount of net income, upon which |
the tax is assessed, is a new pro-
vision.
met income is gross income less
certain deductions which are ex-
planned on the form.
Under each of the above condi-
lions, return must be filed even
Tho no tax is due. The exemptions
are $1,000 for single persons and
persons not living with hus-
band or wife, $4,000 for married
persons living with husband or wife
whose net income for 1921 was
$4,000 or less and $4,000 for such
persons whose net income was more
than $4,000. The exemptions for
dependents, "a person under eigh-
teen years Of age or mentally or
defective" has been in
creased from 5000 to $500.
A head of a family-a person who
actually supports in one household
one or more persons closely relate/
% him Cor herr by blood, marriage
)r adoption, is granted the same ex-
emptions allowed a married person.
The normal tax rates are un-
changed, 4 per cent on the first
$4,000 of net income above the ex-
,mptions and per cent on the re-
net income. The tax this
year, as last, may be paid in full at
he time of filing the return, or in
tour equal installments, due on or
before March Is, June Is, Septem-
Der Is and December Is.
Heavy penalties are provided by
he new revenue act of 1922 for fail
Ire to file return and pay the tax !
On time.
Announcement will be made thru
The press of the date Of release of
Forms 1910 for filing individual re-
turns of income of more than $oOu