Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1922-02-01
INCOME REPORTS
STILL REQUIRED
Raising of Amount of Exemptions
Does Not Relieve From
Statements.
REPORTS CALLED FOR FROM
SOME WHO ARE EXEMPT
Married Person With Net Incomes of
More Than $4,000 and Single
Persons With Incomes of
- More Than $1,000
Must Make
Report.

Dubuque, Iowa-The following
statement is issued by Collector of
internal Revenue, L. f. Bladine, of
the District of Iowa.
Forms 1040A, revised and simpli-
fed, for filing individual returns of
income for the calendar year 1921 of
$4,000 and less will be available
Wednesday, January Is, at the Office
of Collector of Internal Revenue at
Dubuque, and the following branch
Offices: Davenport, Ottumwa, Des
Moines, Council Bluffs, Sioux City,
Mason City, and Cedar Rapids. A
copy will be mailed to taxpayers
who last year filed a return, but fail
ure to receive the form does not re-
lieve a taxpayer of his obligation to
file a 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 filling in the
blanks. A study of these instructions
will greatly lessen difficulties here
tofore encountered in correctly MAX
ing out the returns.
On page /, under the head of an
come" are spaces for reporting the
! following items: Salaries, wages
commissions, ETC.; income from part
nerships, fiduciaries, etc.; rents and
royalties; profit Tor loss) from bust,
ness or profession, bonds, ETC., ano
other income. Beneath are spaces
for entering 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.
On page 2 spaces for entering ex
plantations Of the various items, l. e.
the total amount of income from
business or profession, with descrip
ton ("grocery," retail clothing,
drug store laundry" doctor,
"lawyer," "farmer") from rents, anc
royalties, sale Of property, etc.
Those Who Must File
Returns are required of every sin.
gle person and every married per-
son not living with husband or wife
whose net income for 1921 was 1000
or more, and of every married per-
son living with husband or wife
whose net income was $4,000 OF
more. If the combined net income
of husband, wife and dependent
minor children equalled or exceeded
! $4,000, or if the combined gross in
come of husband, wife and dependent
minor children equalled or exceed
$4,000, all such income must be re-
ported on a joint return or in sepa-
rate returns of husband and wife. If
single and the net income including
that of dependent minors, if any,
equaled or exceeded $1,000, or if the
gross income equalled or exceeded
$1,000, a return must be filed. A
minor, however, having a net income
of $1,000 or $4,000, according to
marital status or a gross income of
$4,000, must file a return. The re-
quirement to file a return of gross
income regardless of the amount of
net income, upon which the tax is
assessed is a new provision.
Net income" is gross income less
certain deduction which are explain
ed on the form.
Under each of the above conditions
a return must be filed even though
no tax is due. The exemptions are
$1,000 for single persons and mar
ried persons not living with husband
or wife, $500 for carried persons
living with husband or wife whose
net income for 1921 was $4,000 or
less and $4,000 for each such per-
sons whose net income was more
than $4,000. The exemptions for de-
pendents ga person under Is years of
age or mentally or physically de-
fective," has been increased from
5000 to S4O0.
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 ex-
emptions allowed a married person.
The normal tax rates are unchang-
ed, 4 per cent on the first $4,000 of
net income above the exemptions
and 8 per cent on the remaining net
income. The tax this year, as last,
may be paid in full at the time of
filing the return, or in four equal in
stallments, due on or before March
Is, June 10, Sept. 10, and Dec. 10.
Heavy penalties are provided by
the new revenue act for failure TO
file return and pay the tax on time.