Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1922-02-01
IMPORTANT INCOME
TAX INFORMATION


cnue. Robert II Lucas, District OF
Kentucky.
Forms l040A revised and SIM
pl.6cd. for filing Individual re-
turns ot income ilr the calendar
year 1921 of $500 and less will
be available "Wednesday. January
Is At the Office OF Collector OF In
tcrnal Revenue. Louisville. AMI
the following branch offices .cN-
ington. Coviugtcn, Ashland. Pa
ducah ana OwensDoro. \ copy
will De mailed to taxpayers who
last year filed a return, but failure
To- To- rccc,ye The form does not
Iicyca taxpayer Of his obligation
To lie a return ON time on or be-
fore M1rch 18th lq2. The form
has been reduced from six Ia
four pages. two of which are de
voted so instructions which
should he carefully read by the
taxpayer before filling in the
blanks. y study OF these in
will greatly lessen difficulties
heretofore encountered in cor
rcctly making ont the returns.
On page !. under the head %
Income are spaces for reporting
the following items. salaries
wages. commissions. etc; income
from partnerships. hduciarieS.
etc; rents and royalties: profit
Tor lossl from business or profcS-
sion: pr,it Cor loss from sale
OF real estate: profit tor loSs)
.irum sale OF stocks. bonds. etc.
aui other income. Beneath are
spaccs Tor entering deductions.
-uch - interest and taxes paid
during the year; losses by FIRE.
storm. sh;pwrcck. or other cas-
ualty or by theft. contributions,
bad debts. etc.
On page , are spaces Tor enter
ing explanations OF the various
items: /. e.. the total amount OF
income from bus.ne or PROBES
sion. with description gro
ccry". retail clothing. drug
store. laundry. doctor. law
yer. farmer from rents. aal
ROYALTIES. sale OF property. etc.
Returns arc requircd-of every
single person and every married
ucrson not living with husband
or We. whose net income Tor
1921 W., $1,000 or more. and OF
every married person living with
husband or wife whose net IN
come was 5000 or more II the
combined net income Of husband.
vile and dependent MINOR child
cor II the combined gross Income
rem cqullicd or cNceeucd -. ~
uf husband. ~ ic and dcpcar nj
minor children cquallel or g
rc-dod 5000 all such income
MUST be reported on a joint
turn dr III separate returns OF
husband and vile. Ii single and
Tine net income including that OF
idc dependent minors. If any.
cquallcd or exceeded 5000. a
rcturli must be filed. y minor.
however having a net income
II $1,000 or $1,000 according to
marital status. or 4 gross income
of $1,000 must file a return. The
requirement To Tile return Of
gross income regardless OF the
amount OF net income. upon
which The tax Is assessed. Is 4
new provision.
Net income" is gross income
les, certain deductions which arc
explained on the form.
Under each OF the above con-
Editions a 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 A.:
$3.50 for married persons living
with husband or wife whose net
income 'or 1921 was 5000 or
less and $1,000 for such persons
whose net income was more than
S5CCO. The exemption fors de-
pendent - person under Ia years
oi age ar mentally or physically
defective" has been increased
from SO Oto S4O0.
y head of family-a single
person who actually supports in
one household one or more per-
sons closely related to his Tor
herr BY blood. marriage or adop-
ton. IS granted the same exemp-
tionS allowed Il married person.
! but a return must be filed if the
income is $1,000 or over. even
though no tax is due.
The normal tax rates are un-
changed. ! per cent on the first
S1(NO al NET income above the