Smyrna times., 1924-01-02
REVENUE TAX FORMS FOR 1928
INCOMES ARE MUCH SIMPLER
THREE QUESTIONS REQUIRED
TO BE ANSWERED IN FORMS
Seven Million Taxpayers Must Pre-
pare to File Returns Before March
15-Delaware Collectors Start

pare to File Returns Before March
15-Delaware Collectors Start
With the holidays over and the
opening of the new year, Uncle Sam
has started his annual drive remind
ind 100000 taxpayers it is time to
figure 1923 incomes. The period for
filing income tax returns is from Jan
uary to March Is. January 2, the
first being a holiday, forms for filing
individual, corporation, partnership
and other returns, required by the rev.
enue act, will be available at the Of
fees of collectors of internal revenue
throughout the country. At the same
time, the internal revenue bureau will
start mailing forms to the approx
mately 100000 taxpayers who filed
returns this year for 1922 income.
This year the individual taxpayer will
not need a chart and compass and
lawyer and encyclopedia to make out
his return.
Form 104TA, heretofore used for
filing returns of individual net income
of $4,000 and less, from whatever
source derived, has been revised and
simplified for the benefit of salaried
persons and wage earners, the largest
class of taxpayers.
The new form consists of a single
sheet, with space provided for an
swers to only three questions in re-
| lation to income. There are salaries,
wages, commissions, etc, interest on
bank deposits, notes, mortgages and
corporation bonds, and "other in
come" All instructions are on the
reverse side.
Heretofore form 1O4TA has con
sisted of six pages, with innumerable
| questions pertaining not only to sal
aries and wages, but to income de
rived from business, professions, sales
of real estate and other sources.
Seventy per cent or close to 5,
100000 Of those who annually are re
quired to file income tax returns vii
use the new form, revenue officials es
innate. 1t being impossible this yea
to determine the form required by tn
taxpayer, the bureau will mail to eacl
person on last years list a copy o
form 104TA and also of form 104I
required in cases where the net in
come was in excess of $4,000, whethe
derived from salary or wages, busi
ness of profession or other taXabl
sources.
Tho ;,+a,pol ,o1-o,,,a ;pc+rtlctio ~,
on individual income returns are sun
married. as follows: Single person
who had net income of $1,000 or NOR
or gross income of $4,000 or more, an
married couples who had net incom
of $4,000 or more, or gross income {
$4,000 or more, must file returns.
The filing period is from Januar
, 1 to March Is, 1924.
The place of filing is with the co
lector of internal revenue or any sui
! office in the district in which the ta2
payer has his residence or princip
! place of business.
o The tax is 4 per cent normal on Il
n first $4,000 or net income in excess
the personal exemption and credi
a for dependents; per cent normal t;
Q on balance of net income, and l to
n per cent surtaX on net incomes
V more than $6000
> Exemptions for married couples
i $2500 if their net income was $50
or less, and $4,000 of the net incor
e, was in excess of $4,000. These e
E. emptions are allowed to mari
d couples only if they live togeth,
Il A single person, head of a family, !
-e ceives the same exemptions as ms
% ried persons. In addition, each ia
+ payer is allowed an exemption of 81
for each child or other dependents u
:" der 18 years of age or physically
mentally incapable of self-support
Ot The taxpayers status is determin
at as of December 81. A married m
y, who loses his wife within the year
10 allowed an exemption of only SIC
ID as a single man. If he weds at a
time in the year, even December
he can claim exemption for the whit
y year as a married man.