The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-01-23
SINGLE PERSONS
MARRIED PERSONS

Income Last Year This Year
$26OO ........ Nothing $500
5000 ..... Nothing 1900
$500 ........ Nothing 1000
The above examples are for mar
ried and single persons without de-
pendents or children, and receiving
no dividends or partially exempt in
terest. Such credits will be dis
cussed later.
To every person who paid fed
eral income tax last year, United
States collectors Of internal revenue
throughout the country are mailing
an income tax return blank this
year
Must Get Own Blanks
But it will be up to the army of
new taxpayers to get their own
blanks. They may be had on appli-
cation to any collectors office.
These offices are now open to re-
Ceive returns, all of which must be
filed by midnight, March 15 The
responsibility for filing rests entirely
with the individual, and willful fail
ure to do so is punishable by added
penalty, fine or Imprisonment
In short, return must be filed by
every married person or head of a
family whose net income in the
calendar year of 1882 was $500 or
more, and by every single person
whose net income was $1,000 or
more, even if their exemptions and
credits for dependents are sufficient
to offset the necessity of paying a
tax.
Moreover, every person - married
or single-whose gross income was
$4,000 or more must file return.
Total All Income
Net income is a figure arrived
at by totaling income from all
sources, then subtracting from that
figure certain deductions specifically
outlined, covering interest paid
losses by fire and storm, bad debts,
and contributions to charity.
Net income is an arbitrary figure
which can be determined only &C
cording to the tax blanks.
The bulk of income, especially in
the smaller groups, represents sal
aries and wages. In this connection,
you might as we'll keep in mind that
Uncle Sam requires employers to
report to him a complete list of all
incomes paid to employees that equal
or exceed the legal exemption.
This is the governments method
of double-checking to see that no
body escapes tax payment.
There are two kinds of forms on
which personal income tax returns
are rade, and it is important that
you use the proper one.
Two Forms Used
Form 1040-A, a single sheet blank
is for reporting net incomes of not
more than $4,000. Form 1040, a
larger folded blank, is for net in
comes of more than $4,000. The
latter form must also be used by
business and professional men and
farmers, regardless of the amount OF
income.
A farmer who keeps no books OF
keeps his books on a cash basis also
is required to fill out another form
1040-F. and attach it to his return
There still is another form for corr
poration returns.
While ali returns must be filed by
midnight, March IS, and at least
one four of the tax paid at that
time. the rest of the tax, if desired
can be paid in three equal install
ments on June Is, Sept. 10 and Dec
Is.
This permits individuals to bud
get their tax payments.
Early Returns Urged
early filing is of great impor-
lance this year because Of the great
ly increased number of taxpayers,
saws David Burnet, United States
commissioner of internal revenue.
Our offices are open for the re-
ceipt of returns now.
care in preparation of returns
also is essential; thousands of tax
navers make obvious mistakes in
their returns each year, many OF
these mistakes being in the govern
ments favor.
Last year one man actually over
Maid $4,000 because of his own
carelessness. He got it back"
These increased income taxes are
contained in the revenue act OF
1882, passed by congress last June