| Show INCOME TAX IN INA A NUTSHELL WHO Single persons who had hadnet hadnet id net income of 1000 1000 o 0 more or i gross income of or mor more and ind and married couples who had bad net n income i of 2500 or more or gro gross i income of or more must roust file r returns WHEN The filing period b be- be begins gins ins January 1 and ends March 15 1 WHERE Collector of intern internal 1 r revenue evenue for the district of which the t he person lives or has his prin- prin principal c cipal place of business HOW HOW See Sec instructions on forms fora and 1040 WIlA WHAT T Four per cent normal tax t ax on the amount of net incon income in i in n excess of the personal p- p tion exemption t ion credit for dependents depe earned earni a i income credit dividends of domes domes- domestic domestic tic corporations subject to taxation n and interest on obligations of the United States tates and obligations of instrumentalities of the United Unit d States Surtax on surtax net i In- In InI Income income I come in excess of I I Tax Income-Tax Donta Don'ts I DONT DON'T prepare your return first studying the c- c i on the form DONT DON'T procrastinate Early as- as assembling of d data ta permits n a careful consideration of all tax ta problem problems I DONT DON'T destroy the tho memoranda a from which your return was pro pre prepared pi pared I DONT DON'T omit explanation when such Ruch information is essential to an anI I intelligent audit Attach memoranda memoranda anda to your return l How To A Avoid oid Common Errors The period for the filing of in- in i iid c tax come returns covering the cal cal- calendar calendar year 1934 b begins ins January 1 and ends at midnight of March 15 Within this period are filed annual annual- annually l ly y millions of individuals income income- t tax ax returns a large proportion of which report income subject to the tax t ax The latter contain a consider consider- considerable considerable able percentage of errors which if uncorrected by the audit would re- re r result to the disadvantage e of oC the t taxpayer Many are errors of ot corn com computation easily discovered disco on the face of the return is is accompanied by a payment of more than the amount of tax due I In other returns it is readily dis- dis discernible discernible that the tax-payer tax has hasI h I failed to take ke advantage of the per perI p I exemption credit allowed anuw for dependents or deductions fr from Irom gross income to which he Is 13 en- en entitled entitled titled To avoid these and other errors erro the Bureau of Revenue urges careful reading rending of the in- in instructions instructions on the forms for fili filing the returns Additional information if needed may be obtained at the theoffice theoffice office of or a collector of internal rev rev- revenue revenue deputy collector or an int inter inter- internal nal revenue a agent ent in charge Also Al as a n further aid in the preparation of ofa a n correct tax income-tax return for forthe forthe the tho year 1034 1934 the Bureau has pro pro- pi pared a series of short news arti- arti articles des cles of which this is the first nd- nd advising the salaried man wage earner professional prof and business man man-in man in fact every every class of in- in individual individual taxpayer taxpayer taxpayer-of of f bi his require require- c- c meats and privileges as interpret interpret- interpreted ed under the latest regulations rul rulings ings lags and decisions dc relating to the tax income law |
