Show NEXT MONDAY DAY your income tax for the year 1925 is less in proportion to your income than was the tax for 1924 A rate reduction however is not the only benefit afforded by the revenue act of 1926 increase in the exemptions and other changes in revenue legislature are of immediate interest to every taxpayer the revenue act cf 1926 requires ahat returns be filed by eveia single person whose net income for 1925 as 1600 or moe cr whose gross income was or more an I 1 by every married couple vs i gre gate nel was or more or whose aggregate gross income was or more last year returns were required of married couples whose aggregate net income was 2500 or more and of single persons whose net income was 1000 or more husband and wife living together may include the income of each in a single joint return or each may file a separate return showing the income of each net income is gross income less certain specified reductions tor business expenses losses bad debts contributions etc the period for filing returns ends march 15 1926 the return accompanied compa nied by at least one fourth of the amount of tax due must be filed with the collector internal revenue for the district in which the taxpayer has his legal residence or has his principal place of business |