OCR Text |
Show Exemption Tax; Married or Single The revenue act of 1924 provides that the status of a tax payer relative to the amount of his personal exemptions exemp-tions shall be determined by apportionment appor-tionment in accordance with the number num-ber of months the taxpayer was single married, or the head of a family. Under Un-der the proceeding' act the amount of the exemption to which the taxpayer tax-payer was entitled ; was determined by his status, as a single person, a a married person, or the head of a family on the last day of the taxable year, December 31, if the return was made on the calender year basis, as most are. For. example, a taxpayer married on September 30, 1924, would be entitled en-titled to an exemption of $1,375.' For the first nine months he is classified as a single man entitling him to an exemption of $750 three-fourths of the $1,000 exemption allowed a single person and for the last three months he is entitled to an exemption of $G25 one-fourth of the $2,500 exemption allowed a married person. If on June 30, a taxpayer ceased being the head of a family the support sup-port in one household of a relative or relatives being discontinued he is allowed an exemption of $1,750 one-half one-half of the exemption of $1,000 granted grant-ed a single person plus one-half of the exemption of $2,500 granted the head of a family. With regard to the $400 credit for a dependant, the taxpayer's status is determined as of the last day of the taxable year. If, 'during the year, his support of such dependant ceased, he is not entitled to this credit. |