OCR Text |
Show IXCOMTE TAX IX NUTSHELL WHO? Single persons who had net -Income of $1 000 or more, or gross income of $5,000 or more. Married couples who had net income of $2,000 or more, or gross incom: of $5,000 or more. WHEN? March 15, 1922, is fi.i.il date for filing returns and making first payments. WHERE? Collector of internal revenue re-venue for the district in which tho person lives, or has his principal place of business. HOW? Full directions on Form 1040A and Form 1040; also the law and regulations. WHAT? Four per cent normal tax on taxable Income up to $4,000 in excess of exemption. Eight per cent normal tax on balance of taxable income. in-come. Surtax from 1 per cent to 65 per cent on net incomes over $5,000 for the year 1921. |