Show INCOME TAX NOTES NO 1 I Your Tour Income tax for tor the year 1926 1525 Is less len In proportion to your lour Income than was the tax for tor 1924 1524 A late i ate reduction however Is not the only benefit afforded by tho ther revenue venue act of 1926 Increase In Inthe Inthe Inthe the exemptions exemption and other changes In revenue legislation are ar of Im- Im Immediate Im Immediate mediate Interest to every tax tax- tax tax The revenue act of o 1926 1526 s that returns return be tiled filed d by every single Ingle person whose net Income for tor 1926 1925 1 was 1500 or more or whose gross cross Income was wa or more and by every married couple whose net Income was or more or whose aggregate afire cate gate gross cross Income was or more Last Lat year ear returns were ye- ye re Ie required of ot married couples s whose aggregate net Income nc m was 2500 or more persons person whose net Income was 1000 or more Husband wife livIng to- to together to to gether may Include the th Income of each In a single joint return or each m may y tile file II a separate return showing the Income of each Net Jet Income Is gross cross Income less lees certain I tam tain specified deductions for busi bul- bud business ness neu expenses losses loses b bad d debts cOIl etc The Th period for filing returns ends March 15 If The return cc- cc accompanied ac accompanied companied by at least one fourth one of the th amount of ot tax due must be Wed filed lied with the collector of ot In- In Internal In Internal ternat revenue for tor or the district In which the th taxpayer has his legal residence or principal place of business 00 |