Richmond Palladium (Daily), Volume 46, Number 329, 5 December 1921 — Page 3

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, RICHMOND, IND., MONDAY, DEC. 5, 1921.

PAGE THREE

WHAT ARE CHANGES IN NEW INCOME ACT? INTERNAL REVENUE BUREAU EXPLAINS MEASURE

To hn rilfnt will (hmrniiKf pnjrr l-i.cf lied by rhanE" In rr-i-Dur Ir&iKlHIInn f What nr. hl reinpttona nnil di-dur1on under the rrvrnni' urt ot H2I compared lih the reetiue art or 1Sf llundredo of tu-h Hii-Mlon are renolilnn the luirmu of Internal revenue. The porpone of thin article la In rninwrr lhoe moxt frequently prexf nlnl.

band or wife whose net income was $2,000 or over. Every person whose gross income for the year was $5,000 or over must make a return regardless of the amount of net income. This requirement was not contained in the revenue act of 1018. Every married

roupi living trs;ether must make a re-j turn, either separate or joint as de-'

fired, it their aggregate net income

Probably the most important change

Affecting the man of moderate income ; other being just within the higher j Is in the exemptions. Under the 1921 j $2,500 exemption the act provides that !

f,a mnrrled man with a net income me reaucnon or tne personal exemp

of $5,000 and lss is entitled to

per cent on income received from

sources within the United States. Non-j resident aliens are allowed only ai

' ' j was $2.0t0 or over, or if their aggreTo overcome the disparity in thp ! KatP g,oss income was $5, OO'i or more. amount of normal tax in the case of , Gross income includes practically two taxpayers, one of whom is just . j every dollar the taxpayer received durwithin the lower $2,000 exemption, the i !CK tht' wlS21 Net income is gross

tions specifically provided for by the act.

HEAD OF JAPANESE OPPOSITION PARTY WATCHING PARLEY

f xemntion of 12.500. Vr.der the rev-

fnue. act of 1918 this exemption was limited to $2,Ono. The revenue act of 1921 also provides for each person dependent upon the taxpayer if such person is under eighteen years of age or incapable of self suppoit because mentally or physically defective an exemption of $400. The exemption under the revenue act of 191 was $200 for each such dependent. Thus, a mar

ried man with two dependents whoso j

Period for Filing Returns The period for filing returns is from January 1 to Match ;5, 1922, when made on the calendar year basis. If the taxpayer makes his rtuin on the fiscal year basis, the return must, be

tion from $2,500 to $2,000 shall nol operate to increase the tax, which would be payable if the exemption were $2,500, by more than the net income in excess of $5,000. For exam

ple, a married man or head ot a tam-j mvd on before the Pdeenih day of

ily has a net income tor i:'L ot ;. 1. ( tho ,,lir(i mmth following the close of Assuming that he has no dependents,! )hR (isf.al vear Non-resident aliens his tax, if he were allowed only tnej mU;;( nl.,k(,'rPtmn on or before the fif$2,000 exemption, would be. $120,10. (iav of fhe sixt;i mQnth foow. L nder the benefits of the above pro- j , f (.i0se of ,h(3 tiscitl vear, or. if vision however, his tax is $110. lourj ,lp ,.e(urn is n!ade on , aIVnuar year percent on the amount of Ms axable on (),. bef Jun ir,

imemit ui .,.iu'i, or j n'w, piu.s in.-;

net income for IP 21 was s,tH". imi . ... ..,. . . . inn commissioner oi internal re

nav this vear a tax of $8. compared " ""u'm "1 n.te may grant a reasonable extension

wi'h $104 on the same income for 1920. 1921 Exemptions The exemption of $2,500 applies also

to the head ot a faimlv wnose nei income for 1921 was $5,inn or less, an increase of $500 compared with the 1918 act. A head of a family, as defined bv present treasury regulations.

is "a person who actually supports and j to g

, rjViir. f j.vci'. - . c :n

Surtax Rates ' lme mi mint; inuu-. i.M'-pi m Taxpayers in the proration of ! the case of taxpayers are abroad their return should he careful to note! "tension be for a period that the surtax rates for the calendar!"1 mo!"e 'j1"" x months. Ihe return

must oe nieu wun ine iniiecior oi m-

101 rnmiin 11 n r-li a n o c, . 1 T'l-it. till

r,,.. Kioi ,.,! in UBi irifuur 10 1 nif 1 11.1 111 iu 11

the amount of

tax rates on incomes from one percent on

net income between $5.0oo and $6,000

the amount of not; of $1 .iMMi.ooii. Fori

year 1922 and each cal-.

triereatter, tne surtax

'he taxpayer lives or has his principal place of business. If the taxpayer has no legal residence, the return must be filed with the collector of. internal revnue at llaltirnore. May Pay in Installments This year as last, th-j tax may he

THESE SOLDIERS USE ENGRAVED CALLING CARDS . .COBLENZ. Dec. 5 Engraved calling cards are a fad among soldiers of the American forces in Germany. Nearly every soldier has engraved cards with his nuTne and outfit and some even have other cards with their

home address in the United Statea,

j particularly those who are planning j to return to America within the next

few months. A hundred cards and plate, at the present rate of exchange, of the dollar for the mark, costs the soldier about 50 or 60 cents in Coblenz stationery shops.

INTERNATIONAL COURT MEETS. THE HAGUE, Dec. 5. The first session of the permanent court of international justice is to be held here in January. The peace palace, which up to the

present has served chiefly as an attraction to sightseers, will become the seat of the court. If the offers of the Carnegie institution are accepted, the court will have the entire right wing of the building at its disposal.

Kotaro Mochizuki. Kotaro Mochizuki, head of the Opposition party in JaDan, is one of the interesting foreign notables at the armament conference in Washington. He has his own headquarters and a staff of secretaries and clerks. Mochizuki came to the United States several years ago as a member of a Japanese mission.

An Arab will not walk on the streets with his wife.

SHALEIi LENS They comply with the new lation.

regu-

W EBB-COLE MAN CO. Opp. Pcstoffice Phones 1616-1694

RICHMOND-MADE UNION SUITS FOR MEN The finest Underwear made, in wool, fibre and silk mixtures. Priced very special at, S3.00 to S4.50

Afosr Even vrtrr" c Mem trnd.

8C3 Main St.

refusal" to make return or pay the tax on time the penalty i-5 a fine of not more than $10,000, or one year's im-

percent on

maintains in one household one or1jnconP ;n PvCrs

more individuals wno are cioseij con-, the calendar Tiected with him bv blood relationship. I onriu i- vvn-

t nlatinnwliin hv rnnrrine. itr hv sdot)-! vonn. r, .,.-. .v..-, ,..-.,.,...rf ti,.,!

lion, or whose right to exercise family j amount of net income between $.ooo' vaid in full at the time of tiling the j pnsonment, or both, together with the inntrol and provide for these depend- j aruj jin.ooo to 50 percent by which the! return, or in four quaiftrly install-! cost of prosecution.

rets is based upon some moral or legal amount of net income exceeds $20i),- ments. due on or foeiore .March lo. obligation." (uio .lime 15, September 15 and December

The normal rate of tax. 4 per cenl j Returns Required. 15. If any installment, is nor pa id : on the first $4,000 of net, income above! Returns are required of every sin-i when due. the whole amount becomes ihc extmptions, and 8 per cent on thelKi0 pPrson whose net income for 1921 j due and payable upon notice and deremaining net income, remains un-jwas $1,000 or over, every married iter- i mand from the collector. The penalty,' (hanged. This applies :n citizens and j son not living with husband or wilej lor failure lo file a rciurn or pay the! residents of the United States. Alien whose net income was $1,000. and ev-' tax within the time prescribed is a fine!

non-residents are taxed to the full fiery married person Ihing with bus-1 of no! more than $1,000. For "willful j nunmiiiiimiitiimnHiiiini iiih-umiiiihiiiiihiiihiiihiihiiiii nimunn

i ! H. C. HASEMEIER CO. i

' MtltllllllllinfltlinilMMMlltMMIMIIItlllltltllllllHIttltlHHtltHHMMMIIIHIIIHIllIIHMI if Tapestry Furniture at Sale f 1 Prices I

BEG. U. S. PAT. OFF.

WW L - l"if " XtS , : w hu- "If - -iij s2sl H't . wj k.a 't-ISF si 4 kft, fJ' Jfc.-.Mv7;.' i p 1

Vlctrola No. 130, $350 Victrola No. 130, electric, $4 1 5 Mahugany or Oak

Get avictrola for C

ana d sure oi sax

H1S MASTERS VOICE

REG-U3.PKT.OfT This trademark and the trademarked vord"Victrola'iJentify all ourproducts. Look under the lid ! Look on the label! VICTOR TALKING MACHINE CO. Camden, N. J.

hristmas

isiaction

Victor quality and the Victrola features are things you cannot get in any other instrument except the Victrola, They are the result of years of effort and experience, and have won for the Victrola unquestioned leadership. The Victrola is the one instrument to choose for Christmas It is not alone the instrument of the greatest artists, but the only instrument specially made to play their Victor Records and it is. built to last a lifetime. Victrolas $25 to $1500. If it is a Victrola you'll see the word "Victrola" on it. And it can be a Victrola only when made by the Victor Talking Machine Company. Look under the lid for the famous Victor trademarks.

Victor Talking Machine Co., Camden, N,

"Richmond's Greatest Silk Store'

Christmas

Silfc

Sale

at the Store that has the Silks

Buy Silks the most

practical Zift

-MR. -- 'lrJ -'v r U : c

U X

Most unusual in every way. Quality of Silks that would be priced from a fourth to a third more if bought and sold in the regular course of business, and the qualities offered are in a comprehensive color range such as are seldom found in regular stocks of any retail establishment. Fine Silks at the Lowest Prices in Years

All these Silks in the Sale at one low price. In the perfect balance of coIt assortments, in the variety and popularity of weaves, this is a notable event.

36-in. Chiffon Taffeta 3&-in. Satin Messahnes 36-in. Knitted Tricolette 40-m. Heavy Crepe de Chine 40-in. Fine Georgette Crepes 36-in. Changeable Satins 36-in. Knitted Underwear Silk 36-in. Novelty Silks

Sale Price

$1.98

yard

Natural Pongee Silk Indeed, the fastest selling silk yve have ever had for the reason it can be used for so many purposes. Yes. we know it is scarce, but not here. Hundreds of yards. In three qualities

$1.00 ran

SI. 19 yard SI. 39 yard

CANTON CREPES Rich and clinging for frocks, there is no doubt about the popularity of this splendid Silk in ihe favored browns, blues and Q fTA black, a yard vO.UU

SATIN CANTONS

With a shimmering face, splendidly adapted for the straight line frocks. Pure Silk Canton.

40 inches wide; black, brown, navy.

a yard

S4.75

CHARMEUSE SATIN

40 inches wide, dressiest of the new

beautiful bright finish in all of the season's newest shades, a yard ....

$3.00

Black Silks arc Reduced 40-inch Black Satin Channeuse. fTQ a yard dJL.li r.5-inch Black Satin Mescaline, J- qq a yard M.O7 40-inch Black Crepe Satin, Q( fjk a yard f!)U I J "6-inch Black Satin Duihesse. 79 r.ti-inch Biack Chiffon Taffeta. J-10-inch Black Canton Crepe. &ey QQ a yard dUO 4'i-inch Black Satin Canton. JQ rTQ a yard 50 I U 4'i-inch Black Satin Charmeuse, (gQ IQ a yard tjL&U

New Christmas Shirtings Yards and yards of beautiful Silk Shirtings. We have sold hundreds of yards of shirtings and yet we feel these are just a little prettier than any we have offered. All of the new multi-colored stripes and combinations. Three groups

SI. 39

SI. 69-

These are Silks Fashions are demanding

The finest production of famous American looms, priced at exceedingly moderate prices. The very best colors are represented in their entirety in the above lines of famous silks. Shop for Xraas now. Buy Silks.

36-in. Krepe Knit, a yard $3.75 36-in. Light Changeable Taffeta, a yard $2.69 40-in. Peblette Satin, a yard $3.50 40-in. Crepe De Chine, a yard $3.00 40-in. Crepe Meteor a yard $3.50 40-in. Satin Crepe, a yard $3.50 40-in. Baronette Satin, a yard $3.50 40-in. French Taffeta, a yard $3.00 36-in. Chiffon Taffeta, a yard $2.69

THE STORE WITH ONLY ONE PRICE