Popular place for tourists
Rates $1.00 per day up
Cordova, Alaska
THE
MANHATTAN HOTEL
\ .
Under new management
Warm and comfortable rooms—also baths
Geo. Smith
prop.
THE
McCarthy weekly news
Entered as second Glass matter. Septem
ber 17th, 1918. at the lost Office, a
McCarthy. Alaska, under the Act o
March 3. 1879.
C. O. Marwood
K. Marwood
Editor
Circulation Manager
Subscription Rates
Single Copies
Three Months
Six Months
One Year
.15
1.00
1.90
3.50
Payable In Advance
Saturday, March 20,1926
The News is in receipt of
complete instructions from Tac
oma for the making and filing of
income tax reports for 1925. They
contain many changes over the
previous year but are too lengthy
to print in full and only a small
part of them appears below The
full instructions may be seen at
the News office.
YOUK INCOME TAX
Single persons who had net
income of $1,500 or more or gross
income of $5,000 or more, and
married coupies who had net in
come o> $1,500 or u ore or gross
income of $5,000 or more must
file returns.
The filing period ends March
15,1926.
Instructions are on Form
1040A and 1040; also the law and
regulations.
One and one half per cent
normal tax on the first $4,000 in
excess of the personal exempt
ions and credits. Three per cent
normal tax on the next $4,000.
Five per cent normal tax on the
balance of net indome. Surtax on
income in excess of $10,000.
Your income tax for 1925 is
less, in proportion to your income
than for 1024. A rate reduction,
however, is not the only benefit
afforded by the revenue act of
1920. Increase in the exemptions
and other changes in revenue
legislation are of immediate int
erest to every taxpayer.
The revenue act of 1920 req
uires that returns be filed by
every single person whose net
income for 1025 was $1,500 or
more, or whose gross income
was $5,000 or more, and by every
married couple whose aggeegate
net income was $o,u(JO or more,
or whose aggregate gross income
was $5,000 or more. Last year
returns were required of married
couples whose aggregate net in
come was $2,500 or more, and of
single persons whose net income
was $l,0uu or more. The return
accompanied at least one-four
th of the amount of tax due,
must he Lieu with the collector
of internal revenue for the dist-!
net m which the taxpayer has
his legal iesidence or has ins
principal place of business.
in audition to personal exem
ptmus $4UU credit is allowed for
each person depending upon and
receiving his chief support from
cue taxpayer, if such person is
*
u .uer the age of 18 or incapable
oi self support because mentally
oi pu,>sjcany ueieouve.
•nil net income is considered
‘ earned net income”. On this
amount the taxpayer is entitled
to a credit of 25 per cent of the
amount of the tax. Exemption as
head of a family can be claimed
by only one member of household
CONVENIENT BANKING
No time lost, no trip to town or to the bank, no waiting in line.
Let Uncle Sam do the work in the easy modern way. This bank is as
close as the nearest mail box.
CHECKING ACCOUNT OR SAVINGS ACCOUNT, YOU CAN DEPOSIT OR
WITHDRAW MONEY THROUGH THE MAIL. WE WILL BE CLAD TO MAIL YOU
OUR FOLDER “BANKING BY MAIL" UPON REQUEST.
THE FIRST BANK 2F CORDOVA
PIONEER INSTITUTION OP THE COPPER RIVER VALLEY
LEM’S CAFE
Next to McCarthy Club
Lunch Counter & Private Boxes
QUALITY EATS
Lem Hey
Proprietor
a McCarthy a
a drugstore a
A New Shipment of
The Latest Brunswick Records
WALTZES & FOX TROTS
Ben Jackson
NOTARY PUBLIC
Proprietor
THE PALACE
Cigarettes
Cigars
Soft Drinks!
Gard Tables
Wtn. Johnson
Proprietor
THE VILLAGE SMITHY
Harry Mudge
Prop’r
Louie’s Cafe
LOUIS BREGONZA
GOOD
EATS
Open Day & Night