The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1894-01-19
.NLW INCONE TAX Bill.
Now Included as a Part Of the In
ternal Revenue Measure,
PROVISIONS TOR ENFORCING IT.

Should II Become Law All vlolators VIII
be Punished as Would Thieves Of
Lower Dcgree-Big Bids for the New
Issue Of Bonds.
WASHINGTON, Jan. 19.-The full text Of
The internal revenue bill, including the
income tax bill, has been agreed upon by
the Democrats of the ways and means
committee. Asyet details Of the income
tax, as finally agreed upon, have not been
made public The Associated Press is
able, however, to give a complete sum
mary of the essential features of the tax
ms it wiz be submitted to the house
The bill provides that the income tax is
to 20 into effect Jan. l. 1895, and that the
FIRST collection ON incomes is to be made
on J uly i, 1895 All classes Of incomes are
included in the measure and the uniform
rate of . per cent. tax on incomes over
81. 900 is fixed
The most important detail of the bill is
the method provided for the levy and col
lection of taxes. 1t is made obligatory on
all persons receiving individual incomes
of over $500 to make return to the local
collector of internal revenue These re
tuIns are gone over by the revenue collec-
tor, and a taxable list is made up of those
whose incomes exceed $1,000. No tax is
levied on those making a return of above
E3 500 and under $4,000 but the committee
deemed it gNpedient TO leave this margin
of $500 below the exemption point in order
that the returns might be sure to show
all who are subject to the tax.
In case a person having an income of
over 81, 500 fails to make a return it be.
comes the duty of the revenue assessor to
make inquiry ass to the amount of the per
sons income If this examination dis
closes that the income is above S4, 900 the
income is subjected to twice the ordinary
tax under the law, and the party failing
to make his return is deemed guilty of
criminal Offense and is made subject to
fine and Imprisonment.
Provision is also made by which no in
formation can be made public as to the
details of the income reported by citizens.
Any public or private person who di-
vulges any part of this information con-
cerlling incomes is made subject to crimi-
nal prosecution, with heavy fine and
penalty.
Particular provision is made for the
collection of the income tax due on sal
aries, not only official salaries, but the
salaries of individuals received from
uuSlutSS lihlN, corporations, elC. J. ne III
dividual receiving the salary does not pay
the tax, but il is made the duty of every
government, state, county and municipal
disbursing officer to retain per cent. of
all salaries over the taxable amount.
This per cent. is to be taken out of the
salaries in bulk at the last payment of
salary for the year and not at the end of
| each week or month.
The tax upon corporation includes every
| phase of corporate stock. This tax is gen
| eral, and is without the $1,000 exemption
| allowed to individual incomes 1t is pro
yided that in collecting the tax on corpor-
ate stock the corporation shall pay the
| tax and deduct the amount from the
dividends of the stockholders Severe pen
alties are provided for failure to make the
proper reduction from the dividends OF
| the stockholders or for a failure TO make
the return to the revenue collector
The entire business of the levying and
collecting of The taA is placed in charge
of deputy commissioner of internal reve
nue..