Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-01-19

WASHINGTON, ID. c., January IS
The full text OF the internal revenue
bill, including the important income
tax, has been agreed upon by the Dem
ocratic members OF the Ways aud
Means Committee. II is probable the
measure will be submitted to the House
tomorrow. AS yet, details OF the in
come tax, as finally agreed upon, have
not been made public. The Associated
Press is able, however. to give very
complete summary OF the essential
features OF the tax as it will be submit
ted TO the House.
The bill provides that the income tax
is TO go into effect January LIST, 1895,
aud that the first collection OF incomes
is to be made on July 1st. 1895. All
classes OF incomes are Included in the
measure and the uniform rate OF per
cent. tax on income OF over $1,000 is
fixed.
The most important detail OF the bill
is the method provided for the levy and
collection OF taxes. 1t is made obllga-
tory on all persons receiving
individual incomes of over g., 500
TO make return TO the local
collector OF Internal revenue. These
returns are gone over by the revenue
collector and taxable list is made up
of those whose income exceed 81, 600.
No tax is levied on those making ro-
turn of above 80, 500 and under 81, 600.
but tho committee deemed il eXpedient
TO leave this margin OF $500 below the
exemption point in order that the re-
turns might be sure TO show all who are
subject To the tax.
Ia case a person having an income OF
over 80, 500 falls to make a return, IL be-
comes the duty OF the revenue assessor
TO make inquiry as TO the amount OF
the persons income. II this examina-
tion disclOses that the income is bove
81 ,O00 the income is subjected TO twice
the ordinary tax under the law, and
the party failing TO make his return is
deemed guilty OF a criminal offence
and is made subject 10 fine and i'm
prisonment.
The main purpose in framing the
above provisions has been TO avoid an
inquisitorial operation OF the law.
The committee believe that IL will do
away with the necessity Of having as
SCISSORS pry into the private business OF
people, unless the latter have a taxable
income and try TO evade the law. 1t is
estimated that not more than So. 900
persons will be subject TO this tax, so
that a great majority Of citizens will
not have 10 make returns.
Provision is also made by which no
information can be made public as TO
the details OF the income reported by
citizens. II such details became public
II might lnjure the credit OF a firm or
individual. For that reason the public
or private person who dIYulges any part
Of this Information concerning incomes
is made subject 10 criminal prosecution
with heavy fine and penalty.
Particular provision is made FOR the
collection OF the income tax due on
salaries, not only official salaries, but
the salaries Of individuals received
from business firms, corporations, etc.
The vidual receiving the salary does
not pay the tax, but II is made the duty
OF every government, State, county
and municipal officer TO retain two per
cent. Of all salaries over taxable
amounts.
This TWO per cent. is 20 be taken out
OF the salaries ia bulk At the last pay
ment for salary for the year. The tax
upon corporations includes every phase
Of corporate stock. This tax is general
anu - WITHOUT lut eisbDD tAbm DilUu al
lowed 10 individual incomes. IL Is pro-
vided that in collecting the tax on cor
pOrate stock, the corporation shall pay
the tax ard deduct the amount
from the dividends Of the stockholders.
It is made the duty Of eacn corporation
% take two per cent. Of each annual
corporate income from the amount SGT
apart FOR each stockholder and pay the
total 70 the Internal revenue collector
OF the locality. Severe penalties are
provided for failure 10 make the proper
reduction from the dividends OF stock
holders or for failure 20 make the re
turn 20 the revenue collector.
The entire business Of the leyyiog
and collecting OF the tax is placed in
charge Of deputy commissioner Of in-
teTnal revenue. The different revenue
districts OF the country are also pro-
vided with deputy collectors, who viii
especially manage the collection of the
Income tax.
The measure, a. finally agreed upon,
f. a detailed elaboration Of the plan for
an income tax proposed some months
ago by Representative Hall, Of Mis-
souri,.
Senator WaIthaIi Resigns.
WAsH1NGToN, January 1s.-Senator