The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-11-01


grams bringing up points in tho new
law have poured Into the department..
Ihey have come from every couceiv-
abie source, and. added 10 the labor Of
making regulations, have made the
TASK OF tne experts one not TO be en-
We'd
Ofiicinis Not Worried.
No one in the Treasury Department
believes the regulations 50 far forrnu-
lated arc absolutely perfect. but the,
VIII stand until some ono proves thcy
should b'7 changed, and officials arc not
Inclined TO believe that expert law
yors employed by big corporations par
tteularly concerned with collection at
the source" Of income bonds. mort
cages, salaries. etc, have failed To UNI
Gerstand them.
Since me administration began fran
ing IN income tax law the talk has
gone til: rounds III Washington that 1t
would lead To many fights in the
courts. but with law suits the Treasury
pepat tmcnt has littlo concern. IL is
not looking for them. its business is
T. 20 out and get tho money.
oiiieials believe that the regulations
they haze put out are framed not
with an idea OF causing trouble 10
lhoSe VINO must pay. but IL the only
way they could ho framed to safeguard
the governments interest
The man In the street who knows
nc makes more than $500 :. year, and
VINO Is practically responsible for his
share OF the tax. does not need to be-
Eln worrying about his payment for
INC present. The operation OF the law
tomorrow affects Only banks, corpora
ions and others responsible for p\r-
iachl on bonds, mortgages salaries
etc FOR such part as they are bound
~ the law. they must withhold at
the source" Tile amounts so withheld
are not payable Immediately 70 tbc
'l'3Suf!, and the money from the tax
VIII not begin lowing into the Treas
nrS vaults for many months. The tax
lor 1918 IS 10 be collected from March
!, SHORTY after tho constitutional
amendment was ratified, until bccem
Der 81
w Unfolding agents. however, must
nesih ncdncting the normal tax Of
per cent at The source to-morrow
withholding it for November and de-,
cenlber with certain cxceptions' The
individual reporting upon his own in
come OF more than $4,000 q year makes
revenue In his district next March
~ Further ReguIntions.
issued if rriinrE Depiarinent to-nlght
collections at the source OF income liz
synopsis follows
Normal tax or per cent is TO he
withheld at tho source where mo in
conc, originates 80 :"
:, .Ail persons persons. firms organizations,
posnl or payment of any annual In
core. profits or gains are required to
I'm. ro ,nA except as exempt by law.
from normal tax of per cent benz
withheld at source
:, ividends on capital stock or from
ne net earnings OF corporations and
iikc organizations that pay the normal
'"H , oi J per cent on It's net income,
IN excess Of $4,000.
income Of individual which is not
hN.d or certain. such as Income ar
l.!ners, merchants. agents compen-
stated on commission basis. LAWYERS.
Doctors; authors. inventors and other
n.oicssioHai persons, with no fixed an
Hu1i Income. "
Ths value Of property acquired by
fift bcquest. or descent
, interest upon the obligations OF In.
United States or it's possessioms or :,
state or any political subdivision there
-; ~, salary OF President ana Federal
Judges. All salaries paid by Il State.
salaries OF public school teachers
Inc normal tax is not to be with
held until such time as the total paw
n;cntS OF annual income exceeds $4,000
thcn the tax Is required to be withheld
on inc amounts of the total payments
unless claim for exemption is filed with
Withholding agent.
persons liable for tho personal tax
~ PCT cent may claim from with
holding agent or collector of internal
revenue. benefit Of Il deduction of taxes
interest and other items as provided
Withholding agent is not required
10 withhold the normal tax of | pcr
cent until on or after November T. and
tncn only on amounts accruing on and
after November |, 1913, when in excess
or $1,000
Persons subject to the normal tax
Of ! per cent when absent from tho
United states or physically unable to
make returns required by law. may,
under certain conditions appoint agents
TO act for them.
The penalty for false or fraudulent
return or statement with intent to do
feat or evadc the tax. is n fine OF not
exceeding $1,000, or imprisonment not
exceeding one year or both"
Charged With Stabbing.
Antonio Mailoni twenty years old.
was arrested last night on n charge OF
StahhtnR n,