The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1913-11-01
GCVI'S NEW
Ccoa.iuusd frops Firs. Pnx.J

tcoatiuusd frors Firss PaEsJ
Thousands OF letters and kilograms
bringing up for settlement points in
the new law. have poured into the de
partment. They have come from
every conceivable source and. added
10 the labor OF making regulations.
have maze the task Of the experts
one not 10 be envied.
Regulations Not Perfect.
No one In tne treasury department
believes that the regulations so far
formulated are absolutely perfect. but
they viii sand until some one proves
that they should be changed and OF
hcials are not inclined to believe that
expert lawyers employed by big cor
porations particularly concerned with
collections at the sour5e" Of income
on bonds. mortgages. salaries. etc.
nav" failed "a understand them.
Since the adninistrat on began
framing an income tax law the talk
has gone the rounds in Washington
that II would lead 20 many fights in
the courts. and as the tariff bill pro-
crossed through the senate many a
senator quietly expressed the View
that every line OF the income tax
provision was subject for a law
suit. With tho lawsuits the treasury
department has little concern. II is
not looking for them. ITS business IS
20 20 out and get the money. and
that IS what II is trying TO do. or.
hcials believe that the regulations
they have put out are framed not
with an idea Of causing trouble TO
those who must pay. nut I'm the only
way they could he framed 20 safe.
guard the governments interests.
Offices, Banks, Corporations. Etc.
The man In the street who knows
ne makes more than 81 600 a year.
and who is personally responsible for
MS share OF the tax. does not need
70 begin worrying about his payment
Tor the present. The operation OF
tn" law tomorrow affects only banks.
corporations 51d others responsible
Tor payment on bonds. mortFarsa
salaries etc. For such part as thev
are bound by the law they rnusf
Withhold at the source " Tho
amounts 80 withheld are not PAYABLE
immediately tO the r~ea eury. and inc
money from the tax viii not begin
flowing into the treasury vaults for
many months The tax FOR 1912 fs
70 be collected from March J. shortly
AFTER the constitutional amor ,nent
was ratified. until December n
Withholding agents. however. must
begin deductinE Tho normal tax OF
on" per cent no the source tomorrow
Withholding b. for November ana De.
combor. with certain executions The
individual reporting unon his own In
come ~ more than g. 600 vc,r
makes hi sreturn 20 tho collector OF
internal revenue In his district next
March
Further Regulations.
Tho treasury department tonight
issued further regulations a~.rffrc
collections zoo the source ~ Income
It's synopsis follows.
Norm1l aN OF one po- cent e. to
ho Withheld ~ fhn source where tho
income urIriratos
"Nll persons firms. organizations
'i'.. having fho receipt. custody a..
roll or u1vwrnf ~ any annual in
como profits ~ GAINS are required To-
".lhh"Ii Tho TAX. except ae exempt Dr.
Tho following income is ovonpt
rnm norm. l3N of ono per cent Do.
ing WITHHOLD Hf source
Dividend ON ,erif1l stock or from
fhr NOT earnings 90 crruprafI1rs and
lite orronyrfInre mot ray mo nor
nal faN ~ ono r'r cent ON its not in
como
Proceeds from uro 'r.rroncc con
tracts except Iruu1. .rfrroaf nav.
wrrte lr rVrl.. of q HIH
Income ~ 'ndltifurIa witch fa NOT
we'd or cr.fH'r eIrh ns Income OF
f"rrr. NOV. Nrrf. arru's epmunn.
.ff.1 on COMMIT .e'rr h-.Ie frvvr~e
doctors. 0ufhU Inventors and 9th m
prn'ne '0unI persons WITH no nvo-f
nnrrHf Income
Tho value ~ property acquired bv
riff hnrur.f or descent
Ir'rro.t Hn.r fh. obligations Of
ffr United eHfrH Or ffe urearref.ra
nr ri tfafn r- rrv urfrir.f .uh1.
vision freroof erhrv of President
.H1 Tr0nr4l ufroa AU .r'a-frs paid
hf state county or mum Quality fu
clrdinr salaries OF pub. school
teachers
Withheld Unless Er-rrf-d.
"rho normal fox NOT fo he withheld
until ouch rno 0e fhc total paw
ments o. an annual Income exceeds