The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-21
than $500 from March 1 - December
81, 1918.

, r. ,s $500 from March - December
Retupns--rPusteeS.
una.f the law his s:,.ry {: .ssmD,; II:
ss sanS Of ss,ss GD ao% " * su:s.s s' Vie
Su.:sio" !. H So they so% make .ny r.saT" 'n'
rss "a is ;hsn 'sy : nF" who" not In
Answer--tU A return should Be made
by the wife. but II 10 not necessary to
include the husbands salary. II the hos
band has any other income. however. It
should be included
t2) They arc not required 70 mako .
return In such a case unless they act "a
Withholding agents.
HusSanA and wise-supertaa.
vii. iiciqs .ess.h.r zach has u'' :sp.rsss
income. eisimins tho spssine essmp,ion q
should both make a joint rssurn Of ;heir
s?n 20 ss Income claiming Joint exemption
tsI Assuming the FRS. alternative to be
,i5SSc less e ss'Sssss' or ,Yi.ssssi, 'S and b
wouia be taxed on an income OF $4,000
ts! In the second alternative A and h
together would be taxed on Joint income
net Income Of S26. SOS 81, thus rendering
them liable TO a supertnx. IL this correctf
Answer--d They may make separate
returns.
CD You are correct
t3) The Commissioner has ruled that
the Incomes of husband and wife. which
are considered as one in determining the
normal tax, shall be taken a. separate
when calculating the supertax. II would
be well. however, TO mako separate re-
turns
withhoIding Agents.
i.,--F &. T. ~ when paying the in:
terest on a real estate mortgage Of Ss.7se
am obliged TO deduct the tax at the time
~ payment or can I make written ar
ransemcnt With the mortgages by which ne
or she VIII assume the responsibility for its
~ II an, obliged to deduct the tax what
course do I have to go through in turning
Answcr-I 40 the interest for No
vember and December, 1913. presumably
did not amount TO $4,000 you we're not re-
aurei 20 withhold any tax for 1913.
When IN 1914 the amount paid amounts
to $4,000 YOU are required to withhold the
tax unless the MORTGAGE files with you a
certificate claiming exemption When
such a certificate IL filed you then should
withhold the tax only on ali amounts paid
| In excess of the exemption.
CD You have 10 make return to the
| collector OF Internal revenue as a with
holding agent and forward TO him the cer-
| tiiicat.s OF exemption which the mort
gage files with you. On or before June !
| OF each year the Government will send
i you bill FOR the tax which you have
withheld and YOU arc required to pay II
OIL or before June 80. The collector will
furnish you with the necessary blanks for
your rcturn as Withholding agent.
| Mortgages Held In Two Names.
iS-F. Q. % A and b. man ana w,fs.
.avinr hSl So IN pom s ns'n ms, asu.hss,
sceuSly What portion Of IN. interest Is to
and TO n IN. ., Income and daughter h.v.
deposits In savings banks. The books are
made gu; TO A or y. payable to either or
survivor. Does charge fu!! iuterss. or one
half?
% A and y. father and daughter. hold
full amount Of interest or one half?
Answer--(D A should include one-haIf
or the interest in his return. II the inter
est received by the daughter amounts to
more than $4,000 per annun or $500 for
the 1919 taxable period It is also necss.
sary Tor her 20 make a return.
f2) One-ialf.
go One-half
| .ssesessOmo Ou Nenteu n0uh0u0Q0s
i+s-E. W. II. am the owner Of q
! small opera house, which made rentals Of
about $1,000 last year. During the year
spen. over $1,000 on the house In aitera.
s iiGSs As psni. allowed any deduction for
Answer-Amounts spent for repairs and
| maintenance are allow able deductions, but
| no deductions are allowed for any
amounts paid out for permanent improve
ments or bstterments made TO increase
the value OF any property. We should
think that alterations would come under
the latter, and therefore are not allow able
deductions
TAG Free Coupons.
iSc-G; N. y; Certain corporations ana
| o. their intentions TO pay income tax on
| All OF their issues of bonds Ut the source
| In making statement TO the internal reye-
nue. collector does tho party making such
| have the right to make deductions Tor the
Z interest OH bonds 80 paid"
: Ais~er-So corporation WAS required
10 withhold any tax prior TO November.
. j. 1913. and therefore as far as the GOV
eruln-nt IL concerned 10 tax vas with
/ held at the source prior to that date All
coupons paid before November |, 1919.
! should lie entered In Column y, page ..
/ Form lV40. az interest on which the tax
/ has not been deducted Where the COZ
/ poration has agreed 10 assume the tax the
coupons paid after November l. 1919.
may be entered in Column A.