The Bridgeport times and evening farmer., 1918-03-01
TAX
 EXPLAINED

Washington, D. C., March John M. Goldbonds-the name is fctional but there are quite few John Ms, in the United States-this year will pay an income tax of S1,SO9,1S0. John Ms income for 1917 was $3,0O0,- 900.
 John D. Smithkins-aIso fctional- will pay $1O. Smithkin's income for 1917 was $2,5OO. Both are mar ried.
 This fs an illustration of the opera ton of the income tax provisions of the War Revenue Act of October 5, 1917, and the act of September 8, 1916, which preceded it and which remains in force.
 The normal rate of tax under the act of 1917 is 2 per cent. on the net income of unmarried persons in ex- cess of $1yOOO and on the net income of married persons in excess of $2,00O. Under the 1916 act the normal rate is 2 per cent. on the net income of un- married persons in excess of $3,O0O and on the net income of married persons in excess of $4,000. An ex- tra levy or surtax ranging from 1 per cent. on incomes between $5,00O and S7,5OO to 50 per cont. on incomes in excess of $1,O0O,06) is imposed by the act of 1917. The act of 1916, in addition to the normal tax, imposes a surtax ranging from 1 per cent. on incomes between $20,000 and $40,OOO to 13 per cent. on incomes in excess of S2,0OO,OOO. John M. will pay F. Sc iv1 of $2,O00, 2 per cent. on his income in excess of $4,0o0, 5 per cent. on his income in excess of S1,00O,0O0 and IS per cent. on his income in excess of $2,OOO,O00. Smithkins will pay 2 per cent. on his income in excess of $2,OO0.
 The income tax, as thus shown, is no longer a rich mans tax but a. levy so graduated that every person is assessed according to his income, Last year 500, 900 persons paid an in- come tax
 This year the number will be more than 6,000,000.
 The estimated revenue to be collect ed under the War Revenue Act of 1917 is O0,o0O,000, of which SO0U,UUU,UUU taxes Every unmarried person who made $2O a week or more and every married person who made $4 Oa week or more is assessed. Returns are re- quired of unmarried persons whose net income for the calender year 1917 was $1,000 or more and of married persons whose net income was $2,OO( or more.
 The Commissioner of Internal Rev enue, with the approval of the Sec retatry of the Treasury, has extended the time for filing returns from Marcf 1 to April 1, 1918. This affords thu taxpayers ample opportunity, but tt delay until April 2 renders the defin uuent subject to a fine of not les than $9O nor more than $1,000 and al additional assessment of 50 per cen! of the amount of tax due.
 Blank forms may be obtained iron collectors of internal revenue or iron revenue officers who are visiting eV cry county in the United States to as sist officers in making out their re turns. The services of these expert are offered without cost. The loca tion of their offices may be obtaine on inquiry from collectors, banks Q postmasters- The return must b filed with the collector of interna revenue of the district in which tn taxpayer lives or has his place of bus mess.
 Payment must be made on or be fore June Is, 1918. The penalty fo failing to pay tax when due is a assessment of 5 per cent. of th amount unpaid, plus interest at th rate of per cent. a month durin - which it remains unpaid. For makin false or fraudulent return the per atty is a fine not exceeding $2,00o not exceeding one years imprisoI ment, or both in the discretion of th