Evening journal., 1918-01-01
SIIRT GAIHERl c
OF Excess P[.OITl
Government Exr erts TO Co .
lecl $l,2OI,OOO,CCO in
This " a, Before JulyI
WILL HIT NATIONS
co TORATIONS HARI

The great task OF gathering income
tax and excess profits returns began
today with the new year.
Every unmarried person earnlna
more than 5000 during the last yeai
ana e. ely married person or head of a
family who made mo. than s2.OI. nisI
NE win the internal rev enue cole. loi
Of his district a repo. { any time ne.
tween today and March l. lie VIII
be nOtined be. ore June 4 OF the tay
Is. 1
Ihe Government expects to receive
ei,2Oi, 100000 from income taxes before
July !, including sGG6 100000 from indl-
Nlddals and SJ35,000,00 from corpora
lions. This is more than one-third O.
the S3,4OOOOO,O00 estimated receipt, un-
der the war re, enue act passed By
Congress at the last session.
From excess p.onts taxes, the Coy.
ernment expects TO realize about 81 .22O..
100000 before July 1.
The rate Of Tax for a married man q
the head Of a family Is two per cent
en- the amount OF his net income ca
ceedlns $1,000, but less than $1,000, an
four per cent. on the amount Of his NJ
income above 5000 but le than SJOJO
An unmarried person not the head of
family viii pay two per cent on tn,
amount OF net income above $1,000 bu
less than 5000, and four per cent o.
the net income above $4,000 but less thai
5000
An extra levy, or surtax, in additlo.
TO the normal tax, is imposed on IN
comes above 500, so that the amour.
Of income between $1,000 and $500 A.
subject to a total income tax, includin
both normal and extra, OF five per cent
and between $500 and $4,000 six Dc
cent.
Typical income tax ] T 'es on heads
am lies are as fOlhts: Income o
$500, tax is SO; income Of $1,000, tax
30; income Of $500, tax Is 800; incom
Of $1,000, tax is $40; income OF $500, taa
is SEQ; income Of $500, tax is $50.
Unmarried persons would pay in thi
way. Income Of $500. tax is $40: in
come Of $1,000, tax is $50; income o.
S25Oc, tax is $50; income Of $1,000 tax is
$40; Income Of $500, tax is $50; incom
Of $1,000, tax Is $50; income Of $500 taA
is 500; income OF 5000. tax is si20
Taxes may be paid IN four install
ments between now and June IS
About 100000 per Ons will pay IN
come taxes, II is estimated, and most
will be subject TO a direct Fedora taN
'or the first time. for less than 100000
paid income taxes last year under the
old law. Tax return forms have been
made as simple as possible, those for
incomes Of les than $4,000 being espe-
ciallv f"ec from technical features Or
ihqusitorial items.
Corpo atlons will pay income taxes
also. but on a different basis Thar net
income Is subject to a tax Of six per
cent. under the new war revenue act.
and certain technical deductions are al
lowed Corporation returns are due be-
tween January ! and March 1, for The
calendar year 1917, and companies OF.
Grating on a fiscal year basis NUT re-
nort within sixty days after the end
The nscal year
Beginning today, also. excess profit
returns for the year 1917 will be re-
ceiyed from corpo rations. partnerships
ord individuals The last date for the
nling OF these Is March l.
IndiN lduals making more than 10000
during the year al are subject TO an
eight per cent tax on their income
above that amount, INDEPENDENT og the
-e~ilar income taxes This eight per
cent levy Is imposed on individuals
with no capital, or with only nominal
capital, such as professional men with
money invested In books, dentist and
physicians instruments, or other
equipment.