The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-12-18
FOR
nome TAX
MUTATION
Iinonds Bill win
nste 5 Per Cent
atty Till March.

n David LAWRENCE.
ieeocial to The Argus.)
~ ak1neton, Dec. 18.-Relief foI
nsny large business concerns
eere unable to pay theiI
abof installment Of the in.
- IL seems to be in sight. The
~ Ways and means COMMITTEES
G Desctically agreed to report
sDtably . bill introduced by Rep.
estatise Edmonds of Pennsyl.
Sak Whereby the penalty of five
~ eost for failure to pay the
nAef installment shall be
ntAat4 and shall not be maze
4apply unless the amount is still
5Daid BY March Is next. The gov.
lneat, however, will receive in.
Ilsat On the period between Dec
i aad March Is.
Je0etary Houston vigorously op-
j1pd any extension Of time to ia,
nm when the matter was frs
jlpeped simply because 1t wa:
M that no discrimination coult
hnlle between those who wer,
J6lu unable to pay and those WHIT
tr1sllly wanted to use the money
y eAsf purposes. But with Dec
~ past and the collectors O
t1knl revenue from all parts O
y usntry reporting large sum,
- the seriousness of the stu
- b fully realized here.
h1oed, unless the government
~ action as provided in tn,
(g1odS resolution some big con
- will be forced to the wall
NJ is the treasury department
y 4 Present no discretion what
nd the five per cent penalt,
46y in effect. The law /
nlefy. It provides that j
FER the income tax shal
zen due and been unpaid
ullector Of internal revenu
4 ssnd out q warrant OF dis
4 Within 80 days. thereafter
gkR1 would be compelled un
Il law to force the sale O
~ tssets Of a concern in orde
the income taxes due th
oaent. It Is one Of the mos
" hws on the statute books
1cn We're Sincere.
Dlf1ess men have known wha
y malties were and the fac
~ defaulted on Dec. Is an,
md to take the consequence
= i14cation that many of then
y absolutely sincere in thei
laotations Of inability to pay tn
10 several cases the big con
= found the banks unwilling t,
ne money and some of then
now that the banks must relen
nrnish the funds. Rumors ar
y incidentally that the fedora
I'VE board intends to lower tn
scount rate and that money will
more plentiful after the first O
safy but there is no confirma
= Of the rumor.
na--
Mnsress has the responsibilit,
me moment Of helping tn
aless men over a tight place
~ treasury must follow the lette
ue Aw or its various collector
sul y liable to penalties for fail
~ % collect taxes. The republi
~ ~ u the house have sounde,
! =. ~ colleagues in the senate an,
~ Impression is general that bot
- ,..s vii pass the Edmonds reso
II will be recalled tha
a'of Smoot and others issue,
sIalns to taxpayers that n
Hsuon OF relief could be prom
~ sat that was before Dec. 1
49, w y was to the interest Of tn
! department to urge tn
asa! Of every cent that actual
sa % raised. At present tn
N mson Is whether the government
a0nally invade the propertie
~ business houses to collec
~ y whether it will extend tn
Of payments until March 1
sa.fge interest for the tim
n n!eselution Will Pass.
- signs point to the passag
- resolution and though Sec
Houston has given no init
~ " his attitude, it is not be
.st @at he will oppose it. Eo
Ssiaative is either making tn
Ssnent stand the loss ten,
| Or forcing receivership il
IMPORTANT business houses
.uer might have a seriou
y y The entire business situa
~ the favorable attitude q
y. ss.3 nment is fully expected I
~ . a palliative. There i
~ Mualse, however, that any eS
I ~ VIII be granted afte
( - - nor can the action Q
be regarded as a pre
!. Iof the future. Only tn
49, ISss,ous emergency has calle
~aa BY congress and tn
RI are that in the future a
past pa.t business men will neve
lnsal snal = payment has passe
\ y have made every effort I
4 nsands whether congress wi;
4 I'm out. In many instance.
n ,s.ness ,ss houses used Il,
n = \ Sa. ., other purposes and fail
-, Ne y. proper provision fo
\ -, I" oy installment. The 90,
sr..ay - nay help out this tim
N04oiy never aoo;-