Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-03-20
BOTH INDIVIDUALS
AND CORPORATIONS
INCREASE EARNINGS
Stability Of General Business
Seen in Greater Number Of
Returns and Amount Paid
at Time of Filing

A preliminary analysis of income
tax figures for 1922 by Collector
Josiah T. Rose Saturday showed ire
mendous increases in all classes of
individual and corporation earnings
over the previous year, accurately
indicating the increased stability Of
business generally.
Last year approximately $4,000
returns were filed, including those
on which taxes were paid end those
on which the allowed exemptions
eliminated the tax.
This year the indications are that
the figure will pass 100000 by wide
margin. AS yet no figures have
been compiled except on those re-
turns on which tax was paid.
This year 32,4OO returns were
made on taxable, income below $5,-
600, against 2S,600 for last year. Of
this number the taxes on 1920 re-
turns were paid in full at the time
Of filing, against 5000 paid in full
last year.
On incomes in excess of $4,000 the
number of returns this year was
exactly 1900, against $4,000 for
the previous year. OF this number.
5000 were paid in full at the time
of filing against 5000 last year.
Five thousand, seven hundred cor
porations filed taxable returns,
against $500 last year, and several
thousand other corporations and
business concerns filed returns on
which no tax was required.
ENTIRE U. S. GIVES
EVIDENCE OF PROSPERITY
BY Theodore Tiller
WASHINGTON. March 18.-While
reports trickled in from income tax
collectors the country over, S.
Parker Gilbert, Jr., regarded as the
financial wizard of the treasury de.
partment, although his age is
around only thirty years, took
charge of all tax reports and an
nounced that within a day or two
he would put out the official figures
showing that prosperity has come
back and the average taxpayer is
comparatively happy. Not all OF
the tax returns for March Is are
in hand but the preliminary and
tentative reports are that business
has been looking up for the past
year and the March tax payments
on that business will exceed $780,
100000
This sum was mentioned as
maximum in treasury forecasts
some months ago, and despite re-
peal Of excess profits taxes, a re.
duction in the higher brackets OF
the income taxes, and an increased
exemption for the man who gets less
than $4,000 a year, the payment of
taxes to Uncle Sam on March Is,
this year, will fill a larger chest than
was necessary March Is a year ago.
Returns already received by the
treasury department from collectors
in verious sections give practical as
surance that the March payments
will exceed considerably $500, 900 900,
and these returns represent about
one-fourth of the eventual total.
Comparatively few persons or cor
porations, it is revealed, pay at the
beginning of the first quarter the
full years taxes. Therefore, the
March Is returns, as a rule, indi-
cate the taXpaying power of the
country and it's state of prosperity
for the preceding twelve months.
That the March returns and pay
ments this year are considerably in
excess of the record of last March
Is, is, therefore, considered by treas
ury officials as indicating a sub
stantial prosperity throughout the
country