Milford chronicle., 1924-06-13
INSTRUCTION GIVEN
INCOME TAXPAYERS
By Collector John W. Herring Con-
cerning Payment On The In
stallment Plan.

IF at the time you filed your fed
eraI income tax return you paid
three-tourths of the amount of tax
reported, no further payment will be
DUE Ii at the time you filed your re-
turn, you paid one half of the amount
OF tax reported, no payment will be
due until September 18th. If at the
time you filed your return, you paid
only one-fourth of the amount of tax
reported, you must pay on or before
June 18th one-half of the amount paid
by you when you filed your return.
The main point to be borne in mind
is that one-half of the tax due from
you this year must have been paid on
or before June 18th"
These instructions have been issued
by United States Collector of Internal
Revenue John w. Herring, in response
to many inquiries being received at
his Office regarding the second INSTALL !
ment of Federal tax due June Is. The !
usual notices have been issued by the |
collector reminding income tax payers
that the second installment of tax is |
due June Is. Of special interest to tax
payers is the provision carried in the
new revenue law to the effect that the
tax on income received by individuals
IN the calendar year 1928 will be re-
duced by 25 per cent. This means that
every individual who is subject to in
come tax will be relieved of one
fourth of the tax liability which he re-
ported on the return filed on or prior
to March Is, or if the tax was paid in
full that he will receive a refund of
of his payment.
Taxpayers who paid only one-fourth
If their tax in March, however should
lot make the mistake of thinking thew [
nay take credit for the full 25 per a
'ent reduction at once and not pay a
when the second installment D
ONES due. The new law provides that
he 25 per cent reduction shall be v
rorated over all four installments. Ii
or instance, if an individual reported b
tax of $100 on his return, he can
onsider that the new law has reduc- n
d his tax to SIS. If he paid S25, or
ne-fOurth of the amount reported n
hen he filed his return, then he must l
ay $3.50 on or before June Is. This
mount, together with the S25 preyi-
lsly paid, will make up ona-half of
le SIS. A simple way for taxpayer
arrive at the amount of his June al
lyment is to remember that if his lie
arch payment was One-fourth of the T;
Mount shown on his return, his June M
lyment, will be just one half of his no
arch payment. The tax remaining H;
paid after June Is, may be paid in 9tl
ual installments on or before Sep se-
mber Is and December IS, respec- ed
ely. est
In view of the fact that the tax Ju
tices were prepared prior to the dir
actment of the new law, a taxpay- wh
who paid three-fourths of the tax be
filing his return may receive a no the
e from the collector advising of the eni
ount assessed, amount paid and we,
remaining balance, but in cases the
this nature no further payment is Brs
:. The payment made in June, plus SeV
amount already paid, must equal into
,-half of the total tax due, after the
ing the 25 per cent deduction. the
ewise, the amount paid in Septem- mes
plus the amount previously paid lent
st equal three-fourths of the total me1
liability, after the 25 per cent de- and
tion has been taken. The remaind- innt
Of the tax liability will be payable nun
or before December Is. In cases anct
re taxpayers paid the full amounts ovat
ak shown on their returns. re- ty u
is will be made of one-fourth of idly
amounts. 1t will not be necessary well
claims to be filed. fOun