New Britain herald., 1924-06-03
TAX DEDUCTIONS ON NEXT PAYMENT Those Who Have Paid in Full
 Mill Get Refund DEPT. ORDERS
Main Point To Be Borne In Mind Is That One-Half of the Tax Due For

This Year Must Be Paid By June 1
 Washington, June 3.--Official diret
 lions were issued today by the treas
 ury department covering the proces
 the taxpayer should go through in dc
 termining how he should pay hi taxes under the new revenue bill. If at the time you filed your fedora
 income tax return you paid. three
 fourths of the amount Of the tax re
 ports, no further payments will b, due" the treasury said.
 If at the time you filed your return you paid one-half Of the amount o tax reported, no payment win be due , until September IS. "Tf at the time you filed your re, turn you paid only one-fourth of the amount of the tax reported, you must pay on or before June IS, one-half .. the amount paid by you when you filed your return.
 "rhe main point to be borne in
 
 from you this year must be paid on or before June l5.
 Will Get Refund
 "The usual notices have been issued by internal revenue collectors remind ing income taxpayers that the second instalment of tax is due June i5. or special interest to taxpayers is the ,,t..,,stgta,, earriaJ t,a prA Ia. law 10 the effect that the tax on in- comes received by individuals in the calendar year 1928 will he reduced by % per cent. This means that every who is subject to income tax will be relieved Of one-fourth of the tax liability which he reported on the return filed on or prior to March Is. or if the tax was paid in full that ho will receive a refund Of one-fourth Of his payments.
 Warning Is Given.
 "Taxpayers who paid only one fourth Of their tax in March, how arer, should not make the mistake of they may take credit for the full s5 per cent reduction al once and hot pay anything when the second in- stallment comes due. The new law that the 25 per cent reduce ion shall be prorated over all four in- stallments. For instance, if an indi- idual reported a tax or si0o on his 'cturn he can consider that the new aw has reduced his tax to si5. If he ,aid so5 CT onc-fourth Of ihe amount when he filed his return, hen he must pay si2.5o on or before tune l5. This amount, together with ! he s2S previously paid. will make up ,ne-haif Of the SIS. A special way or taxpayer to arrive at the amount f his June payment is to remember hat if hia March payment was one- onrth Of the amount shown on his re- urn, his June payment will be just ne-balf Of his March payment. The ax remaining unpaid after June ij, nay be paid in equal instalments on z before Sept smber IS. and Decem- er IS, respectively.
 "A considerable number Of taxpay- rs who are accustomed so paying all 1eir tax when they filed their returns, nticipated the g per cent reduction nd his year paid only three-fourths the amounts reported on their re- rms. This class Of taxpayers will Of purse have nothing further 10 pay iis year unless additional tax ia dis csscd when their returns are audited. There will no doubt he many indi- duals who will desire to settle their ] K accounts in full now that the 25 { -r cent reduction is an accomplished ' ct. The amount due in any instance here taxpayer desires to pay in full 2 ill he the total amount of tax shown ! the time of filing he return. less a I .r csnt, and less ihe amount paid at ' e time Of filing the return. The col [ ctors of internal revenue state that q ch action would be advantag geous om the governments viewpoint as it ' ould eliminate considerable book q .eping. g
 Many Receive Notices n ''Tn yiew Of the fact that the tax r tices were prepared prior to the actment of the new law. 2 tax | ser who paid three-foBrths Of the Y on fling his return may receive notice from the collector advising Of } amount assessed. amount paid q i the remaining balance. but in al sss of this nature no further pay a mt is due. The payment made in ir ne. plus the amount already paid. b. lst equal one-haif of the total tax D, e, after taking the deduction Of 25 K ! cent. Likewise the amount paid W September plus the amount previ- tH sly paid must equal three-fourths of iii total tax liability after the deduc- hs n Of g per rent has been taken. rn 2 remainder Of the tax liability will dr payable on or before December IS. In cases where taxpayers paid the or amount Of tax shown on their ke grns. refunds will be made Of one ve rth Of the amounts. IL will not be all essary for claims 10 he filed. Tn du correspondence from taxpayers th itife 10 such refunds 1iI prob ru ' serve 10 slow down the work Of eel collector in listing all the items ho
 sending the necessary schedules bo in order that the di, .