The Dawson news. (Dawson, Ga.) 1889-current, 1925-12-01
THE NUMBER OF SMALL
TAXPAYERS IS REDUCED
ruoSE WITH LARGE INCOMES,
uowEvER, INCREASED DUR
ING THE PAST YEAR.
pEvENUE HAS ALSO GAINED

p,rsau for First Time, Gives Total
M x-Exempt Securities as S.
2SOOo,oOo. Incomes Over $1,OoO,-
900 Is Placed at IA.
The first official figures OF the re-
4,rns of individual incomes taxes I'M
dor the reduced rates of the revenue
,,t Of 1924 have been made public by
.be internal revenue bureau, showing
IN increase of $25,482,26O, or $40 per
cent in the total tax for the calendar
wear 1924, as compared with 1928. The
satisfies were compiled from returns
fled from March Is, 1925, up to Sep
tember 80, 1925.
The figures generally show decreas-
&c in the number of large taxpayers
and in the amount of revenue paid by
tbem under the present law, which
became effective on January |, 1925.
Reduction in the number OF small tax
oavers and the revenue from them
was disclosed 1t was also shown that
the net incomes reported by the larg-
er taxpayers in 1924 increased, while
h tbe net incomes of the smaller tax
payers fell off.
Total Tax-Exempt Securities.
For the first time the revenue bu-
rear issued detailed statistics of the
amount of tax-exempt securities held
by federal taxpayers. A total of S.
s. 2l8000.000 of tax-exempt securities
was reported for 1924 by persons hav-
mg net incomes of $4,000 or over, up
m which the total interest received
was S232o77 900. OF this total $685.
100000 consisted of wholly taX-exempt
securities, on which the interest re-
ceiyed was $152,438,000, and S1,563,-
& 100000 represented the tax-exempt Sc
s curities. on which the interest was
SO,53S,000
The number of personal returns fill
ed I'D to September 80 was 7,29S,4Sl,
the agreate net income SIS, 900 900
and the net tax 5000, $4,000 AS COM
pared with 1923, these figures show a
decrease of 399,S40, or 5.4S per cent
IN the number OF returns, but an in
crease of SlS3,073,000 in the total net
income and an increase of $4,000, 600
in the total tax.
Tax reduction as a result OF the
earned income credit cost the govern
ment S27,538,000 and the total credit
for capital losses amounted to $Il38,-
600.
There were "a incomes OF $1,00O,O0O
and over filed in 1924, the same as in
1928. There were 3 incomes of $5,00O,-
900 and over. 3 of 100000 to S.
100000 of S3,000,000 to $4,000OO0
Is OF 100000 to S3,000000, IS OF
8 81 100000 to 100000, SO OF $1,000
600 to $1,5O0,O00, 240 of $5OOOOO to
100000, 1877 of 100000 to $780,
600. 322 of 100000 to 100000, 24s
Of S250,000 to 100000 and $40 OF
q 100000 to $250,000.
Number of Returns Decrease.
The number of personal returns nj
ed decreased in 1924 as compared with
4 1923 in all classes of income below
81 $1,000. but increased steadily in al
other classes until the $1,000,000 class
was reached, where the number was
the same as in the previous year. The
amount of net income reported tor IN
comes up to $4,000 fell off as compar-
ed with 1923, but all other classes OF
income, including the $l,00O,0OO class
showed increases. The tax yield by
Il classes of income showed a decline II
II 1924 for all incomes under $l0.O0o, bu'
from that point the tax yield was
s. grpatar 41,or -, 1923
The distribution of the 25,O0O,OOo''
COO net income reported III l9Z4 snow
ed that $13766,000,0 came from sal
aries wages and commissions; $/,9|4'
100000 from business trade and com
MERGE, and $7,474,000,000 from prop
erty, including rents, interests OF
bonds and dividends, making tota
OF $29.2l4,O00,000 from which genera
reductions OF 100000 and char
table contributions Of $52o,44l, 0O'
were deducted. 4.
Analysis of the tax-eXempt securi
ties reported showed that the largees
amount of wholly tax-free securities
were held in 1924 by taxpayers witt
net incomes between $100,000 an'
Sl5O0O0; there being $380OO0,OOo o
wholly tax-exempt securities reported
by that class of taxpayers. Taxpayer
with incomes between $15,O0o an'
$4,000 reported the largest holding,
OF partially tax-exempt securlties
amounting to $164,000,00O. Partially
tax-exempt securities consist OF liberty
bonds and other government securi
ties, other than the liberty 5Ia pc
cent bonds.
The revenue bureaus figures cove
3 only personal incomes. A report EN-
bracing the returns of individuals
Partnerships and corporations is II
M DreDor 60,