Detroit evening times. (Detroit, Mich) 1921-1958, 1943-05-27

@ When must l make my next
tax payment?
A-By June Is. 1913. IL YOU
have been paying your taxes In
quarterly instruments.
Q-HoW much viii IL be-
A-The same amount that was
due March Is, l9i3.
Q-Do ] have 10 keep on max,
ing quarterly payments the same
as before?
A-That depends on how
much YOU make a year and how
YOU make II. You do not have
Ia IL your net income, after
deducting personal exemption
and all other deductions such
as contributions, is $1,000
year or less and is derived from
wages or salaries. Otherwise
YOU do.
Q-DocS that mean that The
two quarterly payments arr
enough 10 pay the entire year
tax for a person under 81 600 ne
income
A-NO. The two quarterly
payments equal about One-half
Of the wears tax hill. The other
onc-half will he collected at the
source, through deductions from
your paycheck beginning July !,
@ How will those deduction
be made?
A-If you're single and have
no dependents your employers
will take out 30 per cent OF all
over Sl2 week. IL you're
married and have no other de-
pendents, your employer will
take out 20 per cent of all over
S2i n week. For each dependent
there L. an additional Sc a
week exemption, regardless Of
whether you are married or
single.
@ Does that make me al
square with the government, then
at the end of the year?
A-Not necessarily. You have
10 file a final return by March
-, 1874, showing how much tax
YOU paid during l843 through
both quarterly payments and six
months Of withholding taxes and
the amount actually due. IL
would be computed just as under
present law.
@ Do | still get credit fol
church and charity contributions
interest on loans and that sort o
thing?
Ayes, YOU take credit for
those in the return YOU file next
March Is. the same as hereto
fore. II your total payments this
year exceed what YOU actually
owe after computing that re-
turn, you have "A refund or
credit coming. IT payments this
year are less than what you
owe according to that return.
YOU have To pay the difference
on March Is. You'll probably
owe something il your i04S in
come Is higher than 1912 in
come.
@ Then where does the for
giVcness" come in?
A-That's a bookkeeping mat
ter only, so that taxes paid this
wear are credited against 1913
income instead of 1912.
@ What II my 1912 tax wa!
figured al 5000 and | paid one
fourth Of il $50 on March II
1913? Wouldn't that put me or
a current basis and eliminate an!
carry-over 10 March Is next year
A-No, that $50 and another
$50 due June Is are both cred
tied against the tax on your
1913 earnings, so that the treas
ury can figure you on current
basis when the withholding tax
starts July |.
@ It's true though isn't II, tina
Is per cent forgiveness or my 1914.
tax cuts my $500 liability for 1874.
down 10 $50?
Ayes, and you've got two
years tn pay it-S25 on March
Is. 1914, and SIS on March Is,
1915. These two S25 installments
would he In addition to all cur
rent taxes due In those years.
Q-What about the ) per cen
victory tax I've been paying since
Jan. l943?
Alt won't show up on your
paycheck as separate deduc-
ton any more. II will he in
cluded in the 20 per cent being
deducted.
Q-What about the part alread!
paid which was supposed TO b.
refundable
A-You still get that refund
next year, II you've been buy
ing bonds, paying insurance,
etc, under the original rules.
after the war. otherwise. The
amount deducted for victory tax
will he reduced to 3 per cent
In the new Withholding tax,
however, and none Of il will ne
subject tn refund.
@ When do | have 70 file m,
next income tax return
Al YOU arc single and make
more than $500 year or III
YOU are married and make more
than $500 a year. you have 10
file by sept. Is Of this year
an estimate Of your total earn
ingS for the year and the total
amount Of tax you think will he
due. This return will also show
the amounts paid March Is and