The Chronicle-star combined with the Moss Point advertiser., 1943-07-02
Sharpen Your Pencil
New Tax Payment Plan Needs Bookkeeping
~ ALEXANDER p GEORGE
AZ Feature Writer

~ AN
waxhingfcn-Dont set too ex
cited II ne government seems Sc
b. kniekins yuur pay check fof >
bigger Tor q smaller incoFs'e tran
you would have to eontrib0ts IN
der The cid method a collection
The pay-as.you 80 plan vii
result IN some wage earaers tenn
purafiiy paying more taxes than
they actually owe A large NUN
Der. for the t.fne being wiD pay
less than thsf owe Uncle sam,
however. vii square ~ with
beth groups next March
(This Is entirely sepsrste. Of
course. from tire unahated Is per
cent 81 one years taxes-ie4z or
1919. whichever Is loweF-whieh
are g he pal9 half on March IS.
1894. and half an Msfrh IS. 1898
Same Tax Rate
Tax rates on 1913 income are
the same IS they were on 1852 IN
come THE new las 0nIf changes
the naeihod 81 collecting taxes
Temporary over pas meuts and
under pavmeuts result from ef-
forts 20 simplify the Withholding
process
One reason Tor this ia the wage
bracket uaefhod If Withholding
taxes A levy Of 20 per cent on
wages above z a week for stn
gle persons. s24 . week sur mar
RED persons tplns Sc for each de-
pendent IS the basic Withholding
rate But employers may II they
desire. use government tahies
which specify tire Withholding
amounts for each wage bracket
The idea i q make their book
keeping easier.
Fer example. John Smith mar
ried and 40 children has . wage
q $50 a week He vfIl contribute
the same amount s. 20 = week
as Bill Brown. . So per-Week
ma with the same family status
Inequalities Ike this viii be sd
justed in complete returns on 1913
income vhieh taxpayers must
make as usual By next March IS.
Deductions Vary
II 3 wage Garner has contrib
uted more tax than he actually
owes, the collector Ct revenue vail
then give MIN 3 refund II ne Owes
more tax than has been withheld.
he wiii have to pay the difference
Another reason for temporary
overpsyment and andefpaymen'
is hat the withholding plan
makes specific allowance for on.
IL one deduction-persenal ex'
eruption based or family status
A statistical alioNanes IS mads
for the average deduction bat
wage Farmers with unusually
large deductions may - over.
taxed and these with very sual
credits may - uudertaxed TEN.
poFarily
TIE ne9 system IS or ne oam.
plseaged SIDE eat the thing - -.
member s uaHt TIE Withholding
lew aims q collecting from eM.
rent income 3 sum roughly ap.
proxiIatHnE SEXUAL TAI liability
Ard liability s base on ne szms
tax rates aid he same allowance.
Tor exemptions and deductions a
you used IN making OIL goux 80.
turns last March
Exsrs Boskkespaaz PEI S0ns
Certain classes - taxpeEeft
however. Uiu have % % SONS
exfFa hookkeenEnE fhaE year sn
gie perana reeeiNsnF NaEes HE
mea 60 ezceea 81 go and naH
peresns receiving Hag@ q u
thar $50 masf estimate aHI
tx liability ah1re ERE AEta
lna ameaHt Hzas la43 March 80
June payments OF e
ane nsf Hna Haceaa H1en ar1 -
De- IS AaW rs sea- eaas
aetEsuaenfs 80 - Ha aaazzg
fs-aa lHa Iszh - HeHzE aanf
sersrmhsz sna DeeHn
Haasaaz aa reserve HaeH p
core frnn rassnez pHan
nsnsz t.sldeaz &c MNa g
frasn wsza 80 Mzaa Hkssa
usH e~szs1asde aN Lab
sna pzY 1aaHaffia nzfsIlmsHn
= waHz ez#HFH Hc1
NJ. taza 500 Hz faf
- a.Isrf ear - -
.aHastH b. 81
~ -