The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1943-06-17

$3.50. or the amount OF wages sub
ject to the 90 per cent withhold
ing tax.
ca The employer computes 20
per cent OF $3.50 and arrives at a
tax to be withheld OF $l.73.
Assume that the wages in the
foregoing example are $3.50 a
week rather than s44.63 and the
percentage method is used.
The steps in this case follow:
"a The employer finds from the
Victory Tax Withholding Exemp.
ton Schedule, shown in Specific
Instruction 6. that the exemption
for a weekly payroll period for
all persons regardless OF family
status is $1,000.
(2) The employer substracts
this exemption OF $1,000 from the
weekly wage OF $3.50 and obtains
$3.50. or the amount OF wages
subject TO the per cent withhold
ing tax.
(3D The employer computes 3
per cent OF $3.50 and arrives at a
tax to be withheld OF s0.s3. This
is the correct amount of tax to be
withheld because the application
In this case OF the 30 per cent rate
to the wages in excess OF the fam
lily status Withholding exemption
would result in a tax Of only 1910.
In any case In which an exact
computation OF the amount to be
withheld is made. the wages may
be rounded out to the nearest dol
lar.
ID. Statement to be Furnished
Employe
Employers must furnish to each
employe from whose wages they
withheld taxes a written state
ment (W-2) showing the wages
paid and the amount OF tax with
held during the calendar year.
This statement (unless an extern
sion OF time has been previously
granted by the Commissioner OF
Internal Revenue) shall be given
TO the employee on or before Jan
uary 81 OF the succeeding year; or,
II the employment ends before the
close of the year, on the day on
which the last payment OF wages
is made. 81
In the case OF Intermittent en-
ployment. when at the end OF any
term OF employment II is not ex-
pected that the employee will be
reemployed. then a statement must
be furnished him for the amount
OF tax withheld from payments
made during the period OF employ
ment
With respect to the calendar
year 1943, only one statement is
required. It should cover the 5
per cent Victory Tax wiwthheld
beginning January l. and the 20
per cent tax withheld beginning
July I.
While the form OF statement is
prescribed by the Commissioner
of Internal Revenue. statements
prepared in substantially like form
and size (but in no case larger
than 3 by 3ia inches) will be &C
ceptable.
IS. Duplicate OF Statement
Required
Employers must transmit to the
collector duplicate of each state
ment to employees (W-2) with their
final return ovid for the fourth
quarter OF the calendar year. II
the employer discontinues bust
ness or ceases to be an employ.
err. he will file with his final re-
turn duplicates OF all statements
(W-2 and Wy.
Where the number OF such dup
licate statements is large. they
may be forwarded in separate
packages, properly identified by
reference TO the return. Employ
ers with numerous establishments
or payrolls should assemble the
duplicates by establishment or by
payroll.
rs. Return OF Income Tax Withheld
on Wages
Every employer required to with
hold the tax on wages Is required
to make a return and pay such tax
tsee Specific Instruction 49, on or
before the last day OF the month
following the close OF each quarter
OF each calendar year. II the
United States, a State, Territory,
or political subdivision. or the Dis
trict OF Columbia, or any agency
or fundamentally OF any one or
more OF the foregoing is the en-
ployer, the return OF the tax may
be made by the officer or employee
having control OF the payment of
wages or other officer or employee
appropriately designated for that
purpose.
The first return, covering tax
withheld during the quarter ended
September 80. 1913. must be made
not later than October 81. 1913.
In the case OF most employers on
the Victory Tax mailing lists of
the collectors OF internal revenue.
return Form WI will be received
through the mail. Employers not
on such mailing lists. or who do