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

prescribed for the willful failure OF
any employer TO furnish state
ments to the employe showing the
information required under the Act
or regulations made pursuant q
thereto, or for furnishing a falssN
or fraudulent statement. The Grim.
inal penalty is a fine of not more
than $1,000. or Imprisonment for
not more than l year, or both, IN
addition to a civil penalty OF not
more than $50 for each such fall
ure. Employers are also suoJect
to penalties for failure to maks
and file a timely return OF tax
withheld. and failure TO pay the
tax on time.
10. Payment Of Tax
II will be the duty OF every en-
ployer who withheld more than
500 during the month TO pay,
within 10 days after the close OF
each calendar month, to a deposiN
tary and financial agent authoriz-
ed by the Secretary OF the Treas
ury to receive deposits OF withheld
taxes. pursuant TO section 1851 oil
the Internal Revenue Code as adj
ded by the Current Tax Payment
Act OF 1913. all funds withheld az
taxes during that calendar month -
GAN banks insured by the FEEDER
al Deposit Insurance Corporation
are eligible to qualify as deposit
taries and financial agentsD On
or before the last day OF the
month following the close OF each
quarter OF each calendar year.
every employer shall make a re- d.
turn on Form WI TO the collecto;S
OF his district, covering the aggre-
gate amount OF taxes withheld
during that quarter, and attach TO
such return, as payment for the
taxes shown thereon. receipts In
the form approved by the Secre.'
tary OF the Treasury. issued by the
authorized depositary and finsnn
cial agent evidencing the payment
OF funds withheld as taxes; pro-
vided, however, that for taxes
withheld during the last month Of
the quarter the employer may. at
his election. in lieu of this meth
cd OF payment, include with his
return direct remittance to thu
collector for the amount OF the 4
taxes withheld during such last
month OF the quarter. The EN-.
ployer may obtain from his local
bank the names and locations OF
the nearby depositaries and finan-
cial agents authorized TO receive
deposits OF withheld taxes. A list
OF the depositaries and financial L,
agents will be furnished each bank
by the Federal Reserve Bank OF
the District.
20. Form 1899 Information
Returns
The making OF information re-
turns. Form 1899, will not be re-
CURED with respect to wage pay
ments from which the tax hasS
been withheld. provided that dup
ltcates OF the statements Form
W. and Form w are furnished
with the last return form W.D
for the year.
q. Other Records to be Kept
Every employer required 10
withhold tax is further required
TO keep such records and to rer. :
ter under oath such statements as
the Commissioner OF Internal Rev
enue may require under regula.
tons prescribed by him with the
approval of the Secretary OF the
Treasury. No form of records to
be maintained by the employer
has been prescribed. nor Is 1t con-.
templated that any particula y
form OF record will be prescribed.
Such records should be maintain
ed, however, as will indicate the
number OF persons employed dur
ing the year payments to whom
are subject TO the Withholding
the periods OF employ
ment. and the amounts and dateaS
Of payment.
%. Information TO be Furnished
Employees
1t is desirable that employers
acquaint employees fully with the
provisions OF the Act with respect
to the withholding OF income tar
from wage payments. For this,
purpose copies of an official nos
tice. Withholding of Income Tax
on Wages-Notice to Employees
in poster form, are available for
posting by the employers on the
premises OF establishments. En-.
ployers desiring such notices
should address a request TO the
collector OF internal revenue for 4
the district stating the number or
such notices desired. specifying
Withholding OF Income Tax on
Wages Notice VT" and such re.
quests will be filed as early as
practicable.
Guy J. Helvering.
Commissioner OF Internal
Revenue II
Washington. June 1943.