The Western news. [volume] (Libby, Mont.) 1933-current, 1944-04-06
Gives information
About Filing
Estimated Income

WASHINGTON, D. C.-Joseph D.
Nunan, Jr., commissioner OF Inter
nal Revenue, announced today that
mailing has begun of the forms to
be used by an estimated 100000
taxpayers in filing their Declaration
of Estimated 1914 Tax, which are
due not later than April Is.
The forms (Form 104OES) are
similar in appearance and general
content to the forms used for the
l943 declaration last September and
December. They are being mailed
to all persons who filed declarations
last fall. Others who are required
to file this year may obtain copies
from any Collector of Internal Rev
enue.
The declaration form itself is a
printed slip ga by 8 inches. It is
accompanied by two alternative
worksheets. One is sfmplified
worksheet which may be used to
approximate his 1914 tax by any
taxpayer whose income does not ex-
coed $4,000. The other is more
detailed worksheet for the use OF
taxpayers whose income exceeds
$4,000 and also for persons with
smaller incomes who prefer to make
a more precise calculation of their
1914 tax than can be made from the
simplified worksheet.
'These declarations" Commission
err Nunan said, "are step IN the
pay-as-you- go system Of income-tax
e collection.
approximately 5O,OO0,000 of US
have Just filed our annual income
tax returns for 1913. That took care
of last years tax.
Nov it's time to look ahead and
see that we keep with this years
tax. For most taxpayers, the tax
that is withheld from their wages
is sufficient to keep them substan-
TALLY paid up. Those taxpayers have
nothing further to file until their
annual returns are due IN the early
months of 1945
"But there are about 100000
of us who will owe some tax in
addition to what it taken out OF
wages. There are two reasons for
that.
First. we must remember that
the tax that it withheld from wages
is always at the lowest tax rate.
The withholding is not sufficient to
meet the total tax Of Wage-Workers
who earn enough to be liable for the
higher tax rates which apply to
their higher incomes.
Second, many Of us have income
from sources where no tax is with
held-rents, royalties, dividends, in
terest, business or professional
earnings, property or stock transac-
tons, etc.
For both these groups, the law
requires a declaration to be made
for the purpose Of estimating and
paying currently any tax that is due
over and above the tax that is with
held from wages"
Thus, a declaration is required on
or before April Is from all citizens
or residents of the United States
who expect to have during 1871
either alone or together with a wife
or husband -
/. Wages subject to withholding
exceeding $2,700 for single person
or $4,000 for a married couple llv-
inv together.
Q. or, more than $100 income from
all other sources if the total OF such
income plus wages subject to with
holding is (a) $500 or more for a
single person, or (b) more than
1924 for married person, or (c)
$1,000 or more for married couple
living together.
The first quarterly installment OF
estimated tax shown to be due on
the declaration should be made at
the time the declaration is filed and
the remainder should be paid on or
before June Is, September 10, and
December Is.
Farmers, who receive more than
80 per cent of their income from
farming, may, if they desire, post
pone the filing of declarations un-
til December Is. However, If they
do wait until December Is, the en-
tire amount of the estimated tax
must be paid at that time.
Epidemic Follows War