The Western news. [volume] (Libby, Mont.) 1933-current, 1944-01-06
Elves Much
Detail On
Income Taxes
Internal Revenue Collector
Tells Who Must and
/ Must Not Submit Report.
EXPLAINS HOW ONE
NAY SECURE HELP


Lewis Penwell, Collector Of In
. ernal Revenue, announces that ne
as begun to mail copies Of the 1943
idiyidual Income and Victory Tax
etufn 70 the estimated 10000 Fed
t>al income tax payers in the dis
Act Of Montana.
s1-ollector Penwell says, Although
.se returns are not required by
: u to be filed until March Is, /
= lnot urge too strongly that every
6 prepare and file his return as
= ~ as possible.
:. There are he says, two major
nts that are vital for everyone
y understand. First, many persons
ILL owe a substantial tax and
koult1 start Immediately to find out
\ W much they will owe and to
~ IKE plans for meeting the obfiga-
IN. | must emphasize this as q
hole matter OF fairness to those
kpayers who may have overlooked
= phase OF the change-over TO
pay-as- you-go system.
Second, although many taxpaY-
will find that they are sub
nntially paid up on their l943
kes-some of them, in fact, being
kitled to refunds--it is still neceS-
~ for them to file return
n Collector PenWell explains that,
!, der the payras-you-go system, all
rent tax payments through with
ding from wages or by means OF
I pments on declarations OF estl-
tied tax are only approximate.
erefore, it is necessary to file a
Alrn at the close of the year to
ermine the exact amount OF each
I fson's tax liability and to deter
he whether he underpaid or over
q his taxes. In instances where
current payments were less than
- tax payable March 18th, remit
8{fce OF the difference will sbs
necessary at the time OF filing the
return. This amount cannot pc PAID
in installments. In instances where
the current payments were larger
than the final tax, the taxpayer
will be enabled to secure refund
merely by filing his return. 4.
Early preparation Of returns Will
be advisable, Collector PenWell
says, to serve as guide TO the
thousands of taxpayers who Will
have substantial payments to make
and need to know how much the
taxes will be so that they can make
advance preparations to pay these
taxes. =.
Substantial payments will be
necessary in certain instances be-
cause (a) most individuals who had
a 1912 tax must pay at least one
half OF the unforgiven portion q
that tax in addition to their 1913
tax. and (b) during the first six
months OF l943 only the victory
tax, but not the income tax, was
withheld from wages.
Particularly, persons who took
Jobs for the first time in l943 and
those whose wages increased sharp
" from 1912 to 1913 may have sub
stantial payments TO make, Collector
penwell says. AS an illustration, he
points out that q single person who
earned $4,000 wages in l943 but
who had no 1912 tax, will owe near
" $3.50 on March Is, or nearly three
ane one-han weeks wages. Since
this payment must be made in one
sum at the time the 1943 return IS
filed, the Collector points out the
advantages OF determining the IL
ability and saving for it IN ad-
vance.
In the past, many taxpayers have
postponed filing returns until the
last minute in order to delay the
payments which had to be made
with the returns. However, this year
great many taxpayers will find
that, under the pay-as-you- sys-
tenn, they are already substantially
current in their tax payments.
These taxpayers, especially, ought to
find it convenient to file as early
as possible.
In any. case, early filing will help
the taxpayer know where he stands,
how much he owes, or how much
refund he should expect; 1t will
assure him OF any assistance he
NAV need without standing in long
lines; it will help the government
and the war effort.
who Must File
A return must be made by every
individual who during the taxable
year 1913
Was single and had $500 or
more income.
Was married and had more than
1924 income.
Was married and, together with
wife or husband, had $1,000 or more
income.
In addition, return must be filed
by everyone who paid or owed a
tax on 1912 income
. A return should be filed likewise
by anyone claiming refund OF
taxes withheld from wages.
The requirements for filing 1943
returns on or before March is, ap-
p1y to civilians and personnel Of the
armed forces alike, except that
Continued on page 81