Individual Income Tax: Hearings Before the Committee on Ways and Means, House of Representatives, Seventy-eighth Congress, First Session, on a Proposal to Place Income Tax of Individuals on a Pay-as-you-go Basis. February 2,3,4,5,8,9,10,11,12, and 15, 1943 |
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Common terms and phrases
1942 income tax 1942 liability 20 percent ability to pay additional assessment asset Beardsley Ruml brackets BRAVMAN BRENCKMAN burden cancelation CARLSON CHAIRMAN collection at source committee Congress COOPER CRAWFORD current basis current income death tax deductions DEWEY DINGELL DISNEY dollars Doughton earned employers estate tax estimated exemptions farmer Federal FORAND forgiven forgiveness going Government income-tax debt income-tax returns increase individual JENKINS KNUTSON last year's income loss March 15 MCGRANERY McLEAN ment method millions net income normal tax PAUL pay taxes pay their taxes pay-as-you-earn pay-as-you-go basis pay-as-you-go plan pay-as-you-go tax period PICCHIONE present system problem proposal question receipts received REED refund Revenue Act RICHMOND ROBERTSON Ruml plan savings statement suggestion surtax tax debt tax due tax payments tax rates taxation tentative tax thing tion Victory tax wages and salaries windfall withholding tax year's taxes
Popular passages
Page 507 - the Treasury, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment: Provided, That such returns shall be required, regardless of amounts, in the case of payments of interest upon bonds and mortgages or deeds of trust or other similar obligations of corporations, joint-stock companies,
Page 519 - In their enlightened belief, nothing stamped with the Divine image and likeness was sent into the world to be trodden on and degraded and imbruted by its fellows. They grasped not only the whole race then living, but they reached forward and seized upon the farthest posterity. They said to the whole world of men: "We hold these truths to be self-evident;
Page 508 - associations, undertaking as a matter of business or for profit the collection of foreign payments of such interest or dividends by means of coupons, checks, or bills of exchange. "When necessary to make effective the provisions of this section the name and address of the recipient of income shall be furnished upon demand of the person, corporation, partnership, association, or insurance company paying the income.
Page 451 - taxable year, and such other information for the purpose of carrying out the provisions of this chapter, as the Commissioner, with the approval of the Secretary, may by regulation prescribe. Except for the purposes of section 145 (c) such tentative return shall not be deemed a return for the purposes of this chapter. "Mr.
Page 507 - return in lieu of the withholding provisions of the former acts. The act of 1913, above cited, provided as follows: "Provided, * * *; and also all persons, firms, companies, copartnerships, Corporations, joint-stock companies or associations, and insurance companies, Except as hereinafter provided, in whatever capacity acting, having the control, Receipt, disposal, or payment of fixed or determinable annual or
Page 155 - at 10 am, Hon. Eobert L. Doughton (chairman) presiding. The Chairman. The committee will be in order. The first witness on the calendar today is Mr. Beardsley Ruml, of New York. First, would you prefer to conclude your main statement without interruptions? Please identify yourself for the purpose of the record, Mr. Ruml.
Page 541 - 1943 House of Representatives, Committee on Ways and Means, The Chairman. The committee will be in order. Mr. Carlson. Mr. Chairman, I ask permission, by unanimous consent, to insert in the record a letter from the president of the
Page 507 - gains, Profits, and income of another person subject to tax, shall in behalf of such person deduct and withhold from the payment an amount equivalent to the normal income tax upon the same and make and render a return, as aforesaid, but separate and distinct, of the portion of the income of each person from which the
Page 313 - settling and adjusting the 1942 tax. Mr. Jenkins. Before we adjourn, Mr. Chairman, I would like to make a part of the record a communication I received from the Ohio Chamber of Commerce. Mr. Dingell. Without objection, that may be done. (The letter referred to follows:) • Ohio Chamber of Commerce, Columbus, Ohio, February 6, 1943.
Page 507 - associations and insurance companies, and in the case of collections of items (not payable in the United States) of interest upon the bonds of foreign countries and interest