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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Page 11
... tax payments would coincide with the receipt of income . At the same time the problem of income - tax debt would be eliminated for these taxpayers . If the normal tax and the first bracket surtax , that is , the " basic liability " were ...
... tax payments would coincide with the receipt of income . At the same time the problem of income - tax debt would be eliminated for these taxpayers . If the normal tax and the first bracket surtax , that is , the " basic liability " were ...
Page 16
... tax funds . If their income stops suddenly , they would generally still be in a position to meet their tax liabilities over and above the currently paid basic liability . Moreover , most of this group of higher - bracket taxpayers would ...
... tax funds . If their income stops suddenly , they would generally still be in a position to meet their tax liabilities over and above the currently paid basic liability . Moreover , most of this group of higher - bracket taxpayers would ...
Page 17
... Taxes . A method of achieving transition that has been widely discussed is to forgive a year's liability . The overlapping of 2 years ' tax liabilities can be completely eliminated only through forgiveness . The amount of forgiveness ...
... Taxes . A method of achieving transition that has been widely discussed is to forgive a year's liability . The overlapping of 2 years ' tax liabilities can be completely eliminated only through forgiveness . The amount of forgiveness ...
Page 18
... Tax of Individuals on a Pay-as-you-go Basis. February 2,3,4,5,8,9,10,11,12 ... liability canceled , but he is at the same time required to pay another ... tax liability was forgiven , the effect of wiping out an income - tax asset through ...
... Tax of Individuals on a Pay-as-you-go Basis. February 2,3,4,5,8,9,10,11,12 ... liability canceled , but he is at the same time required to pay another ... tax liability was forgiven , the effect of wiping out an income - tax asset through ...
Page 19
... tax payments continue . The fact is , however , that throughout the history of the income tax , our taxes have been computed on a liability basis ; that is , we have taxes for the year 1942 , for the year 1943 , and so forth , measured ...
... tax payments continue . The fact is , however , that throughout the history of the income tax , our taxes have been computed on a liability basis ; that is , we have taxes for the year 1942 , for the year 1943 , and so forth , measured ...
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Common terms and phrases
1942 liability 1942 tax 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 farmer Federal FORAND forgiven forgiveness going Government income-tax debt income-tax return 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 payable payers period PICCHIONE present system problem proposal question receipts received refund Revenue Act RICHMOND ROBERTSON Ruml plan savings statement suggested surtax tax debt tax due tax payments tax rates taxable income taxation tentative tax tion Treasury Victory tax wages and salaries windfall withholding tax year's taxes
Popular passages
Page 408 - If there is no objection on the part of the committee, I would like to ask that they be made part of the record. Mr. JARMAN. The committee would be glad to receive them. (See "Compulsory Commitment Law for Alcoholics,
Page 508 - All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange...
Page 507 - ... payments and required to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Commissioner...
Page 507 - ... interest, rent, salaries, wages, premiums, annuities, compensation, remuneration, emoluments, or other fixed or determinable gains, profits, and income...
Page 507 - That all individuals, corporations and partnerships, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of the United States, having the control, receipt, custody, disposal, or payment, of interest, rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or...
Page 523 - ... or in the case of the head of a family or a married person living with husband or wife, a personal exemption of $2,500.
Page 188 - I do not think it is fair and I do not think it is in keeping with the spirit of democracy.
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.
Page 519 - Wise statesmen as they were, they knew the tendency of prosperity to breed tyrants, and so they established these great self-evident truths, that when in the distant future some man, some faction, some interest, should set up the doctrine that none but rich men, or none but white men, or none but AngloSaxon white men, were entitled to life, liberty, and the pursuit of happiness...
Page 507 - ... or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and required to make returns in regard thereto by the regulations hereinafter provided for...