Soldiers Get Extension
A notice in the Daily and Sunday Post introduces the 37th part of a series by Thomas H. Ray on federal income tax. It lists prior topics covered from February 6 to March 13 including history of legislation, capital assets, deductions, corporate returns, invested capital, and personal returns guidance.
MENTIONED IN THIS ARTICLE
Thomas H. Ray
Daily and Sunday Post
Tax rate applies to excess over credits and tiered tax
The tax rate is 6 percent on the first 4000 dollars in excess of credits and 12 percent on all income over that sum. For example a 7000 dollar income with 2600 credits yields 6 percent on 4000 between 2600 and 6600 and 12 percent on the remaining 400.
Corporate Tax Questions and Answers on Returns and Deductions
This Q and A covers reporting duties for estate trustees on Form 1096 and 1099, extending filing to May 15. It explains whether brokerage commissions and stock differences are deductible, treatment of treasury stock, and rules on bond discount amortization, tentative returns, extensions for soldiers abroad, and limits on excessive profits tax for small corporations. It notes dividends on preferred stock are not deductible and outlines the reasonableness test for officer salaries.
MENTIONED IN THIS ARTICLE
Commissioner of Internal Revenué
Treasury
Treasury Stock
Dollar Men’s Dollar Tax Ruling Shifts War-Era Pay to Tax
Washington reports that the so called dollar-a-year men who aided the war effort are now subject to income tax if their total earnings exceed exemptions. Many had private income above 6000 dollars, making their dollar tax about 12 cents. Returns of information for foreign payments must be filed with the commissioner of internal revenue using Form 109 and 1096, with about 7.5 million information returns filed last year.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Bureau
Internal Revenue
Malley
Bureau of Internal Revenue
Treating Excess Compensation for Tax Deduction Rules
The text explains that payments for services must be actual compensation and not a hidden purchase price. Excess compensation may be treated as dividends or capital expenditures depending on the relationship to stock, ownership, or property. The classification differs for corporations versus individuals or partnerships and aims to tax excesses appropriately.
Information at source reporting under new revenue law
John F. Malley explains Washington information at source provisions requiring individuals trustees guardians corporations employers and partnerships to report names and addresses of all $1000 plus payments made in 1918. The return may include recipient marital status and aims to aid the Bureau of Internal Revenue in checks.
MENTIONED IN THIS ARTICLE
John F. Malley
Bureau of Internal Revenue
Talbott Fined $200 in Mailings Case
Joan Wi Talbott of South Bend Indiana president of the Order of Owls and secretary of the Game Bird Society was fined $200 and costs by Judge Anders of the United States District Court after pleading guilty to placing in the mails printed matter calculated to incite.
MENTIONED IN THIS ARTICLE
Indianapolis
Joan Wi Talbott
South Bend
Ind
Order of Owls
Game Bird Society
Anders
United States District Court
Indictment Tied to Wartime Owl Publication
An indictment references a 1917 Owl article that attacked New York State officials including George D. Pratt commissioner of game and fish. It alleges threats to hang Pratt and Alexander McDonald and to tar and feather August S. Houghton and Marshal McLean, with Legge to be hanged by a toe and sandpapered.
MENTIONED IN THIS ARTICLE
George D. Pratt
State of
New York
Pratt
Alexander McDonald
August S. Houghton
Marshal McLean
Llewellyn Legge
Americans Making Good At Sixty Five
Advert promotes GOLD MEDAL Haarlem Oil Capsules to keep kidneys and bladder healthy and spirits high for older adults. Claims quick elimination of toxins and uric acid, restoring vigor and mental sharpness. Sold by druggists in sealed packages with money back guarantee.
MENTIONED IN THIS ARTICLE
Haarlem
Sulpherb Tablets Promised to Relieve Chronic Constipation
A Philadelphia reader reports years of chronic constipation and systemic illness improved after using Sulpherb Tablets. The letter claims rapid relief and ongoing regularity, urging others to obtain the product from their druggist. It describes the tablets as containing sulphur cream of tartar and herbs.
MENTIONED IN THIS ARTICLE
John O’brien
15Th St
Philadelphia
How You Can Quickly Remove Hairy Growths
A beauty expert recommends a quick facial hair removal method using a paste of powdered delatone and water. Apply for about two minutes then rub off, rinse to remove all traces of hair. Ensure the delatone is genuine to avoid disappointment.
Thin People of Boston Bisp Enophate
A claim about Bisp Enophate promising a small steady daily gain of firm flesh and essential brain and nerve nourishment. It asserts Bitro-Phosphate replaces nerve waste and boosts strength and energy and is sold by Boston drug stores with a results guarantee or money back.
MENTIONED IN THIS ARTICLE
Boston Drug
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Jamerson
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Dexter
Winter St
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Stapelade
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