Global and domestic events flash in 1914 era notes
Washington announces income tax at source regulations to begin next Saturday. The government signals that interference in Mexican affairs will be deemed unfriendly. Vanderlip proposes a government controlled central bank with 12 regional branches. Wilson proclaims Thanksgiving Day for November 27. Multiple international developments follow including naval movements, strikes, and political shifts across the United States Europe and the Caribbean.
MENTIONED IN THIS ARTICLE
Treasury Department
Washington
United States
Frank A. Vanderlip
National City Bank of New York
Senate
Treasury Announces Source Withholding Income Tax Rules
The Treasury outlines regulations for the 1 percent normal tax to be withheld at the source starting November 1 1913. Debtors or paying agents must withhold tax on interest and coupon payments, require ownership certificates, designate fiscal agents, and license foreign collection activities. Penalties include fines up to 5000 dollars and possible imprisonment for false statements.
MENTIONED IN THIS ARTICLE
Washington
Treasury Department
United States
Internal Revenue
Commissioner of Internal Revenue
Collectors of
Shell
Cab
W. H. Osborn
W.G. Madoo
Secretary of the Treasury
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William Sulzer
New York City
Sul‘ter
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The
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R. I
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Elizabeth Wood
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Cal
Leonard Wood
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Funkhouser
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