Salt Lake Telegram | 1933-02-18 | Page 3 | New Tax Rates Boost Revenue

NEW TAX RATES BOOSTREVENUE WASHINGTON. Feb. IS (CTS) Th tint 1933 Income taxes paid under un-der the new and higher rate of the tax bill passed at the last session of congress are coming into the treasury treas-ury and have caused a $3,000,000 increase in-crease in the federal government's February Income tax collections. Not actually due until March 18, enough of the new taxes had come into the treasury by February IS to raise the income tax receipts for the first two weeks of the month to $11,-748,722, $11,-748,722, compared with S8.724.939 for the same period last year, the treasury treas-ury announced today. Before the fiscal fis-cal year is over, the government hopes A to get approximately 4 90,000,000 ' more from income taxes. Small income taxpayers filing their returns and making their payments in January and February are responsible respon-sible for the collections now coming in, it was explained at the bureau of , Internal revenue. By March IS all returns must be In and at least the first quarterly instalment of the tax paid. While Income tax receipts were moving upward in the opening weeks of the month, miscellaneous internal revenue collections, including those from the new excise taxes levied last yesr, also began to rise. Approxi-" Approxi-" mately $42,618,000 had come into the treasury from this source between February 1 and IS, an increase of 11.-TS3.1S0 11.-TS3.1S0 over the collections for the same period of January.