Show LIKEl LIKELY V TO ASI AS FOR OF INCOME TI TIES TAXES ES Plan Calls Cans for Raising Exemption to Q 2000 for Single Men and for Married By fly y It If lUEN X ot oC hc Ix ird r Copyright 1923 1523 w o GLON rON April 14 s- s Ident harding probably will Ill III ash I congress at its not next session to r d tho Income tai I 11 his that the treasury will thu this icar ear In t taxes ts more nore than had been n has placed the tho 1 be- be before fore foro oro him In th a decidedly different what hat If IC stood stool In when wh n light Irom available avail was spent be- be before before very cry cry dollar fore It came clIno into the tIlL Sax a hands To Io t the president and hs h's b advisers in theIr study ot of the i in- in income eom come tax with v Ith a view dew V tn lowering the levI lew It If po Secretary plans lans the creation or o f a ta tax 1 IOn I on-l on on d c to 10 be bo composed o or of six sl morn morn- three of ot whom thorn hom lalI be bo em- em emp l- l p 0 oes es or of the treasury department dOd ind three specialists n nt n it t in iTt th thi gO service Mr Ir Mellon s plans already have haC gotten Along alone to o the point where hero here ho he Is almost ready roady to 10 announce ann unee the tho selection o of th the it treasur s 's es ot or th board l J 1 wo Wa of o the three Uree men under tinder con con- con for appointment to th board aie e slid S Lid to be bc James A ABright Bright assistant deputy debuty commis- commis stoner blOner or of o Internal rc re in char charge c cof or of the tho Income tIt unit pad Ind i nd A W Gregg In the of office rice of the solicitor of lof the bureau of Internal re Doth Both are ire specialists lIncome ln In Income tax ta administration rho function of the he board asi as It 1 1 b by Mr Mellon Ii to study the operation of ot the pres- pres present ent revenue re laIth la law la with lilt Ith a view view-to lew to su- su sur- sur sueL getting advantageous amendments fhe rhe bu of the board wl VII vI I Ibe be ba placed before Secretary nd In all likelihood the president for tor er guidance hI he desire In dealing with tax 11 In his message to congress But hut whether the president au- au au- au pests that the tho Income ta ta rato nato be 10 or not not the tho nev ney ne h F planning Janning to make es ti one U itI main themOS of debate anil I a ac action tion-ith tion tion with Ith I lowered ered rates regarded UI I 15 more moro of a probability than a possibility Congress probably will lo cr the rates or Increase the o e emption in the returns return Most of the talk now In tax cir cm- circles circles des cles Is that the exemption will e raised above the 1000 and 2 figures which now apply In the case of or married men with amill In- In Incomes incomes incomes comes an exemption of 2500 Is granted ranted under the present law there is talk of now raising the cx- cx emption to 2000 for tor single men menan an and women and for married marrio men Should this be bo done dono Income tat taI atlon would j be lowered almost to Co c the vanishing point for about fise fhe million persons per ons who at presen come under unde the net Income limit The reduction would auld bo be fet nil all along the line In the S grades asell as well ell ell Thus a married man pan lan paying taxes tues on net income of at the tho th present time would pa pay 10 less loss with Ith an additIonal I 1000 exemption n and the tho married man taxes t ues on more thaI net Income would pay 31 3 a less PS Adoption of this plan as a well as other proposals proposal depends largely upon up- up upon upon on the report of the tha specialists whO III IlI determine with Ith the aid of the government actuary actual what hat the tho raising of the exemption would upon the tha treasury i If the 1000 in exemption will cost the treasur treasury oer year more than the tho windfall expected by MJ MeIon lon ion another method probably n be adopted The White has made It plain to callers that it prefers a ta ta reduction it If there Is to toVe tobe Ve be any le i at all which would apply all n aJon along alone the line to tc reduction it 1 In surtax rites as liS pro pro- proposed two tao t 0 years yea ago ngo and recently lead ocate by Secretary Mellon It H seems tin cert that Mr Mellons Mellon's plan will not be adopted either Oither h b bi the administration or congro d without considerable modification or Of 0 decided concern to businesS Interests is the proposal l gaining ga con con erts erts l almost mO t daily dally of tho su- su called progressive bloc to restore the excess profits tax on cOrPOra corpor corpora corpora- corporations lions Arnon Amon the dozens of pro pro- posed amendments to tho the Income incon taC tai law which are aro certain to come before congress none nono seems to have suited such rO rosy Y prospects as th thi tl- tl restoration of ot the profits ta Officials at the treasury look tot fOI this tax to come corne back on the books bool after considerable debate on Capi- Capi CapitAL tal hilt Hill at tIe tIo next neat session and they couple with it the expectation that thero there will ill bo be a substantial low low- lowering lov erins ering of or the tax burden now V borni borr by hy the tha small taxpayer the struT struT- gling merchant the lonal man and the man or woman on n wages or salar salary There are inert morL than six sh millions pa paling Ing taxes on onnet onnet net income of less than 1000 a car J their heir pa monts probably 10 not ilot aggregate more than I a ii ye-ir ye it If Indeed they amount I t to so much The first ta tax reduction advocated in this year before the nation 11 elections is expected to be n II reduction reduction tion that will ill apply to these six sl million taxpayers payers on 0 |