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Show FEAR NO INCOME TAX LEAKS, SAYS COUNSELOR OF RICH jT QPftiHny mt Secretary McAdoo and Levy Mayer. Only disappointment is in store for the tax assessor who tries to get the income tax returns to the government govern-ment for his purposes, disappointments disappoint-ments and heavy penalties for those who divulge these interesting facts. What is more, the penalties prescribed pre-scribed by the income tax law are going to be adequate protection to the tig tax payer who is worrying over what the assessor may do to him. The intricacies of the Income tax law which have been causing no end of bother to national banks, some law suits and great anxiety, have become the subject of high priced legal opinions, the most important of which was contained in a souvenir pamnhlet issued by a bankinc house, S. W. Straus & Co., of Chicago, containing an analysis by the law firm of which Levy Mayer is the head. He confirmed the assurance of the commissioner of internal revenue of the Chicago district that the income tax filea are not likcry t be tampered with. The commissioner said: "Schedules of the individuals makinp return are not open to public inspection, and even corporations, joint stock companies, com-panies, or associations, and insurance companies mav submit schedules with full knowledge that inspection of them will be permitted only by (order of the president." The pamphlet based on 1he Levy I Mayer opinion and that of two other jlaw firms adds: "Heavy penalties jare placed on government employes Iwho divulge information as to the I return of anv taxpayer or its items lor details. The act forbids the treasury treas-ury officers to let any one see or (examine any returns or any copy , thereof, or any book or abstract containing con-taining particular thereof The law provides a penalty up to $1,000 and 'imprisonment for one vear or both for printing or publishing in any manner not provided by law any in-Icome in-Icome return or part thereof." |