Show INCOME AND VICTORY TAX declarations guy T helvering commissioner of internal R revenue evenue recently announced that forms and printed instructions tor for the filing of estimated income and victory tax declarations on or before next september 15 as required by the new current tax payment act are now being distributed to individual taxpayers by the collectors of internal revenue filing of the declarations will be the second major step under the current tax payment act in con converting averting the federal individual income tax from the old delayed payment method to a pay as you rougo rou go basis the first step was wag the um inauguration july 1 I of the new withholding plan under which the victory tax normal income tax and first bracket surtax are paid by n millions lillions of persons through deductions from their theil wages and salaries the purpose of the declara tinos is to to make cur current ent in their tax payments all those individuals whose income and aad victory tax liability will not be fully covered by collections through withholding and other credits experts lEx of the bureau of internal revenue have greatly simplified tor for the average taxpayer tao payer the task of tiling ining the declarations A form and set of instructions for use in estimating the tax on incomes up to rival tor for simplicity revenue officials pointed out the familiar five income tax re return turre which made its Is debut in 1942 the campat computations and entries which this simplified dec declaration method requires should be matters of about five minutes for or a 91 large portion of the tso taxpayers payers by whom declarations win will have to be submitted the officials said for those these who desire to make a more precise computation or who have an income of more than detailed worksheets maybe may be se ae cured from the collector upon request persons required to file the declarations are generally L 1 the recipients this year or last year of gross incomes from wages subject to withholding in aaers of 2 2700 goo for single persons or gr for mai married ried couples 2 those who have incomes this year or had incomes last year requiring the filing vt of a 0 return with more than loo of these incomes derived from sources other than wages subject to withholding 3 those required to file an income tax return tn cn 1942 incomes and whose wages subject to withholding for 1943 are reasonably to be less than their similar wages for 1842 1942 where the declarations show an estimated tax liability for 1943 in excess of credits halt of the excess is to be sent to the collector of internal revenue along with the declaration and the other halt half remitted on or before december 15 credits to be taken on the declaration include withholdings and aad the ithe payments it if any made to collectors on march 15 and june 15 this year on oil account of 1942 income taxes the those if any made by employers of the victory tax ifor for the first half of the tha continued on last page |