Do You Pay Excess Profits Duty

Author : United States; Internal Revenue Service
Publisher : Forgotten Books
ISBN 13 : 9781330297094
Total Pages : 20 pages
Book Rating : 4.2/5 (97 download)

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Download or read book Excess Profits Tax Primer written by United States; Internal Revenue Service and published by Forgotten Books. This book was released on 2015-06-14 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Excess Profits Tax Primer To the Taxpayer: The great body of patriotic taxpayers are anxious to pay their taxes and thus fulfill their whole financial duty to the Government. This department is equally anxious to help them fulfill that duty without prejudicing their own interests or paying a larger tax than under the law they are called upon to pay. To attain this end, cooperation along the following lines is necessary: 1. File your return promptly. You have until April 1 to do this, but you will greatly assist the Government by filing your return now. This will be to your own advantage, for, if you have any problem that requires special attention, the sooner your return is in the earlier will your case be reached and decided. 2. Secure from your collector the proper return form and read carefully the instructions and questions printed thereon. Get at the same time a copy of Regulations No. 41 and use the index. When in doubt on any point, consult your collector or revenue agent, or your banker. If still in doubt, answer each question as you understand it and send with your return a statement of the questions about which you are uncertain. A decision can then be made at Washington, where the administrative authorities are as anxious to protect your interests as to obtain the revenue. In this way you will be protected against penalties. 3. If you can not determine your invested capital, or if for any other reason you believe yourself entitled to make claim for assessment under section 210 (art. 52 of the regulations), make out your return as best you can from the information at hand and file with it a full explanation of the facts, showing wherein information for making out a complete return is lacking, or why you think you are entitled to assessment under section 210. 4. If you are able to compute the amount of your excess-profits tax, you may pay the tax at the time you file your return. By so doing you will reduce the great rush in the payment of taxes in June. If you pay the tax in advance, you may deduct from the amount of the tax due a sum equal to 3 per cent per annum calculated from the date of payment to June 15, 1918. Taxes may also be paid in installments, provided the installments do not extend beyond June 15. Your collector will explain how this may be done. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.