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Topic: Current Tax Payment Act of 1943

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	Randolph Paul Speech on Current Tax Payment Act of 1943 (cont.)
		In cases where the 1943 tax liability exceeds the 1942 tax liability 25 percent of the 1942 liability is added as a part of the tax for 1943.
		Where, however, the 1942 tax liability exceeds the 1943 tax liability, the excess of 1942 liability is added to and becomes a part of the tax for 1943 and a part of the estimated tax which must be paid currently during 1943.
		I have spoken of 75 percent forgiveness of tax for the lower of 1942 or 1943.
	www.taxhistory.org /civilization/Documents/Withholding/hst29051/29051-2.htm (1609 words)

	Randolph Paul Speech on Current Tax Payment Act of 1943
		Second, there is the part of the Act which deals with the permanent system of current payment of income tax liabilities not collected by the withholding process Third, there are the provisions applicable only to this year and necessary to achieve the transition from the delayed payment to the current payment system.
		Because the current credit available through debt repayment, payment of insurance premiums, and bond purchases will be claimed by most taxpayers, it seemed wiser to reduce the rate of victory tax withholding to 3 percent which will more nearly approximate the actual tax liability of these persons.
		The law provides that, whenever an amended declaration is filed, the quarterly payment of estimated tax which accompanies the amended declaration and any subsequent payments not yet due shall be adjusted in amount to reflect the change in the amount of estimated tax.
	www.taxhistory.org /Civilization/Documents/Withholding/hst29051/29051-1.htm (3121 words)

	Chapter II.B.4 (Site not responding. Last check: 2007-10-11)
		Tax rates under the Act were graduated by source of income and residence of the taxpayer--three percent of income over $800 for United States residents and five percent for citizens living abroad, subject to a limit of one and one-half percent on income from Government securities.
		This "formal" tax advantage, reflecting the narrow range of tax characteristics deemed relevant for purposes of the computation, is in practice quantified using the following simplifying assumptions: basic pay is a member's sole source of taxable income; the member takes the "standard" deduction on his or her tax return, i.e.
		Tax laws before 1916 did require withholding-at-source; however, unlike the modern system with periodic withholding based on an assumed constant level of income throughout the year, withholding under the old laws occurred only when an individual had income in excess of the exempt amount specified in the tax law.
	www.defenselink.mil /prhome/N2B4.html (5417 words)

	tired of withholding - be careful (Site not responding. Last check: 2007-10-11)
		Tax rates were increased sharply, and millions of Americans previously exempt from taxation now found themselves ensnared in the government's tax net.
		Taxpayers were rightly concerned that initially they would have to pay their taxes twice: once in a lump sum for the previous year and again in the form of withholding for the current year.
		The biggest way in which taxes are raised by withholding is that the government gets the use of a taxpayer's money long before his tax liability is due.
	www.taxsos.com /wearyofwithholding.htm (1149 words)

	[No title]
		The jurisdiction of this Court is invoked under 28 U.S.C. Whether petitioner's conviction for attempted tax evasion, which was based in part on his filing of false employee withholding allowance certificates, was foreclosed by the misdemeanor provision specifically addressed to the filing of false withholding information.
		A1-A2), established that petitioner sought to evade taxes by, inter alia, supplying false and fraudulent employee withholding allowance certificates to his employer, failing to file tax returns, and failing to pay taxes that were due and owing.
		The elements of willfully attempting to evade or defeat a tax are (1) the existence of a tax deficiency, (2) an affirmative act constituting an evasion or attempted evasion of the tax, and (3) willfulness.
	www.usdoj.gov /osg/briefs/1986/sg860402.txt (2234 words)

	[No title]
		Instead Congress lowered the taxes due from 1942 income, based upon the 1941 schedules, and implemented the "withholding at the source on wages and salaries" provisions for the collection of taxes on current income (based upon gross receipts, or income under the new terminology).
		In addition, the provision for filing and paying estimated taxes was developed to facilitate the collection of current taxes from those acquiring their income through the operation of business and financial transactions (based upon net-income, or income under the old terminology).
		In other words, the Victory tax is where the value of the "personal exemption" changed from an amount adequate to cover the "personal living and family expenses" of the majority of the population, to an amount that barely covered the yearly cost of food.
	www.taxhistory.com /1943.html (658 words)

	While Progress Toward Earlier Intervention With Delinquent Taxpayers Has Been Made, Action Is Needed to Prevent ...
		The estimated tax penalty is based on the Federal Government short-term interest rate, which is at its lowest level in 45 years, and may not provide a sufficient deterrent to noncompliance with estimated tax payment requirements.
		The estimated tax penalty is computed by applying an underpayment rate to the amount of the underpayment for the period of the underpayment.
		The significant noncompliance in making quarterly estimated tax payments on nonwage income, evidenced by the millions of estimated tax penalties assessed by the IRS each year and the amount of unpaid taxes that requires costly collection action by the IRS, demonstrates that the current system is not adequately serving taxpayers or the IRS.
	www.ustreas.gov /tigta/auditreports/2004reports/200430040fr.html (8485 words)

	The Curse of the Withholding Tax - Mises Institute
		However, their tax liability would still be $1,934—an amount that the typical American does not have in his checking account.
		The tax was to be collected by the employer and deducted from the employee's paycheck—just like the Social Security tax that began in 1935.
		The curse of the withholding tax is that it allows the government to commit this crime systematically, effortlessly, painlessly, and benevolently.
	www.mises.org /story/1797 (1317 words)

	EVOLUTION OF FEDERAL INCOME TAX WITHHOLDING: THE MACHINERY OF INSTITUTIONAL CHANGE (Site not responding. Last check: 2007-10-11)
		Wherever an income tax has been in practice for any time the small incomes as well as the large are taxed; and it is the small incomes which yield the largest revenue to the state.
		The second is that the tax ``cancellation'' involved was a sham and was understood to be a sham by a significant number of government officials involved in its passage.
		Since the withheld tax on interest paid on a typical savings account averages less than one percent of asset value over the course of the year, at worst the `loss' of interest on the withheld tax would be less than one-tenth of one percent of asset value.
	www.freerepublic.com /focus/news/785510/posts (10935 words)

	CaliforniaRepublic.org
		However, expecting politicians to continue to seek lower tax rates, or to at least not raise rates when things are tight, is a bit of a stretch.
		One answer is that there is little to no accountability for elected officials either to avoid raising taxes or to block increased spending, which is then used as an excuse to increase taxes.
		President Franklin Roosevelt signed withholding into law with the Current Tax Payment Act in 1943, compelling employers to withhold federal taxes from the paychecks of employees and to pay those taxes directly to the government on the behalf of workers.
	www.theonerepublic.com /archives/Columns/Field/20031003FieldCueCalif.html (729 words)

	Happy Chump Tax Day, Chump!
		While the income tax was introduced the Civil War not withstanding in 1913, the rates ranged from 1-7% and to qualify for the top rate, you would have to earn the equivalent of $5 million in todays dollars.
		Our conditioning began in earnest with the Current Tax Payment Act of 1943 where members of Congress openly talked of revenues that needed to be "fried out of taxpayers" which created broad tax withholding from wages and made it the law of the land.
		So its another tax day, another year of the on-going hoax that funding the government also requires that we obediently report every detail of our financial lives to a government clerk and that government should get their cut before it even passes through our fingers.
	www.i2i.org /main/article.php?article_id=194 (826 words)

	The Unrepentant Individual (Site not responding. Last check: 2007-10-11)
		A woman named Vivien Kellems, shortly after the Current Tax Payment Act of 1943, decided to offer withholding as a test case for the Supreme Court.
		But if she agreed to be an unpaid tax collector for the government, she knew that she would be submitting to involuntary servitude, which is forbidden by the Constitution.
		I personally believe that if people saw their tax liability at the end of the year as a payment rather than a "refund", they would take a much different view of tax rates.
	www.unrepentantindividual.com /old/2005/02/end-withholding.html (602 words)

	Down with the Withholding Tax
		Obviously, it is less painful to have $107.33 taken out of one’s check every week for 52 weeks than writing a check to the government for that amount every week or a check for the whole amount once a year.
		Surprisingly, it was a free-market economist who helped the federal government implement the withholding tax in the first place.
		And second, many out of this majority are not only not taxpayers, they are taxeaters who benefit from the redistribution of the wealth of those who actually pay taxes.
	www.mises.org /freemarket_detail.asp?control=542&sortorder=articledate (1244 words)

	[No title]
		Under this provision an amount paid as tax shall not be considered not to constitute an overpayment solely because there was no tax liability in respect of which that amount was paid.
		This change began in 1940 with a shuffle in the wording of section 51 of the 1939 Tax Code and ended in 1944 with the creation of section 22(n) "adjusted gross income".
		The purpose of this web-site is not to cast stones or encourage outrage against the "system", but to show that the change occurred in a natural progression in reaction to the economic and political climate of the times.
	www.taxhistory.com (624 words)

	revrul63-26 (Site not responding. Last check: 2007-10-11)
		The legislative history of section 6073(b) of the Code indicates that this interpretation would carry out the purpose of Congress in allowing the privilege of a later filing date for farmers.
		Section 60(a) of the Internal Revenue Code of 1939 (the predecessor of section 6073(b) of the 1954 Code) was added by section 5(a) of the Current Tax Payment Act of 1943.
		Section 1202 of the Code provides (in pertinent part) that, if for any taxable year the net long-term capital gain exceeds the net short-term capital loss, 50 percent of the amount of such excess shall be a deduction from gross income.
	www.taxlinks.com /rulings/1963/revrul63-26.htm (259 words)

	EVOLUTION OF FEDERAL INCOME TAX WITHHOLDING [Free Republic]
		Taxes have an innate charm that turns legislators onto a trap of their own lies.
		The income tax is not designed just to raise taxes, which could be accomplished very easily with a national sales tax.
		It took the bankruptcy administrators 5 years after the 1938 bankruptcy of the sovereign states to set up the artifice of resident jurisdictions where they could mandatorily as well as legally tax unvigilant citizens of the United States, that were previously not resident in their jurisdiction, on their personal labor.
	www.freerepublic.com /forum/a3a8b0c663f6c.htm (13706 words)

	Footnotes
		A corporation’s deposit schedule is determined from the total taxes reported on Form 941 (Employer’s Quarterly Federal Tax Return) in a four-quarter lookback period.
		[11] . The IRS usually characterizes the statute as an "alternate collection device" for the unpaid taxes rather than as a "penalty." When a statute is termed a "penalty," however, the IRS imparts an intent close to the "willfulness" prong that resembles the level of intent in Cheek v.
		If any understatement of tax liability is due to negligence or intentional disregard of the rules, the tax return preparer shall be fined $250.
	www-rcf.usc.edu /~usclrev/html_articles/074404/lawreview_footnotes.htm (793 words)

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