Word: refundability
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...move to refund money to former subscribers, officials of the now inactive Guardian announced that 60 cents of each dollar subscription would be returned to students who signed for the magazine in the past year...
Part of the tax-ranging from one-fourth for single persons to one-half for a married man with five children-is regarded as forced savings to be refunded after the war. But this "postwar" rebate can be used at any time to buy war bonds, pay off old debts or meet insurance premiums. The method: deduct it from income taxes due in March, 1944. Since most taxpayers are buying war bonds or paying for insurance, they can thus regard the post-war refund as an advance payment on next year's income...
...earnings and extra-fat current profits this means a real saving over the top 1942 rates. Furthermore, companies who figure their excess-profits tax exemption on average earnings in 1936-39 are given relief if one very bad year brings down the average. Finally, every corporation gets a refund after the war of 10% of its excess-profits tax payments...
Admittedly the 1942 Revenue Bill is not at all bad. It has commendable features such as the collection at the source of the "victory tax" and its refund provisions. But for the times it is dangerously inadequate. When the nation needed a fair, realistic tax bill Congress yielded but little. All the old jockeying and log-rolling accompanying any peace-time legislation were the tools that produced what was supposed to be a statesmanlike, toothy war bill. But undoubtedly in a few months it will have to be scrapped for a warlike measure...
...features in the current drive are the innovation that each House will sell two days out of every week, and cooperation by the H.A.A. which will refund over-payments for tickets in war instead of in postage stamps...