Evening Star Newspaper, November 15, 1936, Page 17

- “11S. PROFI SEEN IN SECURITY TAX Much of Jobless Insurance _Levy to Go Into General - Treasury Fund. i the Associated Fress. A “profit” of $100,000,000 or more may be realized Dy the Treasury this fiscal year, officials said yesterday, from the unemployment insurance tax under the social security act. The law provides that proceeds of the tax from States which have failed to enact unemployment insurance Iaws in connection with the social se- eurity program go into the Treasury's general funds and may be used toward balancing the budget. Under the act, unemployment taxes are levied on all employers of eight or more persons, starting at 1 per cent of this year's pay rolls and gradually in- ereasing to 3 per cent by 1938. Unless the deadline is extended the taxes wiil be due next January 31 on 1936 pay rolls. 14 States Have Approved Laws. ‘The amount ‘the Treasury receives ‘will depend upon the number of States which have unemployment compensa- tion laws approved by the Social Se~ curity Board. In those States which have approved laws—14 at present—employers are en- titled to a credit of up to 90 per cent of the Federal tax for payments made into a State unemployment insurance fund. From all States which do not have approved laws the Internal Revenue Bureau will collect the full Federal tax, receipts going into the Treasury's - Beneral cash accounts, Although emphasizing that no ac- curate forecast of the Government's share of these taxes can be made, Treasury officials estimated it may run “over $100.000,000 this fiscal year. This guess, they said, was based on esti- “mates that if no States had approved laws the Government would receive . about $228,000,000, Officials pointed out that New York 1 one of the 14 States with approved laws, eliminating up to 90 per cent of Holiday in the air again! Y ‘the Federal tax on its Buge pay rolls. Under-the social security ticipating States must now totals $26,198,000. The Secretary of the Treasury may invest such part of this fund as he deems is not necessary to meet cur- rent withdrawals in Government se- curities. States may make withdraw- als for compensation payments and administration expenses. The unemployment taxes are levied only on empleyers. Old-age levies, also contained in the security law, take effect January 1, and are borne both by the employers and the em- ployes. Receipts from this tax go into a reserve fund for pensions to re- tired- workers. Tax Deductions Disallowed. ) "A. B. Niess, acting head of the sacial security division, income tax unit, Internal Revenue Bureau, said yesterday deductions from the Federal unemployment tax will not be allowed this January by the Treasury except for payments made to State funds on 1936 pay rolls. Such payments must have been made by January 31, if the taxpayer is to claim a deduction from the Federal Treasury under ordinary cir- cumstances. However, if the State law is approved and put into effect too late for the taxpayer to make his State contribution by January 31, Niess sald, the taxpayer may apply to the Collector of Internal Revenue in his district for an extension of time not to exceed 60 days. If the request is granted, and if he makes a contribution to a State un- the additional 60 days of grace, and | then he will be permitted to deduct | the amount of such payment from his 1936 Federal tax payment. Much Red Tape Involved. Extensions of time will also be al- | lowed for other causes found to be sufficient by the district eollector of internal revgnue. In the event of de- linquency, however, when no extensien has been granted, the taxpayer may deduct only such amounts as he may have paid into a State fund prior to | the Federal due dates, January 31. Before any deduction may be | claimed, Niess explained, a State law must have been put into effect, ap- employment insurance fund within | | the contribution is for 1936 pay rolls, | THE SUNDAY STAR, WASHINGTON, D. Treasury not later than December 31 of the taxable year. Also, before a deduction will be al- lowed, the State must have certified to the Treasury the payments it has. received under its State plan, SOLO FLIGHT TO BRAZIL WILL BEGIN TODAY New York Aviator Will Go to Miami Non-Stop on First Leg of Trip. 1 the Associated Press. NEW YORK, November 1l4.—Joe Costa, young ayiator. of Corning, N. MODERNIZE YOUR HEATING WITH A CAMEL OIL BURNER Special Offer ’Til Xmas WE ARE OFFERING ONLY 50 OF THESE AT THIS LOW PRICE UNTIL CHRISTMAS. YOU CAN SAVE MONEY BY BUYING NOW. sofs Now 3265 Completely Installed Aims of Education. Dr. Milda Threlkeld, dean of women at the University of Loulsville, says “preparation for and adjustments to & vocation are fundamental sims of education.” NO PAYMENT TILL JAN. LOW INTEREST CHARGES PAY ON ELECTRIC BILL ECONOMY HEATING CO. 906 10th St. N.W. MET. 2132 ou’ll want to prepare your home for the festive occasions—for out-of-town visitors and guests. Cohen’s offers the right touch for any home—the correct picture or mirror, the finest in Washington at the lowest prices. SHOP NOW AND SAVE NOW! | MADE TO ORDER OR a Frame to suit your favorite picture— to add charm to your room and keep in tune with today, trust Cohen’s vast experience in correct framing. While our factory is the most modern and has the largest force, we were compelled to turn down a number of “last minute” orders last year. Bring yours in TODAY and be aossured of delivery in time, the most suitable frame and, as always, our LOWEST- IN-THE-CITY PRICES. A special purchase 24-inch circular mirror of famous EVALAST make. Guaranteed not to streak or spoil. Fifteen differently styled frames to choose from. A Cohen “protected” value at the below-market price of— $6.45 In this department we are displaying o variety of frames that ere “the last word” in color and design. All at a greet savings. Priced from $3.50 to $69.50 Your Nemq DISTINCTIVE GIFTS THAT 1227 @ STREET NW. C., NOVEMBER 15, 1936_PART ONE. ot ims x5 OPEN-EVERY NIGHT & mromene Moses' 76th Anniversary FINE FURNITURE i 20% v 0% siscouns A Store-Wide Event—Every Department Included EAUTIFUL Furniture for every room! Compare the quality, the construction, the woods employed, the fabrics used, the prices . . . and you, too, will select your fur- niture gt Moses’ now. THIS event was planned to provide the most thrilling values in fine furniture that we have offered in all our 76 years. The crowds that are purchasing during this sale testify to our success. Duncan Phyfe Dining Room Suite Ten Lovely Pieces in Genuine Honduras Mahogany 5239 A suite that will breathe the spirit of gracious hospitality in your dining room on Thanksgiving and all the holidays to come. The 66-inch buffet with velvet-lined silver compartment and two deep drawers, has spacious cabinet sides. The flip-top console serving table with brass ferrel-tipped feet and the double pedestal extension table provide ample space for serving and dining. Your choice of corner or regular style semi-enclosed china cabinet with cabinet base. Five side chairs and an armchair with seats of sagless construction covered in blue hair cloth complete the ten pieces. Regularly $349 $175 Dining Room $340 Dining Room $149 6-Pc. Dinette Suites, $99 $37.50 5-Pc. Dinette Suites, $29.50 $480 Dining Room Suites, $339 $299 Dining Room Suites, $189 Suites, $129 Suites, $229 $335 Dining Room $365 Dining Room Suites, $219 Suites, $249 A Few of Hundreds of Other Values: $149 Living Room $7.50 Boudoir Chairs $55 Secretaries $79.50 Buffets Suites, $109 $4.95 $34.75 * TTs950- __ $195 Living Room Colonial Rocking $54 Colonial Vanities $13.50 Colonial Con- Suites, $139 $32Cho:cirs, $19.75 $29.75 vex Mirrors, $7.95 $135 Living Room $13.50 Dining Chairs $60 Dressers with $12 Coffee Tables Suites, $89 $7.95 hanging mirrors $4.95 $30 Easy Chairs $55 Barrel-Back . $11.50 Book Shelves $19.75 Chairs, $39.50 W Coppit e $5.75 $26 Knee-Hole Desks $45 Pillow-Back B $15 Sewing Stands $17.75 Chairs, $29.50 széfi,,,‘,"g“f;’"' $6.95 $45 Knee-Hole Desks $28.50 Lounge $149 Bed Room $39.50 Inner-Spring $24.95 Chairs, $19. Suites, $109 Mattresses, $26.85 : X -Back 135 Bed R $19.75 laner-Spring » Ensg‘;l'; e SAlngOCk:?:'o r57?2‘:5 3 S-saire:, ss? e Mattresses, $14.95 $49.50 Chaise Occasional b Longues, $32.50 $43 Dining Tables ‘$30 Chairs, $17.75 $12 Coil Springs $7.95 Our Budget Plan-Take 12 Months to Pay When Purchased on Our 12-Month Budget Plan, a Small Carrying €harge Is Added .. Yloses & Co. - No Traffic Delays Use Plesy of Parking Spece - 804 Rhode Island Ave. N.E. |2