TAXATION: Refunds

The Treasury Department report-ed that, without the filing of claims, 1,723,000 refunds, totaling $12,989,000, have been made to those who paid their full income tax on Mar. 15 and subsequently became entitled to a 25% reduction. As Government efficiency goes, this is a good record.

The only point of the refunding procedure which seems to be involved in red tape is in securing credit and refunds for a 25% deduction on taxes "paid at source." To secure this deduction, one must massage the tax machinery.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!