Evening Republican, Volume 21, Number 131, Rensselaer, Jasper County, 11 June 1918 — BILLIONS DUE IN FEDERAL TAXES [ARTICLE]

BILLIONS DUE IN FEDERAL TAXES

NEXT SATURDAY NIGHT MARKS CLOSE OF LARGEST TAX PAYMENT IN HISTORY. Washington, June 10.—The biggest outpouring of federal taxes in the history of the nation will occur this week. More than two billion dollars in income and excess profits taxes from individual and corporations is due by next Saturday, night, in addition to the half billion which already has been paid in this year. Total receipts from these sources are expected to be about $2,775,000.000. More than 6,000,000 seperate .payments of income taxes are to be made and in addition hundreds of thousands of excess profits tax payments. Approximately three-fourths of the total tax will come from corporations, and about one-fourth from individuals. Millions of persons will pay income tax for the first time.