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February 3, 1951

ORGANIZATION SECTION

JAMA. 1951;145(5):323-330. doi:10.1001/jama.1951.02920230047017
Abstract

THE PHYSICIAN'S FEDERAL INCOME TAX  Federal income taxpayers on a calendar year basis must on or before March 15 do two things: 1. They must file their final returns for the year 1950. 2. They must file a declaration of estimated tax for 1951.Normal and surtax rates applicable to 1950 income were not changed by the Revenue Act of 1950. The net effect of the provisions of that act, however, will be that taxpayers will be required to pay a higher tax than was required the previous year. This result follows the reduction of the percentage amount by which the tentative tax may be reduced. That amount is about one-fourth less than it was prior to the enactment of the new act.Copies of appropriate forms have already been distributed to prior taxpayers, together with a small booklet which presents the general requirements of the law. Physicians who are

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