Page:United States Statutes at Large Volume 49 Part 1.djvu/681

 636 Chairman. Dutie s. Expenses. Appointment and compensation of pe r- sonnel. Reports. Ti tle VIII-Taxes with respect to employ- ment. Income tax on em- ploy ees. Rates. Deduction of tax from wages. Collection by em- plo yer. Liability for. Adjustments. 74Tii CONGRESS. SESS. I. CIT. 531 . AUGUST 14, 1935. of six years, after th e date of the enactment o f this Act. The Presi- dent shall designate one of the members as the chairman of the Board. DUTIES OF SOCIAL SECU RITY BOARD SEC. 702. The Board shall perform the duties imposed upon it by this Act and shall also have the duty of studying and making recommendations as to the most effective methods of providing eco- nomic security through social insurance, and as to legislation and matters of administrative policy concerning old-age pensions, unem- ployment compensation, accident compensation, and related subjects. EXPENSES OF THE BOARD SEC. 703. The Board is authorized to appoint and fix the compen- sation of such officers and employees, and to make such expenditures, as ma y be ne cessary for car rying ou t its f unctions under this Act. Appointments of attorneys and experts may be made without regard to the civil-service laws. RE POR TS SEC. 704 . The Board shall make a full report to Congress, at the beginning of each regular session, of the administration of the functions with which it is charged. TITLE VIII-TAXES WITH RESPECT TO EMP LOYMENT INCOME TAX ON EMPLOYEES SECTION 801 . In addition to other taxes, there shall be levied, collected, and paid upon the income of every individual a tax equal to the following percentages of the wages (as defined in section 811) received by him after December 31, 1936, with respect to employ- ment (as defined in section 811) after such date (1) With respect to employment during the calendar years 1937, 1938, and 1939, the rate shall be 1 per centum. (2) With respect to employment during the calendar years 1940, 1941, and 1942, the rate shall be 1 1/2 per centum. (3) With respect to employment during the calendar years 1943, 1944, and 1945, the rate shall be 2 per centum. (4) With respect to employment during the calendar years 1946, 1947, and 1948, the rate shall be 21/2 per centum. (5) With respect to employment after December 31, 1948, the rate shall be 3 per centum. DEDUCTION OF TAX FROM WA GES SEC. 802 . (a) The tax imposed by section 801 shall be collected by the employer of the taxpayer, by deducting the amount of the tax from the wages as an d when paid. Every employer required so to deduct the tax is hereby made liable for the payment of such tax, and is here by indem nified against the cla ims and demands of any person for the amount of any such payment made by such employer. (b) If more or less than the correct amount of tax imposed by sec- tion 801 is paid with respect to any wage payment, then, under regula- tions made under this title, proper adjustments, with respect both to the tax and the amou nt to be deducted, sh all be made, without i nterest, in con nection with su bsequent wage p ayments to the same individual by the same employer.