Page:United States Statutes at Large Volume 58 Part 1.djvu/251

 58 STAT.] 78TH CONG. , 2n SESS.-CHS. 209, 210 -MAY 27, 29, 1944 or compensation upon the filing by such person with the department by which such retired pay is paid of a waiver of so much of his retired pay and allowances as is equal in amount to such pension or compen- sation. To prevent duplication of payments, the department with which any such waiver is filed shall notify the Veterans' Administra- tion of the receipt of such waiver, the amount waived, and the effec- tive date of the reduction in retired pay. Approved May 27, 1944. [CHAPTER 210] AN ACT To provide for simplification of the individual income tax. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) SHORT Trru--This Act may be cited as the "Individual Income Tax Act of 1944". (b) Acr AMENDATORY OF INTERNAL REVENUE CODE. -Except as otherwise expressly provided, wherever in this Act an amendment is expressed in terms of an amendment to a chapter, subchapter, title, supplement, section, subsection, subdivision, paragraph, subpara- graph, or clause, the reference shall be considered to be made to a provision of the Internal Revenue Code. (c) MEANING OF TERMS UsED. - Except as otherwise expressly pro- vided, terms used in this Act shall have the same meaning as when used in the Internal Revenue Code. Part I-Amendments to Chapter 1 of the Internal Revenue Code SEC. 2 TAXABLE YEARS TO WHICH APPLICABLE. Except as otherwise expressly provided, the amendments made by this part shall be applicable with respect to taxable years beginning after December 31, 1943. SEC. 3. NORMAL TAX ON INDIVIDUALS. Section 11 (relating to the normal tax on individuals) is amended to read as follows: "SEC. 11 . NORMAL TAX ON INDIVIDUALS. "There shall be levied, collected, and paid for each taxable year upon the net income of every individual a normal tax of 8 per centum of the amount of the net income in excess of the credits against net income provided in section 25 (a). For alternative tax which may be elected if adjusted gross income is less than $5,000, see Supple- ment T." SEC. 4 . SURTAX ON INDIVIDUALS. (a) IMPOSTION OF TAx.-Section 12 (b) (relating to the surtax on individuals) is amended to read as follows: "(b) RATES OF SURTAX. -There shall be levied, collected, and paid for each taxable year upon the surtax net income of every individual the surtax shown in the following table: "If the surtax net income is: Not over $2,000_ - -- -- -- Over $2,000 but not over $4,000--- Over $4,000 but not over $6,000--- Over $6,000 but not over $8,000-- May 29, 1944 [H. R. 4646] [Public Law 315] Individual Income Tax Act of 1944. 53 Stat., Part 1. 26U.S.C.;26U.S. C., Supp. III . 53Stat. 5. 26 U. 8. C., Supp. In. I 11. 53 Stat. 17. 26U.S.C. 25a; Supp. Ill, 25a. Ante, p. 31; pod, pp. 22, 238, 647. 53 Stat. 5. 26 U. S. C., Supp. m, J12(b). The surtax shall be: 20% of the surtax net Income. $400, plus 22% of excess over $2,000. $840, plus 26% of excess over $4,000. $1360, plus 30% of excess over $6,000.

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