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Form F.R. 131

BOARD OF GOVERNORS
Or THt

FEDERAL RESERVE SYSTEM

Office Correspondence

W
To

From

Date

*

Chairman E c c l e s

Subject;

June 12, 19Ul

Tax Developments

Mart i n Kro st

riK
The House Ways and Lleans Committee i n an e x e c u t i v e

session

t h i s morning t e n t a t i v e l y decided t o r e q u i r e compulsory f i l i n g o f j o i n t
r e t u r n s f o r husband and w i f e .

This appears t o be the f i r s t

positive

d e c i s i o n on the new t a x b i l l thus f a r t a k e n by the Committee,

A later

memorandum w i l l d i s c u s s the probable t r e n d of developments w i t h r e s p e c t
t o e x c e s s p r o f i t s . t a x , i n d i v i d u a l income t a x r a t e s , and e x c i s e t a x e s .