Indianapolis Times, Indianapolis, Marion County, 23 December 1947 — Page 19

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23, 1947% | vice president i secretary

ol, operation of ent, a 4-H clu, n and & pure. planned by the 1e coming year,

ANCE )FFER

THE CORDS

FR-3418

DSR toa 77

“a TUESDAY, DEC. 2, 1047

Your Income Tax Prim

v ay

y ty bn Ls

er—No. 1

Series of Articles om Guide You On What Must Be Reported Next March

Information. { Given

On Form to Use

This the the first of a series of authoriative, understandable articles in NEA’s annual Income Tax Primer, prepared by NEA's recognized authority on income 4ax problems in consultation with Bureau of Internal Revenue experts. These step-by-step articles show the wage earning taxpayer, how to make out his income tax return with a minimum of effort and a maximum of accuracy.

By 8. BURTON HEATH " NEA Staff Writer

WASHINGTON, Dec. 23—The law controlling federal tax returns on 1847 income has not been changed since last March 15. Residents of most states will & prepare stheir returns the same as last year, except for the figures they use because of different inexpenses,

This is the first

Mr. Heath general income taxpayer, prepared in consultation with experts in the Bureau of Internal Revenue. It is designed to help you. (I): Decide whether you have to

Ale a return;

(I): Decide—if you legally can omit filing—whether you can afford to do so; (ITI); Decide whether you can

file your Withholding Statement and let Uncle Sam do the figuring

for you, Know Which Form to Use (IV): Decide whether you ought to use Form 1040 even though you can legally file a Withholding Statement;

whether to use the tax table, take (oc {4 have the use of your money

the standard deduction, or compute your own deductions. (VD); Know what income is tax-

come and deductible expenses; (VID: Use whatever form you choose most easily, mose acurately, most economically.

As far as possible, these articles comes later. are arranged so that those using * each form can ignore the articles

that do not concern them. Study the Check List' This first article is! accompanied | by a check list of taxable income.

Look through it, and make sure | that you do not omit anything that!

of a series for the |

“sources, it 15 tAxable.

Bonuses. Clergyman's cash allowance for parsonage. @ Oommissions.

Dismissal or severance pay. Fees, including clergyman’s and juror's. J Gifts from anybody for whom you did work or favors. NLRB ss ard for wrongful discharge. Prizes, awards, etc, in advertising or promotional contests. . Profit-sharing di§tribution by employer,

«, Alimony received periodically J © (but not necessarily at regular intervals). under court order. Annuity proceeds. Bad debts recovered after being deducted in a previous return. Bonus on lease of property. Damages for injury to property rights. Endowment policy matured (profit element only). Gambling winnings. Medical expenses recovered after being deducted in previous return.

TAXABLE INCOME CHECK LIST

i If you had income during 1947 from any of the following GROUP A If you income (including your wife's, if you file jointly) was not more than $4990.99, and came exclusively from sources in Group A, and if you did not have more than $100 that was not subjected to withholding tax, you can use your Withholding Statement (W-2) as an income tax return,

‘Reimbursement for commuting expenses, Rewards for doing anything of benefit to the giver. Salary or wages: Sick leave pay or sick benefits

given voluntarily by employ=

er, not through insurance. Strike benefits, * Tips. Go (All of above are compensation for personal services.) Dividends on corporation stocks. Interest on anything except a few uncommon government bonds.

GROUP B If you income (including your wife's, if you file Jointly) is as much as $5000; or if you had more than $100 on which tax was not withheld; or if you had any income, however small, from a source in Group B, you are required to use form 1040.

- Partnership income.

Income for estate (not proceeds of inheritance or bequest),

Pension,

Profit from sale of any property, business or personal.

Profit from business, legal or illegal. Rents, Retirement pay. gRoyalties, Separation allowance under

court order, Trust fund.

n 1946 income, so the-20 per cent fund, you get it.

le does not apply.

as long as possible. ! In Case You're Over-Paid

But, of course,

"HOME FOR CHRISTMAS; — Mrs,

19-month-old son, Bobbie, give Smokie a royal feast of cookies here after the dog

returned from a five.year absence.

his tail on the Falkenberg back-porch.

Lady Astor Fails to Ruffle Cheesey Wheeze

Farmers With Paris Dig

DES MOINES, Ia. Dec. Towa farmers—unceitain whethér they had been ‘tickled or stung by the wit of Lady Astor, Americanborn member of British Parliament --laughed today and-said her ladyship “was just kidding.” Lady astor was reported to have said In London that she had been invited to come to Towa to speak at a farm meeting here. She said she supposed she had been invited in order that she could ° “fix things up” with wives of 22 Iowa farmers who were photographed in Paris night clubs re: their tour of Europe last summer Howard Hill, Minburn, Ia. presi=|

|if your claim is wrong, youll re- jong of the Towa Farm Bureay, did Then probably you will want to ceive a bill when the auditor gets ,,¢ py axé “the trip, but said’. that

(V): Decide, if you use Form 1040, oot until almost March 15, to file, around to your return.

The Bureau of Internal Revenue g Yepeats the promise that it author-| ized this correspondent to make to

But if you have over-paid—either you last year: able and what is not—what ex- {f,ough withholding tax or over-| penses can be deducted and what octimate then you have a refund! come tax return early, before the can not—how to compute both in- ming. The quicker you file, the rush begins, refunds will be made as quickér and sooner you will get fast as the returns come in.”

that refund.’

Refunds are made on your re- ° turns as you file them. The audit) Who's your wife? If you claim a re-

{

Save "This Tax Primer,

“Lady Astor As quite a kidder.”

23 (UP)—|

“If you will file your personal in-|

Tomorrow:

pendents Iegahy dependent? 5 =

‘Then Figure Your Return

The series of articles starting to-,

the collector can call to your em-| day deal only with the personal in-| qown and prepare your return. | come tax problems of lower and With the second article will be a; medium income groups who get { most of their money from employ-

barrassed attention later.

list of non-taxable income items.

If you had 1947 income from a ers, in the form of wages, salaries,

source not. mentioned in either of commissions.

these lists, you should either check! with your collector's office, or report the item, describe it clearly, and let the collector decide whether |

it is taxable.

If you still owe some tax on 1947] but are not subject to

income, penalty because:

ONE: You were not required %

file an estimate, or

TWO: Your deficit is less than |

| return you propose to use:

the first four articles. +

No one article means much by itself. They depend on one another. They will help you most if you will save those that discuss the form of

For W- (Withholding Statement)

For 1040, using Tax Table or

| fourth, ninth and tenth articles.

Standard Deduction, all except the

For 1040, computing your own

20 per cent of the full year’s tax, or | deductions, all except the fourth

THREE: Your estimate was 8 based article.

You've driven the big one

Here's why.

this year’s models.

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—— -—

A ——— A ——

t! It will be rather easy if you will]

take this sincere advice:

why.

Please do not ask.

articles.

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“Who must file? Are your de- |

When your set is complete, sit

Don't try to understand what | you are doing. Follow the instructions step by step, even if they seem cock-eyed. They aren't, If you'll do| that, your return will be correct] even if you haven't the least idea’

“Lady Astor was invited to Iowa so ‘we could repay the courtesy she showed us on our trip,” he said. 1 telephoned her last week to renew the invitation, She still is uncertain that she can make it, but we certainly hope she can.” Mr. Wilson sald the pictures which appeared in an American magazine of the farmers watching scantily-dressed night club cuties ‘were a frame-up.” “The farmers didn't know what they “Were getting into,” he said,

‘The magazine asked them to go

{and paid their expenses,

“Besides, nobody's wife got excited about those pictures. They were just a gag as far as we were

concerned. But we can take it."

Wasson's

9:30 A. M.

Te Folcaribers of Chicago , “and her

| wn | . By PAUL F. ELLIS |

Long: Ta Comet To Appear Jan. |

United Press Staff Correspondent NEW YORK, Dec. 23--The orbit |of the new, as yet unnamed, comet

streaking through space has been

PAGE 19

should be -seeri shortly after suns’ down in tRe Constellation Capricornus, which is hear the southwesteen - horizon.

Predicts Long Visibility “It should be. visible for several nights, probably longer,” Dr. Shapley said. He disclosed that the new comet already has been photographed and spectrographed by the McDonald

{determined tentatively and the “fire rObservatory-in-Texas; and-that-some-

ball’ with its long tail should become visible in the northern hemi-

{sphere about Jan. 1, Prof. Harlow {Shapley said today. ‘ Prof. Shapely, director. of = the Harvard Observatory, said the comet is mostly a southern hemi[sphere show, ‘but that it should be {bright enough in the *horthern

{hemisphere to be visible to the

naked eye mas week,

possibly during Christ-

On a basis of the tentative calculation of JUS orbit , the new ‘comet

interesting results” have been obtained. He said three calculations of the comet's orbit. have been received at Harvard Observatory. From these calculations it has been possible to make a tentative determination of the comet’s orbit. Scientists, however, have not yet been able to determine the interval at which the comet may return. “It may be 100° vears or 1000 years,” Prof. Shapley sald. Halley's

comet completes its orbit in abouts

75 vears,

Mrs, Falkenberg boarded the dog with some friends when she went to visit her wounded Navy-vet husband. in 1942 and Smokie, apparently discontented with his lot, ran away to turn up, five years later, wagging

[for American Remittances to Europe,

Starting Wednesday

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AnIncan Meoicam Associanon PusuicAnons

Clears Bus Aisle

HARTFORD, Conn, Dec. 23 (UP) —A bus driver was having the usual trouble — his ® passengers wouldn't move to the rear.

“ne

Finally, in desperation, he threat- FOOT 2 ened, “move or I'll open this lim- RE burger cheese sandwich.” LIEE. .. i They moved!

‘Operation Santa Claus’ Keeps U. S. Troops Busy’

WASHINGTON, Dec. 23 (UP)=U. 8. occupation troops in Austria are busy with - “operation ' Santa Claus,” the Army reported today. The ‘soldiers are going from house to house with CARE food packages for needy families. The Christmas parcels were paid for by Americans | and sent overseas by the Sommitice)

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