The Daily Banner, Greencastle, Putnam County, 1 March 1967 — Page 3

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Mrs. Robert Loring is proudly pinning the Eagle Scout Award on her son, Scott Loring, at the Eagle Court of Honor held at the First Christian Church Fellowship Hall. Stand-

ing next to Scott is his father, Robert; Murray Lewis, Advisor to Explorer Post of Troop 99; and Grover Vaughn, Scoutmaster.

IRS Questions And Answers

Q—Where do I report money Q—We paid sales tax on a from a pension? color TV as well as a new car A—File Schedule B with last year. Can we add this to your Form 1040 to report this the amount shown in the sales income. , tax table?

LADIES NIGHT AMERICAN LEGION POST NO. 58 Wednesday, March 1st Promptly 8:00 p.m. Prizes Prizes

A—You may add the sales tax paid on the car to the amount shown in the sales tax table but not the tax paid on the television set. Of course, if you can show you actually paid an amount greater than shown by the table, you may deduct this greater amount. Q—Our son works a paper route. Will he have to file an income tax return? A—A return is required is he earned $600 or more for the year. He should also file a return to get a refund if his income was less than $600 and income tax was withheld from his pay. Q—I heard there was some

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new procedure for taxpayers who are over-withheld because of the new graduated rates. Where can I find out about this? A—Instructions for claiming additional withholding allowances based on large itemized deductions are explained in Schedule A (Form W-4). Copies have been supplied to employers and are available at local IRS offices. To reduce withholding under this procedure a taxpayer must have filed a return on 1966 income. Q—Looking over some of the settlement costs I paid when I bought my house, I noticed an item for county transfer tax and another for revenue stamps. Are these deductible? A—No, these costs are not deductible when paid in connection with the purchase of a house for personal use but they should be added into the cost basis of your home. If the house was purchased for rental or income producing purposes then these expenses could be deducted as a business expense. The two main items a homeowner may deduct are real estate taxes and interest paid on mortgage loans. Q—What's the Social Security tax rate on self-employment income ? A—Net earnings from selfemployment are taxed at a rate of 6.15 per cent for 1966. This rate goes up to 6.4 per cent for 1967 earnings. Q—Do you have to be 65 to take advantage of retirement income credit? A—No you don’t. If you retire before reaching age 65 under a public retirement system you may be eligible to use this provision of the tax law.

China Readies First H-Bomb GENEVA UPI—Despite Red China’s raging internal upheaval, Peking is now expected to explode its first H-bomb by next year, disarmament conference sources said today. The sources said that unless the revolutionary unrest on the Communist mainland spreads to Peking’s nuclear installations, the Chinese should have their first H-bomb by 1968, sooner than had been anticipated. There have been periodic newspaper reports in Hong Kong that Sinkaing Province, where China’s nuclear arsenal is stored, had fallen into the hands of anti-Mao Tse-tung forces. There has been no reliable confirmation from other sources. The determined Chinese push for a strong nuclear weapons potential conflicts with current efforts of the United States, Russia and Britain for a treaty aimed at banning the spread of nuclear weapons. China has served notice that she will not underwrite a nuclear non-proliferation treaty and will not feel bound by it in any way. France, intent on building its own independent nuclear force, has joined Peking in this opposition.

Negroes To Face Members Of Klaa NATCHEZ, Miss. UPI — Angered by a booby-trap slaying of a civil rights leader, Negroes threatened a confrontation today with alleged Ku Klux Klan members employed at the plant where the victim worked. “We’re going to meet the Muckers face to face,” Charles Evers, Mississippi field secretary for the National Association for the Advancement of Colored People (NAACP), told 2,000 Negroes Tuesday night. Evers said Negroes would march to the Armstrong Rubber and Tire Co. plant at the change of shifts at 4 p.m. CST. Civil rights leaders have charged the plant employs “known” Klansmen, and Evers implied the Klan was involved in the death Monday night of Wharlest Jackson, recently promoted to a plant job formerly held by a white man. Jackson, 37, was killed when his pickup truck exploded and crashed into a pole three blocks from the plant. A similar blast in 1965 seriously injured George Metcalfe, another Negro worker at the Armstrong plant who had been active in civil rights. Rewards totaling $36,000 have ben posted in connection with the Jackson killing, which Gov. Paul Johnson labeled a “heinous and senseless murder.” Johnson assigned state investigators to the case.

Teachers Face Aa Injunction FORT WAYNE, UPI — Special Judge George E. Fruechtenicht Tuesday issued an injunction against the Fort Wayne Teachers Association ordering the organization to refrain from interfering with the normal operation of Fort Wayne Wayne schools. A hearing was set for March 7 in the dispute over a “professional work stoppage” held one day over contract negotiations. The Fort Wayne School Board secured the temporary injunction and seeks to make it permanent. Meanwhile, both sides continued efforts to negotiate the salary and working conditions which have kept them apart for more than a year.

Coasular Treaty Gets Approval WASHINGTON UPI — The Senate Foreign Relations Committee Tuesday approved the pending U.S. Soviet consular treaty and Chairman J. William Fulbright predicted Senate ratification in a couple of weeks. The committee vote was 15 to 4, Fulbright said. Five members were not present when the vote was taken but were polled by telephone, he said. It was 10 to 4 even without them. A key switch in favor of the proposal was made by Sen. Bourke B. Hickenlooper, Rlowa, chairman of the Senate GOP Policy Conference. He said he felt the treaty “is in the best interests of the United States.” The support of Hickenlooper together with a switch in favor of the pact by Senate GOP Leader Everett M. Dirksen enhanced the outlook for the treaty which requires two-third approval for ratification. Until recently, there had been some administration concern that it might not get the necessary backing.

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