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Show Forms Coming Out To U. S. Taxpayers Over 60,000,000 individual tax payers beginning next week will receive one of the three 1959 federal income tax forms and instructions which the Internal Revenue Service has designed to simplify the annual filing chore as much as possible. Danat Lathan, U. S. Commissioner Commis-sioner of Internal Revenue, who released the announcement, said the form each taxpayer will get through the mail is the one that appears to come closest to his needs based on what he reported last year. The Commissioner explained that each of the three forms is designed for a different set of facts, including the size and source of income and whether the taxpayer plans to take the standard deduction or to itemize his deductions. The vast majority of taxpayers will find the form they get in the mail will fit their 1959 reporting re-porting requirements because their tax situation will not have changed materially from last year. - Taxpayers whose 1959 tax situation sit-uation has changed from the previous pre-vious year will find one of the other two forms will meet their new filing requirements. These forms will be available after January 1 at the local IRS offices of-fices or at most post offices and banks. The three individual forms, the number to be mailed and the purpose of each are: Form 1040 A, the simple punch card form, will be mailed to almost al-most 25,000,000 taxpayers. This form is designed for the taxpayer taxpay-er with income under $10,000 consisting of wages reported on W-2 witholding statements and not more than $200 of other wages, interest and dividends, and who wishes to take the standard deduction, about 10 ten cent of his income, instead of itemizing deductions. Form 1040W, for wages, is a new two page form that will be mailed to another 17,500,000 tax payers. This form is designed to simplify reporting for the taxpayer tax-payer whose income, regardless of amount, consists of salary and wages, plus not more than $200 of dividends and interest, and no other items of income. A taxpayer using this form may itemize his deductions, compute a dividends-received credit, or take credit for payments on a Declaration of Estimated Tax. Taxpayers who can qualify to use this simplified form will find that it arrives at exactly the same tax result as the regular form 1040. Form 1040, once used by most taxpayers, will be sent to less than one-third of Internal Revenue's Reve-nue's mailing list, or to about 18,600,00 taxpayers. This form is for the individual taxpayer who needs the extra schedules, etc., to report special items. Commissioner Latham said the composition of this year's mailing mail-ing is an example of the continuing con-tinuing efforts IRS is making to simplify tax reporting. |