Show RETIRED PEOPLE Free Tax Booklet Contains Saving Money For or retired persons who ho dt der sire legally to reduce the cost o t Federal ordera income taxes the National Retired Teachers As As- As o and the American As As- As Association of Retired lri ke available fr free of charge II a new leaflet incorporating per per- income tax information for tor retired persons in the dear clear clearest est st language This DIGEST has already been distributed to the nillion members of AA NItTA-AA- RI through the As Associations BULLETINS For example the hints in- in Nude lf If you ou were ere 85 65 or or older tit t the end of your tax year December 31 1968 you yon lire are en- en entitled titled titled to an extra exemption tion in addition to your regular 1500 00 exemption If your vas 65 or 01 older she also is en en- en titled tilled to an extra exemption tion For Federal Income tax purposes purposes you are arc considered to tobe tobe be 65 on the day before your birthday An additional 6 0 exemption is granted for blindness regardless of the age gf the taxpayer DIVIDENDS on stock you wn ordinarily are arc taxable in- in income income come but you generally may from income the first of dividends on certain stock the Association tiers tion experts explain Gifts bequests or inheritances received by you are arc not taxable income However if property so received later pro tees dues Income of taxable nature such as dividends interest or 01 rental Income that income is taxable to you Similarly if property Ji perty Is donated to a trust and the income on it Is paid credited 01 o distributed to you that income Is taxable VETERANS benefits paid by the Veterans Administration to the veteran or to his family pre rc exempt from tax Interest you receive on a loan 01 o mon mon- money money ey deposited in a savings account ac- ac account count or 01 from other othel sources is generally taxable the experts remind policy proceeds paId in a lump suns sum to the in in- in insured at maturity are arc taxable only to the extent that they ex the cost t of the policy If f the proceeds from un an endow enclose ment policy are arc n received In in- in installments rather than in a turn Lump sum they are arc treated as annuity payments The Associations are ure nonprofit fit nonpartisan organizations devoted to the assistance In a variety of ways of elderly Ans Am- The Income Tax Di- Di Digest Best gest described above is avail avail- available able in leaflet form on a corn com basis from flom Floor Dupont Circle |