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Show revenue sharing, a portion of the tax money collected by the "Saxiiip Federal 3 are tips from the against your first payment or it spread evenly against have Veterans Administration Federal income taxes for each installment of your 1975 tax. If the IRS computes your veterans filing returns. tax for veterans which areyou, any refund to IN GENERAL are entitled will be benefits are exempt from mailed to you. Federal income tax, and need Q. What is the reason for my not be reported as income. This income tax exemption indicating the county where I applies to dividends and live on my tax return? proceeds from government A. Under a law known as life insurance policies, but Federal estate tax does apply to insurance proceeds. Also, interest earned on government life insurance dividends left on deposit or credit with VA is considered income and must be reported on federal income tax returns. Here on Government is returned to the states and cities. The amount of money your locality receives is based on information you supply on your Federal income tax return. So, it's important for you to fill in the county of residence block on the front of your return. To complete this block, print or type the full name of the county (parish in Louisiana; organized borough in Alaska) in which you live. The instructions for both 1040 and 1040A forms explain how HILL TOP TIMES March 21, 1975 Page 23 1974 as your dependent. For you can avoid some of them. on For example, be sure all the more information and exemptions dependents, arithmetic on your return is IRS consult publication 501, correct, and make certain and your Social Security number Your Exemptions for Exemptions Dependents. and your spouse's are right It's available free at all IRS and that they are written in to fill in the block if you don't live in a county, parish or borough. Q. What is the rate for exemptions for myself and my family this year? A. The personal exemption for 1974 is $750. If you file a joint return, you may also claim a $750 exemption for your spouse. Exemptions of the same amount for age and appropriate .order offices. When Q. refund? will I get my blocks peel-of- f pre-address- ed from the forms package mailed to you on your return. Its use will speed the taxpayers as quickly as processing of your return. possible. This normally takes Finally, remember that the from three to five weeks after IRS cannot send you your the return is filed. Several refund unless you sign your factors can delay a refund, but return. The IRS makes a speical effort to send refunds back to A. blindness are available for both of you if you qualify. Furthermore, you are entitled to an exemption of $750 for each person who qualified in 18th Anniversary Sale AMONG major tax exempt Bill and other assistance, subsistence educational to vocational rehabilitation trainees. Also exempt are grants to veterans Service-disable- d eligible for specially adapted homes and cars, and clothing allowances for veterans whose prosthetic devices tend to wear out or tear their clothing. l. How do I ANNOUNCING "1975 BOB CAT" including payments report the Your total gambling winnings must be included in your income regardless of your losses. If you itemize your deductions on Schedule A, Form 1040, you may deduct your gambling losses incurred during the year to the extent they equal your winnings. You may not deduct gambling losses if you take the standard dcducation or use the tax tables to compute your tax. In the example, if you have no other winnings or losses, you should report the $50 as income and deduct the $10, if you itemize, rather than reporting only net winnings of A. $40. Q. How can I have my tax refund credited to next year's tax? A. An overpayment of income and social security taxes entitles you to a refund unless you indicate on your return that the overpayment should be applied to your next year's estimated tax. If there is an overpayment of tax, you should indicate on lines 25 and 26 of Form 1040, or on lines 24 and 25 of Form 1040A the amount you want refunded and the amount you want your creditpii against estimated lax. On your initial declaration of estimated tax , on Form you may have the to choose overpayment applied entirely thurs fri - Dogs No Western States fOOOAOOOOOOOOOOOOOCOOOOOO Pfl.fl.fl.ft.ttJLflJJLfl.fl.fl 74Cont. Mark IV (6) Start at 74 Lincoln Like new 74 Cad. Comp DeVille; Beauty IV, blue, 73 Lincoln (4) start at 72 Continental Mark IV (4) start at r, T9rmnmr - b"b- a- a-a- a"a 8 4-dr- ., 4-d- s, r. 2-d- ., 2-d- r. 73 Ford Gran Torino, squire wgn., nice 72 Capri, 2000, auto, hard to find 72 Fdrd Galaxie 500, air 7 1 Marq. Brom red ., r. 70 Pontiac LeMans, 2 dr., 70 Marq. air HT, dean 70 Volks Beetle (Thi column of question and answers on federal tax matters is provided by the local of nee of the U.S. Internal and is a as published public service to taxpayers. The column most answers questions asked by frequently Revenue Service i- r- Welcome Dealers 8 9gP BJLPJLfl.9 0 POO 0 fl g.g.P.P-g-- g fl fl r--v .ajlajo 6418 6518 5918 4818 74 74 73 73 73 73 2918 3118 3088 2388 2588 2018 3118 a Hornet Wgn. auto, air auto, air Montego, and air Marq. Brom. r auto, air Monterey, Delta 88, clean auto, air Montego, 7 3 Marq. Wgn., air 72 Chev. Nova, a'lr, god 73 Merc. Colony Park Wagon 73 Pontiac Grand Ville, Beauty 72 Cougar XR-- Air ., 4-d- s. ., ., 4-dr- ., s. ., 3318 2918 2418 1118 518 2418 7 71 Plymouth Fury III, 4 tan 2-d- 69 Monterey, 70 Porche 714 4-d- r. 3218 3618 4318 2818 2718 3018 2418 3318 1718 2118 3018 2018 1818 1518 1318 918 1018 ws"a a 2 "Trucks ; V fl a a a a a a'a'a'a'a'a'a'a a a & fl.flJUJL8JLB.fl.ftJLflJLflJLfl Twrrm 8 5 a a a a a aTrt Recreations!" fl fl fl BJLBB.fl P B 9.99 199999 75 Ford Ranger Super Cab, 3 loaded 74 Ford Ranger, 3 ton 4x4, (new) 751? JET 21' Self Contained Trailer 5118 4018 73 Chev. 2918 3;-to- 73 Ford 34-to- 73 Ford 34-to- auto n Ranger, P. Steering 72 Int. Travellall.'auto, air 73 Toyota land Cruiser. 4x4, loaded 73 Chev. Cheyenne 4x4, bargain 74 (New) 23 Self Contained Trailer 1040-ES- m Tax tips r- 4618 . 74 Mustang II, 6 cyl. Mack, 74 Monterey, air and 74 Marq. wgn. 73 Gran Torino, sharp 73 Chev. Nova Custom, air 73 Pontiac Grand Ville, beauty 73 Maverick, 73 Pontiac Grand Prix, loaded 73 Gremlin, looks new 73 Dodge Dart, Sport, auto - r- 74 Marq. Broms (5) full power msmrm' 3 LieanesT vars in i own o 7916 4918 4318 3518 2418 1918 72 Cadillac Eldorodo, nice 72 Lincoln (3) Start at 7 1 Lincoln (2) start at 69 Continental Mark III Most cars have 12,000 Mile Warranty UTTo oaaaaaaaaaaaoa s"6mrssmm - i r f t- ms nr r ri t acrcveu rircai uvjivic rircai LUXURY CARS 73 Continental Mark Mercury Dealer 1 sat s'a'a'o a a a fc3'8g8rya"a"a'fl" V $50 I won and the $10 I lost in the football poo! at my office? A&R Hot "Miller Floral Potted Plants for Demo Rides" 74 COUGARS XR7r s45 74 MONTEGO rn ! BR0MS.,Air UUVJ Bountiful the Place the label provided. S)(q)UJ veterans benefits are compensation, pension, GI in 2918 3018 2718 3918 3418 3718 |
