Iron County Record | 1955-01-20 | Page 4 | 1954 Tax Topics

IS54 TAX TOPICS Editor's Note: The following series ser-ies of pertinent questions, answers an-swers and comments on the 1954 Federal Income Tax, will be printed each week In the hope that It may supply needed information infor-mation for residents of this area. The series has been supplied by your local Internal Revenue District Dis-trict director.: Who Must File a 1954 Federal Income Tax Return? Every citizen or resident of the United States under 65 - whether wheth-er an adult or minor who had $G00 or more gross income in 1954 ($1200 if 65 years of age or more) must file an Income tax return re-turn for the year. For requirements require-ments respecting self-employment tax see page nine of the instructions accompanying your Income tax return for 1954. Copies of these instructions and answers an-swers may be obtained from the local office of your District Director Di-rector of Internal Revenue. His address Is Room 219, Post Office Of-fice Bldg. The telephone number is 1193. Why You Must File a Federal Income Tax Return for 1954. If you are a salaried workers and have an income of more than $600 a year, most of your federal income tax Is withheld from your wages every payday or paid on Declarations of Enstlmated Tax every quarter. However, the law requires you to file an annual return to determine your correct tax liability and whether you owe more or you should get a refund. When to File Your 1954 Federal Income Tax Return. Between Jan. 1 and April 15, 1955. Try to avoid the last-minute rush. Last year, one Internal Revenue Service office assisted only 13,000 taxpayers during the whole month of January. But In the first two weeks of March 23,-000 23,-000 taxpayers came in for help In the few days left before March 15. Obviously, the late-comers could not be given the same personal per-sonal attention which was possible pos-sible with those who came early. Those few individuals who keep books on a fiscal year basis must file by the 15th day of the fourth month after the close of tthe taxable year.