Show County Age af Has Hs Tax Guide The year 1961 will soon be history Again tax obligations must soon be met A helpful guide on filing income tax may come in mighty handy Dennis Funk County Extension Extension Extension Exten Exten- sion Agent points out Before tackling the tax re re- re- re porting job he suggests that farmers and ranchmen get a copy of the Internal Revenue Services Service's 1962 edition of the Farmers Farmer's Tax Guide It is available without cost from the offices of local county agents or the Internal Revenue Revenue Revenue Rev Rev- Service The guide is written in easy to read read style and includes examples of problems worked out on the applicable tax forms Mr 1 Funk says January 15 is the deadline for farmers and ranchers to tofile tofile tofile file their 1961 tax estimates if they want extra time for filing tiling their final returns Those who file the estimate have until April 15 to file their 1040 forms If no estimate estimate estimate esti esti- mate is filed 15 then becomes the deadline for making the final tax report All taxpayers who derived two-thirds two or more of their 1961 gross income from farming farming farming farm farm- ing or ranching are affected by these deadlines l Farmers and ranchers also must keep in mind the necessity necessity necessity sity of report their security tax due on wages paid With either of the following two tests they can determine whether or not they must pay the social security tax on wages 1 If they paid a worker work work- er 50 or more during the calendar calendar calendar cal cal- year or 2 if they paid a worker on an hourly or dail daily basis for 20 days or more during during during dur dur- ing the year In either case the 3 per cent social security tax should have been d deducted deduct deduct- ducted duct ed from the cash wages paid to the worker Form is used for reporting reporting reporting report report- ing ing- farm wages The farmer- farmer employer must show the wages paid and give the account account account ac ac- ac- ac count number of individual workers He must file the withheld tax plus an equal amount from the employer along with the reporting form formon on or before January 31 or a month after the close of the year Since every phase of the farm and ranch business can be affected by taxes those affected need to study the Tax Guide Mr 1 Funk said |