Show Taxpayers Ask IRS MY This column of questions and answers on federal tax matters matters matters mat mat- is provided by the local office of the US U.S. Internal Revenue Revenue Revenue Rev Rev- Service and is published as a public service to tax tax- payers The column answers questions most frequently asked by taxpayers QUES How do I go about checking on a missing refund Its It's b en months since I sent in my return Ans If it has been more than ten weeks since you mailed your return write the service center where the return return return re re- re- re turn was filed Be sure to give your name address social social so so- social cial security number and the approximate date the return was filed QUES Is it true a farmer wont won't be able to deduct his conservation expenses under the new tax law Ans The provision you ask about only affects some farmers farmers farm farm- ers when they sell farmland at a profit In these cases a farmer who sells land owned five years or less is required to treat gain on the sales as ordinary income to the extent of certain conservation expenses made after 1969 For land owned from six to ten years a decreasing percentage percentage per per- percentage of these expenses must be reported as ordinary income The law makes no change when the land is owned for more than ten years QUES If I give my daughter daugh daugh- ter money instead of the furniture furniture furniture fur fur- Id I'd been planning on onas onas onas as her wedding gift will she have to pay tax on it Ans No a gift is not taxable to the recipient However However However How How- ever if a gift is over the donor has to file a gift tax return and may have to pay a gift tax Gifts of cash or other property are subject to the same general rules QUES Several companies paid my way to their plants in connection with some job interviews Can I consider all of these trips tax-free tax or just dust the one for the job I finally took Ans Payment or reimbursement reimbursement reimbursement for travel expenses on a job interview is not taxable This applies whether or not the interview leads to employment Any reimbursement for expenses expenses expenses ex ex- ex- ex that exceeds your cost should be declared as income income in income in- in come however QUES Im I'm now retired and have a pension from my company in addition to Social Social Social So So- cial Security Will any of 0 this be taxable Ans All or part of your company pension may be taxable but not your Social Security benefits If u your company paid the full cost of your pension then the payments you receive willbe will be fully taxable However if you contributed to the cost of the pension then only a portion of it will be taxable QUES Can you deduct the tax paid on airline tickets Ans No this is a Federal excise tax and is not deductible deductible deduc deduc- tible on income tax returns QUES RUES I have a panel truck I use in a TV repair business Is it subject to the highway use tax Ans Most panel trucks do donot donot not meet the minimum weight requirements to be subject to this tax Two-axle Two trucks are not taxed unless they weigh pounds or more unloaded |