| Show additional withholding TAX IN LAST TWO MONTHS OF Y YEAR EA R A PROBABLY DD AVOB LY WILL COVER TAX BOOST OF AVER AGE CITIZEN washington it if you as a tax payer have been worrying over the new tax law you youcan can relax your share of the in new taxes wont amount to much in 1951 for instance take a married couple with two children and a 75 a week salary beginning with the first pay check in nov ember have an addition al ai 40 cents withheld for taxes that amounts to an extra two per cent after allowing for dependents pen dents most I 1 tax ax payers will find that the additional two percent taken out during november and december will cover the entire increase they owe for 1951 you probably wont have to ito dig up anything extra when the march 15 deadline for filing returns comes around some taxpayers will get a break under the new law all unmarried persons maintaining a home toe for meni members liers of their family will now get martof part of the tax break given married couples filing joint returns it if you sold your house during 1951 for a profit and buy another costing as much or more within a year you do not have to report the profit made in the sale however if your new home cost less than what you got for the old one there will be a tax on the difference taxpayers over 65 who dont file on the short form can deduct all medical expenses not exceeding for a married couple and 2500 for a single taxpayer younger taxpayers ran can still deduct medical empens es that exceed five per cent ot of the income members of the armed armea forces will continue to get an exemption tor for time spent in korea taxes owed by servicemen who die in korea or from wounds disease or injury incurred there will be cancelled for any year during which they spent ebent as much as a day in in korea your dependent can now earn eam up to 6 in 1951 and still ba c claimed aimed on your return former ly it if they earned over you could no longer claim them as a dependent the next tax bill inc erases cor horation po ration taxes and many excise taxes the gasoline tax is up cent a gallon the tax on whiskey will go up from to a filth fifth i the bill has an unusual feature all tax increases automat icalla expire april 1 1954 that I 1 is unless congress makes a change in the meantime |
