monday, january 19, 1976
daily nebraskan
page 5
By Becky Brugman
Planning to use your tax refund for spring vacation
plans? Better mail early, said Doug Johnson, federal rev
enue agent.
Based on last year's estimates, persons mailing their tax
forms in January are likely to get refunds in four to five
weeks, but those waiting until the April 15th deadline can
expect a two to three-month delay, Johnson said.
Federal and state income tax forms are due April 15.
According to the 1975 Federal Income Tax Short
Form, students must file a federal income tax form if they
are:
-Single, with a gross income of at least $2,350 or have
taxable dividends, interest or other unearned income.
-A qualifying widow(er) with dependent child and
with a gross income of at least $2,650.
-Married, filing separate returns or married but not liv
1975 (or date of spouse's death) with a gross income of at
least $3,500.
-Married filing separate returns or married but not liv
ing together at the end of 1975, with a gross income of at
least $750.
And persons with a gross income of at least $750
from sources within United States possessions.
Apply to all
These Tiling rules apply to all United States' citizens
and resident aliens, including those under 21 -years old.
A tax form should be mailed to you, but if you do not
receive one, contact either the state or federal department
of revenue office.
The shorter form 1040A, complete with instructions,
is sent to those who took the standard deduction last year
but did not use the short form. This simpler form may
save the taxpayer money, according to the IKS Omaha
district public affairsoffice.
Some changes in the 1975 form will mean less taxes for
the taxpayer.
The standard deduction has increased from 15 per cent
to 16 per cent with a maximum of $2,600 for married
couple filing jointly, $1,300 for married persons filing
separately or $2,300 for a single person.
Low income allowance
In another change, the low-income allowance has been
raised from $10,000 to $15,000.
Taxpayers owing money on their income now may
claim a $30 credit for each dependent or personal examp
tion. A person with more than one source of income may
find an accountant helpful when completing the tax form
because of his tax law knowledge, said Gary Chunka, state
deputy tax commissioner. After completing the forms, the
accountant must sign them stating he prepared the form.
The IRS will file the short form if the taxpayer has less
than $15,000 income or earns less than $400 interest.
Form 1040 will be filed if the taxpayer has an income
of less than $20,000 consisting only of wages, salaries and
tips, pensions and annuities, and chooses not to itemize.
For information on which form to file, contact the IRS
office in the Federal Bldg., 100 Centennial Mall North.
Students wishing to complete their own forms or
having questions about them may contact the tax assist
ance centers in the State Capitol from 8 ajn. to 5 pm.
daily, the Federal Bldg. from 8 a.m. to 4:45 pjn. daily, or
Gateway Shopping Center every Wednesday, starting Feb.
21 from 11 ajn.to 7:30 pjn.
Tax assistance also will be available Monday and Wed
nesday evenings from 6 p.m. to 10 p sa. starting Feb. 1 in
the Nebraska Union.
That labyrinth called the tax form;
the quickest road to the loony bin
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By Becky Brugman
Because income tax forms may not be as easy to fill
out as IBM test sheets, here are a few helpful (?) sug
gestions for the procedure:
1) Gather supplies: Your forms, pens and pencils, re
ceipts from contributions that year and crying towel.
2) Find a comfortable spot to sit where you won't be
disturbed, such as the Gobi Desert, upper Alaska or
Bradshaw, Neb.
3) Best thing now is to get started. Take your magni
fying glass in hand. You don't want to miss that impor
tant small print.
4) Read through the form completely to reduce later
mistakes and be sure to call your teachers to warn them of
your two-week absence.
5) Start at the beginning. To find the beginning, turn
the form in your hand until $$$$$ is all you can see.
6) Continue vigorously through form. Do not be
alarmed if it seems foreign to you. Everything is made in
Japan now.
7) When listing dependents, keep in mind that dogs,
cats, fish and hamsters do nf count. (Nor do school
books, even though you may have spent $750.00 on
them).
8) Take a break and repeat to yourself ten times,
"Illegitimate business is not better than this. Illegitimate
business is not better than this "
9) It's now tiijie to mop up the tears on the floor,
sweep up the hairs you've pulled out and come down
off the wall.
10) Finished?! You deserve a reward if you've finished
in less than two weeks. Take a trip around the table with
your left-over money. Do something special for yourself;
comb your hair, shave, eat.
Better yet, treat yourself to a beer and dream of your
refund.
4
1
Bent
Prisoners are people and need friends just
like everyone else, but don't always have a
chance to develop relationships.
The Student Y is offering a chance for stu
dents to work with residents of the Nebras
ka Center of Women at York - To be a
friend to develop needed relationships.
For more information:
Call Candy (489-2721) or the Student Y,
(472-2534). Call soon. This program begins
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11
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Starting January 19, until January 31, Team Electronics
Service Center will clean, demagnetize, lubricate, align the head,
tape transport, and azimuth of any auto tape machine. All for
only $3.00. Then so you know how well your unit is performing,
we check the power output and distortion at no extra cost
Team Electronics Service Center specializing in auto audio and
stereo equipment service.
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KFO
RID AL FORUM
RADIO STATION KFOR
And their Co-Sponsors invite
All Prospective Brides
to attend the KFOR BRIDAL FORUM
On Tuesday, the 27th of January
nineteen hundred and seventy-six
at seven o'clock in the evening
at
Pershing Auditorium
Register for your free invitation at:
. Ben Simon's Fashion Departments Downtown and Gateway
Baker Hardware Downtown and Gateway
Tyrrells's Flowers and House of Originals 11 33 No. Cotner
Lincoln Tour and Travel
Massachusetts Mutual Ufe Insurance
Necchi Sewing Center
Boomer's Printing
Townsend Studios
Donut Stop Bakery
Sartor - Hamann Jewelry
Clayton House
Meginnis Ford
Coordinated Bath Fashions
El Toro Hairstyling
Downtown and Gateway
1050 Stuart Bldg.
Westgate Shopping Center
1212 "O" Street
2221 Sheridan Blvd.
27th & "O" Streets
Downtown & Gateway
10th &0 Streets
Gateway Shopping Center
832 No. 27th
Douglas 3 Theatre Bldg.
13 th &P Streets
