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About The news-review. (Roseburg, Or.) 1948-1994 | View Entire Issue (Jan. 6, 1955)
Income fax Law Changes Benefit American Farmer; Decision Due By Jan. 1 5 WASHINGTON LP) rw -i." j , ... ; . ;. ' . "'J" (-mugc aim ninny mi nor revisions m the federal personal income tax law will benefit the American farmer. , And, like the rest of us, he will be helped by 14 major cnanges all of them in favor of the taxpayer which were written Into the law by the 83rd Congress. But riaaHliha. ik i: t i , ....w vuiiic cdiirjr lur farm income, and at least one cision must be made by Jan. 15. Every citizen, or resident, of the United States who in 1954 had SM total income ($1,200 in the case of inose oo years or older) must file an income tax return. That applies to children as well as adults. The one major change which ap plies particularly to the farmer is a provision under which soil and water conservation expenses .can be deducted from the farmer's tax able income. Under the old code, the farmer could get tax benefit for such expenditures only when he sold his improved land. The farmer's income tax report can get ' pretty complicated. Dur ing tax payment time, the revenue service spots as many of its per sonnel about the country as it can as free tax counselors. They can be located through your local bank. post office or .county . agent. , The revenue service has mailed everyone -who filed a 1953 farmer's income tax report the. special forms for farmers for 1954'. With the forms comes an instruction booklet. In addition the revenue service has on sale, for 25 cerus at post offices and banks, a plain English booklet called "Your Fed eral Income Tax." This has a spe cial 10-page section for farmers. The farmer may use only Form 1040, either as a short form or long form. ' Filing Instructions Here is how dates for filing work under the new law: 1. The farmer who has not esti mated his 1954 tax, and has not made quarterly paVmeats. or the farmer .who wishes to skip lite Jan. 15, 1955, payment on his esti mated 1954 tax, must file the final 1954 tax return,1 Form 1040; and pay up in full by Jan. 31, 1955. 2. The farmer who has followed the estimating procedure, and makes the Jan. 15, 1955, quarterly payment of his estimated tax li ability, has until April 15 to file his final return, and make any further payment required by his actual income. . -i. , The farmer who decides to file a declaration of estimated tax for 1955 and pay his estimated tax i,n four installments must get his dec laration into the director's office by April 15, 1955! The first quar terly payment is also due no la ter than April 15. The other three payments on the estimated . tax (all must be equal quarters) will d uue June 15 ana sept. 15, lltta and Jan. IS, 1956. , ; Exemptions Listed ' . The farmer's exemptions are the same as for other taxpayers, and he benefits like others from new exemption provisions. One new ex emption provision for students in on-farm training helps jhe farmer There -are three classes of ex emptions (11 for man and wife; (2) for children of the taxpayor: and (3) for dependents other than children. The' instruction booklet goes exhaustively into a.U three classes. Each exemption sets aside 5600 of your income from taxation. Pewiey's J I I'ljsysslllWWff mmm PENNEY'S PENCO SHEETS! ' FITTED! SANFORIZED! full 1.89 twin 1.69 D.Iuk. muilins, cloi.-wov.ii In sup.rior thread cunt, yours et th um low pric. as flats! Fit your mattrtss lik. m glovo do away with daily smooth and ra- rucking, ntod na ironing. PENNEY'S DOWNSTAIRS STORE 1 BLANKET SPECIAL! it7"' '' : -2$ 'gsaj ' LUSH WARM fff: C . ' RAYON-NYLON' BLEND MM This fluffy-warm, 90 rayon t blanket if strengthened wttH ,2. VVv 10 nylon to give you longer wear, greater wormth. It't woy- v en so closely It weighs a full 1 ' ft'- , 3Va lbs. . . 6 feet of width, 7Vi "' feet of length covers you amply from shoulders to toes! In rich 5gjJ L decorator colors. jS?" ' j---".; e Penney's Downstairs Stora ?Sk tit jJS1 SPECIAL TABLECLOTH PRINTED COTTON 52 x 52" Size Heavy dobby weave cotton printed with three beautiful designs. Select yours now and save at this thrifty Penney price. 5270" Size $2.00 Penney'i , Downstairs Store $00 JANUARY WHITE GOODS POPULAR BEDROOM COLORS! NATION-WIDE PASTELS it xSV'IJ""1 ll"""L"''-'J-'-'" W I '4 PENNEY'S OWN NATION-WIDE9 SHEETS fine laboratoiy-tosted quality, tor long wear! Your sheets .are real beauties in color? Select your favorite shades now in Pen ney's long-wearing wash-bright Nation Wide muslins! First quality, lab tested. Maize, rose, blue, green, orchid, pink. 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Previously a child could ue claimed i in exemption only U he earned list than $600 during the tax year. The new law allows the child to be an exemption re. gerdless of how much Income he has if: (A) the child is under 19 years of age; or (B) is a student (regardless of axe) at 1 recoc. nized education institution or is taking ontfarm training supervised by accredited schools, or on-farm training of 1 state of a political subdivision a county, for in stance: and (C) the taxpayer pro. vides over, half the child's support. 2. The second exemption change adds two new dependents who may be claimed if they meet two other tests (receive over nan their sup. port from the taxpayer and re ceive less than $600 income during the year). One is for any person supported by the taxpayer, even if pot related, who has his prin cipal place of residence with the taxpayer and is a member of the ixnuvw'j hoeholrt (this excludes hired help). The other is for the cousin of 1 taxpayer when the cousin is getting institutional care for physical or mental disability and was previously a member of the taxpayer's household. Thurs Jan. 6, 19S5 The News-Review, Roseburg, Ore. 3 Austrian Paper Claims Jot Stalin's Son Dead VIENNA, Austria UFl ' Joseph Stalin's son, Vassily, is dead, and his daughter, Svetlana, has been banished from Moscow, an Aus trian newspaper ' said Wednesday. The paper, Graz Kleines Blatt, said its information came from a Western diplomat jn. Moscow, who spent Christmas vacation in 'Aus tria. The paper did not identify him. . It quoted the diplomat as say ng Svetlana disappeared from the Soviet capital soon after the arrest ol her brother, following the puree of Lavrenty Beria in June 1953. Vassily Stalin, a lieutenant gen eral in the Soviet air force, died in a central Asiatic forced labor camp last fall, the newspaper said. a I Ne ws Visit In Portland Mr. ' ind Mrs. Frank Norton and family of Roseburg visited in Portland with relatives during the holidays. From Washington Mrs. Jack Rodgers and children are visiting with the former's parents, Mr. and Mrs. Maynard Byrd. The Rodgers are from Camas, wash. "- ? Farmers Union To Push 10-Poinr Policy Program . DENVER UK - The National Farmers Union will push a 10 point legislative program dealing broadly with farm policies and prices and public power in the new session of congress, rresi' H-nt James G. Patton said Wednesday. "Our economy is not growing s it should," Patton declared 111 a statement, "partly because American agriculture is . being ari!gcn downward." ' He said the NFU will "lmmed. lately seek a clarification of na tional farm policy objectives through vhe adoption of two Joint congressional resolutions. 'The first, Patton said, "will 1 a resolution on the family farm. declaring that it is the intent of Congress that farm programs should be designed to preserve our historic family farm pattern of agriculture." . The second measure would "set forth the minimum dietary needs of U.S. citizens and declare it is congress' intent to. maintain an abundance of food and fiber and to use this abundance wisely both at home and abroad." Patton said other NFU objectives would include: "Repeal of sliding scale price supports, substituting' mandatory supports at 100 per cent of paritj for basic commodities, and to pro vide 100 per cent of parity sup ports for milk and dairy products, poultry, and eg&, hogs and beef, with authorization to use produc tion payments as a mehod of sup port for such perishables." Visit In Tcom Mr. and Mrs. Joe Fest spent the holidays vis iting in lacoma with relatives. n To Rodmond Mr. and Mrs. W. C. Callison spent the New Years holidays in Redmond vis iting the latter's brother. To Washington Mr. and Mrs. Don Caskey and Mr. and Mrs. Art Pollard 1 spent the New Year's weekend in Camas, Wash., visit, ing at the home of Mr. and Mrs. ram nuagers. Loavo For St D..l 1 ir I 1 Mrs. . Vic Mann and two daugh. ters, of St. Paul, Minn., left Tues day after spending the weekend here attending the wedding of Mrs. Mann's daughter, Janet Kell er, to tyle Frank Morrison. Callod To Now Hampshire Mrs. Harold Crawford of Roseburg was called to the. home of ner parents in Manchester, N.H., by the death of her father, Frank Brendle, who died Monday. Mrs. Crawford left by plane for Man chester Tuesday. y Visits Parents Miss Nancy Michener visited with her parents,, Mr. and Mrs. Ray Michener, Look ingglass Road, during ' the holi days.; She had as a house guest. Miss Terry McKeqzie of Eugeue who spent a few days in Rose burg. Mr. and Mrs. Michener took the girls to Corvallis where they attend Oregon State College. Miss, .Michener is a senior. V REMARRIAGE OFP . HOLLYWOOD OB-Marie McDeii-, aid says she isn't going to reiuary shoe manufacturer Harry Karl, after all. The '30-year-old1 actress and the 1 v.. . tf.,.1 in ......... JI......J neat'" .a., -sv,. ncm uifVLi.011. last Nov. 22 in Las Vegas, .Nev., after he agreed to a $330,000 settle ment for her. .They recently took a trip to Europe and suid they tried to obtain marriage licenses in several European capitals but were refused. Karl was Miss McDonald's third husband. ,- ' 1 i , ' . ; j , i. :'-.:'t' SPECIAL MARK DOWNS Table No. 1 TOYS Vi off 0 Marionettes Molding Sett 0 Coloring Sets " 9 Miscellaneous Toys Shop the Park-N-Shop for big reductions in prices en broken lots,, -Floor Samples and . Miscellaneous Toys. Priced to sell. Buy now for Birthdays and everyday needs. 1.39 Value Round Split Wicker Clothes Basket ONLY 88c Reg. 2.49 . Tom Cr Jerry r-pc 1.49 Table No. 2 TOYS Vi off Paint Sets , Hobby Kits f Puzzles ' Stuffed Animals Many Others This Week Only Lionel Trains AND Accessories Floori Models '4 Off Reg. Price Reg. 2.98 White Sheet BLANKETS 81 x 99 NOW 1.99 EACH 1 Reg. 2.49 Print Sheet BLANKETS 72 x 84 NOW 1 .69 tACH Boys Lined JACKETS SIZES 10-16 RES. 7.89 4.88 SLIPPER SOCKS AND WOOL MITTENS v off Special Group . ' Ceramic Planters CLEARANCE '3 off Reg. 4.95 Step Stool Sturdy All Metal 2.99 Childrens Corduroy Overalls AND Flannel Shirts J6 Off ' Now In Stock , JUMBO GRADE Oregon Grown ROSES Fatnil.d Rom As M.iktd 1 98c Across the Parking Area from Nielsen's Market Store Hour Daily a.m. to 8 p.m ' Sunday 9 o.m to 7 p.m, Plenty of Frew Parking SHOP PA M M SOUTH STEPHENS ST - DIAL 3-8423 I
