HOW SOON THE HOTFOOT ?
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A Commentary . . .
YOU WILL BE interested in the commentary of
editor and pubisher W. E. Barnes of the Sleepy I
Eye (Miim.) Herald Disptach (and quite legal) idea
of his fellow journalist, D. R. Peterson, editor and
publisher of the Truman (also Minn.) Tribune:
“The Truman Tribune editor,’ writes Mr. Barnes,
"says that starting Jan. 1, he is going to pay his em
ployes their full salary each week except the last week
of the month, then deduct the entire moth’s withhold
tax. He thinks it will shock the employes into realiz
ing just how much government is forcing them to
pay in taxes. He thinks they will raise such a fuss that
federal spending will be cut.
“The editor is only half right. They will raise
quite a fuss. It won’t do any good. Most employes and
employers alike, dap their hands every time the gov
ernment promises more social security, more unem
ployment compensation, more sick benefits for the old
and those not so old, more public works to boost em
ployment, more public housing, more aid to schools,
; more subsidies, more of everything for everybody. The
' more we demand, the mere it costs, and the more taxes
we must pay. $eejg£fc ti&nst any ten-year-old could
understand the problem. Most of us who have long
' since observed that tenth birthday either don’t —
. or close our eyes to where we are going.”_
' Comedienne Lucille Ball
. Plans to Wed Sunday
nchorage
The body of
a woman was found in an alley
garbage rack behind a 4th Ave.
residence Friday.
The woman was identified as
Florence J. Sallee,
Roger Gahring
Many Taxpayers
To Be Affected by
1961 fax Changes f
Many taxpayers are affected by
1061 federal income tax changes
as they do their year-end figur
ing preparatory to tax return
time, according to Commerce
Clearing House.
Changes in return forms, new
revenue laws enacted by Con
gress, as well as hundreds of new
decisions and rulings, must be
considered in paying tax on 1061
income.
Among the high spots of the
many changes explained in CGH's
“1062 U.S. Master Tax Guide,”
are the following:
Taxpayers will continue to use
their social security numbers on
their tax returns just as before.
Those who have no social security
number will encounter the new
number requirement for the first
time when they file their April 15,
1062 estimation returns. For those
taxpayers the IRS expects to have
numbers assigned by then.
An employe will not have to
detail his travel expenses on his
tax return if he receives a per
diem allowance of not more than
$20 and/or a mileage allowance
of not more than 15 cents per
mile.
Accrual-basis membership or
ganizations, such as automobile
clubs, may elect to spread pre
paid dues income over the period
(not to exceed 36 months) during
which they are under a liability
to render the services for which
the members pay their dues.
The self-employment tax rate
has been raised to 4.7 per cent for I
1962. |
A number ol states have passed
“professional” corporation laws
which permit doctors and mem- I
bers ol other professions to form
associations for the purpose of ob
taining tax-deferred retirement
and other fringe benefits under
federal income tax law.
The U.S. Supreme Court has
ruled that proceeds from embez
zled funds are taxable income,
the “Master Tax Guide” explains.
Child support payments must be
specifically designated as payable
for such purposes to be non-de
ductible by the husband and non
taxable to the wife, under an
other decision.
The high court also held that a
real estate tax liability accrues
in the year when litigation is set
tled rather than in the earlier
year when the amount claimed
by the taxing authority is paid
under protest.
Among the many check lists in
the 1962 edition of the CCH
“Master Tax Guide” in one which
tabulates over 90 separate items
which must be reported as in
come, including such diverse items
as damages received tor patent
infringements, tips, jury tees and
rewards.
Another check list shows al
most 60 items if income which
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Army Issues Pre-Christmas
Draft Call for 16,000 Men
WASHINGTON \Jf\ — The De
fense Department issued Tuesday
a pre-Christmas draft call for
16.000 men, all for Army service.
The number for December is
4.000 fewer than the 20,000 each
called for October and November,
and 9,000 below that for Septem
ber.
Half of the 16,000 men are to
report to induction stations by
Dec. 8, and the remaining half
by Dec. 15, completing the month’s
inductions well in advance of the
Christmas holidays.
The Navy, Marine Corps and
Air Force do not intend to ask for
any draftees during December,
the Pentagon announcement said.
Earlier, the department had is
sued a call for drafting 345 more
doctors, also for Army service.
This is the third such call by
the Defense Department this year
and brings to 1,025 the total num
ber of doctors summoned to mili
tary duty in 1981.
“This call is a special one neces
sary to support the military
buildup,” the Pentagon said.
The Defense ’Department said
it is using Selective Service calls
“to reinforce military physician
strength in preference to the re
call of large numbers of reserve
Medical Corps officers at the
present time.”
YOUTH DISMISSED FROM
UR. MILITARY ACADEMY
WEST POINT, N.Y. UT> — Paul
Weaver, 18, a cadet who disap
peared from the UR. Military
Academy Aug. 30 and showed up
at his home in Portsmouth, Ohio,
Nov. 4, was dismissed from the
Academy Tuesday. He left for
home with his parents.
The Academy said the youth
“could give no reasonable ex
planation” for his departure.
The youth, a scholastic sssd
athletic standout in high school,
had said before his departure
that he found life at the Academy
more stringent and less collegiate
than he had expected.
—
SUBSCRIBE TO THE NUGGET
U.S. Plans to
Launch Four More
Tiros Weather Satellites
WASHINGTON (A !—. Four
more Tiros weather satellites will
be launched, the National Aero
nautics and Space Administration
said Tuesday.
The agency told weather ex
perts from 30 foreign countries,
attending a 10-day international
workshop on the use of the
weather satellite data, that
the three Tiros vehicles launched
to date have increased accuracy
in weather analysis.
Dr. Morris Tepper, NASA Di
rector of Meteorological Systems,
said the data they sent confirmed
earlier stories, based on limited
photographs from high altitude
rockets, that “nature draws her
own weather maps by means of
clouds.”
He said the four additional
Tiros spacecraft will be used to
provide continuous coverage until
the first Nimbus satellite, a great
ly improved weather-data gather
er, takes over.
James Webb, NASA Adminis
trator, told the group that the
more useful and more nearly
operational Nimbus series will re
place the Tiros program In about
a year.
Dial 2217
ARCTIC OIL
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