Your Income Tax; What Forms to Use
Editor’s Note: There are sev
eral forms which citizens use to
file federal income tax returns,
and it is important that the
proper one be used. This article,
second of a series, explains the
different types and how income
is reported.
By James Marlow
WASHINGTON Uf) — The two
main forms of filling out your 1962
income tax return are 1040 and
1040A. The latter, a punchcard, is
simpler.
Anyone can use 1040. People
with $10,000 or more income must
use it. Only under—$10,000 people
can use 1040A and only if they
meet certain rules.
On both forms you must figure
your own tax if your income was
$5,000 or more.
You do this from the tax rate
schedule on page 9 of the 14-page
instruction sheet sent all tax pay
ers by the Internal Revenue Serv
ive (IRS).
On both forms under—$5,000
people can find their tax, without
figuring, in the tax table on page
10 of the instruction sheet.
You cannot use either the tax
table or 1040A if you want to
itemize deductible expenses. You
must use 1040. More on that later.
Take 1040A. You can use it if:
1. You’re under—$10,000 income
was entirely in wages from which
tax was withheld except for no
more than $200 in dividends or in
terest or wages from which tax
was not withheld.
2. You’re willing to accept for
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EVERYBODY WELCOME
deductible expenses the standard
deduction of 10 per cent on your
income — up to a maximum de
duction of $1,000 — without item
izing.
Anyone claiming more than that
standard decution must itemize on
1040.
The tax table for under $5,000
people has built into it a deduction
of 10 per cent for personal ex
penses. You don’t have to claim
it or itemize to prove you had
that much deduction.
When you figure your own tax
you can claim without itemizing a
deduction of 10 per cent of income
up to $1,000 limit.
You cannot use 1040A if you
wish to file a return as head of
household or surviving spouse,
were self-employed, claim credit
for retirement income, are delin
quent in filing your return, claim
exclusion for sick pay, or paid an
estimated tax in 1962.
If you’re one of the under $5,000
people using 1040A and don’t want
to look up your tax in the table,
fill out your return and send it
to the IRS district collector.
He’ll find your tax for you and
(1) bill you for any tax still owed
or (2) send you a refund if too
much tax was withheld from your
pay in 1962.
Both Musi Itemize
When a husband and wife file
separate returns and one itemizes
deductions, both must itemize and
claim only what each can prove.
Neither, in this case, can use
1040A. But must use 1040.
New rules on deductions for
travel, entertainment and gift ex
penses for business purposes went
into effect Jan, 1, 1963. They re
quire far more record-keeping than
in the past but do not apply to
1962 expenses.
You are allowed to exclude from
your reportable income the first
$50 of dividends you receive. You
can do this by leaving out the first
$50 of income you report on 1040A;
1040 filers use schedule B.
Note: The so-called dividends
you get on your savings in a sav
ings and loan assocation are in
Air-filled Roofs Featured
on World's Fair Building
A spectacular complex of buildings, which will be con
structed almost entirely of plastic materials, will make up the
“Schaefer Center” at the 1964-1965 New York World’s Fair.
Perimeter walls of the buildings o
will be transparent, smokeless
plastic of a specially created
“bubble” design. Roofs of the j
buildings will be air-filled “float- !
ing” plastic discs |
Unveiled recently by R. J. |
Schaefer, president of The F. &
H. Schaefer Brewing Co., the
model of the Center, which was
designed by Eggers and Hig
gins and Walter Dorwin Teague
Associates, consists of three
domed buildings joined together
by a semicircular satellite struc
ture. The buildings will be sur
rounded by landscaped grounds
which will be decorated with
fountains and plantings, walk
ways, waterways and pools.
One building of the “Schaefer
Center” will include an exhibit
of the company’s beginnings as
H small beer garden and brew
ery in 1842—and carry through
to the present. The second of
the circular halls will be dec
orated as the “Schaefer 1890
Club”—a restaurant and bar—
overlooking an old-fashioned
beer garden. The third struc
ture will be “The Restaurant
of Tomorrow.” Here, circular
tables will seem to float on a
floor of water and be scattered
among arrangements of flower
ing trees.
The entire complex is de
signed to create an impression
of relaxed fantasy. All the ma
terials used will be relatively
unfamiliar and unique as will
be the colors, furniture and dec
orations.
William A. Sneddon
r*asco~ In Spokane
SPOKANE W — William A.
Snedden. 79, retired Department of
Agriculture inspector and father
of Fairbanks publisher C. W. Sned
den, died here Monday after a
long illness.
Snedden, a field veterinarian and
meat inspector for the Department
of Agriculture, had made his
headquarters in Spokane for more
than 50 years. He retired from
the servitfe in 1951.
He is survived by three sons and
two daughters, C. W. Snedden,
publisher of the Daily News-Miner
at Fairbanks; John and Kenneth
Snedden, Vancouver, Wn., and Mrs.
Lorna Jean Ludwig and Mrs. Eliza
beth Janssen, also of Vancouver.
Born in Scotland in 1883, he was
the husband of Alta Snedden.
Funeral services were held at
10 a.m. today at Hazen and Jaeger
Mortuary in Spokane. Interment
was in Vancouver.
SLEEPS IN IGLOO . . .
STOCKBRIDGE, Mass. UP) —
Robert Chassell, 16, says he has
been sleeping in an igloo each
night ever since he and his father
built the 5-foot-high snow hut out
side their Stockbridge, Mass., home
New Year’s Day.
Robert has slept outdoors every
night for the past five years ex
cept for a few days when he was
ill. He says an igloo makes a very
cozy bedroom. For instance, on a
recent night when it was 8 de
grees outside, it was comfortable—
for Robert—23 inside the igloo.
fact interest and must be reported
as interest, not as dividends.
When husband wife jointly own
stock and file a joint return, they
can exclude the first $100 in di
vidend income from their return
on 1040 or 1040A.
When they hold stock separately
and file a joint return, each can
exclude no more than the first $50
of dividends each receives. This
can be done on 1040 or 1040A. Ex
ample:
The husband receives $85 in di
vidends, the wife $35. He can ex
clude only $50 and she can exclude
only $35.
If you receive dividends you are
also allowed what is called a di
vidend credit in addition to ex
cluding the first $50 of dividends
from the income you report. This
means besides excluding the first
$50 of your dividends, you can
take a credit of 4 per cent of the
rest of your dividend income.
You can’t do it Qn 1040A. There’s
no place for it. You must use 1040.
You’ll need B if you had divi
dends or interest or if you had
income from rents, royalties, pen
sions, annuities, partnerships, es
tates, trusts, and so on.
You’ll need C if you were self
employed or had income from a
personally owned business or pro
fession. You’ll need D if you had
income from the sale or exchange
of property; and F if you had in
come from farming.
Those using these various sched
ules will, of course, also have to
use that main sheet of 1040.
Next: Rates in your favor.
Dial 2217
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European Tourists
Flock to Florida
MIAMI BEACH. Fla. — A
party of 629 European tourists
loaded with curiosity, cameras and
cash, set out today to see Florida
and the United States.
Travel bureau officials estimate j
the group will spend half a million
dollars in this country.
Represeting nine European coun
tries, the tourists will fan out
across the United States by bus, j
plane and automobile after spend- |
ing from two days to a week in |
Florida.
The party arrived at nearby Port
Everglades yesterday aboard the
SS Hanseatic, the first big payoff
for south Florida from the White
House’s “Visit U.S.A.” program to
reverse the dollar flow.
The group includes 472 from
Germany, with others from Fin
land, Denmark, Sweden, Italy,
Greece, Switzerland, France and
Belgium.
They will spend an average of
10 days in the states, and visit
such cities as New York, New
Orleans, San Antonio, Washington
and San Francisco. They they will
fly back to Europe over the North
Pole.
IN THE SUPERIOR COURT
FOR THE STATE OF ALASKA
SECOND JUDICIAL DISTRICT
N. 62-25
SUMMONS FOR PUBLICATION
JUNE McCONNELL, Plaintiff,
vs.
JAMES McCONNELL. Defendant.
The Governor of the State of Alaska
To: The above named defendant,
greetings:
YOU ARE HEREBY REQUIRED TO
APPEAR in the Superior Court for the
State of Alaska, Second Judicial Dis
trict, at Nome, Alaska, within thirty
• 301 days after the last publication of
this summons, namely within thirty »30<
days after the 20th day of March, 1963,
in case this summons is published, or
within forty • 40 > days after the date of
its service upon you personally, and
answer the complaint of the Plaintiff on
file in said Court in the above entitled
action.
That the Plaintiff in said action de
mands the following relief, to-wit: For
a decree dissolving the bonds of matri
mony now existing between Plaintiff and
Defendant; that Plaintiff be awarded the
care, custody and control of the minor
children of the parties hereto; that De
fendant be required to pay to the Plain
tiff an amount adjudged by this Court
for the care, support and education of
the minor children; that Plaintiff be
awarded the following property: as set
forth in complaint; that Defendant be
ordered to assume the indebtedness to
the Miners and Merchants Bank, Kot
zebue Branch, in the amount of approxi
mately $2,000.00; and for such other and
further relief as to the Court seems
just and meet in the premises.
And in the event you fail to appear'
and answer, the Plaintiff will take judg
ment against you for want thereof, and
will apply to the Court for the relief de
manded in her complaint.
WITNESS the Honorable Hubert A.
Gilbert, Judge of said Court, and the
seal of said Court hereunto affixed on
this 28th day of January, 1963.
• Seal) Grace Herman, Clerk
Pub: Jan. 30, Feb. 6, 13, 20, 1963.
Dial 2631 For
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Service
Sen. Gruening
Calls It a “Giveway"
WASHINGTON UP) — Sen.
Ernest Gruening described Monday
as a giveaway, patent waiver regu
lations proposed by the National
Aeronautics and Space Adminis
tration.
He said the proposal is contrary
to congressional policy and the
best interests of the country.
He testified at a public hearing
held by NASA on its proposal to
give its administrator more dis
cretion to assign patent rights for
inventions to firms which devel
oped them under government con
tract.
The government presently holds
such patents except in rare cases.
Gruening said NASA’s proposal
would increase monopoly in space
age contracts and bar new firms
from entering the field.
No case exists, he said, for al
lowing the wholesale waiver of
patents “in view of the huge tax
payer investment in this research
and development.”
He noted President Kennedy has
asked Congress for more than $6
billion for space activities in the
fiscal year starting July 1.
Congress wants the government
to hold patent rights to inventions
developed with such funds because
they represent a public investment,
Gruening added.
IN THE SUPERIOR COURT
FOR THE STATE OF ALASKA
SECOND JUDICIAL DISTRICT
NO. 62-4 P
ORDER FIXING TIME AND PLACE
FOR HEARING FINAL ACCOUNT
AND PETITION FOR DISCHARGE
In the Matter of the Estate
of
SIDNEY CHAMPION, Deceased.
ROBERT W. OLIVER, Administrator
W. W. A. of the Estate of Sidney Cham
pion, deceased, having filed in this
Court his Final Account and Petition for
Discharge, praying that a day be ap
pointed for the hearing thereof, it is
hereby
ORDERED that the said Final Account
be heard before this Court in the Fed
eral Building at Nome, Alaska, on the
26th day of March, 1963, at the hour of
2:00 p.m., when and where all persons
interested in said estate may appear
and show cause, if any they have, why
said account should not be settled: and
at said hearing the Court will determine
what persons are to take the estate; it
is further
ORDERED that notice of said hearing
shall be given by publication of a copy
hereof, once a week for four consecu
tive weeks, in the Nome Nugget, a news
paper of general circulation at Nome,
Alaska.
DATED at Nome. Alaska, this 22nd
day of January, 1963.
/s/ Grace E. Herman,
Special Master of Probate
Pub: Jan. 23. 30, Feb. 6, 13, 1963.
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