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Newspaper Archive of
The Malakoff News
Malakoff, Texas
Lyft
January 8, 1981     The Malakoff News
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January 8, 1981
 

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tmmmmm m 4--The Madmkoff News, Thursday, Jan. 8, 1951 i i i i i : (Firlt in a =erie= of tax tip articles course is sponsored by the East Texas calling the IRS forms/tax information Even if you don't think you'll itemize VITA volunteers serve any taxpayer wait until you receive it before you ~__., provided by the East Texas Chapter of Chapter of the Texas Society of Cer- number listed in the telephone direc- deductions, keep receipts or records on who has a basic return and needs the amended return. the Texas Society of Certified Public tiffed Public Accountants in tory. Here are some tax "tools" to get expenses that are tax deductible. A list assistance, but feels he or she cannot 8. Identify your payment. If you h~rPrig Accountantl) cooperation with the Internal Revenue. you through the Job of taxes with of the most common deductions is in afford a professional tax preparer, a balance due, always pay by checklaSt d Most chores aren't hard ff you've got Service. The informal two-night course maximum ease: your tax instruction book. Sometimes Tax Counseling for the Elderly is a money order. Never send cash wittieSday the right tools With proper study of the will be offered on (Tyler) Jan. 13 and I. Be organized. Starting in January, we get financial surprises that suddenly similar service for taxpayers who are tax return. instructions, and perhaps people to turn 15; (Longview) Jan. 27 and 29; (Lufkin) keep tax records, even ff you think of make it advantageous to itemize deduc- 60 or older. The volunteers are specially On the face of the payment, write ends to for advice, you can usually handle Feb. 3 and S from T-10 p.m. yourself as "just an average tax- tions trained to handle tax matters Stupor- tax form number and the year Pg h anytask. More than 30 CPAs will volunteer payer." Keep all your wage statements If you already know that you will do tant to older Americans. which you are paying and, especi Irner t. Taxes are no exception. The instruc- their time to provide taxpayers with in- (check stube) tngether. They're useful something that will make it beneficial Information on VITA and Tax Coun- berI yurpaym is P tedf " l nmportant'yur: lals:ecaurritynt re r tions that come with your tax package structions and question-and-answer to check the accuracy of Form W-2, to itemize, good records are doubly ira- seling for the Elderly locations is should answer most of your questions, sessions The program is open to the "Wage and Tax Statement," you get portant available by calling the IRS forms/tax you e ur , there will be no prob @ Your quotations concerning 1980 tax public at a charge of $1 per parson to your employer in January. They're in- 2. Start early. Even if you plan to file information number, getting them together again wougl returna will be answered at the "Taxes cover administrative costs, valuable if you don't get your W-2 for later in the season, look over the tax in- 4. Read the instructions. Most of your 9. Sign the return. A return with~ of n~ and You" program. This public service Advice is also available free bysome reason, structions, forms and your tax records questions are answered in the tax in- signature is not a properly filed ret enas in January. structions, which follow the sequenceof and cannot be accepted as a lejna Ed You may find that you need forms not the tax return. Tax instructions are now document, ow t included in your tax package or you easier to read and understand and are The Internal Revenue Service Cen tlred might discover that you're missing an in less technical language than ever will have to contact you for y~and important receipt. Whatever the case, before, slgnature, a sure way to slow doters, gratt if you require additional documents Most forms are designed so that if refunds. Remember, on a joint retu~ . This S d y ight (J 10) before you can prepare ~/pur return, it's you take tbem line by line, readingand beth husband and wife mnst sign. ~on,= atur a n an a lot easier to allow a couple of months following each line carefully, the form Each signature must be original.~U~;( than to wait until you're up against the will lead you through itself, you file a photo copy of a return, be s~;.In The Crossover Band deadline. ' Careful readingisthekey. Amissed to sign after you make the copy. r nar This is particularly true if you find line or a figure carelessly placed on the IO. Use peel-off label and coded ~nent you need to contact an employer, a wrong line -- say, your wages on the line velope. The peel-off label is on the co~.eth financial institution or a place of that asks for interest -- can result in in- of the tax package you get in the m~crag ,~ .... Wi], _ rvourenjoyment! of your refund. The coded envelope is inside t[cRYl convenience to you or a possible delay package. r~ew l'be here fo business for a copy of a document, ' because you have no control over the Both are designed to speed ~e.ei speed with which they'll respond. 5. Check back over basics. No matter s Ior how careful you think you've been, processing. Using the label ehmlna~ h- 3" Take full advantage f available recheck yur whle return befre yu tw f the rest cmmn causes Coming:Friday, Jan 16t free help. Free information and fileit, refund delays -- illegible names or ~ng g dresses and incorrect social securi~P wi: i!lbeback! assistance are available from IRS by One of the most common errors is numbers. ~VKbYt High Spi "tsw" c.,,,., the forms/tax information caused simply by copying the wrong ri number listed in the telephone direc- dollar amount from the tax table. Be If your address has changed, tt. art tory. The IRS also has more than 90 free sure you are reading from the correct correction should be written on .Oli% Vou're in foranenjoyable evening at the ~ publications available. Use the order line and column, label. If the social security number ..... ds Auc form in your tax package ta obtain any Double check for math errors and incorrect, contact the IRS for mrecu and of these. Your public library may have transposed numbers. It's easy to write before you file your return:S F li'qlllll[ T step-by-step tax instructions available 417 when the correct number is 147. Wait until you have the final copy,' .unc pelr c on cassette tape, prepared by the IRS. A few minutes spent checking ac- your return prepared before you put . Many communities have free tax curacy is worth your while. Errors the label While irsa "peel-ofr' label,! Bdl ' nt, v assistance available at VITA (Volun- cause you inconvenience and may even only peels off once. If you choose to hi .r teer Income Tax Assistance) sites, result in a bill for more tax or a delayed a tax preparer insist that he or she nay s 1 I 1 refund, the IRS label, too. _ W 6. Check attachments. You may use 11. Choose a preparer carefully. Mo~ . Jl"' ~ [ 'II,! IIt additional forms or schedules, such as preparers maintain high professiodngt! Schedule A for itemized deductions, standards of integrity, but you n~J ![ehe I Make sure your name and social be waryofthefewwhodont. Reme auar i -. . tmg i iiillilli ti:ittl'llll security number appear on each and ber, no matter who prepares me rein iIIIII, IP that all of them are attached to the you are legally responsible for its c , return, l~arr tents, of ; '~lllli h,4 It's easy to omit an additional form or Some things to look for when choosK .,J ter ( J, p~, II schedule and such an omission can a preparer are" " ndy delay the processing of your return. At- (I) He/she will complete the 'illllililil; tach your schedules in alphabetical or- Preparer's Use Only section at the l~r~n~] der and your forms in numerical order. -.n t ~ tom of the return You get a copy ofU1 .. Use a stapler, if possible. Paper clips or " ue return which contains that informatite _. folded corners are not secure ways of (this applies only if you pay this perSvis,~:. attaching things. Be sure your W-2, "Wage and Tax to prepare your return). (2) Be very cautious of anyone w!e as Statement," is securely stapled in the claims a special relationship with tined place marked for it If you had more IRS or who "guarantees" refunlnain ....... than one employer, be sure you have a before seeing your tax information. ,=sts iz 'nu W-2 from each one. If you do leave out That' right- with Our. nterest/Checkin account you continue to pay bills with convenient check. E;ut pay you interest on the Now yOu can earn iu l:,,=rest on money thatneverearne t ittte res!l fore! I re= t/'l ;h,:cknn led= ~tm- I~=~1 to $40.000 flilNSAt 01~0$11' ,NSUlaNCI 011~o0~ ) (3) Many reputable preparers wdDay only during the filing season. Howev'Tom~ you should be able to find them at aten, E time of the year in case there isWalIa question about your tax return, of any of the required attachments, wait until the IRS notifies you. Then send the requested document back with a copy of the notice. 7. Late W-2s. If you worked for more than one employer, be sure you have Finally, mail the return (or have ~'. M1 received W-2s from each before you preparer mail the return) as early/am, rlln( prepare your taxes, possible, particularly if you want an If you find you omitted incomequick refund. T" re - ,- ne because you filed before all your W-2s Remember, good records a the K~s arrived, you will need to file an amen- ~ am to everything' in taxes. If tYou are i' ded return, Form 1040X. If you have a keeping' 1981 tax records ye, now s , ~uc'-" ' refund coming from your original form, time to start. Ral in rid, F ~' OV( eld, T ', at tl Did you know there are two and-a- Ohio, they say, "Pleasesent me.ev nncdea}' half times more miles of oil and gas thin there is abet Texas. i am wrizinSbn ,o pipeline in Texas than road miles on the theem." ,~er ""i state highway system? Or that Texas With a T,,=s F,,,t, folder, the lit~;~, o~ coal mining mushroomed 12-fold in nine rascals should pull down straight "A'~e;up years, but none of it was sold? .~v nm not counting a few points off f~to For those who mine nuggets ofspelling." pu i~ln a miscellanea, it wouldn't be surprising But with this edition, a few the~., se] that such tidbits may be gleaned from writers in custody of a particularly pdrr :. - - - rett l government publications, but these smckety pedagogue may be in troubl h weren't laboriously dug from vast "Bilhe' Jean, why does your do ' statistical tomes. They're right on the say the highest point in Texas is surface of a little one-sheet folder feet when my reference says 8, nd called whose latest edition has feet. Bflhe Jean sxmply won t '- just been released by the State Depar ..... } prepared to respond, Because YO%i d_ tment of Highways and Public Tran- reference is wrong " i~ C;~a' , " ' '-,.d sportation. There wash t room in Po ,, t, to el,e . ' ~ ral How come 27.5 million tons of Texas plain why Guadalupe Peak has aL I" lignite were mined last year, but parently shrunk two feet Since av atF. lr weren't marketed? Because the miners 1933, every map, every almanac, eve .te were the users -- utility companies who geography book has proclaimed tl~.~ scraped it up and chinked it in their highest point m' Texas to be, 8,751 feet n v r!, um furnaces to generate electricity. . milhons of times m print. Until the %rs The little folder is a jewel among its S. Geological Survey came along wil['o2Y: [UC kind. Sample the fact that Texas covers their new radar-laser transits, or ' 275,418 square miles, enough space to such incomprehensible gadgets include 15 of the 50 states within its bor- ' ' , ear "If we d known what results th s , ders and still have a thousand square werer going to publish," say the folka miles left over. That's a bon mot every the highway department, "we'd haw ..... Texan should have in store for cocktail carried a two-foot rock up on top party repartee. Guadalupe Peak{" Or when the talk gets serious about Too late now. Poor Billie Jean. ,iron Texas oil millionaires gouging For a free copy of 2 o ~.~. wri%._" ..... :^.,~ ~ ~tlrl everybody who isn t one, gaze at the Texas, Dept DHT, P 0 Box t_ " " " ~ 1 ceiling and murmer that Texas oil Austin78763. brought $12 a barrel last year while OPEC oil cost $24 to $30 per barrel, and Texas ain't holding Yankees hostage to jack up the price. Why should the highway department be printing information about 9.3 million pounds of mohair clipped from Texas Angora goats? (It brought better than $47 million! ) specialist. Well, the department is in the tourist Instead, save energy by rinsing business, and tourists are absolutely cold water and adjusting the wal fascinated with Texas facts. How about level setting to match the load size, all those Texas oil wells and ranches? says. . , The folder tells'era. Mrs. Piernot is on the For that matter, the department alsoeconomics staff of the Texd has discovered that far-flung classroom Agricultural Extension Service, geography teachers are prone to lay on Texas A&M University System ., Texas theme assignments. UsuallySince its inception fifty years ago, Refri arriving in batches of about 35 letters Veterans Administration hospital n~, Wage representing an entire junior-high klat- work has grown from 54 hospitals to l ~ TV's ch in Dubuque, Iowa, or Middletown, medical centers. FEED . SEED . SUPPLIES FARMERS & RANCHERS SUPPLY KENNETH LEWIS CALL COLLECT 214/396-2881 OR OWNER WEST IMY. 31, KERENS 396-2282