IRS Computation Option For Your 1980 Tax Filing
The IRS may compute tax liability for you using Form 1040 or 1040A if your adjusted gross income is within limits and you meet conditions. File by the due date, provide name, address, SSN, occupation, and fund the form correctly. Joint filers must show each income separately and sign. A refund or bill is issued after calculation, with 30 days to pay avoiding penalties. You may revoke this election by filing an amended return later.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
IRS
How to Donate $1 to the 1980 Election Campaign Fund
The text explains you can designate $1 of your tax to the 1980 Presidential Election Campaign Fund by checking the box on your tax return. On joint returns both spouses may make the designation.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
Tax changes on capital gains and losses for 1978
The 12 month holding period determines long term capital gain treatment for 1978. The 90 percent deduction was raised to 60 percent after October 31 1978. The annual loss offset increased from 2000 to 3000 dollars. A sample: buying land in March 1978 and selling in December 1978 yields a $4000 loss, with $3000 offset allowed this year and any excess carried forward. IRS publication 544 provides more details.
MENTIONED IN THIS ARTICLE
IRS
Forms Distribution Center
Atlanta
Georgia
IRS Publishes Free Tax Guides For Public Use
The IRS offers more than 90 free publications to explain tax law and help answer questions. Publications cover topics from individual income tax to abroad, small business, dependents, medical expenses, home ownership, and older Americans. Contact forms distribution or call 1 800 241 3860 for orders or information.
MENTIONED IN THIS ARTICLE
IRS
U.S
Atlanta
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