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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jul 14, 1971
Page
2
A local IRS column explains that not all provisions of the Tax Reform Act of 1969 are in effect. It notes upcoming increases in personal exemptions to 650 in 1971 700 in 1972 and 750 in 1973 and mentions further standard deduction increases. It also advises taxpayers on appealing a disallowed deduction by requesting another IRS contact.
The document presents IRS guidance on selling a home with deferral of gain taxes, basis adjustments when buying a new residence, and penalties for underpayment of estimated taxes. It includes a sample Q A format explaining when tax gain is taxable, how to adjust basis, and conditions under which penalties apply, plus references to Publication 523 and Form 2210 for details.
The county library announces the reissue of The Tiger in the House by Carl Van Vechten, praised as a cat bible by Spectator and Evening Post. Also highlighted is This Is My Best, a 1000 plus page collection from Whit Burnett editors, and a note on The Spanish Bridegroom by Jean Plaidy, set in sixteenth century Europe.
Aiken area groups announce schedules for clubs and public bodies. The listings include AIKEN COUNTY BOARD OF COMMISSIONERS AIKEN CITY COUNCIL AIKEN COUNTY MUSEUM AIKEN ROTARY CLUB AIKEN DUPLICATE BRIDGE CLUB plus recreation programs at Virginia Acres Park and Walnut locations with times and contact numbers.
A 3.6 magnitude earthquake was recorded at 7:42 a.m. by the National Earthquake Information Center and felt in Walhalla Clemson Pendleton Seneca and Westminster with no damage or injuries reported. WGOG manager described a train like rumble lasting about five seconds and some reports of shaken walls and falling merchandise.
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