This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!
This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
Lompoc Record
Location
Lompoc, California, United States of America
Date
Mar 06, 1972
Page
7
The new tax bill lowers rates for single filers and expands the personal exemption and dependent credit. The standard deduction is increased to 13 percent of adjusted gross income with a $1500 ceiling, and the surcharge is eliminated. Married persons living apart may file as single.
The article explains which wage earners must file income tax returns, noting that many retirees part timers students and certain unmarried or separated spouses may be exempt. It details gross income thresholds by filing status age and the rule that self employed people with net income over 400 must file. It also describes filing to claim refunds and the W-4 E form to avoid withholding for those with no tax liability.
The article explains IRS dependent rules focusing on who qualifies. It discusses the joint return rule for a spouse, and how parental support and the child’s own earnings affect claims. It also covers income thresholds, exemptions for students and underage dependents, and guidance on savings accounts and reporting interest.
The guide explains deductible medical expenses for itemizers. It covers half the cost of medical insurance premiums up to 150, Medicare deductions for those over 65, and the 1 percent AGI rule with a 3 percent floor for other expenses. It notes exceptions for dependents and provides guidance on charitable contributions and non deductible gifts.
A guide to deductible taxes and interest on itemized returns. It covers real estate gasoline and state sales taxes plus personal property taxes. It explains using IRS charts for gas and sales tax allowances and notes footnotes and special cases such as local taxes and new home building material taxes. It also details deduction rules for interest including home mortgages business loans margin accounts and credit card interest with limitations on penalties and service charges.
The passage urges careful consideration of the Miscellaneous deduction category on tax returns. It lists potential items such as child care payments car losses unreimbursed work expenses union dues educational expenses alimony and unreimbursed entertainment expenses, noting limits and rules for deductibility.
We want people to find what they are looking for at NewspaperArchive. We are confident that we have the newspapers that will increase the value of your family history or other historical research. With our 7-day free trial, you can view the documents you find for free.
People find the most success using advanced search. Try plugging in keywords, names, dates, and locations, and get matched with results from the entire collection of newspapers at NewspaperArchive!
You can also successfully find newspapers by these browse options. Explore our archives on your own!
Browse by location and discover newspapers from all across the world.
Browse by date and find publications for a specific day or era.
Browse old newspaper publications to find specific newspapers.