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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Ottawa Herald
Location
Ottawa, Kansas, United States of America
Date
Jan 30, 1995
Page
7
The article explains how to determine if Social Security benefits are taxable for the year. It describes adding taxable income with adjustments, including half self employment tax, then adding tax exempt interest and half of 1994 Social Security benefits. It outlines base amounts for different filers and how tax is computed if totals fall within certain ranges.
Tax rules explain how to determine taxable Social Security benefits using base amounts and steps. It outlines comparing Step 1 to base amounts, computing fractions, and choosing the smaller of Step 3 or 85 percent of Social Security for Form 1040 lines 20b or 13b, noting 1040EZ may not be used if any benefit is taxable.
Assistance through the Tax-Ride Program of AARP supports residents 50 and older in Ottawa and Franklin County. Trained volunteers, certified by the IRS, will help 1 to 5 p m Wednesdays at East Central Kansas Area Agency on Aging, with at home visits for those unable to travel. The service runs until April 15 and requires bringing past returns and income documents.
The earned income credit program has about 21 billion dollars for workers this year and for the first time childless people can qualify. Childless eligibles can receive up to 306 dollars while families with children see higher maximum credits of 2038 dollars for one child and 2528 dollars for two or more children, as two supplemental credits were discontinued.
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