The Salina Journal from Salina, Kansas on January 16, 1986 · Page 25
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The Salina Journal from Salina, Kansas · Page 25

Salina, Kansas
Issue Date:
Thursday, January 16, 1986
Page 25
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State law changes affect Kansas taxes TOPEKA - The Kansas Department of Revenue advises taxpayers that a' number of changes in the state tax laws make it necessary to read the instructions closely this year before starting to figure your taxes. Among the changes to watch for: • Federal tax deduction — The $5,000/$10,000 special limitation on the deduction for federal income taxes expired on December 31, 1984. Some people still will be required to prorate their federal tax deduction. • Medical deduction — Kansas law-now conforms with federal tax law in allowing certain lodging expenses as medical deductions. In addition, non-prescription drugs, disallowed as a federal tax deduction since 1984, will not be allowed as a state tax deduction on the 1985 return. •Social Security and railroad retirement benefit — A portion of social security and retirement benefits are taxable in certain situations on the federal income tax return. Any social security benefits included in your federal adjusted gross income will also be taxed at the state level in your Kansas adjusted gross income. State taxation of railroad retirement benefits is prohibited by federal law. Any railroad retirement benefits that have to be included in your federal adjust gross income should be subtracted when calculating your Kansas gross income. Kansas forms modified TOPEKA — In an effort to simplify the filing of state income tax returns, the Kansas Department of Revenue has made a number of noticeable changes to the forms and instructions. This year all taxpayers with less than $50,000 taxable income will use the same tax table to calculate their tax liability. This eliminates the need to figure out which of the four tables previously in the in-, struction book you have to use to arrive at a correct figure. Taxpayers with more than $50,000 taxable income will use a tax computation schedule in- stead of the tax table. The Form 40 has been revised for use with the new tax table, and the lines have been renumbered. This year, all taxpayers will use the Form 40. Due to the simplified filing instructions and the many restrictions on the use of the Form 40A, the Form 40A has been eliminated completely. The format of the state tax instructions has been revamped for easier location of specific instructions and for easier reading in general. This year all taxpayers will follow the same set of instructions to calculate their tax liabilities. The Salina Journal Thursday, January 16,1986 Page T5 Assistance available from state If you have questions about completing your Kansas income tax return this year, you may call or visit any of the three Kansas Department of 'Revenue Offices, weekdays from 8 a.m. to 4 p.m. In Topeka: State Office Building, 3rd floor, 913-296-3051 In Wichita: 434 N. Market St., Suite 100,316-267-7264 In Kansas City: 646 State Ave., 913-371-7350 If you would rather write, address all correspondence to: Kansas Income and Inheritance Tax Bureau, Box 12001, Topeka, Kan. 66612-2001. The Kansas Department of Revenue is not equipped to answer questions about federal tax. Federal tax questions should be directed to the Internal Revenue Service. Corporate filings need all forms TOPEKA — Corporate tax instructions require the attachment of many schedules to a corporate income tax return. While most corporations are complying by attaching the necessary-schedules, the Kansas Department of Revenue says that many are not. Missing schedules cost tax dollars because they cause processing errors^ and costly processing delays, and create -the need to contact the corporation for complete information. Schedules most commonly found missing include: 1. Taxes on or measured by income or fees or payments in lieu of income. 2. Interest on obligations of the United States. 3. Non-business income — total company and Kansas income. Classified ads get results. A VERY BRILLIANT DEDUCTION! Our I.R.A. 's provide tax shelters for ALL wage earners. •I.R.A. SAVES YOU TAX DOLLARS •I.R.A. helps make you LESS DEPENDENT on Social Security •I.R.A. is insured to $100,000 •I.R.A. can be used by ANYONE with EARNED INCOME. (Even if your employer is already providing a retirement program.) •I.R.A. can be opened with ANY AMOUNT •I.R.A. will provide a MORE COMFORTABLE future •I.R.A. lets your FULL INVESTMENT work for you. NO FEES or commissions are charged Let Us Help You Save For The Future. Bell Telephone Employees Credit Union 200 South Ninth • Salina, Kansas 67401 (913)823-9226 NCUA il Credit Union AdminiUriUon, i US. Cortrnmtnl Ajtncy

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