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The clipping this text was read from
The clipping this text was read from

Rapp-Chats

By \\. H. Lyne Extension Agent, Agriculture

W. J. Nuckolls, Jr. Tax Expert, Agriculture Extension Service advises: “For several years farmers have filed a claim form 2240, during the period July 1 - September 30, for a refund of federal tax on gasoline used on a farm during the fiscal year ending June 30." “This letter is to call your attention to the fact that farmers will no longer receive forms and instructions from IRS for filing and claiming gasoline tax refunds. For periods after June 30, 1965 gasoline tax refunds for gasoline used for farm use or other non-highway purposes are to be claimed as a credit against tax when the farmer’s or other user's annual income tax return is filed. This credit will be treated like a credi for taxes withheld on wages with any amount in excess of tax liability on the annual return paid as a refund. This does away with a separate annual claim for refund.”

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