Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 3 · column 3 of 9 · from the scan, no model involved
New Way To Claim
Gas Tax Credit
J Farmers will lose any Federal gas and lubricating oil tax credit if their income tax returns are not filed on time, District Director James P. Boyle, said today.
i Mr. Boyle said that farmers
Jwho use gas in their farming operations and lubricating oil other than in a highway motor vehicle are entitled to the credit. It amounts to 4c for every gallon of gas and 6c for every gallon of lubricating oil so used.
Power boat owners and other users of gas and oil for nonhighway purposes are also entitled to credit. Their credit is 2c a gallon on gas and 6c on lubricating oil. Form 4136, Compution of Credit for Federal Tax on Gasoline and Lubricating Oil, should be used to compute the credit and should be attached to their income tax returns.
Before this year, non-highway users of gas had to file a separate claim for a refund of the Federal Gas Tax Paid. Now they take a credit on their tax returns against the amount of income tax otherwise owing.
The law also provides that the user may file a claim for refund for any of the first three quarters of his tax year if his claim amounts to $1000 or more for such quarter. For purposes or the $1000 test, the claims for gas and lubricating oil must be computed separately.
84.7%