Form Ir - Income Tax Return For 2007 (Page 2 of 2) in pdf

PAGE 2

NEED BE COMPLETED ONLY BY THOSE WHO HAVE OTHER TAXABLE INCOME THAN WAGES OR

WHO CLAIM EXPENSES AS A DEDUCTION FROM SUCH WAGES

13. PROFIT FROM ANY BUSINESS OWNED (ATTACH FEDERAL SCHEDULE C).................................................................... $ _____________________

14. RENTAL INCOME (ATTACH FEDERAL SCHEDULE E)...................................................................................................... $ _____________________

15. OTHER INCOME (ATTACH APPROPRIATE FEDERAL SCHEDULE)

SEE INSTRUCTIONS BELOW................................. $ _____________________

16. TOTAL OTHER INCOME (LINES 13 THRU 15)................................................................................................................. $ _____________________

A. NET LOSS PER PREVIOUS CITY INCOME TAX RETURNS............................................................................................................................... $

_________________

B. TOTAL OTHER INCOME................................................................................................................................................................................. $

_________________

17. CREDITS

A. DEDUCTIBLE EXPENSES (ATTACH IRS FORMS OR OTHER STATEMENT)................................................................ $ _____________________

B. NON-TAXABLE INCOME: (EXPLAIN) __________________________________________________________________________________________________

___________________________________________________________________________________________________________ $ _____________________

C. TOTAL DEDUCTIONS.................................................................................................................................................................................... $ __________________

18. NET OTHER TAXABLE INCOME OR DEDUCTIONS (INSERT IN LINE 2 PAGE 1).................................................................................................... $ __________________

INSTRUCTIONS

FOR COMPLETION OF LINES 1 THRU 18

1. Should be the total of all wages received. All W2’s must be attached. If you want them returned, please advise.

2. To be completed only if you are required to complete page 2. NOTE BUSINESS LOSSES MAY NOT BE USED TO OFFSET WAGES

NOTE: CONTRIBUTIONS TO IRA & KEOGH ACCOUNTS NOT ALLOWED

If using this form for a municipality having a different tax rate, please change the rate shown.

If tax due is less than $1.00 no payment required. A & B to be completed by Tax Office only, when tax has not been paid on time.

Unless the space is checked as indicating a refund, your overpayment will be applied to your next year’s estimate.

If the overpayment is less than $1.00 no refund will be made nor will there be a carryover to the next year..

Insert the amount of income you expect to make this year.

9. Line (a) should reflect the amount of tax withheld by your employer for this City.

Line (b) should correspond to the figure shown on line 7 unless a refund has been requested.

Line (c) refers only to income taxes you expect to pay another municipality.

11. You may pay the entire amount declared with the filing of this form.

13. If you discontinue as a salaried employee and intend to continue in business only, please advise in order that you may be sent a business form in the future.

This also applies to lines 14 and 15.

15. Retirement income as well as interest and dividend income not taxable.

17. A

Credit will be allowed only when a W-2 is attached and all expenses must be substantiated by proper schedules.

UNLESS ACCOMPANIED BY PAYMENT OF THE BALANCE OF TAX DECLARED DUE (LINE 6) AND AT LEAST 22.5%

NOTE:

OF THE ESTIMATED TAX (LINE 10) THIS FORM IS NOT A LEGAL FINAL RETURN OR DECLARATION

DECLARATION AND RETURN PAYMENT CALENDAR

APRIL 15,

JULY 31,

OCT. 31,

JAN. 31,