In a friendly display of good sportsmanship, the Internal Revenue Service last week published a booklet telling the U.S. public how to calculate income taxes at the bare legal minimum. The 25¢ booklet (Your Federal Income Tax: 1955) gives advice on almost every problem the average individual taxpayer is likely to face. Samples:
¶ Television quiz prizes are taxable as income, but most prizes awarded for past achievements, e.g., Nobel and Pulitzer Prizes, are not.
¶ Cash donations to the Red Cross are deductible, but the value of blood donated is not. Also nondeductible: donations to a chamber of commerce.
¶ A...
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