European Stars And Stripes (Newspaper) - February 18, 1987, Darmstadt, Hesse Facts on taxes no More hit and miss on w-4 forms associated press the internal Revenue service a slurred a iwo Page w-4 lax Wilhoft Oldig Normand worksheet into Lour pages Hal includes a22 column. 29-line table of figures we know Hal his looks like in might be Arthur Altman of the iss said As the Agency began a Campaign to make americans aware of the need to file a new w-4 torm by next ocl. 1. But the payed. Altman added to a More personalized form that will allow Mes workers to adjust withholding so tha All their tax a Bizily no More and no less is withheld during the year 1 no More Fitl and miss said irs commissioner Lawrence Gibbs a simpler form might be More popular now Bui the positive reception would be Short lived indeed come january 1988 when so Many lax payers would learn i hey owed thousands More in lanes and. M some cases penalties As the tax overhaul Law. Which took effect Jan. 1, cuts la Rales repeals some popular deductions and reduces others a worker whose lax withholding under pc Send in is reduced because to or she lakes same of Whoso deductions is Likely Lobo under withheld in 1987 by the loss of Iho deductions a person who does nol have enough tax withhold during Iho year has to Send the irs a chock when filing a la return in the following year it the under withholding is serious significant penalties can result. Although the Law requires Only that a new w-4 be mod by ocl 1, she irs said most workers would be better off filing As soon As possible Starling Jan. 1, la is will be withheld on the basis of me old w 4 until a new one is filed to Fili out the form workes will have to estimate whal and ust meals such As individual Relief men account contributions itemized deductions and tax edits they will have under the new Law Lor 1987. For the three quarters of taxpayers who receive refunds each year la is withheld and owed Are out of balance irs officials said the new w-4 will allow la payers to bring the two More closely into balance. More than Hall of All workers Wim be Able Load us Erma Bombeck processing tax returns the new four Page w-4, which must be filed by ocl 1, will allow most people to adjust withholding so that All their tax liability no More and no less a withheld during the year. Up photo withholding Wilhour any calculations Al All on the new torm Allman said. A worker May claim one withholding allowance each for self spouse and each dependent a special allowance will to permitted a single person with Only one Job a married person who has Only one Job and a non earning spouse or a married person whose second Job earnings or spouse s earnings total 12,500 or less in 1987. One allowance will be Worth $1,900, he value of the personal exemption under the new Law. That moans Hal for each allowance claimed. $36 54 of a worker s weekly wages will be exempt from withholding the now form gets More complicated for those Wilh a working spouse More than one Job or a significant amount of non wage income. And it will be More complicated still for those who i Lemiec deductions claim a tax credit take 1he special now deduction for being 65 or Blind or those Vith deductible iras business expenses moving expenses or of her and us ments. Workers who want to be absolutely sure thai enough Money is withheld through tha year including those who count on gelling a refund As a Way to ores savings May avoid most of the trouble and simply file a w-4 claiming Zero allowances. Fads on taxes series concludes with More articles in stripes daily Magazine on Friday. It in t anything you d put on a resume but a men s skin care product manufacturer just came out with the peaches and pits Hal if you re Given to sending cards to winners of Good and bad skin David Lel Tarman headed the peaches list and Moa mar Gadhof topped the Pils group. The Man does t have enough on his mind. Now he has to worry through a Case of prom anxiety watching lists is probably one of the most shallow Ihms i do. I have a curiosity about who starts them who gets on them and How being on them affects their lives. I have come to Trust no list Hal does not have Bill Cosby s name at tha lop of it i would t believe the ten top nursing mothers of the year if Bill Cosby s name was t on in. Last year alone he was named to the lists of the Best Page 16 the stars and stripes dressed most watched men in America most admired most popular entertainer most recognizable most honoured most kissable tips and everybody s favorite husband he has to be asking himself. So whal s wrong Wilh my skin the list i really love is the one where children Are asked to name people they would like to have As parents ,. People they Admire. I know the first names thai come to mind Are the people who feed you wipe your nose loan you Money Wash your underwear drive you to Ball practice hold your head when you throw up and list you prominently in their wills. Mom and dad right wrong a group of 9-year-Olds, when asked to name their dream parents came up Wilh Cyndi Ouper Michael a Fox Mary Lou Fieldon Mary Docker Slaney and. Wednesday february 18,1987 you got it. Bill Cosby. Some Ihms Are always Prelly predictable about lists. The women on the Best dressed list Are always a group of new yorkers no Ona Ever heard of and Are built like Ball Point pens. The most admired woman will invariably be whoever is first lady and the reasons for her selection will be vague. Mother Teresa gives any list credibility even in she has to be to. 7 on the Best dressed the women on the Fortune 500 richest people in the world list never Cany handbags. Everyone you talk to says the thing they Admire most in a person is but these same people vote for Brooke Shields. I have Only lopped one list in my career. In 1985.1 was named the most Boring woman in America. I tried to Lell a lot of people about it. But. They Tell asleep. A lot Angl Tuoi Timai s
