European Stars And Stripes (Newspaper) - August 15, 1987, Darmstadt, Hesse                                Magazine social Security card a must for kids Tow is my Gary Kyff Sis jj0.35 till nos. By Jim Luther associated Pressy of be read about Iho irs seizing children s Bank accounts to Scute their parents Back axes 11 could happen to you unless you gut Hal child a social Security crud under the now lax Law. Every child Over 4 years old Musl Havo a social Security number and be listed on the tax return of 1he person who claims him or her As a dependent. Starting Wilh returns due Early next year. In the Waka of the most recent example of a child losing his savings la the irs. Iho tax collection Agency reminded parents of the new requirement and suggested that obtaining a social Security card would make less Likely the recurrence of such horror  Gary a Keller. 12, of Chesapeake. A. Broke into the news recently after he wrote a letter o president Reagan complaining that the irs had grabbed his $10.35 Bank account As part of the settlement of his parents Bill Lor Back taxes. To am now feeling distrustful of the United states government due to my financial devastation Iho seventh grader wrote. Gary s father Gary e. Keffer. Said his Bank whole him last week that he is had seized $700 from his account $7 from mrs. Keller s and $10.35 from the boy s to help satisfy a j90q dbl. The 1,-Ilher Wilh last instalment of Iho overdue taxes had been mailed july 1. But How did Young Gary s account gel lied up with his parents lax problems we opened up an account in his name bul became he does l Havo a social Security number i had to use mine Lor the account mrs Keffer said. The irs said privacy Laws prohibit it from discussing individual lax cases. However. Johnelle Hun for a spokesman at irs Headquarters in washing Ion noted thai a person with a 1ax delinquency is sent a series of four Sellers. Four or live weeks apart before Bank accounts or other assets arc seized. She added that a child s account Wili be seized Only if it is being hold in Trust by a Patent for the child or if it carries the social Security number of a Parent. When to file a Levy with a Bank she said to loll 1ho Bank we Are attaching the rights Lille and interest to an account bearing such a name or number. If Iho account is held by Iho Parent Lor the child it would be in the Parent s name and number and might to seized. Once the Parent proves in is Iho child s account. The Levy is released Hunter said. Gary s father discussed the Case with irs of dials in Memphis mrs. Kofler said and they indicated Hoy would Send my son a refund " itching to invest government booklets provide helpful info by Randolph e. Schmid associated Pressw Ith the Stock Market soaring regularly higher the itch to invest Money is spreading across America bul the choices and challenges lacing an individual can be bewildering. Will in be stocks or Bonds. Treasury nolo or commodity futures Mutual funds or a simple Money Market account handling Money is no longer the simple Choice of whal Bills to pay while hoping that there la be a Lew Bucks left Over to put away Lor a Rainy Day. But the fact Hal americans have More Money to invest and Are doing so Means there Are Shady operators waiting to skim off whal the can gel. As Well As honest advisers who make mistakes. Folks seriously considering investing need to collect All the information they can got in Advance and one Handy source of Bolh general and sometimes specific guidance is the . Government. The consumer information Cen Lef has available a variety of books and booklets on Money management topics Somo free some at a Small Price that will provide the individual with Good Starling advice before risking their funds. These booklets can be obtained by writing the consumer information Center dept. 3v. Pueblo Colo 81009. Among the choices available Are tie investors Bill of flights. Hem 611r. No charge. Compiled by the National futures Assoc Lalion this fold out pamphlet provides Brief general information on advertising disclosure of risks information for investors understanding obligations and costs truthful accounting and other questions. Wha t every investor should know. Hem h1r, $1.25. This 35-Page Booklet from the securities and Exchange commission discusses the basics of choosing where to invest Money. Trading securities and what protections Aro provided by Law. Understanding opportunities and risks in futures trading. Hem 443r, 50 cents. The commodity futures trading commission prepared this 45-Page Booklet to explain the commodities Market to the Novice investor what is a Mutual fund. Item 453r. 50 cents. The agriculture department s cooperative Extension service and Fidelity investments one of hip Roger Mutual funds cooperated to produce this primer on the funds. It discusses How Mutual funds Wix the different types of funds that Are sold and contains a glossary of terms used in the business. Investment swindles How they Woik and How to avoid them. Item 610r, no charge. This 20-Page Booklet suggests 16quesfions thai May help avoid being ripped off. A consumer s guide to Lile insurance. Hem 592r, no charge. Many people look Al life insurance As a form of investment and this pamphlet explains the different types of insurance sold and includes a glossary of commonly used terms the savings Bonds question and answer Book item 451r. 50 cents. This Treasury department Booklet explains How savings Bonds work including information on purchasing them the inheres a paid redemption and taxes. Managing your to Rejnal finances. Thio is a thee Parl publication compiled by the agriculture department s cooperative Extension service an Agency organized to help Rural families with information of All types. The set is designed for use in a three ring Bander and goes into considerable detail about All aspects of managing Money in the Home. The first Section. Mem 189r from the consumer information cent i. Costs $3.25 and is tilled principles of managing your finances ii explains How to assess your current financial status set goals develop a budget and carry it out it includes Handy fold out worksheets. Financial tools used in Money management is the second Section which costs to 50 and is sold As hem 190r. It talks about How to use savings investments credit and insurance to achieve personal financial goals. Finally part Htee is called coping with change it is item 191r and costs $1.75, this Section covers the financial considerations of planning for retirement coping with inflation and Tihor economic changes and in also contains worksheets the entire set can be purchased As item 195r for 16, saving 50 cents irom the Price of the three rooms bought separately saturday August 15, 19b7 the stars and stripes Page 13