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Publication: European Stars and Stripes Monday, February 22, 1988

You are currently viewing page 7 of: European Stars and Stripes Monday, February 22, 1988

   European Stars And Stripes (Newspaper) - February 22, 1988, Darmstadt, Hesse                                Monday february 22, 1988 the stars and stripes Page 7 even the experts baffled by new fax Low Washington a if you re confused by the new Federal in Law you re in Good company. Sume tax . Including in disc working for inc  Revenue service Don 1 seem to under stand it much Heller. A new Oncal accounting office stud to he re cased 1  found Hal irs employees whose Job n to Lake questions by Telephone Ore giving wrong answers cd n More often than a year ago when Llu in accuracy rate was Only 79 percent. Informal spot checks of inc 4.500 irs avs slots foul thai despite a  Citon by tin Agency in aim ale its rep la pcs Aboul he new Law the changes nuclei in i9sg Are so far reaching Hal one third to one half the anew hrs in specific questions Are wrong a or example. The Wall Street journal posed an individual retirement account question 10 five irs Ollices mine gut Hie right in Sci. List Ihnn the Cert Public account lands who dreamed up 1hc ques Tion came up Wilh the wrong answer too. Money Magazine asked 50 professional tax pc parcs to calculate what ,1 hypothetical family owed in lanes. The results so different answers ranging from $7.022 to a 1,881. The pc parcs arc still Uncertain about the no. Ancus of the new la Law Money concluded in n Story in its March Issue. In cases where inc Law itself is unclear. The pros Are making up rules of their own Hal differ greatly. "1 to lax preparers even inc most expensive ones Are uni immune from nuking careless mathematical mistakes the report said older professionals agree. The simplest questions these Days require an inn Dianic amount of research said Janice m. Johnson a partner in a new York accounting firm. We Don t have the guidance we need on inc new Law there is not enough published information. We re basically idling our clients the risks they face if we take one approach and inc risks with an alter native and Ihen they decide which Way to  taxpayers who in Pasi years were Able to a Guain themselves Wilh comparatively minor in changes and do their own returns arc unable la in that Wilh the new Law said Al James Tolaio a former irs Public affairs director who holds a similar Job with or blues although n thorough training program has made blocks 40.000 return preparers As ready to Deal with the new Law As any professional. Golsto said peo ple arc going to make  one thing we can Sec already is this he new Law is not simpler by any Means. Change itself causes uncertainly but when you make an Clr ordinarily thorough change in the Law. You get  financier accused of plotting to shoot Boesky .   
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