European Stars and Stripes (Newspaper) - January 29, 1992, Darmstadt, Hesse                                Page 18 a the stars and stripes wednesday january 29,1992 Money matters helping poor proves taxing Issue for irs by Albert b. Crenshaw the Washington Post Washington a the internal Revenue service is trying to figure out How it can get better at giving away Money. This May be a hard concept for Many taxpayers to grasp. Irs commissioner Fred t. Goldberg or. Conceded As much noting that a your Normal role is More  but Congress decision a few years ago to use the Agency As the conduit for Aid to the working poor has Given the irs a new and different task one that Goldberg expects to grow. A increasingly our Agency is being asked to delivery these sorts of benefits to people Goldberg said. And he wants the Agency to be As enthusiastic about handing out Money As it is about raking it in. But using the tax code and the tax collectors to help poor people has an inherent problem a Many Low income people do not file tax returns usually for perfectly Legal reasons and others such As illegal immigrants Are fearful that dealing with the Agency will Lead Law enforcement officers to them. In addition while filing for the Aid May be easy As tax paperwork goes it still May be a problem for people not used to dealing with tax forms and requirements. That makes administering Aid programs a such As the earned income tax credit a Tough. Though this credit which pays Cash to families with earned incomes below $21,250 last year can be Worth As much As $2,020 to a family Many people still miss out on it. To be eligible a family a or single Parent a must meet the income Standard and have at least one child who is under 19 years old or a student under 24 years or a child who is permanently and totally disabled. The children must have lived with the family for at least six months last year. The income test focuses on earned income. Benefits such As Aid to families with dependent children medicaid food Stamps and the like do not disqualify a family. The irs estimates that last year roughly 2 million families out of about 14 million eligible failed to claim the credit. This year the Law has been changed making More people eligible. And eco nomic conditions Are worse As Well. Thus the number of eligible families this year May be As High As 16 million. In addition state and local governments Are most anxious to funnel every Dollar they can into the hands of their citizens a who presumably will spend the Money boosting local economies. A at a time when the Economy is weak and there Isnit much Good news for hard pressed working families the earned income credit is a notable exception a said Robert Greenstein head of the Center on budget and policy priorities. The Center a along with the irs the United Way Volunteer service organization the . Conference of mayors and the Al Cio a is launching an information Campaign to Alert taxpayers to the credit. The credit is unique in the tax code in that it is  normally tax credits Are used to reduce a tax liability. But if the credits exceed the liability that a that. The earned income tax credit is different. If an eligible family owes no taxes or owes less than the credit they get the excess Back in Cash. A this is a Law that really does do Good things for working families a Goldberg said. The original credit was enacted to offset some of the social Security taxes working people pay and to give Low in come parents an extra incentive to work and stay off the welfare Rolls. It has been expanded regularly most recently in 1990. Most working families that earn $6,000 to $13,000 will get a credit of at least $1,000. The maximum Basic credit is $1,192 for a one child family and $1,235 for a family with two or More children. The supplement for a child under 1 year old provides As much As $357 More and the health insurance credit ranges up to $428. The credit is phased out As income rises above $11,249 and disappears at $21,250. But Goldberg emphasized that taxpayers must file a tax return to get the credit. And to be certain of getting everything they Are due eligible families must file not Only a tax return but an additional document that asks for children a names Ages and information on health insurance premiums the family May have paid. Macy s has Lon been an american byword a shoppers mob Macy son May 31,1951, when the company drastically slashed prices to Start a Trade War. By Rayner Pike the associated press new York a Macy s. The name is nearly a synonym for department store and has become part of the language and tradition of the country. You proclaim yourself ready to risk maximum Public humiliation by offering to pay off a bet in a a Macy a  you demonstrate prudence and deflect busybody inquiries with the response a does Macy a Tell Gim belts a you kill the wait for dinner on the last thursday of november by watching Macy a thanksgiving Day Parade. Inflating the giant cartoon character balloons that float Over the Parade makes Macy a the biggest american user of helium after the armed forces. And generations of children have believed Santa Claus is the Guy with a White Beard who winds up the Parade and spends the next month listening to their wishes at Macy a toy department. Macy a Santa is the Central figure of one of the most enduring Christmas movies Miracle on 34th Street wherein the lion does no to exactly lie Down with the Lamb but Macy a makes a Friendly accommodation with Gimbels its now defunct archrival. As befits the worlds largest store a which it is a Macy a flagship Branch in new Yorkus Herald Square made one of the biggest promotional gestures of the East decade tap of mania. In a made for the record ook event Macy a gathered 4,497 people outside the store in August of 1988 to tap dance to there a no business like show business. The 134-year-old store also was where Teflon coated cookware went on Sale for the first time shortly before Christmas 1960, and quickly sold out. The . Macy co. Inc., whose shape and future is now in the hands of a bankruptcy court began As a Day goods and stationery store occupying a space 20 feet wide and 60 feet Long at 14th Street and sixth Avenue. The founder and sole employee Rowland Hussey Macy took in $11.06 the first Day oct. 28,1858, and $90,000 the first year. Macy died in 1877 and nine years later Brothers Nathan and Isidor Straus whose family business had supplied the store with crockery and glassware bought control. Under three generations of Straus leadership the store moved to its 2.15 million Square foot site in Herald Square about 49 acres of Selling space on 10 Levels. Isidor Straus and his wife were among the Rich and famous who with Many poor and nameless went Down with the titanic in 1912. Macy a grew into a nationwide operation eventually employing 49,000 people in More than 90 stores in 14 states. Sales topped $4 billion a  to repay millions in excess escrow funds by the new York times general motors acceptance corp., one of the country a largest mortgage lenders settled a Federal lawsuit monday by agreeing to refund tens of millions of dollars to hundreds of thousands of homeowners who officials said had been forced to pay excessive amounts into escrow accounts. The attorneys general of 12 states including new York new Jersey Connecticut and California said their settlement with Gmys mortgage unit represented a significant Victory against widespread abuse in mortgage lending. They said they hoped the settlement would result in reforms nationwide. The prosecutors maintained that the settlement would Cost $100 million with the average customer receiving $275 in refunds and reduced mortgage payments. The company disputed these figures and denied any wrongdoing saying that it was settling the Case to avoid Legal costs. The lawsuit against Mac the country a fourth largest mortgage Lender was something of a test Case by Law enforcement officials who contended that Mort Gage companies had regularly required customers to pay More into escrow accounts than was legally permissible under Federal Law. The escrow accounts Are supposed to be used by Banks and other lenders to pay real estate taxes and insurance premiums As they come due. But the attorneys general maintained that lenders were collecting excess Money to profit from the interest earned by investing it. A 1975 Law allows mortgage lenders to collect More in escrow than May be needed to pay annual taxes and insurance premiums providing them with a Cushion against unanticipated rate increases. But the Law limits the excess escrow payments to a sixth of the anticipated escrow charges a limit that has been broken by lenders across the country the attorneys general said. In news releases issued in the 12 states the attorneys general estimated that the terms of the settlement would apply to virtually All of Gmack a 380,000 residential mortgage holders. The other states in the settlement were Florida Idaho Iowa Massachusetts Minnesota Pennsylvania Texas and Wisconsin