European Stars and Stripes (Newspaper) - February 10, 1993, Darmstadt, Hesse                                Page 12 the stars and stripes Money matters wednesday february 10,1993 death perhaps income taxes for sure Somalia Balkans not declared combat zones by Kevin Robinson staff writer the duty May be dangerous but it s not tax free. Despite hazards faced in the War torn Balkans or sniper infested Somalia the almost 1,200 european Cornel service members deployed there Are still responsible for paying income taxes said a spokeswoman from the internal Revenue service. Although War threatens to Widen. In the for Mer Yugoslavia and at least three american service members have been killed in so Malia neither for mar president Bush nor president Clinton have declared the areas As com Bat zones said Barbara Mchrmann assistant representative for the irs at the . Embassy in Bonn Germany. That Means . Scricc members deployed in operations such As provide Promise in Croatia and restore Hope in Somalia do not qualify for the same in come tax exemptions granted to service members who serve or have served in combat zones. Enlisted members who served in a designated combat zone in 1992 Are exempt from Federal income tax on their military pay during that deployment. They still have to pay taxes on other income such As interest or rental profits Gehrman said. Commissioned officers who served in a combat zone receive an income tax exemption of no More than $500 of their monthly pay. \ desert storm service members with 1992 service in a combat zone arc advised to highlight their tax status by putting desert storm on the top of their Feder Al income tax forms and on mailing Enve Lopes . Army Europe tax officials said. All . Citizens living overseas Are granted an automatic Extension until june 15 to file their Federal tax forms the irs said. Anyone who uses Trie initial two month Extension docs not have to notify the irs but must write overseas Filer on the top of the form Gehrmann said. That tells the irs that the tax Filer is living outside the United states As of the Normal april 15 filing deadline. Extensions apply Only to the filing of the tax forms but do not excuse service members from paying any tax due by april 15, even if the amount is estimated. Interest will be charged on taxes owed the government after april 15. Combat zones certain tax Breaks Are available to military members who spent part of last year in the following areas which Are designated As combat zones the Preslar Vulf the red sea the Gulf of Oman portions of the arabian sea the Gulf of Aden Iraq Kuwait saudi Arabia Oman Bahrain Qatar parts of Turkey and the United Arab emirates. Source internal Revenue services a before the june 15 Extension expires tax filers can apply for another two month Extension by submitting irs form 4868. Requests for additional extensions must be submitted before aug. 15 by Fil ing a form 2688 with the reason for the delay irs officials said. Through this form americans overseas can be granted a filing Extension up to dec. 15. Scricc members can avoid tax hassles by notifying the irs of a current deploy ment. That can be done by sending a written explanation to the irs with a copy of deployment orders or a notice from a unit commander Mchrmann said. If the irs knows a Soldier is deployed it will try to defer any action to collect income taxes or conduct examinations during that deployment period Chr Mann said. Because of a deployment the irs looks at each Case to see if there could be justification to waive any penalties she said. But we have to know about  special help is available for the 350 service members deployed to Zagreb Croatia with task Force 212, said Debo Rah Hayes dousing an attorney in the Legal assistance office at Wiesbaden Ger Many. An army lawyer and a Law clerk accompanied the task Force to Croatia Hayes Clousing said adding there will be some tax assistance Down  also the Wiesbaden Legal office is sending tax forms to the troops and appointing a tax adviser to assist the spouses of task Force soldiers in Ger Many she said. A redeployment briefings for service members sent to Somalia and Croatia included information on filing taxes and if needed the use of Powers of attorney to designate someone As a tax representative military officials said. Publication assists in government Job search by Crystal Laureano staff writer  who would like to work for the . Government As civilians but arc confused by the myriad rules and regulations can find simple answers to some of their questions. Transitioning out. The search for Federal employment is a concise guide listing Job options with the government. The Booklet was created by several army agencies and is designed to assist soldiers entering civil Ian life or anyone exploring Federal employment. We be gotten some real useful feedback from peo ple who have picked up and used the Booklet said Betty Hurley transition services manager at the Frank furl army career and alumni program office. They say it is extremely useful. It addresses literally every subject that Falls under the subject of transition that we can think  the 26-Page Booklet begins by stating there Are no secrets or special shortcuts to getting a Federal Job and offers to take the mystery out of the Hunt for a Job within the civilian government system. While emphasizing that service members must make certain decisions and devote considerable time to Job searching the pamphlet outlines a Clear path for think ing through those decisions. It explains the categories of jobs and How positions Are filled. There Are helpful hints for completing the Standard Job applications form the of 171 and information about other agencies and assistance programs. Throughout the Booklet Are various Telephone num Bers for Job information hot lines and electronic Bulle tin Board Job listings. Eligibility requirements for receiving veterans prefer ence arc outlined As Well for categories of Job Candi dates. Information is also provided on applying for jobs in the non appropriated fund system and a one time Job preference available to service members involuntarily separated from the military. The pamphlet reminds service members that the draw Down is affecting the entire spectrum of the de sense department 200,000 civilian positions will be Cut by 1997. A tighter Job Market Means tougher Competition for employment. Service members arc urged to expand their Job search to All Federal agencies not just their current service Branch or the defense department. The Booklet advises service members to take an honest look at their skills and the availability of jobs where they plan to live and perhaps consider a move or additional training. Although the Job search Road is usually Long and bumpy the skills developed in the military technical and leadership skills and experience can give sex service members a competitive Edge in the Job Market the pamphlet says. Since we have so Many we be been giving a Booklet to each of our clients in addition to what we offer them Harley said. People Are saying they actually learn new  the pamphlet is available at army career and alumni program offices. Man who plans to buy . Post accused of swindling by David Henry and i a Auk Iii Sanger new Oduy new York Steven Hoffenberg the self proclaimed Champion of Ordinary  who wants to buy the new York Post has been accused of cheating widows retirees and thousands of other investors out of scores of millions of Dol Lars. The securities and Exchange commis Sion said monday that Hoffenberg took in More than $215 million by Selling notes As he fraudulently inflated the income and net Worth of his towers financial corp., the debt collection business that he once said he would use to buy the struggling newspaper. Though the notes were not registered with the sic they have proved popular among some brokers and investors in 40 states because they pay 12 percent to 16 percent annual interest. But much of the Money raised Selling those investments is missing the commis Sion said in a lawsuit filed in . District court in Manhattan. The Sec apparently fears that some of the Money has been stashed in off Shore Banks noting that Hoffenberg has Bank accounts in the Island nations of Cape verde Barbados and Bermuda. The Sec tried monday to obtain a court order freezing Hoffenberg s and towers assets and putting him on a $ 1,000-a-week allowance. But  District judge Whitman Knapp declined to Grant the freeze. How Ever he has scheduled a hearing for feb. 24 to give further consideration to the Sec s requests. Hoffenberg s attorney Ira Lee Sorkin argued that such a freeze would put Tow ers out of business and jeopardize the Post s survival. The Sec has not ruled out an Appeal for an immediate freeze. Sorkin and a spokesman for Post owner Peter Kalikow both said the Sec s Case would not Stop Hoffenberg from buying the Ost. We re Happy with the Deal said Kalikow s spokesman Martin Mclaugllin. Hoffenberg said monday that he would Complete the Purchase feb. 19. To buy the newspaper sources said Hoffenberg will have to put up about $5 million to repay a Bankers Trust loan tothe Post. He will have to assume a $15 million Bankers Trust mortgage on the Post s building and take on an additional $10million in debts. Sorkin declined to comment on the Sec s allegations saying he was still Reading the voluminous documents. Sorkin also declined comment on be half of two key Hoffenberg aides also named in the lawsuit Mitchell Brater 51, and Arthur Ferro 51, of Valle Stream . Sec lawyers. Dorothy Heyl and Robert Blackburn told Knapp that they decided to accelerate the Case which has been in preparation for months because of Hoffenberg s intention to buy the Post. The suit is based on examination of Lowers financial records and on inter views with Hoffenberg his top aides Doz ens of investors and brokers who sold towers securities. The investors included Many financially unsophisticated widows retirees and disabled people. The Sec said that while towers claimed to be Worth $20 million in its 1991 annual stockholders report it Actu ally was $130 million in debt. Though Hoffenberg s company reported a $4.3 million profit the Sec said it actually lost $61 million the Sec alleges that much of the Money Hoffenberg raised from More than 2,800 investors through a National network of brokers remains Unac counted for to this Day at least some of the investors funds went to pay exorbitant salaries of Hoffenberg and his associates even though towers had promised the funds would be used to buy debts owed to other businesses. Hoffenberg or others at his direction and control routinely emptied Bank escrow accounts of investors funds the Sec s lawsuit charges. R