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Publication: European Stars and Stripes Wednesday, February 17, 1993

You are currently viewing page 12 of: European Stars and Stripes Wednesday, February 17, 1993

   European Stars and Stripes (Newspaper) - February 17, 1993, Darmstadt, Hesse                                Page 12 the stars and stripes Money matters wednesday it Bruvry 17, 1993 irs seeks out overseas tax delinquents non i ers urged to voluntarily step Forward by Kevin Robinso staff writer americans overseas who have avoided filing Federal in come tax returns for years can voluntarily inform the internal Revenue service now or risk possible jail time a spokeswoman for the irs says. An estimated 61 percent of eligible tax. Filers overseas fail to file their . Tax returns according to a study done bythe general accounting office. This adds up to about $7 billion a year in lost Revenue irs officials said. For some of these people it s not uncommon. Tobe Over Here 10 to 12 years and not file a tax return said Barbara Gehrmann of the irs at the . Embassy in Bonn Germany. The irs has targeted 1993 As an Impact year to reach out and touch no filers overseas one Way or the other Gehrmann said. Our interest is to reach out tothe people who want to get right with the  one Way is for no filers to step Forward voluntarily. Penalty and another i percent $100 just for failing to. . .1 i to cd tra Sharpes in Mound each car until i up if they do this the irs said it will assist them in preparing delinquent tax forms and if necessary establish payment plans if they owe Back taxes and cannot Layup in one Lump sum. If taxpayers Are entitled to any waivers for failure Tofile and pay due taxes the irs will determine their status on a Case by Casc basis according to a statement from the irs International office in Washington . As a matter of practice the irs would t go Bac beyond six years in looking for delinquent income tax returns or Money due from people who voluntarily come Forward Gehrmann said. However no filers who Don t voluntarily step for Ward will be prosecuted for income tax evasion once they Are discovered irs officials said. The longer no filers put off filing their taxes the bigger the problem can be Gehrmann  illustrated the total penalties imposed on a no Filer who for example owed $10,000 in Bac taxes. In addition to the $10,000, the person would pay. These extra charge compound year l the debt is paid. Before Long the amount could be doubled she said few americans overseas deliberately avoid filing their . Taxes irs officials said. But Many Are con fused about . Tax Laws that require americans to file Federal returns on their income even if they live out Side the United states and their income is from foreign sources. Foreign earned income exclusions and credit for taxes paid to foreign governments Are available for no filers but they must be claimed on tax returns irs International said. No filers can  More information on tax assistance by writing irs International in c tips 950 l infant Plaza . Washington , 200241 they can also Call the irs International at 202 874-1460 or Contact irs offices in Europe at . Embassies in have to pay 25 percent $2,500 of the $10,000 As a late Bonn London Paris and Rome. Some in . To see Cut in cola Rise in by Meridith . Bureau a Cut in one allowance and a raise i another will affect the end of month pay checks of Many . Service members stationed in the United kingdom a . Naval forces Europe official  Cut in the Cost of living allowance. Will affect All service members Navy  Jones said Friday. The minimum Cut will be 11 percent and is linked to theorising value of the Dollar against the Brit ish currency he , based in London is the executive agent representing England an Southern Europe on the Pentagon s per diem  some service members will receive More Money because of higher overseas housing allowances Jones said. The allowances Are paid to those who live of military installations. Some service members could see a significant difference Between the pay they . Consumers More particular study suggests new York up -. American Consumers Are becoming increasingly discriminating buyers according to a study released monday. The conference Board s Survey covering 6,500 households found Consumers believe they Are receiving their Money s Worth when they Pur Chase fresh poultry rent a videotape and Purchase a to. But they think they Are not getting their Money s Worth from pay per View to Hospi Tal charges lawyers fees or credit card charges it said. The private business research organization said Consumers also rated As Best buys fruits and vegetables fresh meats fish electric appliances pet food Telephone service haircuts and electricity. However Consumers rated As bad buys tickets for sporting events health insurance Cable to movie theater tickets College tuition Bank service charges Auto insurance Chil Dren s toys and doctors fees. The latest findings confirm that american Consumers have become increasingly discriminating buyers said Fabian Linden executive director if the Board s consumer re search Center. The Survey found that the average american family gave relatively nigh Marks to autos with foreign cars holding Only a slight Edge Over american made autos. Some 20 percent of All Consumers said they got Good value for their Money when they purchased an american made Auto. But some 22 percent of the Consumers said they gave a higher rating to foreign autos. The Young and affluent tend to favor foreign cars. Residents of the Pacific coast prefer foreign made cars while midwesterner favor american made autos Linden said. Housing and cola in the United kingdom a 1 the former and current monthly Cost of living and overseas housing a 1 allowances paid to three ranks of the armed forces at three locations in jul a the United kingdom. Rates Are based on a rate of $1 .44 to the Pound. Housing allowance location London. Lakenheath s. J to h Edzell � pc i cola with 2 dependents location London. -. A. I ,. \ 1 Ukehe thy of r. -.  rank o-3 e-5 e-1 o-3 e-5 e-1 0-3 e-5 e-1 rank o-3 e-5 e1 o-3 e-5 e-1 o-3 e-5 e-1 old rate $1410.00 1333.44 1333.44 552.90 439.20 417.60 460.80 396.00 360.00 old rate $771.00 542.00 21800 154.00 306,00 215.qo new rate $1762.00 1510,56 1510.56 691.20 489.60. 432.00 576.00 396.00 360,00 new rate $632.00 445.00 197.50 139.17 276.50 194.83 cola with no dependents location London Lakenheath Edzell rank 0-3 e-5 e-1 0-3 e-5 e-1 o-3 e-5 e-1 old rate $617.00 412.00 305.00 175.00 116.00 86.00 245.00 164.00 120.00 l. New rate $506.67 338.67 250.67 158.33 105.83 78.33 221.67 148.17 109.67 Louico us Navy to. To received Friday and what they la get i their end of month paychecks he said. I suggest that they Don t Rush out Handsp Enthat extra  his advice stems from the rate used by officials to determine the Cost of living Al Lowance. Officials  month using figure of $1.58 to the Pound but begin Ning tuesday they were to use the figure of $1.44 to the Pound. We re playing catch up for overpay ments in cola he said. It happens whenever there s a rapid fluctuation i currencies. It takes awhile for the system to make  the new rate will affect everyone an will depend on where a person is stationed for instance in the London area cola dropped eight Points while at most air Force bases in England and the Navy base at Raf Edzell Scotland cola dropped four Points. A general Rule is that every two Point equals approximately 5vz percent Jones said. That Means in London people los about 22 percent in cola while at Raf Lakenheath and upper Scyford in eng land and Raf Edzell in Scotland they lost about 11 percent he said. The number of dependents affects Al cola rates. While Cost of living allowances were going Down the housing rates for those living off base Are going up. People in Central London will see bigger increase than those near the bases Jones said. But people should remember that these new figures Don t mean their pay will go up. The maximum amount they can spend on housing went  amounts vary from no increase foursome enlisted personnel at Edzell to More than $390 for some officers in Cen trial London. The increased housing allowance stemmed from housing surveys taken in the fall of 1992. Everybody did a Good Job when filling out these surveys Jones said. Because of accurate and timely information we could work for these increases. J can t stress How important it is for people to be accurate when filling out these surveys. Two other allowances paid to service members receiving overseas housing allowances also went up in England. The Utility allowance was boosted from $137 a month to $176, and the move in housing allowance was increase from $293 to $337. The move in allowance is a one Tim payment designed to defray costs of buy ing items such As transformers Jones said  
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