BUSINESS Costume Fever EPA-Congress Hits Parties Deal Sought

20 - MANCHESTER HERALD, Thurs., Feb. 10, 1983 BUSINESS Costume fever EPA-Congress hits parties deal sought . page 4 The rich now have a lower tax rate .. page 11 J Take care on under* ard deduction. The result derstate your correct tax effective rate to about 17 (This is the sixth in a ceeds $109,400 if you’re standing your taxes! may also confuse many and the Internal Revenue ‘A percent. Since most 12-part series saving on married and $55,300 if you returns aren't examined (Next: Moreonlnterea;^ taxpayers. Service discovers and cor 1982 and 1983 taxes.) are single. for a few years after and Penalties) " So it you suddenly come rects yourtax, you will not ir you are a higher With these figures, any filing, the daily com (Save money as you across this new line on only have to pay the income individual, you debate over whether the Your pounding can add a hor organize your budget witff Snow tonight Manchester, Conn. your form, you will know correct tax due but also don’t reach the 50 percent tax taw was changed to rendous amount to your “ Sylvia Porter’s Flnam what it is. If you deduct pay interest at a very high and Saturday Friday, Feb. 11,1983 tax bracket until your benefit the high-bracket Money's deficiency. cial Almanac for 1983” charitable contributions rate on your underpay taxable income for 1982 is individuals or not be a functional and informal-! Single copy 25C along with other itemized ment. In the long-past era For instance, say that — See page 2 over $85,600 if you're comes meaningless. Worth two years after you filed t i V e desk deductions, ignore this of 6 percent straight inter married, filing jointly: Sylvia Porter your return, the IRS sends calendar-handbook fe a t line. If you do not itemize est, the interest on a tax $41,500 if single. P’or '81, ON CHARITABLE con you a bill for $1,000 in u rin g P o r t e r ’ s b e s t deductions^ take your up- assessment was generally the 50 percent rate was tributions, there was a budgeting tips and to-$25 contribution deduc a minor consideration. underpaid taxes. If the reached at $60,000 if mar minor law change that current 16 percent com money-saving advice.- tion at this line. But in 1982, the interest ried, the sarrie $41,500 if may resblt in more confu rate jumpetj to 20 percent. pounded daily rate re Regularly $8.95, now just! with your return for this single. Quite a tax break sion on your income tax In addition to your As of Jan. 1, 1983, the mains unchanged until $4.95 to readers of this; special deduction. WARNING ON PE for the high-bracket indi forms than it’s worth. standard deduction, you annual rate dropped to 16 then, your interest bill will column. Send $4.95 plus $t It’s a relatively small NALTIES; To "encour viduals among us indeed! Specifically, even if you can now deduct for '82 25 percent until at least July be about $375. If you fight for mailing and handling contribution allowance age” you to file accurate The tax-rate schedule don’t itemize your deduc percent of your charitable 1, 1983, when it will be with the IRS for another to Financial Almanac in and it has further compli returns. Congress has for all of us is noticeably tions for '82, you may contributions up to $100, refigured. two years before you care of the Manchester cated all tax returns. The added a number of new Sharon lower in '82 than in '81 — nevertheless qualify for a While the bate is 16 agree to pay the $1,000 Herald, 4400 Johnsod tax forms have had to penalties, of which you some 9 percent lower. And nominal charitable con or a $25 maximum deduc percent, however, the law extra tax, the interest Drive, Fairway, Kan. provide an added line for may be totally unaware. now. the 50 percent rate is tribution deduction of up tion. now requires daily com alone will run to $889 — 66205. Make checks paya Married persons filing this deducation — even ble to Universal Press your top bracket for all to $25. Whether you innocently pounding of the interest. almost as much as the tax taxable income, whether Formerly, if you used ■joint returns can only though it applies only to Syndiate.) or not-so-innocently un Roughly, this raises the itself! earned income (such as the standard deduction deduct up to $25. If you file those who use the stand- salaries or unearned in (zero bracket amount), separately, the maximum come such as interest, either on Form 1040 or by for each of you is $12.50. quits amid dividends, etc.). In 1983. filing Form 1040A, you under the present tax law, couldn't claim any item the 50 percent tax-rate ized deduction. But the NO DETAILS of your level won't be reached law was changed, starting actual contributions are until taxable income ex in '82 required to be furnished GROssmRn's RnCi^evRns p r o d u c t s c o m p R n v violence Emission testing gets JERUSALEM (U PI) - Defense "A t the beginning of the week, Minister Ariel Sharon bowed to Sharon will meet the general staff mounting pressure to resign his and say farewell to Defense low mark in state poll post today following the Cabinet’s Ministry staff members,” Israel Your Store for overwhelming adoption of the Radio said. findings of the Beirut massacre Technically, Sharon’s resigna ists $10 for each annual test, most said commission and an outburst of tion takes effect 48 hours after his HARTFORD (UPI) - Connecticut’s civil violence. formal letter of resignation new auto emissions testing program air pollution is a concern and 51 percent said they support the emissions testing Prim e Minister Menachem Beg- reaches Begin. "Sharon is resign received poor marks from most of the in’s office said Sharon, 54, would ing from the Defense Ministry on state’s motorists, although six out of 10 even if drivers must make repairs. The erriissions testing is designed to leave his Cabinet post effective Monday,” Begin’s office said to people believe air pollution is a serious Insulation Monday. However, there were day without elaboration. probiem, a statewide poll shows. bring Connecticut into line with a federal order that states reduce indications he could remain in the Ministers Interviewed by the Nearly 40 percent of the 500 adults government in another, as-yet, Armed Forces Radio sounded polled by the L niversity of Connecti pollutants or forfeit federal sewer and road construction grants, which in undefined, capacity. relieved at Sharon’s decision, cut's Institute for Social Inquiry said Sharon, a national hero praised although they also expressed some Connecticut’s case amounts to $250 Do It yourself clinic on H erol ^photo by Torquinio the testing program, which started for reversing the tide of the 1973 regret. Jan. 1. was "poor’ and 18 percent rated million. how to Insulate and sheetrock. Middle East war by leading Israeli Energy Minister Yitzhak Moda’i it ’’fair " said he did not rule out Sharon’s Time — Feb. 10 at 7:00 forces across the Suez Canal into Fourteen percent said the program Six of 10 residents polled said air Egypt, leaves the Defense Minis staying on In the Cabinet as Economy’s casualties was "good ” and 5 percent said it was pollution is a "very serious” or Place — Manchester try Job he coveted amid a storm of minister without portfolio, per ■■ex'‘>‘llent ’ The remainder of the "somewhat serious" problem in Con store only controversy. haps in charge of the occupied Warkers Idled by Pratt & Whitney AIrcratt’s most today at the Machinist Union’s E ^ t l-lartford people polled reserved judgment on the necticut. About 75 percent said the Free coffee & donuts The Cabinet voted, 16-1, to adopt West Bank and Gaza Strip. recent round of layoffs hear about their prospects for headquarters. The union sponsored indivdual counsel emissions testing would improve air emissions program. and giveaways. the recommendations of the .com ing sessions Thursday and Wednesday.' Although many were dissatisfied quality and 9 percent said it would finding new lobs and getting unemployment assistance mission that investigated the Sept. TH13 SUGGESTION had been improve the air "a great Heal " from social service agency representatives on call with the program, which costs motor 16-18 massacre at the Sabra and floated in recent days as a (IhatGa refugee camps by Leba face-'saving gesture. But senior nese Christian Phalange officials and friends of Sharon miUUamen. Biggest decline on record GAA recalling X-cars commander would-leave the go t h e DEFENSE minister stood vernment entirely. / alone in the Cabinet Thursday Sharon’s fate may be clarified against accepting the commis after a meeting of Begin’s ruling to fix brake problems sion’s recommendation he resign’ Likud bloc at the prime minister’s or be fired because he bore office later today. Wholesale prices drop 1 % "personal responsibility" for A senior Israeli official said events leading to the slau^ter. Thursday Begin had not wahted to DETROIT (U PIi — General Motors transmissions. The defense minister made his fire Sharon, the hero of three rate that last year reached only 3.9 Corp. is recalling almost a fourth of its The manual transmission autos are decision amid a tense atmosphere Israeli wars and the architect of WASHINGTON (UPI) - continue to moderate price in department said.

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