Page 4-B
Changing Tax Forms - Are
They Easier Or More Confusing
l£you think there were a lot
of conges in the tax laws
recflqtly, wait until you see
forms! At least 51
been redesigned
in £grpe way this year, and
new form has
by the IRS.
Mfljor redesigns have been
made on the 1046A “short
fornj,’’ as well as the forms
for reporting itemized deduc
tions, interest and dividend in-
for income averag
ing u According to the North
Carolina Association of CPAs,
all the changes seem to be for
the better, but be aware of
them so you get all the tax
breaks; you have coming to
you.
Fof .instance, the brand new
form, printed on green paper,
is an alternative to the 1040
and the 1040A. It will make
tax time very easy if you are
a single taxpayer with no
deductions. This new form,
called the 1040EZ, is a one
page return that requires
single filers to answer just
eleven basic questions.
All you have to do to com
plete the 1040EZ is write in
your name and address,
answer the few questions,
sign it and enclose your W-2
forms. You can still claim any
refund you are due or pay any
taxes you owe.
To make matters even
easier, the 1040EZ has the
Ingram Will Approve National
Heritage Insurance Company
RALEIGH—North Carolina
Insurance Commissioner
John - Ingram announced in
Raleiglttie would approve the
Natidnat Heritage Insurance
Company of North Carolina
but he noted severe deficien
cies in their proposed policy
which had not yet been ap
proved*' NHIC/NC is a Texas
based ebmpany created and
Electronic Data
Systems to offer a conversion
health insurance policy to ter
minated State employees.
Such a plan could potentially
affect all teachers and other
State employes and their
fanutit* (approximately
Ingram, nftfced.ba saw.;
cectawbvdefieiencws , jp.-foe,.
“conversion product” in
cluding a $10,000.00 per an
num maximum benefit and
the elimination of claims
resulting from mental illness.
This -reduces benefits
substantially from the
previous Blue Cross conver
sion product. He added, “This
is a step backward for North
Carolina”. Such items are
still considered to be
negotiable with Electronic
Data'Systems (EDS), the
parent company of the Na
tional /..Heritage Insurance
Company of North Carolina.
Concurrently, Ingram
noted that this program is a
further departure from the
previous Blue Cross program
as it is not being subsidized by
the Legislature so that
premiums paid by the in
dividual policyholder may be
Wives Are Reason For Success
Most highly successful
fanners rate their wives as
the No. 1 reason for their suc
cess, according to the
January/February issue of
PCA FARMING magazine.
PCA FARMING is sent to
area fanners as a service of
the local Production Credit
Association. The story entitl
ed “Hats off to farmwives” is
based on an interview with
Hiram l .jPrache, a farmer,
author and professor of
economy: history at Concor
dia College, Moorehead,
Minnesota.
Drache interviewed hun
dreds of highly successful
farmers in the course of
for his writings and
Those interviews
qualities, which
he calls.foe six Ms, that set
high achievers apart from the
averag&former. In order of
importance, those six Ms.
are: &m£te, motivation,
managafgent, money,
mark«slgg and
mechanization.
“A farm wife motivates and
sustains her husband during
the baMfoes,” says Drache.
“She’s stabilizing influence
during the good times. And
dail she helps him manage
thf wiifc”
it Abe topic of manage
me TWache says most suc
cessful farmers mentioned
adversity as a turning point in
their farming careers. “In
SI,OOO personal exemption line
already filled in for you. This
figure is subtracted from the
total of wages and interest in
come, to determine your tax
able income.
Use the 1040EZ only if you
are single, your taxable in
come is under $50,000, you
have no dividend income and
your interest income is S4OO or
less (excluding interest from
all-saver certificates). It is
not designed for someone who
can claim any deductions or
exemptions for being blind or
over 65.
The IRS estimates that 20
million individuals may be
eligible to use the new 1040EZ.
CPAs generally agree the
simplicity of the 1040EZ form
will improve taxpayer com
pliance to tax laws and
deadlines.
The IRS has also modified
the “short form” 1040A so that
it has a “cleaner” look than in
the past, and is arranged in a
step-by-step format for easy
completion.
This new format should
help prevent a common
mistake made last year when
many people forgot to sub
tract the dollar amount for
their allowable exemptions.
This resulted in the IRS either
making adjustments or sen
ding the return back to the
taxpayer for correction.
substantially increased. Com
missioner Ingram concluded
that “substantial changes
must be made by EDS, the
State Medical Plan Trustees
or the General Assembly in
order to provide adequate
benefits for teachers, other
State employees and
families.”
Certain other problems
regarding this new health in
surance program were
satisfactorily worked out dur
ing a recent meeting between
EDS Chairman of the Board,
Ross Perot, and Commis
sioner Ingram in Dallas,
Texas. “The meeting was
ifruitful”, Ingram said. “We
several problem
areas with Mr. Perot and of
ficials of his office. They
seemed to be receptive in the
areas we discussed.”
As a direct result of In
gram’s suggestions, Mr. John
Hickey has been named Vice
President and Chief
Operating Officer of
NHIC/NC. Mr. Hickey’s
specific responsibilities in
volve the implementation of
the health insurance program
for North Carolina.
Ingram has spoken out in
the past concerning some of
the changes made in the
Health Insurance Plan for
State Employees and
Teachers and has been a con
stant “watchdog” of the pro
posed program although the
Legislature has granted him
no authority on the base plan.
adversity, farmers learn their
own strength. I see the cur
rent economic situation
revolutionizing farming. It is
forcing farmers to take a new
look at their management and
the technology available and
put it to better use,” he
explains.
Regarding money, how you
handle credit is what’s impor
tant, not how much capital
you start with. Drache ad
vises farmers to present their
lender with a tight budget this
year that demonstrates their
management ability. “And
always go in as a couple. This
shows your determination to
succeed,” he states.
To accalarata the baking
of a potato, first boil it
for about tan minutas.
MLroumam,
ml tSuwwc-ot
COUCH FOMUU
■ r*B Ifcnwr Ijlctmooct. Divi.lj. at
Saadoa. lac . IJacola. Nitride aMOt
mmmm
I
9
IF YOU’RE NOT
SHOPPING AT
WINN-DIXIE,
aren’t you tired
OF PAYING TOO MUCH \
FOR YOUR GROCERIES?
I I
1 i
■ i
I Week After Week After Week, We Beat The Stores That
I Claim To Be “LOWEST” In Head-To-Head Price Comparisons.
i ■ / ■'
. | .t - ;
Items Listed Below Were Purchased On The \
Same Day At Each Store And Are Shown On ,/ *
Each Receipt In The Same Order As Listed.
uinw Dixie I 100-ct. Upton Tea Bags | *-000 1
' vou I 5-lb. Store Brand Sugar / .' I
oi/ovss 12-oz. Cans Ctn. of 6 Miller Lite I ‘- rr ‘NC/sc/w/« /
1 m 32-oz. Dukes Mayonnaise I . ttt ' 33/s ? I
21 -oz. Liquid Comet I oggi ip • /
wkes 8-oz. Taster's Choice Instant Coffee | non-food i •?? l I
ffwm I 24-oz. Hunt's Catsup /SSL f. I
} 12-oz. Store Brand franks fft
»»»!»», ->4 i6iozseMaafieE«Bkioha ..'T ?;“ll
■ 8-oz. Morton Pot Pies ■ / J®; " 7 ?’<■ I
t'Sl 2-Liter Pepsi i.eM
Savt A eo " 16-Singles Store Brand Cheese / ie3/:i| /
wwf I 15-oz. Store Brand Fruit Cocktail / &. / ,
i« I 10-lb. Potatoes J S®- ».»: J
I Lettuce / ?*gdJ: ; e - J
wn 22 4 b \ 16-oz. Store Brand Whole Hog Sausage / jgj&s - /
j — 1-lb. Carrots / 4odk= .*•» 7 I
/ / SUSTS7t - ' / -
/ L IHL 25 it
/ W!NN£IXIE j FOOD-TOWN j
/ TOTAL TOTAL \ j
I f I >25.18 |«-\
' -v s
i ' i ! ' •: ’ -
I :i *•’
I * 11
i\ , -
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*1 i { •
Winn-Dixies Combination Os EVERYDAY LOW PRICEBREAKERS,
And DEEP-CUT PRICE BREAKER SPECIALS
Offer You Unbeatable Savings.
L. I ?
Make your otwt comparison and you'll discover what
hundreds of thousands of Winn-Dixie Shoppers
already know •••Im ‘i I
1 ff . ;
NOBODY SAVES YOU
MORE THAN WINN-DIXIE!
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•PRICE SURVEY DONE ON 1-3-83 SOME PRICES MAY HAVE CHANCED SINCE THAT TIME.
THE CHOWAN HERALD
Thursday. January 13,jf£