Chickasha Daily Express (Chickasha, Okla.), Vol. 98, No. 295, Ed. 1 Thursday, February 22, 1990 Page: 3 of 10
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1
THREE-
CHICKASHA DAILY EXPRESS. Thursday, February 22, 1990
WASHINGTON < AP) — Ask 50
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Tailored by Cheshire - Palm Beach -
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tinuing disappearances
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ridge and Krista Jones.
China, rac
tax experts to calculate the fed
eral taxes of a make believe
3 85 H854
rectly answered the magazine s
questions 72 percent of the time,
compared with 59 percent a year
family and you’ll get 50 different
answers — most of them wrong
experts scare you into preparing
your own return, as only about
one half of taxpayers still do"
The magazine offers this ad-
vice "If our insanely com
plicated tax code can trip up
even highly trained CPAs, what
hope would a mere layman have
unless his return was relatively
simple or he was an avid ama
teur accountant willing to put in
long hours of study’’"
This is the third straight year
that "Money’’ has handed tax
professionals the records of a
hypothetical family and asked
them to calculate what the fam
ily owes under the new tax law
The first year, no two pre
parers computed the same tax
due, and their answers ranged
from $7,202 to $11,881. The sec-
ond year, the range was from
$12,539 to only 10 experts
managed to avoid significant er
rors.
"This year s results were even
more depressing our test stum
ped all but two of the 50 tax pros
who were willing to grapple with
it," the magazine reports in its
March issue
This year’s test involved John
and Jane, who had two preschool
children and income of $132,000
Their finances put them in the
*
RUssR
Tax Expert Survey Finds Many
Responses; Most Of Them Wrong
top 2 percent of earners, and
although some of their tax prob
lems will never be encountered
by most Americans, they should
not pose a major problem for
BEEF EXHIBITORS -Chickasha FFAmembersta ketimeoutfora photordutri "ggtwnate Enderky
SameMecThi. siand
bjtrary detentions lack of fair
trial, widespread interference
wh privacy, excessive use ol
jforce against Kurdish civilians
land an almost total lack of
-orker rights the department
professional tax preparers.
In addition to several errors on
the child care credit and self-
employment tax, "Money’ said,
other major mistakes involved
calculation of taxes on mutual
fund shares; tax consequences
of Jane’s $8,000 loss on worthless
stock; the handling of the
couple's retirement accounts
and treatment of moving ex
penses.
In testing the IRS personnel
who take tax questions by phone.
"Money" found the answers
were correct 90 percent of the
time if they were to be found in
the Form 1040 instruction book
let or in basic IRS information
publications But if the
question takers had to dig, the
magazine said, they tended
toward misleading advice
"Money” said taxpayers who
have to use professional pre
parers should invest in a comm
ercial tax guide so they can take
as much knowledge as possible
to their tax lawyer or ac-
countant.
(’all the Cancer
Information Service
for a FREE publication
"CANCER FACTS FOB
PEOPLE OVER 50".
Call toll-free today!
1-800-4-CANCER
qig
— A0‘aton CALL FOR HUP
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1 too 4-CANCEK
on.m.ca, rss ejes
eb Group of Men’s
1, Dress Shirts
ACADEMY AWARD 1
MOMINATIONS
F
Places in the News
■
A
sembly and association
tually non existent
.•-•Other important
Clearance
Large Group Men’s Suits
REDUCED 25% to 30%
Entire Stock Fieldcrest
Percale Sheets & Cases
REDUCED 33%
Twins - Fulls - Queens - Kings
Regular $12.50 to $42.50
Now 8.38 to 28.48
Pillowcases Regular $12 pr. to $21 pr.
now 8.04 to 14.07
. 3 DAYS ONLY •
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Ch
Ukraine
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Neck Sizes 15-17 1/2
"Money" magazine tried it
and discovered;
—The 50 pros figured the
$130,000 a year family owed
somewhere between $9,806 and
$21,315 The correct answer.
"Money” said, was $12,038.
-Although the family had
some tax problems that most
Americans will never face, some
of the experts fumbled such
basic items as the credit for child
care expenses, the deduction for
moving expenses and the Social
Security tax owed by a self
employed person
The 35 certified public ac
countants, eight independent
enrolled agents, two non CPAs
and five preparers from such
chains as H&R Block charged
fees ranging from $271 to $4,000.
—There was no logical con
nection between fees charged
and performance. “Of the two
preparers who fared best, one
charged about $275 above aver
age, the other around $260
below," the magazine said Over
the past three years, the average
preparation fee for an upper
income return has risen by 30
percent, to $1.012 this year
While the pros are still having
their problems with the 1986 tax
overhaul, "Money found the
people who answer questions by
phone at the Internal Revenue
Service are doing a little better
this year IRS personnel cor
"IN THE HEART OF DOWNTOWN"
STORE HOURS 10:AM-5:30 PM
CLOSED SUNDAY
q 210 miles__
Source Th* World Almanac and Boo* of Facts
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‘ll’ashita'rwin
,00 ( * A ,•‘A 221 *1110
Ladies’ Fall Shoes
Cobbies - Sebago - Divertente
Values to 55.95 1/o
reduced to 7 Price
36 Pair Men’s Florsheim
ShOeS - Values to $85 1/
Sizes 7 thru 13________/ » PriCO
Men’s Fall Sport Coats
REDUCED Up To 13 OFF
-Regulars and Longs______
Entire Stock Ladies’
Handbags -reduced 25%
in Nicaragua which holds
ii.ilion.il elec l i<>f» on Sunday the
Sandinista government main
tains .in extensive and re
pressive internal securit}
apparatus
\rbiti an killings are rehabh
i eported both by gov eminent
forces andthe Contra resistance
the report said Killings b}
government forces in central
Nicaragua seem designed lo
cow the local population il
said
Roth the government and Con
tra leadership prosecuted troops
accused of murder the report
noted and men on both sides
were sentenced topr ison
\mongother points
Human rights in territories
occupied by Israel, where the
\rab population is in the 27th
month ol a rebellion are a
source of deepconcern
The Soviet Union has
adopted a more forthcoming
approach to criticism and is
improving its human rights re
cord Yet the liberalization ot the
country has seen a sharp in
C Mis 24 .,4
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embarrassing to the govern
ment
W idespread human rights
abuses in east Germain were
being changed at year s end
follow mg the collapse of the
(reuse m anti Semitism not to
human stered by, and even
90(o M ?
/WASHINGTON AP The
annual human rights report of
the State Department is pai
ticularly severe on China Iraq
and Nicaragua, according to a
copies made available Tuesday
■j Among other abuses the re
port also recounts floggings in
Iran, amputations in Saudi At
abia and the forced marching of
men through mine fields in
Burma
The report must be submitted
each year to the Senate Foreign
Relations Committee and the
House Foreign Allans < omm
ittee This year scovers1989
The human rights climate in
China deteriorated dramaticall}
Ki 1989, " the report noted as
troops fired on peaceful demon
strators in Tiananmen Square
‘ At least several hundred and
possibly thousands were killed
and a "drastic country wide
crackdown on dissent is still in
force
The report called Iraq s record
‘abysmal. with freedoms of
speech and press and of as
HELPING
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TONIGLI 8AcADEMYATWAnDS
... Jr,
meq2 .8 -1
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Lithuania \
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Byelorussia
□THUANIA
2 Soviet leader Mikhail Gorbachev
s trying desperately to halt a grow-
nq independence movement in the
Soviet Baltic republic of Lithuania
The Kremlin is worried that a Lithua
niar- secession might lead to a
oreakup of the 15 republics that
korm the Soviet Union
2 The independent country of Lithu-
nia was formed in the 13th century
Through intermarriage between
ithuania and Polish nobility, the
Country became part of the Polish
Ampire tor the next 400 years in
1795. Poland was partitioned and
Lithuania came under Russian con-
tol it gamed its independence after
Sie Russian revolution in 1905 it re-
tained its freedom after a German
occupation during World War I Ger
ihany again occupied the country
luring World War II and Lithuania
IS well as Estonia and Latvia once
lore came under Russian control as
art of a peace treaty ending the
var
Now Lithuania claims the treaty
was illegal A growing independence
Movement called Sajudis now domi-
tales politically This has resulted in
fie Lithuanian Communist Party de
flaring its independence from
MOSCOW ..e
; Gorbachev admits that the 1945
Annexation treaty was illegal, but he
Arques that Lithuania would be much
better oft if it remained part of the
Soviet Union but were given greater
economic and cultural autonomy
j Lithuania’s importance to Moscow
k more than symbolic By Soviet
standards. Lithuania's 3 6 million
people are well educated and the
25 000-square-mile country is a ma-
or agricultural center in recent
years it has become the home of
ast-growing electronics and chemi
al industries
I
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Drew, Charles C. Chickasha Daily Express (Chickasha, Okla.), Vol. 98, No. 295, Ed. 1 Thursday, February 22, 1990, newspaper, February 22, 1990; (https://gateway.okhistory.org/ark:/67531/metadc1874847/m1/3/: accessed May 29, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.