Transport, computer stocks push market higher on upbeat data
UPI reports a strong stock market rally led by transportation and computer shares. Dow climbs 13.25 points to 1077.91 as railroad and airline stocks rise on lower fuel hopes and signs of economic recovery. Major indices and NASDAQ also hit gains amid bullish earnings and merger rumors.
MENTIONED IN THIS ARTICLE
New York
UPI
Reagan
Standard & Poor
OPEC
Labor Department
America
Alice Rivlin
Congressional Budget Office
White House
Pan American World Airways
Exxon
California Standard
International Harvester
AMR Corp
Delta
KLM
Southwest
Trans World
UAL Inc
World Airways
Burlington Northern
Santa Fe International
Southern Pacific
Union Pacific
Rio Grande Industries
CSX Corp
Texas Gas
CSX
Motorola
Hazeltine Corp
Deductions Compared With Averages On 1981 Returns
Tax guidance notes that after filing 1982 income tax returns, taxpayers should compare their claimed deductions with 1981 national averages from the Research Institute of America. Averages vary by state due to real estate, income taxes, and interest rates. High or low deductions could flag audits or missed deductions.
MENTIONED IN THIS ARTICLE
The
Research Institute of America
IRS
How to Save on Your Taxes
Tax tips and table notes explain that only actual expenses may be deducted and warns against unofficial tables. The piece cites footnotes in state tax tables, audits odds, and promotes Sylvia Porter’s 1983 Income Tax Book from Universal Press Syndicate.
MENTIONED IN THIS ARTICLE
Sylvia Porter
Johnson Drive
Fairway
Kan
Universal Press Syndicate
GM Toyota small car could create ten thousand jobs
GM Chairman Roger B. Smith said the joint GM Toyota small car could add 10 000 to 12 000 U.S. jobs. He noted the project would speed an entry into the small car field and may lead to a new dedicated plant for a future no year model. The vehicle would be about Chevette size and 50 percent American 50 percent Japanese in content with Japanese engines likely.
MENTIONED IN THIS ARTICLE
New York State
New York City
IRS
New York
UPI
Toyota
General Motors Corp
Roger B. Smith
Iron Age Magazine
Smith
GM Toyota
Chevrolet
Fed says money supply rose 2.7 billion in week to Jan 26
The Federal Reserve reports M1 in the week ending January 26 increased by 2.7 billion as Super-NOW accounts boosted cash measures. Separate figures show Super-NOW averages at 17 billion, money market deposits at 213.2 billion, and the federal funds rate at 8.53 percent.
MENTIONED IN THIS ARTICLE
Fed
New York
UPI
Federal Reserve
Money Market Deposit Ac
New York City
Getty tests unleaded pasteurized gas trial in Fairfield County
Fairfield County is the testing ground for a gasoline retailing experiment by Getty. Stations in Stamford and Greenwich switch off leaded gas and sell unleaded, with wholesale price cuts to dealers. If successful, expansion to the Northeast is planned later this year or in 1984 amid regulatory shifts and market pressure.
MENTIONED IN THIS ARTICLE
Stamford
Conn
Fairfield County
Getty
Getty Refining and Marketing Co
Lester J. Boyle
Tulsa
Okla
Frank Pirro
Get
Greenwich
Bridgeport
Danbury
Norwalk
IRS pays highest interest on overpaid taxes at 17.4 percent
The IRS pays 17.4 percent annually on overpayments held longer than 45 days, compounded daily. Taxpayers have three years to reclaim the money by filing an amended return, with corporate managers and individuals sometimes using loss carrybacks to gain extra interest.
MENTIONED IN THIS ARTICLE
Washington
UPI
Internal Revenue Service
IRS
Congress
Iowa Power Must Show Tax Returns Under Privacy Ruling
Polk County Judge Richard D. Morr upheld ICC authority to require Iowa Power and Light Co to turn over tax returns and financial records of parent Iowa Resources Inc. but ruled the returns are not public documents and must be kept confidential. The 1981 rules requiring tax filings for rate increase petitions were challenged by Iowa Power.
MENTIONED IN THIS ARTICLE
DES Moines
Polk County
Richard D. Morr
Iowa Commerce Commission
Iowa Power and Light Co
Iowa Resources Inc
Morr
ICC
Commission
Iowa Power
New account rates fall in Money Market and Super NOW
Bank Rate Monitor reports dramatic declines in new Money Market and Super NOW rates. In a 50-bank sample, average rates slipped to 8.85 percent from 9.2 percent a week earlier, while Super NOW offerings fell to 7.59 percent from 7.73 percent. thrift institutions still offer higher yields than banks.
MENTIONED IN THIS ARTICLE
Miami Beach
UPI
Savings and Loan
Also Mentioned on This Page
Reliance Group
Paine Webber
IBM
Burroughs
Digital Equipment
Hewlett- Packard
Honeywell
National Semiconductor
Texas Instruments
National Association of Securities Dealers
Versal Press Syndicate
Ighre
Arizona
Eastern County
Los Angeles Times Service
Treasury
Money Market Mutual Funds
Joint Committee On Taxation
Floyd Williams
Williams
Iowa
U.S. No
Idaho
Sortea
Dale's
Center Point Rd
Tucker
Real Esate
Tommy Tucker Realtors
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