Tax forms simple but tax law still incomprehensible
A Treasury official told a Senate subcommittee that the simplified 40 percent 1040A form reduces error rates, but the tax code remains too complex for most taxpayers and advisers. Lawmakers consider bills to simplify procedures without changing core provisions, as experts note rapid growth of the Internal Revenue Code and regulations since the 1950s.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury
Congress
Donald Lubick
Lubick
Senate Finance Subcommittee On Taxation
Harry Byrd
Ind.Va
Byrd
Charles Lees
American Institute of Certified Public Accountants
Toon Withholds SALT II Support Pending Verification
U.S. Ambassador Malcolm Toon said he would withhold support for the SALT II treaty until he is sure the Soviet Union is abiding by its terms. He expressed cautious optimism that verification questions can be resolved satisfactorily. He calls the treaty a stabilizing element and plans to retire later this summer or early fall.
MENTIONED IN THIS ARTICLE
Moscow
UPI
U.S
Malcolm Toon
United States
Soviet Union
Toon
State Department
Corporations Pay No Federal Tax in 1977 Study
Rep. Charles Vanik reports seven large firms with over $2 billion pre tax income paid no federal income tax in 1977. The study covers 142 companies, noting a sharp drop in the average 1970s corporate tax rate to 17.2 percent, with oil firms averaging 11 percent and 38 firms paying 10 percent or less. Named companies include U S Steel Rockwell International Esmark National Steel Republic Steel Inland Steel United Brands American Motors American Airlines Eastern Airlines Pan American World Airways Seaboard Coastline Industries American Electric Power Commonwealth Edison Southern California Edison A and P First Chicago Corp.
MENTIONED IN THIS ARTICLE
Washington
UPI
U.S
Charles Vanik
D-Ohio
Vanik
U.S. Steel
Rockwell International
Esmark
National Steel
Republic Steel
Inland Steel
United Brands
American Motors
American Airlines
Eastern Airlines
Pan American World Airways
Seaboard Coastline Industries
American Electric Power
Commonwealth Edison
Southern California Edison
First Chicago Corp
Plague probe on Palau Island refugees sparks rat cull
Malaysian health officials dispatch twelve doctors to Palau Island refugee camp to investigate bubonic plague among 9,400 Vietnamese refugees. Blood tests proceed for 20 refugees while rats are to be captured or shot, though no cases confirmed yet.
MENTIONED IN THIS ARTICLE
Kuala Lulmpur
Malaysia
Palau
Here
Carter signs ethics bill easing revolving door restraints
President Carter signed a law amending the 1978 Ethics in Government Act to ease limits on former top officials taking private sector jobs. The measure narrows the one year ban to cases where the former official was personally and substantially involved with the agency.
MENTIONED IN THIS ARTICLE
Washington
UPI
Carter
Executive Branch
HEW Secretary Raises Alarm Over Paraquat Health Risks
Secretary Joseph Califano says paraquat poses serious health hazards and seeks official views from Agriculture Secretary Bergland and EPA head Castle. If agencies concur, federal funding for the Mexico marijuana eradication campaign could be cut.
MENTIONED IN THIS ARTICLE
Washington
UPI
HEW
Joseph Califano
Mexico
Califano
Agriculture
Bob Bergland
Douglas Castle
Environmental Protection Agency
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