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December 11, 1984 - Image 5

Resource type:
Text
Publication:
The Michigan Daily, 1984-12-11

Disclaimer: Computer generated plain text may have errors. Read more about this.

The Michigan Daily - Sunday, December 9, 1984 - Page 5
IRS to tax Social

Security h
WASHINGTON (AP) - The Social
Security Administration will send 40
million Americans forms next month to
help them determine if they are among
the 10 percent of beneficiaries who, for
the first time, must pay income tax on
half their benefits.
Social Security and Internal Revenue
Service officials displayed yesterday
the new forms that will be mailed out in
January.
ALL SOCIAL Security beneficiaries
- including the elderly and disabled -
must pay income tax on up to half their
benefits if their adjusted gross income,
plus tax exempt interest from
municipal bonds, plus half their Social
Security benefits exceed:
" $25,000 for a single individual.
" $32,000 for a married couple filing
jointly.
" Zero for a married couple who lived
together for any part of 1984 and who

eneficiaries
file separate returns. In such cases,
each must pay income tax on his or her
benefits.
" $25,000 for a married person who files
separately but did not live with a spouse
at any time during the year.
Also, the Internal Revenue Service,
discouraged by the growth of
"abusive" tax shelters, especially
among low- and middle-income people,
announced yesterday it will begin
freezing refund checks sprouting from
such arrangements.
The new tactic is aimed especially at
lower income workers who put a little
cash into an investment that promises
to wipe out their current year's taxes
and gain them a refund of all the taxes
they paid in the three previous years.
The IRS is auditing more than 300,000
tax returns that claim investments that
the agency considers "abusive"
shelters.

Express lane Associated Press
Police check the scene as a Ford Escort chased through the glass door front of W.H. Smith's store in London yesterday morning. A passenger and a girl
in the shop suffered minor injuries.

mmmmmmmml

Freed hostages tell
of torture, beatings

(Continued from Page 1)
"I WAS also beaten in most places,"
he said. "If they got angry they would
beat you and then they would offer you
orange juice."
The Sunday night rescue ended a
terror-filled drama that began when the
Arab-speaking hijackers seized the A-
300 Airbus with 166 people aboard after
a stop in Dubai, the United Arab
Emirates, en route from Kuwait to
Pakistan.
Women, children and some other
passengers were released in groups
beginning last Tuesday, but the
hijackers - armed with pistols and ex-
plosives - killed two American
passengers, one Tuesday and the
second Thursday.
The State Department identified

them as Charles Hegna, 50, of Wausau,
Wis., and William Stanford, 52, both
employees of the U.S. Agency for Inter-
national Development, although a
spokeswoman said positive iden-
tification could not be made until the
bodies were returned.
In Kuwait, officials praised Iran's
rescue and government sources said a
jetliner was ready to fly to Tehran to
retrieve the passengers.
In Washington, a White House
spokesman said President Reagan
commended Kuwaiti leaders for not
submitting to the hijackers' demands
for the release of 17 people imprisoned
for bombing the U.S. and French em-
bassies and other targets on Dec. 12,
1983 in Kuwait.

STUDENT ACCOUNTS:
Your attention is called to the following rules passed by the Regents at their
meeting on February 28, 1936: "Students Shall pay all accounts due the
University not later than the last day of classes of each semester or summer
session. Student loans which are not paid or renewed are subject to this reg-
ulation; however, students' loans not yet due are exempt. Any unpaid ac-
counts at the close of business on the last day of classes will be reported to
the Cashier of the University and
"(a) All academic credits will be withheld, the grades for the semester or
summer session just completed will not be released, and no transcript of
credits will be issued.
"(b) All students owing such accounts will not be allowed to register in
any subsequent semester or summer session until payment has been
made."

RACKHAM PRE-DOCTORAL FELLOWSHIP
DEADLINE FEBRUARY 1, 1985
Rackham graduate students who will be candidates by February
1 st are eligible for $5,000 plus tuition for 1985-86.
Students must be nominated by departments.
Check soon for deadlines.
Fellowship Office
160 Rackham
76 4-221 8

Anti-Apartheid protesters
demand economic sanctions

Ni (Continued from Page 1)
initiated by the Rev. Leon Sullivan of
Philadelphia in 1977 that requires U.S.
.-companies to practice non-
discrimination in job training, pay
scales and other employment practices
in South Africa.
Several businessmen interviewed by
telephone say the so-called Sullivan
principles have helped improve con-
"ditions for black worker in South
Africa. "We have reasonable personnel
practices," said Al, Rankin of the.
Marriott Corp.
CRITICS OF American business fir-
ms, such as South African labor
.organizer Mike Murphy, say the
Sullivan code amounts to "window-
dressing."
American investment in South Africa
totals an estimated $2.3 billion, about 1
percent of all U.S. investment overseas,
according to the National Assocation of
Manufacturers.
The Chamber of Commerce of the
United States last year opposed a House

approved bill that would have barred
any new U.S. investments in South
Africa, and could be expected to do
likewise next year. The proposal, in-
cluded in export trade legislation, died
in a House Senate conference commit-
tee.
IN A related matter, Bishop
Desmond Tutu, a leading anti-apar-
theid campaigner in his native South
Africa, accepted the 1984 Nobel Peace
Prize yesterday after a bomb scare in-
terrupted the ceremony for an hour and
20 minutes.
A telephoned bomb threat caused
police to evacuate the ceremonial hall
and ask King Olav V, Tutu and hun-
dreds of guests to stand outside while
specialists and bomb-sniffing dogs
checked the hall. No explosives were
found.
The guests then went back inside to
hear the black Anglican bishop hail the
award as justification of his non-violent
campaign against South Africa's white
minority government.

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(Continued from Page 1)
of Ulrich's and U-Cellar preparing for
the fight to hold onto their customers.
Musser said Ulrich's will wait to see
-how strong Barnes and Noble's
business is after the January book rush
before initiating a new marketing plan.
But Bruce Weinberg, manager of U-
Cellar, said he isn't going to sit and
wait. He said his store will probably
lose many of its freshpersons and
sophomore shoppers who live in West
and South Quads to the Union store.
The U-Cellar is flaunting its status as
the "Official University of Michigan
.Bookstore" in advertisements to hold
onto customers out of loyalty to the 15-
year-old non-profit establishment.
"We were founded by the regents. at
the University of Michigan. Barnes and
Noble just pays rent to the Michigan

Union," said Weinberg. "We hope that
this makes a difference to the students
and faculty."

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