Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

Page 10 Associates Christmas Shop Early Once again it’s that time of the year to start looking ahead to the excitement of the fall months and anxiously await the arrival of the Christmas season. Clinton Mills associates have gotten an early jump on the holiday season as hundreds of active and retired associates visited the company's Christmas displays to select their own special Christmas gift from the company. Clinton Mills began the gift selection program many years ago to show its appreciation for the loyalty of its associates and asan additional meansof saying "Thank you" for many valuable contributions made throughout the year. Special booklets bearing a message from President Thad Williams were distributed on the job to associates. Eligible Old Timers received a president’s letter inviting them to participate in the program. The "Christmas in October" gift program is designed to meet the wishes of all associates. A wide assortment of items including lamps, wooden boxes, rugs, mirrors, Bibles, blankets, children's toys, garden tools and household and recreational items have been included. In keeping with Clinton Mills’ long commitment to the “Made in the U.S.A." theme, only those items made in the United States are included in the selection book. Mrs. Lois West retired recently from the Bailey Plant Cloth Room. She had been with the plant since September 17, 1967. At the time of her retirement, she was a Quality Controller. Cloth Room Superinten dent Steve Lanford complimented Mrs. West on her excellent attend ance and positive attitude she showed throughout her employment at Bailey. Federal Tax Laws Changed The Tax Reform Act of 1986 made sweep ing changes in the Federal tax system — changes that will touch you and every other taxpayer in the nation. It’s up to you to know which of these changes affect your taxes. In late December the IRS will be mailing your 1987 tax return package that will in clude information on these and other tax changes. Meanwhile, if you want to, you can get more detailed information by ordering IRS Publication 920, “Explanation of the Tax Reform Act of 1986 for Inividuals." You can use the worksheet at the end of Publication 920 to figure whether you will get the refund you expect or whether you may owe tax. Do you know these facts about the new tax law? • The tax rates have been reduced. • The amounts of the standard deduction and the personal exemption have been in creased for most people. • Some deductions have been eliminated, such as sales tax, long-term capital gains and the deduction for married couples who both work. • Other deductions have been limited, such as interest, IRAs and some business expenses. • Rules for students and other depen dents who have income have changed. Some may have to pay tax for the first time. Social Security Tax Increase in 1988 Social Security taxes for both you and the company will increase in 1988. The new deduction for Social Security taxes will increase from the present 7.15 per cent to 7.51 percent in 1988. For the year 1988 Clinton Mills will match dollar for dollar employees’ Social Security taxes on earnings up to $45,600, up from $43,800 in 1987. OCTAL The Tax Reform Act of 1986 requires that all dependents age 5 and over listed on tax returns filed after January 1, 1988, be identified bya Social Security number. Taxpayers are urged to get a Social Security card as soon as possible for their dependents to avoid a last minute bottleneck that could delay their Social Security number application. Listed below are some of the most frequently asked questions about the new law. Q. How soon must I get a Social Security number for my dependents? A. As soon as possible. You will need to show the number on your 1987 Federal tax return which is due by April 15, 1988. Since it will take some time to get the number after you apply, don’t wait until the last minute. Q. How do I go about getting the number? A. You must complete an “Application for a Social Security Number Card” (Form SS-5) available by mail or in person at any Social Security office. Also, an appointment to apply can be made by phone. If a dependent is 18 or over or was born outside the United States, the application must always be made in person. Q. I understand that the number of people applying for a Social Security number in 1987 will just about double. Won't this mean longer waits for service at the Social Security office? Is there any other way to apply for a number A. Social Security is seeking the cooperation of schools and local organizations to help people get Social Security cards. Call your local Social Secuirty office to see what alternative arrangements exist in your area. Q. What “proofs" are needed before a Social Security number can be issued? A. Social Security needs evidence of: date of birth. United States Citizenship or lawful alien status, and identity. A public birth record generally can be used as proof of both date of birth and citizenship. Original or certified copies of original documents are required. A number of documents can be used as proof of identity, including school or medical records; a membership card in a youth organization; a day care record; and certain other documents. A parent applying for a child at a Social Security office also needs proof of his or her own identity. Q. How can I get more information about applying for a Social Security number? A. You can call 1-900-410-INF0. There is a charge for this 2-minute recording. If still more information is needed, you will be given a toll-free "800” number so you can talk with a Social Security representative.