Word: iras
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Dates: during 1980-1989
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...millions of Americans, last week was the final chance to cash in on one of the greatest tax breaks of all time: the Individual Retirement Account, or IRA. Since 1982, when IRAs became available to all workers, some $320 billion has been stashed away by 28 million households in the handy, tax-deductible, tax-deferred savings vehicles. With tax reform, however, the rate at which IRA money will be saved beginning in the 1987 tax year could fall drastically. Amid the crush to use the plan for a 1986 deduction, money managers were struggling hard to educate consumers about...
Under the rules that expired on April 15, virtually all taxpayers in the 87 million U.S. households could take a deduction on their IRA contributions of up to $2,000 a year; they pay no income taxes on their investments until they retire. Now only single taxpayers earning $25,000 or less and married couples with incomes of $40,000 or less can take the full IRA deduction. (Taxpayers in any income bracket who have no pension or profit-sharing plan at their workplace can do the same.) Single people earning between $25,000 and $35,000, and married couples...
...theory, about 90% of U.S. taxpayers remain eligible for the full IRA deduction next year. The evidence suggests, however, that they are less likely to use the savings device. In putting together last year's tax package, the Senate Finance Committee discovered that in 1984, less than 8% of all households with incomes under $30,000 -- a group representing 76% of U.S. taxpayers -- made IRA contributions. At the same time, 59% of all households with incomes above $50,000 invested in IRAs...
...grand night for singing. Bob Dylan wrapped his angry adenoids around the Gershwin ballad Soon, and Madeline Kahn, Maureen McGovern and Julia Migenes ganged up gorgeously on Someone to Watch Over Me. Last week's gala tribute to George and Ira at the Brooklyn Academy of Music provided a pretty fine evening of dance as well, with Mikhail Baryshnikov, Harold Nicholas, Gregg Burge and the Mutt-and-Jeff tandem of Tommy Tune and Drew Barrymore finding new steps for some unforgettable old melodies. Nor would anyone think of shooting the piano players. Michael Tilson Thomas opened with Rhapsody in Blue...
...Theresa's home it's Deirdre (Robin Mosely) who causes trouble. Her IRA husband is in jail for murder and she feels hemmed in by her life with her three young children. Her sister Joan (Susan Pellegrino) is a neat freak on the way to spinsterhood...