Word: sparing
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Dates: during 1990-1999
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INHERITED IRAS The IRS seems to agree with fund companies that allow inherited IRAs to pass on after you do. In a private-letter ruling, the agency has given the go-ahead for nonspouse beneficiaries to roll the accounts over. The maneuver can spare your heirs a hefty tax bill by avoiding the customary one-time cash-out. Naming another beneficiary will not extend the life of the account, and payments must be distributed at least as rapidly as the pace set by the original owner, regardless of who receives the cash...
RUNNING EMPTY Worried about toting a potentially incendiary jug of extra fuel in your trunk? Your answer may be Spare Tank. It's a gasoline derivative much less combustible than ordinary gas, thus less likely to explode. Still, it packs enough punch, when mixed with residual fuel in your tank, to get you to the next station. Cost: a high-octane $24.99 a gallon...
ROSEANNE Major NBC stations yanking her low-rated show in the fall. Anybody got a spare sitcom...
...Republican moderates decided to spare neophyte Speaker Dennis Hastert the embarrassment. In exchange for a hastily scrawled amendment tying the later years of a 10-year, $792 billion tax cut to promised reductions in the national debt, the "Hell no" folks said "What the heck" and climbed aboard a GOP ship that, says TIME White House correspondent Jay Branegan, won?t sail very far anyway. "If Clinton got this as the final bill, he?d veto it," he says. "This is merely an opening gambit for the most ravenous tax-cutters in the party ?- Bill Archer & Co. in the House...
...Frank Wilson & the Cavaliers in 1964, Last Kiss is on the compilation album No Boundaries: A Benefit for the Kosovar Refugees. Pearl Jam singer Eddie Vedder decided to cover the tune after finding a 45 of it in an antiques store. It's a spare, morose song with Vedder's voice warbling lovelorn over a straight-ahead drum beat. Going back to basics has put Pearl Jam back...