Masonry Magazine October 1971 Page. 18
IMMEDIATE DELIVERY from STOCK
of
CONCRETE SAWS
MASONRY SAWS
STONE SAWS
and
DIAMOND BLADES
ABRASIVE BLADES
Cardinal
ENGINEERING CORPORATION
The oldest and most experienced
full line manufacturer
in the industry.
Over 21 years of cutting knowledge and experience is built into every blade and saw we manufacture. This serves to make your job a bit more profitable. And to sweeten those profits, we offer an unbeatable discount schedule.
Try Cardinal. Call collect, or write to Cardinal, for information and prices on these profit-yielding saws and blades.
18
Cardinal
ENGINEERING CORPORATION
100 Barren Hill Rd. Conshohocken, Pa.19428
(215) 825-2200
Taxes
(Continued from page 17)
life insurance protection on the lives of insurable participants. However, the plan provided that an employee shall become a participant only after signing a prescribed form authorizing salary withholding in accordance with the plan and taking a physical examination to determine his eligibility for life insurance coverage. Failure to sign the form or to take the physical examination within 6 months of receiving a written notification was caused to bar an employee from participation in the plan.
The IRS was asked whether this contributory pension plan would fail to qualify merely because it denied participation to employees who did not authorize the salary withholding or take a physical examination for life insurance coverage in accordance with the terms of the plan.
The IRS first pointed out that the plan provided for adequate notice to all employees of the requirements. Then, the IRS advised that the plan would not fail to qualify. The requirements were uniformly applied to all and did not discriminate in favor of the prohibited group. Rev. Rul. 71-312.
EMPLOYEES' MOVING EXPENSES
Over 14.5 million working people moved last year and of these a little over 1 million were eligible to claim tax deductions.
According to the IRS, employers are now required to give their employees a new IRS form that details moving-expense payments. One big advantage to this new form will be to help employees in computing the moving-expense deduction. The new IRS Form 4782, "Employee Moving Expense Information," must be given to the employee no later than January 31, 1972. The IRS also pointed out that any reimbursement for moving expenses must also be shown on the employee's Form W-2.
Since 1970, the moving-expense deduction has been expanded beyond the cost of the actual travel expenses and cost of moving household goods. Now, employees can deduct the expenses for house-hunting trips, temporary quarters, and the costs of selling the old and acquiring a new home.
The new Form 4782 is for information only and need not be filed by the employee with his return. According to the IRS copies of this new Form will be available at IRS offices after August 15, 1971. IRS News Release No. 1154.
TAXPAYER'S AIDS
130601
To help taxpayers with their questions concerning the President's wage-price programs, Secretary of the Treasury Connally has announced that in 203 cities, offices have been opened to receive, analyze, and investigate complaints and to answer questions on this program. These offices will take their orders from the Office of Emergency Preparedness, which has the responsibility of carrying out the wage-price freeze program.
TRUCK DAMAGE
A truck owner sought the proper means of taking a casualty loss on a truck that he used in his business. The truck was partially damaged in an auto accident. Neither collision nor liability insurance applied.
When the owner traded the damaged truck in for a new one he was allowed a trade-in value of $400.