Talk of the day
By Times Staff Writer
Published February 15, 2008
Delayed filers get IRS go-ahead to use 5 forms
The Internal Revenue Service informed taxpayers Thursday that they can now file returns with five forms affected by late congressional action to fix the alternative minimum tax. Congress didn't act until December to put a one-year freeze on growth of the alternative minimum tax, a levy originally meant to hit only a small number of very wealthy people that now affects millions of middle- and upper-middle income taxpayers because the tax was never adjusted for inflation.
The five forms are:
- Form 8863, Education Credits.
- Form 5695, Residential Energy Credits.
- Schedule 2, Form 1040A, Child and Dependent Care Expenses for Form 1040A Filers.
- Form 8396, Mortgage Interest Credit.
- Form 8859, District of Columbia First-Time Homebuyer Credit.
Oscar show also a big game for ads
Sponsors of the ABC broadcast of the Academy Awards on Feb. 24 are deciding that the show is no country for old ads. Marketers will spend an estimated $1.6-million for each 30 seconds of commercial time during the program, and many are planning to run spots previously unseen by consumers. They are treating the Oscar show as if it were the Super Bowl, when viewers pay more attention to the commercials because they have been conditioned to expect new spots that are the best of Madison Avenue - or, at least, what Madison Avenue considers its best. One Oscar advertiser, J.C. Penney, will use its spots to bring out a new line of clothing and home goods under the American Living name, which is being introduced in partnership with Polo Ralph Lauren.
Ford puts Fiesta on global journey
Ford Motor Co. on Thursday confirmed that its new subcompact car will be called the Fiesta in markets worldwide. Ford had said the global vehicle would be coming to market, but hadn't revealed whether it would keep the Fiesta name or choose something new. Ford has sold 12-million Fiestas since the small car went on sale in Europe in 1976. The new version was designed in Europe and will go on sale there this fall in three- and five-door hatchback styles. Other versions of the Fiesta, including a four-door sedan, will be sold in North America, Asia, South Africa and Australia by 2010. Ford plans to unveil a production-ready version of the Fiesta at the Geneva Auto Show next month. The new Fiesta is the first product to come out of Ford's new global development program.
Last-minute lovers clog up card sites
Some greeting card Web sites had trouble meeting demand on Valentine's Day, a performance-measurement company said. Keynote Systems Inc., whose automated probes in 10 U.S. cities check sites every 15 minutes, said that at times, only 30 percent of the attempts to reach those sites succeeded, with visitors unable to access the electronic cards they received or reach a site's home page the rest of the time. Keynote said sites that usually load in 2 or 3 seconds were taking an average of 12 seconds or longer. The Web site for Hallmark Cards Inc. was inaccessible or slow starting about 6 a.m. Keynote said. It was back to normal by late morning but got slow again around noon.