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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Nov. 15, 1978)
Page 12 THE BATTALION WEDNESDAY, NOVEMBER 15, 1978 IRS won’t get employer W-2s Vast pools untapped Major changes have been made in the reporting of wages by employers for 1978, says, Jiqlly Rises, district manager in Bfyaq of the Social Se curity Administration. Rees said wages are no longer re ported on a quarterly basis. In stead, wages will be reported annu ally on Form W-2. Quarterly summary reports of total wages paid and taxes withheld are still required by Internal Reve- Aggie Players and Theater Arts Section present Pulitzer Prize Winner by Archibald MacLeish Nov. 13-18 8 p.m. Rudder Forum G&noral Mm. - $3 TAMU Student - $2 Tickets at Rudder Box Office nue Service on revised Form 941. However, he said. Form 941A, which formerly gave the names, so cial security numbers, and quarterly wages of employee, is now obsolete. A second major change is that an nual wage reports on Form W-2 should be sent to the Social Security Administration instead of to the Internal Revenue Service, Rees said. Detailed instructions for W-2 forms are in the revised Circular E • Supplement, which is available in any Internal Revenue Service dis trict office. The Social Security Administra tion is strongly encouraging larger employers with computer capability to report the annual W-2 wages on magnetic media, he said. The Social Security Administraton data pro cessing center in Baltimore is able tape, disk cartridge e anddSls C C l| HI. <1 H0W0St Oil tlttHl Reporting by magnetic media has several advantages. Costs of pro cessing reports on magnetic media are much less than processing paper reports, leading to tax savings, Rees said. Other advantages are reduced costs for the employer, greater ac curacy, prompter processing, re duction in mailing and handling cost and less storage of paper employer records. Employers will also have greater flexibility in designing their own Form W-2 for employees, re ducing the cost of forms. Employers who have computer capability should contact Pat Insko, wage reporting specialist, for details at 16510 Northchase, Suite 210, Houston, Tx. 77060, or call 226- 5798. AIR FORCE ROTC - HERE ARE THE When you’re discussing something as important as your future, it’s urgent that you get the straight facts . . . and that you understand them. Air Force ROTC can be an important part of your future. We would like to outline some of the facts and invite you to look into gathering more. It’s a fact: the Air Force needs highly-qualified, dedi cated officers. . . men and women. It’s a fact: we need people in all kinds of educational disciplines. It’s a fact: we’re prepared to offer financial help to those who can qualify for an Air Force ROTC scholarship. Get together with an AFROTC representative and discuss the program. We’ll give you all the facts. It could be one of the most important talks you’ve ever had with anyone about your educational plans. Gateway to a great way of life. United Press International TOKYO — A new star is join ing the cast of the 20th Century’s great economic drama — the pursuit of money and power from oil. China, a late comer to the show, apparently is sitting on one of the world’s last big untap ped pools of petroleum. Energy Secretary James Schlesinger recently said China’s oil reserves may amount to at least 100 billion barrels, more than three times the proven re serves in the United States. Schlesinger had just com pleted a three-week tour of China, during which he offered American cooperation in de veloping China’s coal, oil and hydroelectric power resources. Chinese officials told him their goal was to raise oil production to between 4 million and 6 million barrels a day by 1985. That would put China in the same league with such oil titans as Iran and the United States. “China has visibly come to a turn in the road,” the energy secretary said. “The emphasis is wholehear tedly on economic progress. There is no longer emphasis on ideological differences. They have found ideological refine ments don’t produce any goods.” The giant oil companies of the western world like Shell, British Petroleum, Gulf and Standard originally developed most of the world’s big oil fields outside the communist bloc. They do not seem likely to get much of the action in China, at least for the time being. Simply by persistence and study, the Chinese have got the hang of oil drilling. They still lack the technology for drilling wells in deep water offshore, a field where the big Western countries have a monopoly. That might eventually give them a role^ the Chinese go into deep ^ drilling. Schlesinger thinks i is unlikely to happen before 1 or 1983 at the earliest. China’s oil industry was 1» of desperation. The co government there came in 1949. Its relations America went into a long, freeze when China sided «j North Korea in the 1950-531! rean War. According to estimates oft U.S. Bureau of Mines, Cl® oil output in 1976 reached million barrels. The bur guessed China’s 1977 output 682 million barrels. Schlesinger says output year will lie about 750 mil barrels. Asked whether Cli can meet its ambitious prod tion goals for the mid-UK Schlesinger offers a cautious swer: “It is not impossible. U.S.-China trade growing says agriculture secretary United Press International HONG KONG — China will likely become a “regular and signifi cant purchaser of American grain and cotton in the next few years, U.S. Agriculture Secretary Bob Bergland said Tuesday. Bergland told persons at a Hong Kong press conference following his 10-day trip to China that he is cer tain there will be "noticeable expan sion of agricultural trade between the two countries.” The Chinese will most likely be come “regular and signficant pur chasers of American grains and cot tons in the next few years,” Berg land said. The Bergland delegation was the highest ranking U.S. agricultural group to visit China since the Communist takeover in 1949. It was one of a growing number of U.S. at tempts to open trade with the Asian giant despite the absence of dip lomatic relations between Washing ton and Peking. In recent weeks, American offi cials and businessmen have dis- MANOR EAST 3 THEATRES 7:25 9:45 7:30 9:50 7:20 9:40 SATURDAY NIGHT FEVER THE BIG FIX SOMEBODY KILLED HER HUSBAND Skyway Twin SENIORS PLUS SUMMER SCHOOL TEACHERS GROOVE TUBE PLUS GUESS WHAT HAPPENED IN SCHOOL TODAY Campus ■ Kris Kristoferson CONVOY Now Better Than Ever. You Will Be Pleased With These Carefully Prepared and Taste Tempting Foods. Each Daily Special Only $1.69 Plus Tax. “Open Daily” Dining:11A.M. to 1:30P.M. —4:00 P.M. to7:00 P.M. MONDAY EVENING SPECIAL Salisbury Steak with Mushroom Gravy Whipped Potatoes Your Choice of One Vegetable Roll or Corn Bread and Butter Coffee or Tea TUESDAY EVENING SPECIAL Mexican Fiesta Dinner Two Cheese and Onion Enchiladas w/chili Mexican Rice Patio Style Pinto Beans Tostadas Coffee or Tea One Corn Bread and Butter WEDNESDAY EVENING SPECIAL Chicken Fried Steak w/cream Gravy Whipped Potatoes and Choice of one other Vegetable Roll or Corn Bread and Butter Coffee or Tea THURSDAY EVENING SPECIAL Italian Candle Light Spaghetti Dinner SERVED WITH SPICED MEAT BALLS AND SAUCE Parmesan Cheese - Tossed Green Salad Choice of Salad Dressing - Hot Garlic Bread Tea or Coffee FRIDAY EVENING SPECIAL BREADED FISH FILET w/TARTAR SAUCE Cole Slaw Hush Puppies Choice of one vegetable Roll or Corn Bread & Butter Tea or Coffee SATURDAY NOON and EVENING SPECIAL Chicken & Dumplings Tossed Salad Choice of one vegetable Roll or Corn Bread & Butter Tea or Coffee “Quality First” SUNDAY SPECIAL NOON and EVENING ROAST TURKEY DINNER Served with Cranberry Sauce Cornbread Dressing Roll or Corn Bread - Butter - Coffee or Tea Giblet Gravy And your choice of any One vegetable closed plans to help China develop coal mines and build dams, con struct a chain of tourist hotels and offer loans to Peking for trade and development. China has purchased 4.35 million tons of wheat and corn and 305,333 bales of cotton from the United States for shipment during the cur rent marketing year. Bergland said he does not know whether increased purchase) I the United States will beat! I pense of China’s tralsf suppliers, Canada and Auslui Assistant U.S. Agricultures | tary M. Rupert Cutler, oneoll members of the Bergland tion, told reporters the States and China have agreed change teams of scientists toi | various agricultural subjects UN panel condemn Israeli "desecrations United Press International PARIS — The adoption of an Arab motion accusing Israelofilf| I archaeological digs in Jerusalem poses the possibility of a newe for the United Nation’s Educational, Scientific and Cultural Ore zation (UNESCO). The threat of a new confrontation arose Monday whenaspr: UNESCO commission voted 59 to 22 with 8 abstentions toconde Israel’s alleged damage to Moslem monuments through archaeoi) cal digs. The general conference was expected to confirm the vote wilt few days. The move might plunge UNESCO into the same difficulties it: L to face in 1974 when the United States refused to pay itsduesi| UNESCO condemned Israel for its archaeological digs and for ing Arabs of education in its territories. The United States voted against the Arab motion, backed h) I Soviet bloc. Unlike 1974, however, the U.S. delegation didnlil the heated debate over the draft. U.S. delegate Russel Heater later said, “I remained silent in w not to further inflame debate in this forum to the detriment ofnj important negotiations.” He indicated his delegation didn’t want to stir any debates might hurt the touchy Egyptian-lsraeli peace talks. Heater, however, served notice that “my silence doesnotim way mean a weakening of my government’s opposition to the res tion, condemnation or sanction which my government deplore) unconstitutional, unfair and contrary to normal practices belli states.” Israeli delegate Amiel Najar rejected the Arab accusations as s ply absurd and intolerable.” “It is evident,” Najar said in the packed meeting hall, “that ill illegal sanctions applied to Israel are maintained, such an would not be understood either in Israel or the world.” Li 846-6714 & 846-1151 846-6714 & 846-1151 _ UNIVERSITY SQUARE SHOPPING CENTER „ CINEMA na i i y 1:30 3:30 5:30 7:30 9:30 □ "SGT PEPPER’S LONELY HEARTS^ [PofCLUB BAND”) f 1 || CINEMA NA119NAI. ANIMAL The Elegant of Lingerie* For You The Soft Tool 707 TEXAS . 846-1972 MSC AGGIE CINEW Henry V Laurence Oliver Leslie Banks The film is a magnificent evocation of England, it’s Kin! it’s people and it’s glory. Play by William Shakespeare Directed l>) Laurence Oliver Wednesday November 15 8 P.M. Rudder Theater wy Kshiihstt; i