Arizona Republic from Phoenix, Arizona • Page 47

Wednesday, December 30, 1998 The Arizona Republic E3 CnEOlllOll. BUSINESS Italy enthusiastically embracing euro I (J Italy's small businesses dodge taxes like crazy lift, A. IIIOERS Phone-line facts The North American Numbering Plan governs phone number assignments for the United States, Canada and the Caribbean. The basic phone number has 10 digits, including the area code. Some areas require the dialing of "1" before the 10 digits.

THE AREA CODE: The first three digits. The United States has 205 area codes, plus special codes for toll-free and other calls. Canada has 20 and the Caribbean nations have 21. Before 1995, all area codes had a "0" or a "1" in the middle digit in order to let phone equipment recognize the number as an area code. That restriction was lifted in 1995 because the industry was running out of combinations.

The first digit of the area code is never a "0" or a "1." THE PREFIX; The middle three digits, also called the exchange. These digits tell computer and switching equipment how to route a call to a specific central office within an area code. The numbers also help with billing, as two billing regions may not have the same prefix. Each area code has 792 prefix combinations. The first digit is never a "0" or a "1," and combinations that end in "11," such as 911, are reserved.

THE LINE NUMBER: The last four digits. There are 10,000 combinations for each prefix, and these numbers route the call to the specific telephone user. Associated Press Teenage brothers Stefano and Andrea (center) Lupino and their grandmother, Lole Valterio, prepare to play the educational game Euro. Numbering system faulted on area codes NlmCfJBNG, from Page El And, after breaking out the East Valley and Ahwatukee and the West Valley and north Phoenix, the 602 area code it is still expected to last only seven years, at best, before it will have to be divided again. The rapid depletion of phone numbers is prompting federal officials to find more efficient ways to dole out numbers.

The FCC is expected to propose new rules in the coming year. The state Corporation Commission would like to see the numbers given out in blocks and special area code overlays that would apply to cellular phones, pagers, fax machines and modems. California went from 13 area codes in early 1997 to the 23 and is projected to have at least 39 by 2001. The Chicago area went from two codes to five in 1996 and is getting at least one more. Dallas and Houston, which got new codes less than two years ago, are each getting a third code in 1999.

The system, which also covers Canada and the Caribbean, began with 78 area codes for. the United States in 1947. Forty-eight codes were gradually added through 1994. Then it sped up: 14 more codes in 1995, 11 in 1996, 32 in 1997 and 22 in 1998. Industry officials project the need for 30 new codes a year unless changes are made.

Under the block system, created in the days of the telephone monopoly, competing local carriers require a block of numbers for every billing region they wish to serve. An area code may cover dozens or hundreds of such regions. If a carrier has only 100 customers in a given region, the remaining 9,900 numbers of the block are tied up. The amount of unusable numbers grows if a start-up carrier serves several regions or if a region has several such carriers. "In a monopoly world, where there's essentially one provider, the system worked reasonably well," said Alan Hasselwander, chairman of the North American Numbering Council federal advisory panel.

As few as half the nearly 8 million number combinations for each area code are actually assigned before a new area code is requested, "We have 1.2 million people in Maine, and they could all have second lines, pagers, cellular phones launch. It hasn't all been painless. Last year, Italians paid a special euro tax to help the government meet entry criteria. Public workers marched in the streets against leaner contracts. And Communists, feeling betrayed by budget cuts for social services such as health care and pensions, yanked their support for the premier who guided Italy into euro membership, Romano Prodi, the economics professor whose coalition collapsed in October.

"Italians must not think all their problems will be resolved through the European Union and the euro," Enrico Letta, minister for European policy, said in an interview. "But I think Italians have seen their sacrifices rewarded with visible and immediate rewards." Perhaps the biggest benefits to consumers have been an easing of inflation running this year at 1.7 percent, compared with nearly 15 percent in 1983 and the free fall of mortgage rates. Just a few years ago, mortgage rates were running in the high teens, Associated Press ROME More than half the income from Italy's small businesses goes undeclared, the International Monetary Fund said in a report on the nation's endemic tax dodging. Overall, tax evasion costs the government an amount equivalent to 12.6 percent of Italy's gross domestic product, the IMF study said. That's about $1.5 billion.

Italy always has had a robust underground economy run by energetic workers who hide their profits from what they protest are the government's exorbitant tax rates. Even with tax evasion, Italy's total tax haul amounts to 43.6 percent of gross domestic product, above the European Union average of 42.6 percent, according to the IMF study. The IMF named small- and medium-size businesses as the chief tax evaders, saying 58 percent of the income of small businesses goes unreported to the government. It also laid blame on Italy's sizable self-employed sector. About 29 percent of Italy's workers are self-employed almost three times the number in Germany and more than twice that of France.

That prevalence of small or self-run enterprises "make it easier to declare lower incomes than are really earned," the IMF noted: 2003 Money Loans Service Related READ MORE For additional information on the euro, Italy's economy and international business, go online at: www.azcentral.combusiness and click on the Business World icon. rates that, by today's legal definition, would qualify as loan-sharking. Now home "buyers are snapping up mortgages at around 4.5 percent. While euro coins and bills won't be in circulation before 2002, consumers can start using credit cards to pay in euros at those shops that choose to switch early. And Italians can play with fake euros.

An educational board game Euro: Traveling Through Europe With the New Single Currency" landed in Christmas shopping baskets. 2031 2065 GREAT BUSINESS OPPORTUNITIES By Frances O'Emilio Associated Press ROME Euro-games made it on to Italians' Christmas lists this year. And Sanfa ordered up more than a few new sets of house keys, thanks to mortgage rates brought way, way down by rules to enter the euro club. Like a child delighting over a pile of presents, Italy has reacted with gusto to the European Union's plans for a monetary union, culminating in the Jan. 1 launch of the common currency, the euro.

Survey after survey says Italians are the most enthusiastic europhiles among the 11 nations joining the new single currency. A survey a year ago found 78 percent of them favored the euro, with the Irish a bit-back at 67 percent and Finns far behind at 33 percent. Four EU nations Britain, Denmark, Greece and Sweden are staying out of the euro club for now. Sure, Italy's lira was once a laughingstock currency because sky-high inflation and devaluations eroded its value compared with neighboring currencies. But studies indicate the Italian embrace of the euro is as much linked to the perception of practical benefits as to points of pride.

"Italy's adhesion to the euro is very much tied to its internal situation, its need to put its (economic) house in order," said Giuseppe Roma, director of Censis, an Italian think tank that has been monitoring the nation's euro fever. "For the first time, the country couldn't keep postponing" measures it long and badly needed to adopt to bolster its economy, he said. Among the tasks Italy tackled on its way to euro membership: It reined in government spending, slashed public debt and high inflation, brought interest rates in line with other EU members and prodded along privatization of state holdings ranging from telecommunications to banks. The tough criteria were set to bring the EU economies closer together before the euro HIDE AND PROTECT YOUR ASSETS BE A NEVADA CORPORATION IN ARIZONA GET INCORPORATED BY THE FIRST OF THE YEAR! No Disclosure of Ownership or Assets No State Income Taxes CALL 1-888-4WHYPAY Purchase or Refinance Effrcih rate l27299t. Raiw subject to change without notkt Oruin Rflrictiom pph, MB-WMIU Etfutl Homing ES Lender MIDWAY i mm BELL RD AT 1-17 866-6611 39 to.

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Federal officials are looking into such changes as assigning numbers in smaller blocks and consolidating billing regions to reduce the need for blocks. Illinois and New York are testing small-block assignments, and Colorado recently reduced the number of billing centers 60 percent. Arizona Republic reporter Max Jarman contributed to this article. new tax year class families taxpayer can use Mastercard, American Express or Novus cards to pay by calling a toll-free number. Some taxpayers with simple returns can use TeleFile, which involves filling out an uncomplicated booklet and then finishing the return with a 10-minute telephone call.

About 6 million people filed this way last year. The IRS reform law passed this summer by Congress makes other changes, particularly for people who get into a dispute with the agency. The burden of proof now will rest with the IRS, instead of the taxpayer, and the agency's enforcement activities will be overseen by a board that includes private citizens. The IRS is changing its focus to emphasize service over punishment. There are new 24-hour help hotlines and problem-solving days at local IRS offices to help people resolve difficulties at early stages.

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Assets such as stocks and bonds held for just over a- year, instead of 18 months, now qualify for lower capital gains tax rates. The details and a worksheet are found on the Schedule form. Self-employed people can deduct 45 percent of health insurance premiums they paid in 1998, up from 40 percent the previous year. The premiums become fully deductible in 2003. This year, Congress took steps to ensure that the child and education credits don't force some middle-class people to pay alternative minjmum tax, which is intended to ensure that higher-income people don't completely escape income taxes through credits or deductions.

But that exemption is only temporary, meaning lawmakers will have to revisit it to avoid the problem in the 1999 tax year. Taxpayers will have several new ways to transmit their return to the IRS. Last year, 24 million returns one-fifth of all individual returns were filed electronically, usually through personal computer software programs, over the telephone or through a professional tax preparer. Most of these taxpayers got a new e-file guide in the mail from IRS. "It's our goal to" make e-file the preferred way to file with the IRS," said Bob Barr, chief of electronic filing at the agency.

New features could entice more taxpayers to file electronically. Taxpayers who provide bank account information can direct when they want payments transferred to the IRS and can get refunds deposited directly. People who use Intuit 's Turbotax or MacInTax software can pay with Discover or other Novus cards. Any (XQP "UNLIMITED t) ACCESS" Introductory Oder Rate Sign-up at www.doitnow.coni or Call 517-20SS op 7 NOTICE OF PARTIAL REDEMPTION TO THE HOLDERS OF MARlCOPA COUNTY, ARIZONA Hospital Revenue Bonds, Series 1980 St Lukes Hospital Medical Center Dated February 1, 1980 NOTICE IS HEREBY GIVEN that there have been called for redemption on February 1, 1999, (he following Bonds of Maricopa County Arizona Hospital Revenue Bonds, Series 1980 St Lukes Hospital Medical Center, totaling $1,450,000 in principal amount as listed below: CUSIP Number: S66761GV8, 8.75 Due February 1, 2010 Bearer Bunds called in the amount of $5.000 each- ..1767 1792 1821 1829 1861 2202 2241 2302 2390 2461 2530 2595 2621 2677 2934 2936 3107 3144 3145 3400 3529 3580 3742 3846 4091 4183 4184 4209 4432 4524 4663 4745 4897 5039 5331 5433 5472 5555 5567 5801 6022 6096 6147 6158 6212 6622 6678 6880 7411 7538 8003 8009 Take Advantage of the Business Pac for as low sl as an extra $500 per Publish your ad in the Sunday Republic Classifieds (at your normal Sunday Classified Rate.) Our classifieds are Arizona's largest and most looked to source for business opportunities. We're even one of the nation's largest! Reeislered Bonds called in the amount indicated below all with prefix 21 $5,000 389 $5,000 421 $5,000 467 no Your ad will be The Wednesday 11....

530 6,000 817 5,000 873 5,000 963 270,000 975 10,000 555 5,000 822 5,000 890 5,000 964 250,000 571, 824 894 970 Wednesday "The Republic's" Business Section about small businesses. The Bonds are being called pursuant to the redemption provisions of the governing documents at a price of 100 plus accrued interest to February 1, 1999 on which date all interest on the Bonds will cease to accnie. Holders of the Bonds are requested to present their Bonds, at the following addresses: nprial hannur FarK focuses on articles Upi I JILL By Mail; The Bank of New York PO. Box 11265 New York, NY 10286 Attn: Fiscal Agencies Dept. (I0IB-7E) The Daily Classified You choose another day in the classified section the following Monday through Saturday.

The Arizona Central Web Site. Your ad will be included on the internet for one week on "Arizona the state's leading web site! httpTwww.azcentral.com BY: BNY WESTERN TRUST COMPANY as Trustee Dated: December 27, 1998 IP-. 'WLP .11 M.J II HJLLI 1... IIULUJI, NOTICE Withholding of 31 of gross redemption proceeds of any payment made within the United States may be required by the Interest and Dividend Tax Compliance Act of 19X3 unless the Paying Agent has the correct taxpayer identification number (social security or employer identification number) or exemption certificate of the payee. Please furnish a properly completed Form W-9 or exemption certificate or equivalent when presenting your securities.

The Issuer and Trustee shall not be responsible for the use of the CUSIP number selected, nor is any representation made as to its correctness indicated in the notice or as printed on any Bond. It is included solely for the convenience of the holders. a i II i J4JI i iiwli Mii.iiiii i-f -II' jl- 1 fnfemetiVow! "Voted Best SP" a..