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Reports that the United States Internal Revenue Service (IRS) has reduced its phone staff as a result of budget cuts. What function the telephone staff carried out; Offer of a national toll-free tax help hotline by the IRS; Launch of a series of automated and computerized services by the IRS.

Focuses on the efforts of car companies to educate consumers about the leasing segment of the market. Revamp in the lease contracts of Ford Motor Co. and Mercedes-Benz; Public service advertisements run by leasing industry trade groups; Aim to encourage repeat business; Mercedes-Benz's sponsorship of leasing conferences; Increase in leasing volume; Contents of a lease contract.

Presents information on the flat tax in the United States. Views of Republicans; Advantages of the flat tax; Disadvantages of the flat tax; implications of a flat tax; Comments from various Republicans on the flat tax. INSETS: Winners and losers.;Go figure..

Warns American consumers to be careful on what offers they accepted, because the annual credit card marketing blitz has began. What the offers will include; Comments from Ruth Susswein, executive director of BankCard Holders of America in Herndon, Virginia; Find prints to look out for; What should consumers look out for.

Presents information on the flat tax, which is considered every time changes are to be made to the United States tax system. Advantages of the flat tax; Reasons the flat tax have not been instituted in the United States tax system; Claims made by the National Association of Realtors.

Presents questions and answers as they relate to the merger of First Interstate Bancorp and Wells Fargo and Company. Impact of the merger on customers; How Wells checking accounts compare to First Interstate; Concerns of a possible fee increase; Options should fee for basic banking services arise.

Discusses the impact of the consumer price index as an official measurement of inflation. Economist's say on the misdirection and overstating of the inflation rate; What the consumer price index determines; Comments from Robert Gordon, economist at Northwestern University in Evanston, Illinois; Explanation on the price index. INSET: True measure of inflation?..

Reports that the United States Labor Department will publish new rules designed to provide employees with more efficient information about investing in 401 (k) plans. Description of the interpretive bulletin; Importance of the rules; Views of Jim Sullivan of Arthur Andersen & Company; Advantages of revising the 401(k) plan rules to companies. INSET: Readying for retirement..

Focuses on the signing by President Bill Clinton, of a legislation baring California and other states from taxing pension incomes of former residents. Significance of the legislation; Information on the bill; Response to the legislation.

Presents information on the number of adults in the United States who are attending colleges in 1990s. Reference to Peggy O'Connor, Nancy Troester, and Gail Opsahl, all studying mothers; Statistical information; Reasons given by adults for going back to school; Comments from Estela Mara Bensimon, professor for the Center for Higher Education Policy Analysis at University of Southern California.

Gives advise on how Americans can benefit by setting financial resolutions in 1996. Steps to follow to be more prosperous in 1996.

Reports that charities ranging from the Jewish Education Fund to the American Red Cross are advertising in newspapers and on radio for persons to give their used cars away. How you would benefit from giving away used cars; Comments from Bennett M. Weiner, vice president in charge of the Philanthropic Advisory Service; Why there is less value in giving away depreciated property.

Discusses the challenges encountered by self-employed persons in the United States, when trying to obtain disability insurance. Personal account of Leianne Lee; Increase in home-based businesses; Comments from Bob Leith, a Northern California-based agent for Northwestern Mutual Life.

Presents question and answer on the new securities litigation reforms which were enacted on December 22, 1995. Senate's overriding of United States President Bill Clinton's veto; Specifications of the law; How existing and prospective investors will be affected by the new law; Questions if a company can grossly overstate its future prospects without worry of being sued; Definition of a professional plaintiff; Exception for small investors.

Reports that on December 20, 1995 major banks in the United States, following the Federal Reserve Bank, cut their prime lending rates to 8.5 percent. What effect will this cut have on consumers; Comments from Chris Taylor of Well Fargo Bank. INSET: Impact of the rate change..

Warns against the leasing of telephones. Disadvantages of leasing telephones; Comments from Jordan Clark, president of the United Homeowners Association; Amount of customers who lease their telephones from AT&T; Steps taken by Clark to persuade the Federal Communications Commission to sponsor telephone leasing reform; Arguments from telecommunications companies.

Presents a question and answer segment on personal finance. Information on the limits in Social Security; Seizure of assets by banks in a foreclosure; Other information.

Reports on the proposal of new rules by United States Labor secretary, Robert B. Reich that will decrease opportunities to tamper with employee pensions. Description of rules; Question, and answer session on effect of rules.

Presents the dilemma faced by working mothers in America who want to quit their jobs, and advice on the factors which should be considered before quitting. Difficulty of deciding whether to scale back from two incomes, to one income; Importance of determining how much the family income would drop; Intangibles which should be considered. INSET: Quitting: Is it worth it?, by Daniel Gaines..

Looks at how consumers can protect themselves against telemarketing fraud, which accounts for an estimated $40 billion in losses annually. Number of con artists caught who prey on the elderly, according to project `Senior Sentinel'; Details of a law which will establish a set of rules regarding telemarketing contact; When this law will go into effect; Specifications of the law; What to look for, and handle a telemarketing call.

Presents information from credit counselors in the United States on how to avoid holiday overspending. Consider priorities when thinking on spending; Consider the free gifts, persons who would require a service instead of a gift; Guidelines for choosing credit card.

Focuses on some inexpensive financial gifts that can be bought at Christmas. Prepaid phone cards; Basic guides; Why each item would be a perfect gift; Other items that would make an appropriate gift.

Presents information on the Congressional efforts to revamp the United States budget and tax structure. Comments from Ken Anderson, partner at the national accounting firm of Arthur Andersen & Company; What can be done to reduce the federal income tax increase; Information on saving for retirement.

Reports that fraud involving 401(k) retirement saving programs is a growing problem in the United States. How some companies in the U.S. have violated 401(k) plan rules; Value of assets which are in 401(k) plans; Investigations by the Labor Departments in suspected cases of abuse of plans; Precautions which employees should take.

Presents information on the CSS/Financial Aid Profiles, to-step forms required by many private colleges. Names of colleges, and universities requiring the forms; Comments from John P. Joyce, associate director of information and training at the college Scholarship Service in New York; Detail information on the forms; Advantages of the forms; Terms of the forms.

Comments on the reaction of American taxpayers to the Internal Revenue Service's (IRS) announcement about the effects of budget constraints on the agency's plans for line-by-line audits. Advantages of the demise of the Taxpayer Compliance Measurement Program; Statement by Laurie Keleman, an IRS spokeswoman; Details on two previous programs announced by the IRS.

Comments on the gripes of baby boomers on the impact that inflation is having on their chance of a good life, and how it differs from what the elderly generation enjoyed. Feeling of Kathy Stepp, a financial planner; Dispute of the struggling feeling by Stepp's parents; Background on how the elderly Stepp made it; Advice on what to do to manage your finances.

Reports that Daniel J. Pedersen author of `U.S. Savings Bonds: A Comprehensive Guide for bond Owners and Financial Professionals' suggests that the rates of United States' saving bonds are likely to decrease significantly. Perdersen's estimation on the short term rates.

Reports that the United States' Congress was in the final stages of passing a tax overhaul Bill that would change the rules relating to the recognition of capital gains and losses on investments. Information on changes; Why it might be time to accept changes; Benefits of these changes.

Focuses on the types of employee benefits that are being offered by employees in the United States. What type of benefit employees of bigger companies receive; Advantages of having employee benefits; Review of various benefits; Percentage of companies that offer workers the ability to buy life insurance. INSET: Beyond wages..

Presents information on a questions and answer session addressing the dramatic change that will affect taxpayers finances in the United States, should the bills debated in Congress become law. Information on the bills; How the bills are likely to affect taxation; Tax breaks for families; More information on the taxes.

Focuses on the minimum fund requirement policies set up by mutual funds companies. Reasons for the policy; Setting up of strong automatic investment programs by the companies; Benefits of the program to the investors.

Presents some suggestions of the steps which can be taken by one with regard to their 401(k) plans while switching over jobs. Reasons behind the popularity of 401(k) plans.

Presents the answers to questions regarding the impact of the proposed merger of First Interstate Bancorp and Wells Fargo & Co. on the customers.

Gives details of the controversies surrounding the proposed tax package in US which would make it easier for some companies to raid the employee pension plans. Opposition to the same by some groups like American Assn. of Retired Persons, AFL-CIO and others.

Presents some of the difficulties involved in executing a living trust. Focus on the troubles faced by Allan Friedman.

Presents the advantages of saving and diverting the money in investments. Opinion of Samuel Johnson, an 18th-century essayist; Note on some incidents; Some suggestions on how to save money.

Presents answers to readers' queries on insurance policies for telecommuting and home based businesses. Query on whether all homeowners insurance policies exclude reimbursement for losses due to business use of one's property; Question on if one can purchase a `rider' to insure the expensive office equipment; Cost of commercial insurance or business use rider; More.

Reports that financial planners in the United States, state that disability insurance is a necessity, since most people would be financially devastated if they were unable to work for long periods of time. Purpose of insurance; Reasons to worry even though disability program is at your disposal; Effect of being covered by state program. INSET: The going rates..

Reports on the benefits of United States tax breaks for Americans working in foreign countries. Low taxes for overseas jobs; Increased earnings; Challenges faced by overseas workers.

Gives advice to parents on the best way to balance a back-to-school budget, and still get everything for the children. Estimated amount of money parents will spend on children between age four and twelve; Comments from James McNeal, a Texas A&M University professor; His perception on children's spending patterns; Other information.

Clarifies certain financial myths to help people in their twenty-and thirty-somethings who are getting their financial life started.

Reports on lenders and mortgage brokers' scrambling for business as a result of the bust in the refinancing boom. Incentives includes in the offerings of lenders; Comments of Rick Cossano of Countrywide Mortgage; Expenses related to jumbo loans.

Presents a discussion on financial aid and financial planning for college education expenses. Includes availability of academic and athletic scholarships even for families with modest income; Bargaining of financial aid packages; Minimization of college unit requirements by Advance Placement exams, attendance of junior college and college credit exams.

Interviews Jay Baker, managing director of derivative securities at the American Stock Exchange on the exchange's Standard & Poor's Depository Receipts or `spiders' product. Description of this product; Comparison with stock index funds; Difference with ordinary equity mutual funds; Advantages of spiders and index funds; Trading mechanism for spiders.

Presents financial planning strategies in preparation of children's college education expenses. Shorter term payment of mortgage and housing loans; Early vigorous savings in 401 (k) programs; Early savings for children and aggressive investment strategy for these funds.

Reports on the situation surrounding the failed operation of private trade, and technical schools in the United States. Involvement of United States Congress in the situation; Relative comments from counsel for the United States Senate permanent subcommittee on investigations Alan Edelman; Insight into the number of schools going out of business in California.

Presents answers to some queries on the effect of the rise of US dollar against major currencies on consumers and investors.

Reports on a coalition of 14 financial companies which is planning to form a company called Smart Cash to develop the first debit card for use nationwide to make purchases. Aim of Smart Cash; Features; Facilities offered to the card holders by the company; Information on the members companies who form the coalition.

Offers advice for widows on how their marital status can affect their Social Security. Calculations of survivor's benefits; Differences in the amount that can be received by a widow marrying before the age of 60 to one who will marry after the age of 60; Hypothetical example.