Tag: IRS

Certain Individual Taxpayer Identification Number holders must renew their ITINS

Certain taxpayers will need to renew their Individual Taxpayer Identification Numbers (ITINs) beginning this fall, the IRS recently announced. ITINs are tax processing numbers that are issued to foreign nationals and others who do not qualify for Social Security numbers

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Be aware of the details on required minimum distributions

It is important for taxpayers to be informed about required minimum distributions (RMDs) from IRAs so that they can plan accordingly for their retirement. In the current year, those persons age 70 ½ or older are required to take a

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Musings on Financial Aid

My oldest child is a senior in high school, and we are filling out the financial aid forms for the first time. There has been a big change in the world of collegiate financial aid. In prior years, the Free

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Mail fraud and tax evasion charges filed against former New York attorney

A six-count indictment was unsealed on July 8 against a former New York attorney in federal court in New York. Joseph Scali was charged with structuring cash transactions, mail fraud, tax evasion, obstructing the IRS, perjury and obstruction of justice.

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Beware of Scams Targeting the Elderly

Many seniors are at risk of falling victim to con artists who prey on them in an effort to gain access to their savings and any assets they have accumulated over the years. An example of such a scam occurs

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What you should know if you inherit your parent’s home

Many people will inherit the house in which their parents lived. Deciding what steps to take with respect to the house can cause you to confront some financial and emotional concerns, and matters can become even more complicated if you

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What you should know if you inherit your parent’s home

Many people will inherit the house in which their parents lived. Deciding what steps to take with respect to the house can cause you to confront some financial and emotional concerns, and matters can become even more complicated if you

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The “10 Most Gruesome Estate Planning Mistakes” series. Mistake #1: Dying Intestate

To die intestate means that you died without a valid Will. If you die without a Will or some other form of estate planning, the state in which you reside and the IRS will simply make one for you. Of

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You Own Your Business – It Is Not Just a Job

New agents tend to look at their new insurance business as a job. That is a big mistake. Since you own your business, you need to work to make it viable. It is an investment in your future and a

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Protect yourself against these common debt collection scams

There will always be someone out there who, given the chance, would not hesitate to steal your hard-earned money from you. This post will help you spot a scammer a mile away and keep what’s yours. One popular racket among

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