IRS Will Remove Debt Indicator Next Filing Season:
Mon, 08/23/2010 - 14:44 | by Tayla Flanders
As tax preparers, we usually receive a notification when e-filing a person's return, whether the person will have any part of his or her refund reduced for delinquent taxes or other debts, such as unpaid child support or delinquent federally funded student loans. This acknowledgment is known as the debt indicator , and is used as an underwriting tool for Refund Anticipation Loans (RALs). Starting with next year's tax filing season, the IRS will not provide tax preparers and associated financial institutions with the debt indicator.
Employer-Provided Health Coverage
Thu, 08/19/2010 - 15:26 | by Sherry Inouye
Starting in the tax year 2011, the Affordable Care Act requires employers to report the value of the health insurance coverage they provide employees on each employee’s annual Form W-2. This reporting is for informational purposes only and is to show employees the value of their health care benefits so they can be more informed consumers. The amount reported does not affect tax liability, as the value of the employer contribution to health coverage continues to be excludible from an employee’s income and it is not taxable.
Great Adventures of a Different Kind
Wed, 08/18/2010 - 08:26 | by Sheri
On July 23, Miles (my oldest), Hannah (Miles' girlfriend), Troy (Jim's oldest); Jeff (my youngest) and Mark (friend of Miles') set off to climb to the top of Mt. Rainier. They took their time and paced themselves and reached the summit Sunday morning as planned. This was the second time Miles had climbed, but the first time as the leader and guide to a group.
He loves the outdoors and loves climbing mountains, but more than that - he loves Hannah. All went according to plan - even when they reached the summit……On Sunday, July 25, while "on top of the world" - Miles bent down on one knee, opened the box with the ring and asked Hannah to marry him!!! Hannah was very surprised and said YES!!!!
