Friday December 4, 2020
News
Your Living Trust Choices
The living trust is becoming quite a popular estate planning strategy. It costs more than a will, but includes many features that are helpful during life and in your estate. Let's review some of the basic principles of the living trust.
Living Trust Basics
A trust is created by transferring property to a trustee. The trustee is required to follow the provisions of a written trust document. That document identifies the individuals who will receive the income. In most cases, there are reasons or grounds for invading the principal for the...MORE
IRS on Schedule For Tax-Filing Season
IRS Commissioner Charles Rettig testified before the House Ways and Means Oversight Subcommittee on November 20, 2020. He reported that the IRS is on schedule for the upcoming tax season.
Rettig was asked about the backlog of millions of pieces of mail stored in IRS warehouses during the COVID-19 shutdown. He explained that the IRS still has about three million pieces of unopened mail, with an estimated one million unprocessed income tax returns from last year.
Rettig also discussed the efforts of the IRS to continue operations during the COVID-19 pandemic. He noted, "More than two years into my term as Commissioner, I remain extremely proud to be working for the IRS and excited about the future of our...MORE
How to Save Money on Prescription Eyeglasses
What tips can you recommend for finding affordable prescription eyeglasses? I used to have vision insurance through my work but lost it when I turned 65 and signed up for Medicare.
Unfortunately, in...MORE
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