Update For SSI, SSDI Recipients: Most Will Receive Economic Impact Payments Automatically

The US Treasury Department has begun to issue economicimpact stimulus payments for eligible individuals. Those withadjusted gross income up to $75,000 for single filers, $112,500for head of household filers, and $150,000 for married filingjointly will receive the full stimulus payment amount of $1,200for individuals and $2,400 for married filing jointly. Eligibleindividuals will receive an additional…

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Congress Passes Legislation That Will Enable Military Members to Name Special Needs Trusts as Beneficiaries of a Survivor Benefit Plan

On December 15, 2014, Congress passed the Disabled Military Child Protection Act which allows military families to protect their Survivor Benefit Plans (SBP) by allowing the benefits to be directed to a qualified special needs trust. If there are any funds left in the trust when the disabled beneficiary dies, the funds are paid back…

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Don’t Let Your Son or Daughter Leave for College Without Signing These Important Documents

Shortly after registering for school in another state, my niece became very ill and required hospitalization. A friend called my niece’s home and advised my sister-in-law of the name of the hospital where my niece had been admitted. When my sister-in-law called the hospital, they initially refused to give her any information about my niece….

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FOREIGN BANK ACCOUNTS – JUNE 2014

A recent US District Court case was decided in favor ofthe IRS and imposed foreign account reporting obligationson a taxpayer that opened an account with an onlinepoker company. The online account was a foreign accountbecause the online poker company was a foreign company,and the account’s location was determined by the locationof the institution. The ruling…

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Going Smoke-Free: More Condominiums and Apartment Complexes are Banning Smoking in Homes

One unit owner complains about the smell of smoke infiltrating her unit and claims that it is aggravating her asthma. She wants the smoker stopped and is threatening suit against the condominium board if it fails to take action. The smoker claims he has a legal right to smoke inside his unit, and his rights…

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