Here’s something else the Federal Government’s not good at stopping: tax fraud. In fact, according to a new report from the associated press, the Internal Revenue Service refunded over $4 billion in fraudulent tax returns over the last several years to criminals who stole identities and filed false tax returns.
How much money would you have to be paid to quit your job? Amazon is betting they can get some of their warehouse workers to quit for as little as $5,000. Why would Amazon promote a pay to quit program? According to CEO Jess Bezos in his letter he issued to Amazon shareholders on Thursday he wants to make sure the company employees people who really want to work there.
One of the most common questions investors ask is, “How much do I need to invest today to ensure I have a good retirement?” Investment reporter Matt Krantz from USA Today suggests the number may not be a difficult to determine as we thought. In fact, according to investment analysis done by investment management firm T. Rowe Price if you save $82.28 per day you should be able to retire in thirty years with enough wealth to sustain you for another thirty years, even with inflation. Unfortunately, many seniors will fall woefully short and will not have enough money to retire.
Although there was a last minute potential bidder for Brookstone, the specialty retailer who filed Chapter 11 bankruptcy protection on Thursday, the company has announced today it will be bought by Spencer’s retail chain for $147 million. The bid is part of a prepackaged bankruptcy plan Brookstone will submit to the bankruptcy court.
The Associated Press reported yesterday that Detroit, who has filed the largest municipal bankruptcy filing in the history of the United States, has submitted an updated repayment plan to the federal court. The repayment plan reveals new details on the actions the city will take, to not only restore public services, but also how they plan to restructure their debts.
Brookstone, the specialty retailer who is expected to file bankruptcy any day now, may have another bidder for the company. Although plans had been made for Spencer Spirit Holdings Inc, which owns the retail chain Spencer’s and costume retailer Spirit, to purchase Brookstone, Reuters reports Blucora may enter the fray.
The reverse mortgage, it seems like the perfect solution to get money now. It lets seniors who are 62 years and older convert a portion of the equity in their home into cash without having to sell. Reverse mortgages have become increasingly popular for seniors who are facing high medical expenses, living longer than ever and whose house is their largest asset.
It’s not just the Federal Government who is defending their right to your data, now Microsoft also joins the fray by admitting in federal court documents this week that they are also willing to use the same tactics if necessary. CNN reports that Microsoft has admitted they “forced its way into a blogger’s Hotmail account to track down and stop a potentially catastrophic leak of sensitive software.” Not only did the company not defend their decision, they said it was “justified.”
Mt. Gox, formerly the world’s biggest bitcoin exchange, filed for bankruptcy protection in Japan in February and last Monday received bankruptcy protection from the United States courts to temporarily stop any legal action against the company.
With April 15th right around the corner many of us are collecting our financial records and calculating our taxes. But have you ever wondered what might make you the target of an IRS tax audit? According to experts there are several factors that can raise the red flag.