Comments for Forefield Forum

Comment on October 15 Deadline for 2008 Economic Stimulus Payments by Stunaraid

Stunaraid — Mon, 23 Nov 2009 20:27:08 +0000

interestinggggg ))……..
http://smileyhost.net/56/B/i.png

Comment on After Section 151A, What’s Next? by Scott Hoff

Scott Hoff — Sat, 21 Nov 2009 21:52:05 +0000

Brokers looking to to prepare for future regulations should consider affiliating with a Broker Dealer with a background in life insurance. Marketers of fixed annuities might consider establishing a relationship with a wholesale broker dealer.

Comment on Linking student loan payments to income by Jack Black

Jack Black — Sat, 21 Nov 2009 13:08:03 +0000

i agreed that the loans could be for undergraduate, graduate or professional studies, as well as for job training.

Comment on Beware of stranger-initiated annuity transactions by NW

NW — Sat, 21 Nov 2009 03:25:27 +0000

Nationwide is calling these STOVA. Stranger Originated Varriable Annuity.

Comment on Employer plan to Roth rollovers… Can you make a tax free rollover if you have after-tax dollars? by Rob Cardinale

Rob Cardinale — Wed, 11 Nov 2009 12:59:11 +0000

Hi Sharon

That’s exactly the issue– if an employer uses the separate contract method permitted by Section 72(d)(2), it can treat distributions of after-tax contributions, and earnings on those contributions, as coming out of an entirely separate bucket, unaffected by the pro-rata rule.

Comment on Employer plan to Roth rollovers… Can you make a tax free rollover if you have after-tax dollars? by Sharon

Sharon — Tue, 10 Nov 2009 19:09:47 +0000

Not exactly, The employer cannot distribute just the after-tax amount. The distribution must include a prorated amount of pre-tax and after-tax

Comment on End of Road for “Clunkers” by Anonymous

Anonymous — Mon, 24 Aug 2009 19:26:34 +0000

when is cash for appliances going to start? thanks.

Comment on Mortgage Insurance with a Twist by Mortgage

Mortgage — Wed, 13 May 2009 22:35:36 +0000

Yeah, I think as the largest banking system IMF can do something for this.

Comment on What a difference a day makes… by Online Bank CD Rates

Online Bank CD Rates — Thu, 02 Apr 2009 04:29:39 +0000

I would lean towards fear. Frankly, they did it to themselves, though. They allowed Greed to overshadow reason.

Sadly, I think every plan Geitner has put forward so far has been a failure, and I don’t think this one is much diffferent.

The economy would recover on its own and be stronger for it, if the Gov’t would just get out of the way.

Comment on Tax reform, take two by Taxpayer_Owner

Taxpayer_Owner — Sun, 22 Mar 2009 01:16:33 +0000

Sure Ms. Olson has talked about the IRS’s shortcomings, ruffled a few feathers, and wrote some tough reports. Unfortunately, Ms. Olson has not been able to get very much accomplished in her seven years on the job other then create a high employee turnover rate. She tried to simplify the tax code by creating a standard definition of a child. When all was said and done, she only made matters worse. So much worse, the law had to be amended.

Ms. Olson also destroyed the very program in the IRS that was set up to assist taxpayers. Before Ms. Olson, if you needed help with a tax problem that was not dealt with satisfactorily through normal channels the IRS would transfer your case over to a group that had the experience in your particular issue and the authority to fix your problem on the spot. Ms. Olson has forsaken this logic. Now if you need help and your case is transferred over to her program it will most likely be assigned to someone that is not experienced or even properly trained to assist you. Moreover, even if the employee understands your situation they will not be able to fix it. They will have to turn around and request the IRS to fix it. Not only is this a poor way to assist taxpayers it also costs taxpayers more money.

The Taxpayer Advocate’s office has an important role of advocating for all taxpayers. While Ms. Olson does an adequate job of this, she does not advocate very well for the individual taxpayer who comes into her office for assistance. For that reason, her employees that work with taxpayers should be reassigned back to the IRS where they will be better trained and better able to quickly assist taxpayers in their moment of need.