Serve As Executor of an Estate

You’ve Been Appointed as an Executor of an Estate? Do You Know What Your Duties Are?

Serving as an executor has responsibilityI can’t foresee anyone really wanting to be the executor of an estate of a deceased person. It usually is not the type of work that a dis-organized individual should undertake. It helps if you are a detailed and well organized individual.

The term “executor” and “personal representative” are often used inter-changeably. The bottom line is that this individual has a legal responsibility to protect all of the assets of the estate until the probate process (if required), is completed and all assets are distributed.

You have no obligation to serve as an executor. If you feel that you don’t have the time for it, or you simply have no desire to deal with certain beneficiaries, then you can decline. If the will provided for a backup executor, then that individual can serve. If not, a probate judge will appoint someone.

If you decide to serve, setting up a detailed View full post…

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More Credit Bureaus

It’s not just the 3 big credit bureaus that know everything about you

NATALIE CAMPISI

September 29, 2017

If it wasn’t before, Equifax now certainly is a household name.

Since the big Equifax data breach, many consumers have engaged — perhaps for the first time — with each of the three major U.S. credit bureaus, scrambling to secure their identities after hackers stole the personal information of 143 million Americans.

But these are not the only consumer reporting agencies that possess sensitive consumer information. And they’re not the only places you should look to lock down your personal information.

Much like Equifax, Experian and TransUnion, some of the smaller credit agencies will allow you to freeze your credit files, including ChexSystems, Innovis, Clarity Services and CoreLogic. None of these firms will charge you to place a security freeze on your file.

What’s on file

Just like the big View full post…

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IRS Tax Information for Veterans

The Internal Revenue Service is committed to providing assistance to all Veterans. We work with community and government partners to provide timely federal tax-related information to Veterans about tax credits and benefits, free tax preparation, financial education and asset-building opportunities available to Veterans.

Our Approach
The Stakeholder Partnerships, Education and Communication (SPEC) office within the Wage & Investment Division has built a network of national and local partners. Organizations include corporate, faith-based, nonprofit, educational, financial and government. With so many tax benefits available today, taxes can serve as the starting point for a dream leading to stronger View full post…

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Don’t Take the Bait – Watch Out for the W-2 E-mail Scam

Beware of the W-2 scamThe IRS, state tax agencies and the tax industry today urged tax professionals and businesses to beware of a recent increase in email scams targeting employee Forms W-2.

The W-2 scam – called a business email compromise or BEC – is one of the most dangerous phishing email schemes trending nationwide from a tax administration perspective. The IRS saw a sharp increase in the number of incidents and victims during the 2017 filing season.

Increasing awareness about business email compromises is part of the “Don’t Take the Bait” campaign, a 10-part series aimed at tax professionals. The IRS, state tax agencies and the tax industry, working View full post…

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Taxpayers Should Review Their Withholding Mid-Year

Avoid Having Too Much or Too Little Federal Income Tax Withheld.

The Internal Revenue Service today encouraged taxpayers to consider checking their tax withholding, keeping in mind several factors that could affect potential refunds or taxes they may owe in 2018.

Reviewing the amount of taxes withheld can help taxpayers avoid having too much or too little federal income tax taken from their paychecks. Having the correct amount taken out helps to move taxpayers closer to a zero balance at the end of the year when they file their tax return, which means no taxes owed or refund due.

During the year, changes sometimes View full post…

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