Susan Tompor Detroit Free Press Published 7:00 AM EDT Aug 21, 2019 Watching a one-day, 800-point bloodbath on Wall Street gives even the most sophisticated investor reason to come unhinged for a little while. Is a recession around the corner? Or a year or more away? Just how far can the stock market — which has been roaring along for much of the summer — tumble? The Dow Jones industrial average closed at a record high of 27,359.16 points on July 15 — a 17.3% year-to-date gain. By Aug. 14, the day of the 800-point drop, the Dow had fallen to 25,479.42 points, representing a 6.8% decline in a month. Who's got the stomach for that? More: Downriver steel plant warns it will lay off nearly 200 workers More: Stock market gets ugly: Here's what you should do It's time to regain your financial footing, step back and decide what moves make sense if you're worried about the next recession. Here are questions to … [Read more...] about How to find stability when Wall Street has you on edge
How to find last years tax return
WASHINGTON — President Donald Trump exhibited "aggressive tax planning" prior to his 2016 election and "could have eliminated his taxes for a couple of decades" by claiming millions in business-related losses, tax expert Steven Rosenthal told a congressional panel Thursday. "There is a lot to find," said Rosenthal, a senior fellow at the nonpartisan Tax Policy Center who has scrutinized portions of Trump's 1995 and 2005 returns last year in partnership with the New York Times. Rosenthal was among several nonpartisan tax experts who testified at the first Democratic-run House Ways and Means Committee hearing on Trump's taxes. The hearing was intended to begin "building the public case for why the American people deserve to know something — anything — about Trump's finances," said a Democrat leadership aide who was not authorized to speak publicly. The experts affirmed the tax-writing committee's authority to obtain Trump's returns from the U.S. Treasury — kicking … [Read more...] about Tax expert tells Congress there is ‘a lot to find’ in Trump’s tax returns
FRENCH officials revealed they intercepted 583 illegal immigrants last year who were trying to cross the Channel in boats. The figure is up from just 13 in 2017, as they sailed towards Britain in dinghies and stolen boats. The numbers have spiked in the last two months and The Sun can also reveal that a Border Force boat ordered back to the Channel to help deal with the crisis is still weeks away. HMC Protector is one of two vessels Home Secretary Sajid Javid back to the Channel last month. But the ship is still in the Med and was yesterday sailing between Sardinia and Gibraltar where it is expected to refuel and take on supplies. It is unlikely to reach Britain until mid-February – more than six weeks after Mr Javid ordered the Protector back. Meanwhile vice admiral Philippe Dutrieux, of the French Coastguard, said: ''There has been a marked acceleration in numbers attempting to cross the Channel in boats. ''November and December were particularly high and we saw 75% of rescues … [Read more...] about Number of immigrants attempting to cross the Channel in small boats jumps from 13 in 2017 to 583 last year
Carl Lamb, managing director of Almary Green Archant Our reader this week has lost her husband, who was not able to complete his latest tax return before he died. His wife wants to know whether she needs to do so on his behalf. Carl Lamb of Almary Green provides the answers. Question: My husband died last November at the age of 62 after a short illness. He had a well-paid job and had a number of other income sources so was a higher rate taxpayer. He hadn’t done his tax return before he fell ill – he always did it himself as he was an accountant. He’s made me his executor so do I need to complete a tax return on his behalf by the end of January?Almary Green response: I am sorry to hear of your bereavement. Yes, it is likely that you will need to submit a tax return for your late husband. Your first step, however, should be to contact HMRC: they have a dedicated helpline for those who find themselves in your position and want to know how to proceed. The number is … [Read more...] about Ask the Expert: My husband has died, do I need to complete a tax return on his behalf?
Susan Tompor Detroit Free Press Published 5:11 PM EST Dec 12, 2018 A coordinated crackdown on tax-related, ID theft has drastically reduced the numbers of new refund fraud victims. But new schemes keep popping up all across the country. "ID thieves are growing in sophistication," warned IRS Commissioner Charles Rettig on call with the news media on Wednesday. The IRS touted a 19-percent decline in the number of reported identity theft victims for this year through October, compared with the same period in 2017. The decline is even more dramatic — down more than 70 percent — compared with 2015. The IRS reported that about 177,000 taxpayers were victims of tax-related ID theft so far this year through October 2018. That compares with about 242,000 victims in 2017 and about 699,000 victims in 2015. Many times, people discover they're a victim when they have trouble with e-filing their own tax returns. Headaches only build, as you try to … [Read more...] about Tax refund thieves find new scams: How to protect yourself