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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jan 28, 2007
Page
9
IRS guidelines help you choose a qualified preparer. Beware contingent fees tied to refunds and firms outsourcing to unknown workers. Verify credentials, contactability, privacy safeguards, and demand a signed return with the preparer’s identifying number and a copy for review.
The Baltimore Sun reports brokerages are pushing back mailing 1099 forms as tax law changes and AMT rules complicate reporting. Firms like Morgan Stanley plan later 1099 mailings, with extensions possible though not expected to last long. Wachovia cites increased complexity since 2003 tax law changes, boosting corrected 1099s nationwide.
Jeff Brown argues that moving debt among cards signals risk to lenders, can lower credit scores, and jeopardize mortgages or auto loans. A temporary fix may work if a six month zero interest transfer is chosen, fees checked, and debt reduced promptly. Avoid new charges and keep few old ecards for a stable report.
Devine notes e filing prevents costly errors with processing within 10 business days while paper returns may take two months. Colahan from SS C Lawrence office says electronic filing is more accurate, convenient, and cost effective and provides verifiable proof of submission and receipt for loans or other needs.
Business editor Mark Fagan can be reached at 832-7188 for assignment questions or newsroom coordination.
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