Blog

Bipartisan bill introduced in Senate to strengthen retirement savings. On Nov. 17, Senate Finance Committee Chair Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) introduced the “Retirement Enhancement and Savings Act of 2016.” It would repeal the maximum age for traditional IRA contributions, authorize multiple employer-defined contribution plans and remove the 10% automatic enrollment safe harbor cap. It also would increase the credit limitation for small employer pension plan...

Read more
November 21, 2016

“Mailbox rule” reigns supreme. A federal district court dismissed a suit by married taxpayers who claimed they’d filed a timely, amended income tax return entitling them to a refund. The IRS said it didn’t receive it. The couple produced copies of Form 843, “Claim for Refund and Request for Abatement,” and their lawyer’s cover letter. But the court held that, because the taxpayers didn’t send the return via registered or...

Read more
November 21, 2016

Typically, much of the estate planning process focuses on money. But the most successful estate plans are founded on relationships. Building and preserving family wealth isn’t an end in itself. Rather, it’s a tool for promoting shared family values or encouraging family members to lead responsible, productive, healthy lives. Drafting a family mission statement can be an effective way to define and communicate these values. Communicate clearly Because each family...

Read more
November 21, 2016