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Good News for 529 Plan Savers: More Investment Flexibility

Call it a holiday gift. Thanks to legislation passed in December, beginning in 2015, owners of 529 accounts will be able to change the investment options on their existing plan contributions twice per calendar year instead of just once. This increased flexibility is a welcome option for parents and grandparents who use 529 plans to save for their children's or grandchildren's college education.

Previously, if an account owner had exhausted his or her once-per-year investment change allowance, the only way to change investment options again on existing contributions in the same year was to change the beneficiary of the account, which may not have been desirable or feasible.

New Rates Released for Veterans Pension

The U.S. Department of Veterans Affairs (VA) provides a tax-free, supplemental pension to qualifying wartime veterans and their families. To be eligible, veterans must have limited income and assets, and they generally must have a period of service that includes at least one day on active duty during wartime and 90 days total active duty time. Veterans who entered active duty after September 7, 1980 generally must have served at least 24 months or the full period for which they were called or ordered to active duty. Also, veterans must have been discharged under conditions other than dishonorable.

In addition to these basic service requirements, to be eligible, a veteran must be:

  • Age 65 or older, or
  • Totally and permanently disabled, or
  • A patient in a nursing home receiving skilled nursing care, or
  • Receiving Social Security Disability Insurance, or
  • Receiving Supplemental Security Income

Monthly benefit

The Health Care Law - Getting Ready to File Your Tax Return

 

It’s always a good idea to prepare early to file your federal income tax return. Certain provisions of the Affordable Care Act – also known as the Health Care Law – will probably affect your federal income tax return when you file this year.

What is a RCMP Record?

What is a RCMP Record?

 

If you are a Canadian citizen applying for a nonimmigrant waiver for entry into the United States, one of the documents required for submission is a RCMP record. RCMP stands for the Royal Canadian Mounted Police (RCMP), which is the national police force in Canada. A RCMP record is a certified criminal record listing any criminal convictions that may appear on your record. 

Do Your Taxes for Free; Use IRS Free File

 

Make taxes less taxing this year by using free software offered exclusively through the IRS. Join the 43 million Americans who already have saved by using IRS Free File. You can use name-brand software or fillable forms to prepare and e-file your federal tax return - all for free. Combined with direct deposit, electronic filling is the quickest way to get your refund.

Here are some tips about IRS Free File:

1. Go to IRS.gov/FreeFile.  The only way to use IRS Free File is through the IRS website. Once you choose a Free File company, you’ll go to their website to prepare and e-file your federal tax return.