The account holder received a Receivers Certificate in exchange for the Allocation payment. This certificate has a face value equal to the amount paid. As a result, a taxable event has not occurred, until such time as the Receiver Certificate is sold or otherwise determined to be canceled by the Receiver. This process is expected to take time. If the transaction occurred within an IRA, it is unlikely that a taxable event has occurred. Please consult your tax advisor.

The Receiver has filed civil litigation against parties we believe to be responsible for the Trust fund shortfall. [Click here to read the Receiver's civil litigation]. The litigation process is ongoing and the web-site will be updated as appropriate. Additionally, various state and federal agencies are conducting criminal investigations into the Trust fund shortfall. The Receiver is cooperating fully with these agencies. See similar questions...

Income Tax: When the individual trust account's earnings are disbursed on behalf of the beneficiary (and not retained in the account), the beneficiary must claim the amount of those disbursements as taxable income. If the beneficiary owes income tax, he or she will be required to prepare and file an income tax return, as well as pay any income tax due. See similar questions...

Income Tax: Because the beneficiary is the donor of a self-settled trust, the beneficiary will be required to pay federal income tax on earnings generated by the individual trust account. Gift Tax: Because the beneficiary is the donor of a self-settled trust, the beneficiary will not be subject to gift tax on contributions to the beneficiary's individual trust account. See similar questions...

Tax-free funds are mutual funds whose income dividends are earned from bonds issued by a municipality and are generally exempt from federal income tax. To determine the amount of income exempt from state income tax, examine this table to find the Fund you held during the 2006 tax year and its percentage value for your state of residence. Refer to your 2006 Form 1099-INT, box 8, for your tax-exempt dividends. Multiply this amount by your Fund's percentage value. See similar questions...

No, plans are tax neutral in that all income and estate taxes are recognized by the beneficiaries of the plan. We have incorporated tens of thousands of companies and currently have more than 35,000 clients worldwide. We were incorporated in 1998. We are also members of the Better Business Bureau. Please go to www.vegasbbb.org to look up our rating there. See similar questions...

Purchase a specialty Organ Donor license plate. In order to purchase an Organ Donor License plate, a $25 donation is required for a one-year plate, and $50 donation for a two-year plate. Learn more about the plate at www.dhss.mo.gov/organdonor/GenericPlateLetterDHSS.pdf. See similar questions...

You can open a Child Trust Fund for each of your children born on or after 1 September 2002, as long as you have been awarded Child Benefit for them. See similar questions...

The amount you pay in taxes will be reduced when you open an IRA account depending on the amount of the contribution and your tax rate. The following table presents several examples: See similar questions...

All contributions or deposits to the IRA must be sent directly to Millennium Trust, and upon your direction, will be forwarded to the broker or FCM of record for the futures investment. Funds should not be sent directly to the broker or FCM to be credited to the investment account. See similar questions...

myPay does not allow you to change the investment of your contributions. To change the investment of your contributions, you may visit the TSP web site at http://www.tsp.gov or submit form TSP-50 available from your servicing personnel or payroll office. See similar questions...

Yes. You can open these accounts directly with the fund by downloading an application from the website, calling our toll-free number, 1-800-930-3828 or through any one of the participating brokers. See similar questions...

Regardless of income, any individual with compensation from employment or earned income from self-employment and under age 70? (or the spouse of a working individual) is eligible to contribute to a Traditional IRA. Contributions for an unmarried person are tax deductible if the individual is not an active participant in an employer-sponsored retirement plan. Those who are active plan participants must meet specified income limits to qualify for tax-deductible contributions. See similar questions...

Contributions to an IRA account for tax year 2005 must be made not later than April 18, 2006, or the date in which the taxpayer files his income tax return for that particular year (including any extension applicable to file). See similar questions...

Funding a trust entails transferring assets you own as an individual into the name of your trust. For some assets, our law firm makes the transfers and prepares the documents for you to sign, for example, real estate. For other assets that our law firm is unable to change for you, we will give you instructions as to how title is changed, and will provide you with the necessary paperwork. See similar questions...

IRA is an Individual Retirement Account. Many banks can open this type of account for you. Money that is set aside in your IRA is tax-sheltered until you withdraw it after age 59?. If you do withdraw the money before you turn age 59? an additional 10% penalty tax may apply. When you opt for a lump sum payment of your pension you can have the lump sum directly rolled over into your IRA in order to temporarily postpone paying taxes. See similar questions...