BROADCASTS.com

On this episode of the Planned Solutions Financial Review Podcast we discuss, Budget cuts at the Internal Revenue Services (IRS) having a negative impact on many of the agency’s core functions. Among these is a sharp decline in the percentage of individual tax returns that are audited each year which may result in reduced tax collection for the nation. However, other areas, such as customer service and agents dedicated to resolving IRS notices and correspondence, have also been negatively impacted. And, There is often some confusion about how Required Minimum Distributions (RMDs) from tax-deferred retirement accounts are calculated and when they must be taken. One area of confusion in particular is the date on which the first RMD must be taken: The Required Beginning Date (RBD). In this episode we explain how the RBD is calculated. Also,Telephone scammers have once again switched tactics. Now, instead of impersonating the IRS, many callers are impersonating the Social Security Administ-ration. These callers claim that the recipient’s Social Security Number has been suspended and they need to pay a fee to correct the error. They promise the fee will be refunded after the mix-up is corrected but instead pocket the money. It is important for individuals to be aware of this scam and hang up on anyone who called claiming to be a representative of the Social Security Administration. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Joel’s Book Report: The Checklist Manifesto by Atul Gawande This book was recommended from a financial blogger who keeps a running list of recommended books to read. The author is a doctor who worked with a surgical team to develop a checklist for the World Health Organization. Their goal was to drastically reduce complication rates by using checklists – the catch being it needed to be detailed enough to be used worldwide (language and economic barriers) while being simple enough to be effective. To subscribe or unsubscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #financial #invest #finance #investment