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Bohemia, NY (PRWEB) December 14, 2011
Theres a realistic way to fix our ailing Social Security system that not only rules out new taxes or benefit cuts for retirees but actually provides for benefit increases, says Dan Weber, founder and president of the Association of Mature American Citizens [AMAC].
Weber outlined a viable, bi-partisan approach to Social Security reform in a recent article in Roll Call that calls for the creation of a supplemental payroll deduction [that] would be not only voluntary but tax-deductible and administered as individual retirement accounts and 401(k)s are now.
Coupled with a provision that ups the eligibility age for benefits, this kind of real reform would quickly ensure the solvency of Social Security for generations to come, he says, noting that there is already bi-partisan support for pushing back the retirement age.
The president has already said that a change in age for receiving benefits is a desirable first step and the House and Senate seem to be on board. Thus, there is encouraging common ground on this issue and a bipartisan agreement in this case might just lead to further agreement on the more complex economic issues.
Under such a plan a 25-year-old individual who contributes only $ 15 a week to an IRA, would get $ 165,407 in additional income by retirement. Increase the amount to $ 45 a week and the windfall would be $ 352,389 upon retirement, according to Weber.
Social Security is no longer the third rail of politics. In fact, more and more senior citizens are demanding radically positive reform. A statistically relevant AMAC poll of 1,253 senior citizens found that nearly 90% of them favored an increase in the eligibility age. Eighty percent of them believe that those paying into the system should have access to a tax deductible Social Security retirement account.
In his article, Weber notes that the Treasury Department currently borrows some $ 46 billion a year from the Social Security fund, replacing the money with IOUs that have no real value. By 2036, he says, a staggering $ 21 trillion will have been drained from the fund, resulting in a collapse.
Have you ever wondered how to tell the different between Social Security Retirement, SSI, and Disability. Let Jessica Bankston, GeorgiaCares Program Coordina…
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Belleville, IL (PRWEB) December 27, 2011
Nearly 13,000 American women were diagnosed with cervical cancer in 2011, and more than 4,000 died from an advanced form of the disease, according to the National Cancer Institute (NCI). Allsup, a nationwide provider of Social Security Disability Insurance (SSDI) representation, works with hundreds of cancer patients each year, and is raising awareness of the need for screening and preventive care during Cervical Health Awareness Month in January.
Regular Pap tests, which detect significant abnormal cell changes that may arise before cancer develops, reduce deaths from cervical cancer. Women who have never been screened or who have not been screened in the past five years face a greater risk of developing invasive cervical cancer. Most medical experts agree women age 21 (or younger, if they are sexually active) to about 70 should be screened every two to three years. Women should seek expert medical advice about when they should begin screening, how often they should be screened, and when they can discontinue cervical screenings, especially if they are at higher than average risk due to factors such as HIV infection.
Despite the effectiveness of Pap tests in preventing deaths, the most recent NCI statistics (2005) indicate that more than 20 percent of women aged 18 and older had not had a Pap test within the past three years.
According to the National Cervical Cancer Coalition, while routine administration of Pap tests is the best method to detect cervical cancer at an early stage, vaccines have the potential to protect women from the disease by targeting cancer-causing types of human papillomavirus (HPV). HPV, a virus transmitted through sexual contact, is the single known cause of cervical cancer.
Cervical Cancer and Social Security Disability Insurance
Some women may be unable to work due to progression of their cervical cancer or because of continuous cancer treatment. If their time away from work is expected to last 12 months or more, they may be eligible for SSDI. SSDI is funded by FICA taxes and provides benefits to Americans unable to work due to a severe, long-term disability. These benefits include:
http://www.wisecounsel-inc.com/new/wc/ Teacher Retirement & Social Security Payments – Wise Counsel.
Belleville, Ill. (Vocus) March 21, 2008
The Social Security Administration announced that on March 23 it will discontinue an initiative that was created to address the backlog situation with applications for Social Security Disability Insurance. Allsup (http://www.allsup.com ), a national Social Security Disability Insurance representation company, is altering its procedures to help disability claimants whose cases are affected by the federal policy change.
The Disability Service Improvement (DSI) plan was initiated in August 2006 for new claims filed in Region 1, which includes Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
Elements of the initiative included establishing the Office of the Federal Reviewing Official for FedRO review, creating the Medical and Vocational Expert System (MVES) to develop medical evidence, and launching the Quick Disability Determination (QDD) process. However, the FedRO and MVES processes will be suspended for new claims effective March 23.
This change in policy affects people we support through the disability process , said Ron Buerges, Allsup executive vice president and chief operating officer. We will be following every person whose case is filed in the Boston region and determining where that case will end up, whether it is newly filed or somewhere in transition between SSA offices.
Some cases are likely to move to the FedRO for review before the March 23 deadline, while others might be shifted to the Disability Determination Services office in a particular state for reconsideration as the deadline nears.
The change affects New Hampshire cases in particular. After March 23, the state will revert to its status as a skip state. New Hampshire claimants who are denied with their initial application will skip the second level of appeals and proceed to the third level, where the cases are heard by administrative law judges.
Allsup has more than 200 cases pending at the FedRO. We will track and monitor cases that are in transition, said Mr. Buerges. We will continue to do what we do best work hard to ensure our customers receive their entitled benefits.
DSI was enacted as an effort to speed the process for SSDI applications. The SSA has been dealing with a growing backlog of applications for SSDI at all levels in recent years. There are more than 1.4 million people waiting for a decision at all levels of the process, and 2.5 million people apply for disability benefits each year.
QDD was created to accelerate certain cases that have a high potential for award when the claimant is clearly disabled and evidence can be quickly and easily obtained. As announced last year, the QDD program is being expanded nationwide on a separate basis.
Allsup has helped more than 100,000 Americans with disabilities obtain $ 1.5 billion in Social Security and Medicare payments. Today, the company has 500 employees working to pre-qualify individuals to ensure eligibility, develop an accurate factual record and represent applicants through the disability decision process. This allows the Social Security Administration to focus on issuing disability decisions and clearing backlogged claims.
For more information, go to http://www.allsup.com.
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Phoenix, AZ (PRWEB) February 15, 2012
Technology developed by Randall C. Sorensen, CPA, identifies tax filers that claim phantom income and expenses to obtain cash refunds from the US Treasury. The Internal Revenue Service estimates that 23 to 28 percent of Earned Income Credit payments are issued improperly each year, which equates to between $ 11 billion and $ 13 billion.
Here is how tax frauds utilize phantom income: Jane Doe claims income of $ 13,720 from an imaginary cleaning business. Since she doesnt really have a business, Jane doesnt need to purchase any brooms, dust pans, cleaning supplies or mops. For Janes efforts she will qualify for federal tax credits of $ 6,600. Before the US Treasury deposits a tax refund of $ 4,900 into her bank account, they make a deposit into Jane Does social security retirement account for $ 1,700. From start to finish, Jane can complete her phantom tax return using phantom income in 15 minutes!
In contrast, tax filers that utilize phantom expenses want to drive their income down. A Phoenix couple learned that because the husbands earnings increased to $ 55,000 they wouldnt qualify for an earned income credit in 2011. That was before the wife got creative. She is self-employed and brings home gross income of $ 4,000/yr. However, by subtracting phantom business expenses of $ 25,000 she drives the couples earned income down to $ 34,000. In minutes, the couple goes from owing $ 100 in federal income taxes to qualifying for a cash refund of $ 5,300.
Randall Sorensen, CPA has practiced as a financial forensic expert for over 25 years. Recently Mr. Sorensen developed EICCA (Earned Income Credit Compliance Audit) that will identify EIC tax frauds in real-time.
EICCA works quickly and efficiently. A beta test using simulated EIC data for 30 million tax filers was conducted in December. It is estimated that EICCA could identify as much as $ 2.6 billion in phantom income and another $ 7.8 billion of phantom expenses. Unscrupulous individuals are going to be paid $ 3.7 billion in fraudulent refunds between February 16th, 2012 and April 16th, 2012. During the course of 20 years, one dishonest taxpayer can defraud the US Treasury of $ 300,000 and never have to work one day. Last week, IRS Commissioner Douglas Shulman was informed that in addition to identifying tax fraud in real time, EICCA is a permanent solution to prevent this fraud in the future. Sorensen states, The IRS has seen their fiscal budget gutted recently. The technology will not require Congressional funding. The EICCA program can test 30 million EIC filers and 25 million self-employed businesses in 30 minutes. This would save the US Treasury as much as $ 100 billion over the next ten years.
Randall Sorensen, CPA has been practicing accounting for over 30 years and has specifically worked as a forensic accountant for over 25 years. Randall Sorensens accounting practice is located in Phoenix, Arizona. Mr. Sorensen can be reached at 1-480-752-0000.
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