myRA

myRA

President Barack Obama signed a presidential memorandum in January 2014 directing US Dept of Treasury to create "myRA".  myRA is to be a "a new simple, safe and affordable “starter” retirement savings account that will be initially offered through employers and will ultimately help low and moderate income Americans save for retirement".

• Beginning in late 2014, with this retirement savings account  individuals will be able to open accounts and begin contributing to them every payday. 
• myRAs will be initially offered through employers, balances will never go down, and there will be no fees. 
• myRAs will hold a new retirement savings bond that will be backed by the US Treasury.

The key features of myRA include:

• No cost to open an account.
• Contribute to savings through regular payroll direct deposit.
• Individual decides how much to contribute every payday ($50, $25, $5 – any amount!)
• No fees.
• myRAs will earn interest at the same variable rate as the Government Securities Investment Fund in the Thrift Savings Plan for federal employees.
• myRAs will not be limited to one employer  – the account will be portable.
• myRA contributions can be withdrawn tax free.
• Earnings can be withdrawn tax free after five years and the saver is 59½.
• Account holders can build savings for 30 years or until their myRA reaches $15,000 – whichever comes first. 
• After that, myRA balances will transfer to private-sector Roth IRAs.

References:

myra.treasury.gov/

Miracle Green Drink

Miracle Green Drink
This drink’s preparation is easy and quick. Nutritionists recommend that this drink is the first thing we enter in the morning, before breakfast and/or coffee.

Ingredients needed:
1 radish
2 stalks of celery
2 beetroots
3 leaves of kale
3 carrots
Handful of spinach
Half a cabbage
Half a cup of parsley
Half a red onion
2 cloves of garlic
Method of preparation:

Put all of the ingredients into a blender and mix them. Mix until you get homogeneous thick pulp. Add some water into the pulp and drink half a glass right after you wake up on an empty stomach.

See more at Healthy Food Star  

IRS Announces 2015 Pension Plan Limitations

IRS Announces 2015 Pension Plan Limitations
The Internal Revenue Service recently announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase in the index did not meet the statutory thresholds that trigger their adjustment. Highlights include the following:

• The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased from $17,500 to $18,000.
• The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased from $5,500 to $6,000.
• The limit on annual contributions to an Individual Retirement Arrangement (IRA) remains unchanged at $5,500. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.
• The deduction for taxpayers making contributions to a traditional IRA is phased out for singles and heads of household who are covered by a workplace retirement plan and have modified adjusted gross incomes (AGI) between $61,000 and $71,000, up from $60,000 and $70,000 in 2014. For married couples filing jointly, in which the spouse who makes the IRA contribution is covered by a workplace retirement plan, the income phase-out range is $98,000 to $118,000, up from $96,000 to $116,000. For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple's income is between $183,000 and $193,000, up from $181,000 and $191,000. For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.
• The AGI phase-out range for taxpayers making contributions to a Roth IRA is $183,000 to $193,000 for married couples filing jointly, up from $181,000 to $191,000 in 2014. For singles and heads of household, the income phase-out range is $116,000 to $131,000, up from $114,000 to $129,000. For a married individual filing a separate return, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.
• The AGI limit for the saver's credit (also known as the retirement savings contribution credit) for low- and moderate-income workers is $61,000 for married couples filing jointly, up from $60,000 in 2014; $45,750 for heads of household, up from $45,000; and $30,500 for married individuals filing separately and for singles, up from $30,000. 
• Breaking News: 2015 Pension Contribution Limits As the end of the year rolls around, if you have not already done so, now is the time to plan for contributions into your retirement accounts in 2015. While Traditional IRA and Roth IRA plan limits are unchanged versus 2014, please note the contribution increases in 401(k), 403(b), 457 and SIMPLE IRAs.

Retirement Program	Year 2015	Year 2014	Change	Catch-up Age 50+
IRA Traditional	5,500	5,500	None	Add 1,000
IRA Roth	5,500	5,500	None	Add 1,000
IRA Simple	12,500	12,000	+500	Add 3,000 (Up 500)
401K, 403B, 457 Plans	18,000	17,500	+500	Add 6,000 (Up 500)

• 2014 Planning Note: Remember you have until April 15th, 2015 to make contributions to your Roth or Traditional IRA for the 2014 tax year.
• Don't forget to take advantage of any matching programs offered by your employer as you review your various funding levels.
• For more information click here.

Implementation of Affordable Care Act (ACA)

Implementation of Affordable Care Act (ACA)
Under the Affordable Care Act (ACA), both:

• health insurance providers and 
• "large employers" who have: 
• 50 or more full-time equivalent employees 
• FTE = 30 hours per week or 130 hours per month 

have new reporting requirements to ensure they are meeting health care coverage obligations. The information reporting obligations are meant to provide policy details for each person who is provided with coverage to the IRS. At the end of the year, taxpayers and their dependents must be able to prove that they were participating in a qualified health plan, thereby producing a need for third-party tax information reporting.

IRC §6056 requires employers to report to the IRS information about their compliance with the employer shared responsibility provisions, including the type of health care coverage they offer to their employees. In addition, employers are required to furnish related benefit statements to employees to assist them in determining whether they can claim a premium tax credit on their tax return.

IRS Form 1095-C (Employee statement) and a Form 1094-C (Transmittal) are the proposed designated forms to be used for §6056 reporting. Use the following links to view a draft of each of these forms:
Form 1095-C
Form 1094-C

New Form 1099 draft instructions include FATCA update

New Form 1099 draft instructions include FATCA update
The IRS recently released draft instructions for several 1099 forms, which include a change related to the Foreign Account Tax Compliance Act (FATCA). The update was made for Form 1099-MISC, Miscellaneous Income; Form 1099-DIV, Dividends and Distributions; Form 1099-OID, Original Issue Discount; and Form 1099-INT, Interest Income.

The change is the addition of a checkbox for foreign financial institutions (FFIs). It refers to the FFIs chapter 4 filing requirements.

"Beginning in 2014, an FFI with a chapter 4 requirement to report a US account maintained by the FFI that is held by a specified US person may satisfy this requirement by reporting on Form(s)1099 under the election described in Regulations section 1.1471-4(d)(5)(i)(A)," the instructions read.

The instructions went on to say US payors can fulfill their chapter 4 obligations using the check box.

Bibliography: convey.com, irs.gov

Tax Penalty Abatement Letter Request & Form 843

Tax Penalty Abatement Letter Request & Form 843
Below is a sample penalty abatement letter request to the IRS. It is intended to be used as a guide and is for information purposes only when trying to abate tax penalties.

Date:  September 20, 20xx

To:  IRS (Penalty Abatement)
(address given on notice of tax amount due)

From:  Jane Doe
123 Any Street
Any City, State 99999
SSN: (***-**-****)

Re: Request for Penalty Abatement

Dear Sir:

I am writing to request an abatement of penalty in the amount of $(amount) as assessed in the attached notice that is dated ____/____/____.

The reason why I _________(pick one)

• Paid late 
• Filed late 
• Failed to report income 

was because I ____________ (pick one) 

• Had a serious medical condition 
• House burned down 
• Documents were stolen 
• Death of a close family member 
• ...or any other reason that prevented you from complying with the IRS requirements 

Please find the enclosed (documents that support my claim) 

• Death notice of a family member 
• Letter from a doctor stating the conditions of your illness that prevented you from filing or paying 
• Picture of house burned down in fire 
• Insurance notice of theft of private property and documents 
• ...or any proof you can enclose (a copy of) to prove statement above 

Please consider my request for abatement of penalty based upon reasonable cause. If there are any questions or further information required, I can be reached at (telephone number) from 9am to 6pm. I have enclosed a payment in the amount of taxes owed, net of the penalty portion.

Sincerely,
/s/ Jane Doe

Editorial Note:

• If you have the funds to pay, you should pay the tax owed. 
• If you do not have the funds, you can apply for an Installment Agreement to pay back taxes owed over time or file an Offer-in-Compromise based upon reasonable collection potential (RCP).
• When enclosing your documents, be sure to keep copies for yourself.
• Review the penalty to determine:
• how and why it was assessed (late-file, late-pay and/or underreporting penalties), 
• what happened to create a situation for the taxpayer (TP) where a penalty was assessed (why the TP didn’t file or pay), and 
• whether the penalty abatement program would benefit the TP, and
• should TP apply for penalty abatement?
• For example, a TP who is Currently-Not-Collectible (CNC) would not benefit from penalty abatement; although, a first time abatement may be beneficial for someone who qualifies for CNC and has maxed out the 25% failure to pay penalty on their oldest tax year. 
• Abatements can be requested and authorized over the phone with ACS.
• More difficult to obtain are Reasonable Cause abatements. These abatements generally must be submitted on Form 843 and have well established reasonable cause criteria that must be met to qualify. File for these abatements at the end once a collection status has been resolved for the client.
• It will take a few months to get a response from the IRS, and whether the abatement is possible.  
• Reason for an abatement request cannot be illegal or a ‘protester’ argument. 
• When filing Form 843, know the IRS is the determining party. The TP will receive notice of acceptance or denial within three to six months. Any denial has appeal rights, so if the TP disagrees, the TP can respond to the IRS denial accordingly.
• IRM §20.1 contains the Penalty Abatement Handbook, which includes the reasonable cause standards.

Enc.

K-12 Diverse Abilities Curriculum

K-12 Diverse Abilities Curriculum

Learning Disabilities Checklists and Worksheets
http://www.ncld.org/learning-disabilities-resources/checklists-worksheets

Family Health Guide to Learning Disabilities
https://www.kanetix.ca/family-health-guide-to-learning-disabilities

Coping with Disabilities - National Caregivers Library
http://www.caregiverslibrary.org/caregivers-resources/grp-disabilities/coping-with-disabilities-article.aspx

Benefits for People with Disabilities
http://www.ssa.gov/disability/

Medicare and Social Security Disability: Benefits for Disabled Individuals
http://www.planprescriber.com/medicare-insurance-news/social-security-disability/

American Association on Health and Disability
http://www.aahd.us/

Local Doctor Finder: Search by Disability
http://www.zocdoc.com/procedures

I Can Do It, You Can Do It!: President's Council on Fitness, Sports & Nutrition
http://www.fitness.gov/participate-in-programs/i-can-do-it-you-can-do-it/

ADA Accommodation for Swimming Pools
http://blog.intheswim.com/swimming-pool-lifts-and-the-ada-pool-lift-law/

Siblings with Disabilities
http://www.parentcenterhub.org/repository/siblings/

Disability Home Accommodation Cost Guide
http://www.homeadvisor.com/cost/disability-accommodation/

Disability and Health
http://www.cdc.gov/ncbddd/disabilityandhealth/people.html

Fire Safety & Disabilities Guide
http://www.improvenet.com/a/fire-safety-and-disabilities-guide

Source: Rebecca Muller

r.muller@educatorlabs.org
EducatorLabs.org | Cultivating. Connecting. Curating.
EducatorLabs | 2054 Kildaire Farm Rd. #204 | Cary, NC | 27518

The Seven Spiritual Laws of Success – A Practical Guide to the Fulfillment of Your Dreams :: Author: Deepak Chopra

The Seven Spiritual Laws of Success – A Practical Guide to the Fulfillment of Your Dreams
Author: Deepak Chopra

Freely inspired in Hinduist and spiritualistic concepts, which preaches the idea that personal success is not the outcome of hard work, precise plans or a driving ambition, but rather of understanding our basic nature as human beings and how to follow the laws of nature. According to the book, when we comprehend and apply these laws in our lives, everything we want can be created, “because the same laws that nature uses to create a forest, a star, or a human body can also bring about the fulfillment of our deepest desires”.

1. The Law of Pure Potentiality: Take time to be silent, to just BE. Meditate for 30 minutes twice a day. Silently witness the intelligence within every living thing. Practice non-judgment.
2. The Law of Giving: Today, bring whoever you encounter a gift: a compliment or flower. Gratefully receive gifts. Keep wealth circulating by giving and receiving care, affection, appreciation and love.
3. The Law of Karma: Every action generates a force of energy that returns to us in like kind. Choosing actions that bring happiness and success to others ensures the flow of happiness and success to you.
4. The Law of Least Effort: Accept people, situations, and events as they occur. Take responsibility for your situation and for all events seen as problems. Relinquish the need to defend your point of view.
5. The Law of Intention and Desire: Inherent in every intention and desire is the mechanics for its fulfillment. Make a list of desires. Trust that when things don’t seem to go your way, there is a reason.
6. The Law of Detachment: Allow yourself and others the freedom to be who they are. Do not force solutions—allow solutions to spontaneously emerge. Uncertainty is essential, and your path to freedom.
7. The Law of Dharma: Seek your higher Self. Discover your unique talents. Ask yourself how you are best suited to serve humanity. Using your unique talents and serving others brings unlimited bliss and abundance

Federal Tax Collection Rules & Procedures :: Internet Resource Links

Federal Tax Collection Rules & Procedures :: Internet Resource Links:
Purpose of this public resource: This site provides an organized assembly of many rules and procedures that govern the collection of unpaid federal tax. Electronic links connect researchers to the full text of many statutes, regulations, Internal Revenue Manuals, US Attorney Manuals, IRS Forms, US Government internet resources, several published cases and other materials. Source: irscollectionlaw.com

Chief Counsel Notices
Chief Counsel Bulletins
CODES - transcript and processing, 2011
FOIA Request Forms, IRS
Innocent Spouse, IRS self-help tool and information
Installments, IRS self-help tool and information
Internal Revenue Code
Internal Revenue Manuals
IRS Forms
IRS Publications
IRS Reading Room (notices, CCA, training material, etc.)
Treas. Regulations
US Attorney Manuals, index
Criminal Tax Manual (DOJ)

Indian-Spiced Roasted Chickpeas

Indian-Spiced Roasted Chickpeas
Makes: 1 servings for 6 people

Ingredients:
2 cups chickpeas, (red kidney beans, white navy beans, black beans, red chili beans, cannellini white kidney beans) rinsed and drained
1 tablespoon lemon juice
1 tablespoon olive oil
1 1/2 teaspoons ground cumin
1/2 teaspoon ground curry
1/2 teaspoon salt
1/4 teaspoon ground cinnamon
Black pepper to taste
Cayenne to taste
Crushed Red Peppers to taste
Ground Fenugreek to taste

Wasabi to taste
Cilandro to taste

Directions
1. Preheat oven to 425 F

2. Combine all the ingredients in a bowl; toss well

3. Spread on a foil-lined baking sheet and roast, tossing halfway through, for 20 to 25 minutes, or until the chickpeas are dark brown in spots

4. Let cool 

5. (Can be kept in an airtight container in the fridge for up to 4 days)

Nutrition Facts
Servings Per Recipe: 1 servings for 6 people
Amount Per Serving: 183 cal, Fat total 5g, sat. fat 1g, carb 29g, fiber 6g, protein 6g

Source: Fitness Magazine