Filing Deadline Fast Approaching for Unclaimed Tax Refunds

Unclaimed tax refunds totaling approximately $1.3 billion are waiting to be claimed by over 1 million individuals who did not file federal income tax returns for 2005. The IRS estimates that unclaimed refunds are valued at over $581.00 per person. To collect that money, returns for 2005 must be filed by April 15, 2009. The tax law allows a 3-year window of opportunity to file a return to claim a refund. If no return is filed within 3 years, the unclaimed money becomes property of the U.S. Treasury. No penalty will be assessed for late filings that qualify for a refund. Refund checks will be held if the taxpayer has not filed returns for 2006 or 2007. Moreover, the amount of any credit will be reduced and applied to satisfy unpaid child support, unpaid student loans or other federal debt of the taxpayer. Individuals may also be eligible to claim the earned income tax credit.
Tax forms for prior years are available on the IRS Web site at IRS.gov, on the forms and publications page. Or, taxpayers can call 800-TAX-FORM (800-829-3676).


Mailing Services Prices Effective Monday, May 11, 2009

On May 11 the price for a 1-ounce First-Class Mail stamp will increase from 42¢ to 44¢. Prices for other mailing services, Standard Mail, Periodicals, Package Services (including Parcel Post), and Extra Services, will also increase.
Customers can use their Forever Stamps, regardless of when purchased, to mail 1-ounce letters after the price change, without the need for additional postage. Forever Stamps are widely available through Post Offices, commercial retail outlets such as grocery stores, and online.
Prices for mailing services will continue to adjust each May. Prices for most shipping services, including Express Mail and Priority Mail, were adjusted in January and will not change in May.
 

COBRA Subsidy Guidance Issued

  Much-anticipated guidance on the new COBRA subsidy under the American Recovery and Reinvestment Act of 2009 (P.L. 111-5) (2009 Recovery Act) was issued by the IRS late on March 31.  The guidance, in the form of questions and answers, describes involuntary termination, who is eligible for premium assistance, calculation of the premium reduction and related issues.
Involuntary Termination
  An employer's unilateral dismissal of an employee is an involuntary termination. Similarly, the term involuntary termination may include the employer's failure to renew a contract at the time the contract expires, if the employee was willing to execute a new contract. Being asked to resign or else be fired is also an involuntary termination for purposes of the COBRA subsidy.
  The IRS reiterated that the COBRA subsidy is available only to individuals who are involuntarily terminated from employment between September 1, 2008, and December 1, 2009. Involuntary termination and the loss of coverage must occur within that period of time.


Paula Deen’s Ultimate Coffee Cake

16 to 18 unbaked frozen dinner rolls
1 (3-ounce) package regular butterscotch pudding mix, not instant
1/2 cup brown sugar, packed
1/2 cup pecans, chopped
1 stick (1/2 cup) butter, melted
The night before place frozen rolls in well greased Bundt pan. Sprinkle dry pudding mix over rolls. Sprinkle brown sugar over pudding mix. Sprinkle chopped pecans over brown sugar. Pour melted butter over all. To prevent the dough from forming a hard crust while it’s rising overnight, cover with a damp towel or tightly wrap with plastic wrap. Let rise overnight at room temperature, about 8 to 10 hours.
Preheat oven to 350 degrees F. Bake in oven for 30 minutes. Remove from the oven and cool for 5 minutes. Turn pan over onto a serving platter to remove. Serve by pulling apart chunks with forks.