MET Launches New Micro-Website

User-Friendly Site Also Offers Chance To Win A Free Semester Of College

The Michigan Education Trust (MET), Michigan's guaranteed tuition savings program that locks in tomorrow's tuition at today's rates has launched a new micro-site at www.setwithmet.com. The new, user-friendly, interactive site allows parents, grandparents, businesses and others easy access to information as well as on-line enrollment in the MET program.

EBSA Provides New Retirement Planning Booklet

The Employee Benefits Security Administration (EBSA) has published a new booklet to help Americans calculate the financial resources they will need to ensure a secure retirement. The publication, "Taking the Mystery Out of Retirement Planning," is designed to assist individuals who are within 10 years of retirement calculate their income, savings and likely expenses in retirement. Using these figures, Americans will have a better idea of how much they need to save to ensure that they do not outspend their retirement assets.

Although targeted to individuals approaching retirement, the booklet is also useful for recent retirees.

Free copies of the booklet are available by calling EBSA's toll-free number at 1.866.444.EBSA (3272).

AARP Starts Selling Mutual Funds

The three funds - conservative,moderate, and aggressive - are designed to simplify investment choices for seniors, AARP Financial said in a news release Monday.

Time Is Running Out For Medicare Part D Enrollment

The clock is ticking for millions of eligible seniors who have not yet signed up for the Medicare Part D Prescription Drug Plan. The introductory six-month enrollment period comes to an end on May 15, 2006, which is the last day you can enroll in a Medicare Part D prescription drug plan without the possibility of paying a late enrollment fee, reports the Michigan Association of CPAs....-MORE

http://www.medicare.gov

Where, Oh Where, Will My Tax Money Go?

FEDERAL BUDGET CALCULATOR
So, the deadline has come and passed. You have paid your taxes. The money has disappeared. But where will it go? What is the government planning to spend your money on? Let's find out...

Joe Milner

More Baby Boomers Worried About Gas Prices and Uninsured Medical Costs Than Retirement, AICPA/Harris Poll

More baby boomers are concerned about gas prices and uninsured medical costs than about retirement and other long-term expenses, according to a poll by Harris Interactive, Inc., for the American Association of Certified Public Accountants (AICPA).

The Deadline's Passed. Now What?
Filing late? Can't pay? Check here for all the information you need, including Where's My Refund

Internal Revenue Service

The Web's Amber Alert System
http://codeamber.org
Missing & Exploited Children
http://www.missingkids.com
Nat'l Center For MissingAdults
http://www.theyaremissed.org/ncma
U.S. Dept. of Homeland Security - Threat Advisory & Information
http://www.ready.gov/

Have You Overpaid Your Taxes? Tweak Your W-4

According to Internal Revenue Service statistics, the agency issued refunds to more than 100 million taxpayers who overpaid their 2004 taxes. If you received or expect to receive a refund, the Michigan Association of CPAs recommends that you adjust the amount of taxes your employer withholds from your paycheck....-MORE-

How Much Money Is The Hybrid Tax Credit Worth?

The IRS has a complex set of criteria that go into calculating the exact amount allowed for each hybrid make and model for the hybrid car tax credit. Trying to figure it out can be confusing.
About.com

If you've felt under pressure to buy a hybrid car as soon as possible to take advantage of the new tax credit, you can relax for a little while longer. The new tax credit (which offers up to $3,400 for taxpayers who buy an eligible car) is scheduled to be phased out once a manufacturer sells more than 60,000 hybrids.

However, even the most popular manufacturer isn't expected to hit that mark for at least a few months. Through March 31, Toyota sold 35,754 hybrid vehicles while the next closest Honda sold a total of 9,102 hybrids in the first quarter of this year

IRS Publication 4303: A Donor's Guide to Donated Vehicles

Internal Revenue Service

Proposed IRS Regulations Concerning Sharing of Taxpayers’ Information

The approximately 330,000 Certified Public Accountants who are members of the American Institute of CPAs are dedicated to the fundamental right of taxpayers to have their taxpayer information private and completely agree with consumer groups' interest in protecting taxpayer's privacy.

American Insitute of CPAs

Generation X Lacks Confidence in Social Security and Pensions;

Tough Retirement Years Ahead for Americans Unless They Take Control Now; AICPA/Harris Poll

American Institute of CPAs

IRA DEADLINE LOOMS

April 17 is the due date for 1040s this year. It's also the due date for funding your 2005 IRA. Whether you have a traditional IRA, a Roth IRA, or an "Education IRA" (Coverdell account), if you don't fund it by next Monday, you never can, and an important tax opportunity is lost forever.

Roth & Company CPAs

FAQs About Tax Audits

If there is anything that can strike terror in the hearts of most taxpayers, it’s a tax audit. While it is important to take a tax audit notice seriously, you shouldn’t panic. The Michigan Association of CPAs answers some questions people frequently ask regarding tax audits....-MORE-

Michigan Income Tax Deadline Approaches

The Michigan Department of Treasury wants to remind Michigan Taxpayers that all individual income tax returns for 2005 need to be postmarked or e-filed by Monday, April 17, 2006 in order to avoid penalties and interest.

Extension requests must be received by April 17, 2005, and must include an estimated payment of the anticipated taxes due. Form 4 can be downloaded from Treasury's web site at www.michigan.gov/treasury (search for forms - right hand column) and is available by calling 800-827-4000 to have forms mailed to you. Taxpayers claiming a refund do not have to file an extension request.

Automatic Tax-Filing Extension Is Good News For Procrastinators

If you need more time to file your 2005 tax return, you are in luck. Most taxpayers can get an automatic six-month tax return filing extension under revised rules issued by the Internal Revenue Service, reports the Michigan Association of CPAs. The new streamlined rules replace a more cumbersome two-step process. In the past, taxpayers could get an automatic four-month extension by filing one IRS form, and then request an additional two-month extension if they needed more time. The second extension was not automatic....-MORE-

Form 4868 http://www.irs.gov/pub/irs-pdf/f4868.pdf

Tough Retirement Years Ahead For Americans

Many Americans are headed for tough retirement years and may not be able to maintain their current standard of living, suggests a poll by Harris Interactive for the American Institute of Certified Public Accountants (AICPA).

AICPA Tells Us 10 Common Tax Filing Mistakes

The end of tax season is coming quickly – make sure your federal tax returns are correct before turning them in! The American Institute of Certified Public Accountants (AICPA) has provided a list of the 10 most common mistakes made each year by individual taxpayers on their federal tax returns. View the entire list of common mistakes on the AICPA web site.

High School Curriculum Bills On Way To Governor

Legislation making Michigan's high school curriculum some of the most rigorous in the nation is now on its way to Governor Jennifer Granholm. The House and Senate on Thursday finished action on SB 1124 and HB 5606 that will require students to complete multiple credits in English, mathematics, science, social studies and foreign languages to receive a diploma The Governor has applauded the passage and is expected to sign the bills.

http://www.legislature.mi.gov

Granholm Vetoes SBT Repeal As Promised

Saying the repeal of the Single Business Tax (SBT) without a replacement threatens Michigan families, businesses, and the future of the state's economy, Governor Jennifer Granholm kept her vow Friday and vetoed the legislation that would have ended the tax two years earlier by December 31, 2007 (HB 5743)