June 04, 2004

NewsWatch

The next big thing in blogs--blogs that speak, or "Audioblogs." Check one out here. Who knows? Maybe one day soon, Benefitsblog will also have audio. . .

Speaking of blogs, Tom Peters has been blogified. See how a website here can be transformed into a blog here.

The IRS issued Revenue Ruling 2004-60 which provides the tax consequences of transfers of interests in nonqualified stock options and nonqualified deferred compensation from an employee to a former spouse incident to a divorce.

The American Jobs Creation Act of 2004, H.R. 4520, was introduced today in the House of Representatives in anticipation of a Ways and Means Committee markup next Thursday, June 10th. Summary of the legislation is here. (Thanks to a reader for the tip!)

More legislation:

  • "House Approves Re-employment Account Plan" (via Findlaw.com). The bill, H.R. 444, would give eligible unemployed workers up to $3,000 to use for job training and other services that help them get back to work.
  • The House also approved H.R. 4109 ("Simple Tax for Seniors Act") on June 2. The bill would allow seniors to use Form 1040SR to file their Federal income tax returns. The bill would make new Form 1040SR available beginning in 2005 to taxpayers age 65 or older for filing their returns without regard to their receipt of Social Security benefits, interest, dividends, distribution from a qualified retirement plan, annuity (or other deferred payment arrangement) or capital gains or losses. (The Tax Guru has an "alleged" sample of the new return.)

Here's an alternative to the retirement plan from the Tax Guru. (Actually, with all of the surveys indicating that (1) employers are trimming their retirement programs and (2) Baby Boomers are planning to continue to work as they age, there appears to be some truth in the jollity. . .)

Posted by B. Janell Grenier at June 4, 2004 09:38 PM