by Darling Garcia, J.D., Director of Operations April 18, 2016 is just around the corner. Most people file a tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. Here are six tips to help you find out if you should file a tax return: General … Continue reading Tips on Whether to File a 2015 Tax Return
by Katie Burns, J.D., Attorney, Housing Counselor, and HUD Certified Reverse Mortgage Counselor The Step Forward Michigan program has helped thousands of homeowners avoid mortgage, reverse mortgage, and property tax foreclosure. It was created in 2010, after Michigan received $498 million of the Hardest Hit Loan Fund established by the US Department of Treasury. Michigan homeowners with a qualifying hardship receive a mortgage lien and forgivable … Continue reading Step Forward Receives Additional Funding
by Pat Ocheltree, MiCAFE Application Assistant There is a lot of confusion about Medicare, what it covers, how individuals get coverage, etc. Generally, if you receive Social Security benefits, you will automatically become eligible to enroll in Medicare Part A (hospital coverage) and Medicare Part B (medical) during the 3 months before, the month of, and the 3 months following your 65th birthday. Medicare A is fully paid for unless you … Continue reading 4 Important Medicare Tips
by Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project Since 1998, the Mid-America Pension Rights Project (MAPRP) has been assisting clients with pension issues. One question that we frequently receive is whether or not to take a lump sum payout of a pension benefit. Some employers offer a one-time lump sum payment in lieu of a traditional life-time annuity option. This option can be a … Continue reading Should I take a Lump Sum Pension Payout?
by Daryl Thompson, J.D., Hotline Attorney Are you in a financial pinch? The Michigan Homestead Property Tax Credit may provide you with valuable compensation that you have missed. Michigan seniors seem to be missing out on a valuable resource. Many seniors do not file their yearly income taxes because they do not owe any income taxes. This could lead to them not claiming the Homestead Property Tax … Continue reading Applying for the Michigan Homestead Property Tax Credit
by Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project Most of you may know that the Mid-America Pension Rights Project (MAPRP) assists clients with pension issues, but you may not know that the MAPRP works closely with the Pension Benefit Guaranty Corporation (PBGC). The PBGC is the government entity that insures most private pension plans when a plan terminates. One of the most … Continue reading MAPRP and the Pension Benefit Guaranty Corporation
by Michael Wendel, Administrative Specialist Many seniors are not required to file a tax return due to their income status. Yet, seniors can still be eligible for Michigan tax credits, such as the Homestead Property Tax Credit or the Home Heating Credit, which can be filed separately from a tax return. By not filing for these credits, seniors could be missing out on these and other assistance credits, which otherwise could help reduce … Continue reading 3 Considerations for Seniors this Tax Season
by Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project EDRO is the acronym for, Eligible Domestic Relations Order. Without getting too bogged down with the gory details, a EDRO is a document that is generated when a divorce occurs. A EDRO is used when one or both of the parties earned a pension through a public employer during the marriage. A pension … Continue reading What is an EDRO?
As pensions continue to grow scarce and Americans are assuming more and more responsibility for their retirement savings, the “online retirement calculator” has become an extremely popular tool that promises to tell you whether or not you are on track for retirement. These calculators, however, do have limitations. The following article, taken from the Wall Street Journal, lays out all of the information you need … Continue reading The Scoop on Retirement Calculators
