After-tax incomes and spending show big gains
Lawyer News
Millions of economic stimulus payments sent after-tax incomes surging in May by the largest amount since a similar recession-fighting effort by Gerald Ford 33 years ago.
All the extra money helped to push consumer spending up by the largest amount in six months, but economists warned the boost would likely prove short-lived given all the other problems facing consumers at present.
The Commerce Department reported Friday that after-tax disposable incomes jumped by 5.7 percent in May, the biggest one-month gain since a 6.3 percent increase in May 1975 when Ford was president. He was fighting a recession that year with a program to mail individual taxpayers $50 checks.
This time around individual payments range from $300 to $600 with couples getting up to $1,200. In all, $48.1 billion in rebate payments were made in May and through this week, the government announced Friday, payments total $78.3 billion — three-fourths of the $106.7 billion scheduled to be paid to 130 million households. The payments are to be completed by mid-July.
Related listings
-
Former UBS banker charged in U.S. tax probe
Lawyer News 05/14/2008A former UBS banker and an adviser from Liechtenstein have been charged with helping clients, including California real-estate billionaire Igor Olenicoff, avoid paying taxes, according to a published report.Bradley Birkenfeld, who worked at UBS from ...
-
Senate Democrats seek to tax oil companies
Lawyer News 05/08/2008Senate Democrats called Wednesday for a limited windfall profits tax on the largest oil companies and a rollback of $17 billion in oil industry tax breaks as part of an energy package that also would impose federal penalties on energy price gouging.S...
-
Answers to tax rebate questions
Lawyer News 04/30/2008Q: When do I get my economic stimulus payment (aka tax rebate)? A: Some people may actually see their money as early as today. Here's the schedule, if you filed your federal tax return by the April 15 deadline and the IRS processed it by then. If you...
Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.