Comptroller's tax return insert will shine light on government spending

CHICAGO - As her office began issuing state income tax refunds this week, Comptroller Leslie Geissler Munger urged taxpayers Thursday to register online to check the status of their returns and sign up for text message and email payment notifications.

The easy-to-use Tax Refund Alert System allows taxpayers to visit illinoiscomptroller.com and enter their name and Social Security Number to see if the Comptroller's Office has processed their refund. Taxpayers also can enter an email address and phone number to receive a payment notification.

In addition, Munger announced her office will include inserts with all tax returns detailing where the State of Illinois spent $36.7 billion in 2014, information on the state's bill backlog, and other tools to help taxpayers learn about state and local finances. Those who receive their tax refunds through Direct Deposit may view the tax insert digitally if they register for the Tax Refund Alert System.

"Our team at the Comptroller's office is dedicated to making state government more helpful for taxpayers. Our tax refund alert system and tax return insert will make it easier for them to track their refunds and monitor government spending," Munger said. "We will continue to focus on making government more efficient, transparent, and accessible while offering taxpayer-friendly tools to help our citizens follow the money."

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March 3, 2015 (Des Moines, IA) – Better Business Bureau serving Iowa, Illinois, South Dakota, & Nebraska with offices in the Quad Cities and Cedar Rapids is committed to providing tools and tips to protect consumers from scams and to help them make better purchasing decisions during National Consumer Protection Week (NCPW), March 1-7. During the 17th annual NCPW, BBB will be working to connect people with the best consumer education resources.

BBB's goal is to share information about identity theft, fraud, scams, and technology and safety. This coordinated campaign with NCPW encourages consumers to take advantage of their rights and make better-informed purchasing decisions.

"BBB offers free, reliable services daily to help them make better-informed decisions and protect their personal information," stated Chris Coleman, local BBB president. "We are dedicated to connecting consumers with business that are committed to building trust."

BBB is constantly working to provide consumers with more information. Check out a few of BBB's FREE services below:

Look for the Seal. BBB is running a national campaign to remind consumers to look for the BBB seal when making a purchase. A BBB seal on a business's door, window, vehicle or website is a powerful sign to customers that they are a trustworthy business.

Follow Scams. Scams are not going away, and scammers are constantly changing their tactics. Consumers can use the free resources found at bbb.org/iowa to protect themselves and educate family and friends. BBB is committed to alerting the public each time it learns of a new scheme through its scam alert emails.

Search BBB's Accredited Business Directory. BBB's online directory bbb.org/iowa Trusted Accredited Businesses. Directory search results provide everything from auto repair to movers, and florists to contractors.

Read Verified Customer Reviews. Check out a business at bbb.org/iowa and read their verified Customer Reviews. Customers can write a review detailing their experience with the business, whether or not they would recommend the business, and if it was a positive experience. Last year, locally, more than half a million Customer Reviews were read by potential customers.

About Better Business Bureau: Better Business Bureau is committed to marketplace trust. For more than 100 years, BBB has been creating a community in which businesses and consumers can trust each other through programs that encourage best practices, create marketplace role models, and denounce substandard business behaviors. People turned to BBB more than 132 million times last year, and BBB reviewed more than 4.5 million businesses and charities. BBB Serving Greater Iowa, Quad Cities and Siouxland, founded in 1940 and is one of 112 local, independent BBBs across North America. You can reach us at 515-243-8137 or online at bbb.org/iowa.

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BETTENDORF, Iowa - Sivyer Steel Corporation is pleased to announce its Casting Facility and Process Approval for Steel Castings for Marine Applications from the American Bureau of Shipping (ABS), a society that sets industry standards of safety and performance for marine and offshore applications. Sivyer Steel has been in business since 1909, offering casting services to steel markets around the globe, and its ability to offer steel casting services for ABS-compliant marine applications customers further reinforces its competitive commitment to higher standards, advanced capabilities and efficiencies, innovation and sustainability.

"It's another step in our efforts to be the best of the best," said Kramer. "It allows us to better serve our customers and offer them certified-quality products from a corporation that's been in the industry and dedicated to the highest standards for over 100 years.

"Especially as we expand our markets into marine applications and offshore operations, we're continuing our certifications and building on our extensive experience in the industry."

After a year-long application and audit process involving satisfactory inspection of the facility and an assessment of the manufacturing system and process, Sivyer Steel was awarded this certification and is approved to produce castings to the requirements of ABS Materials and Welding Rules Part 2-3-9 (2015).

According the ABS, meeting these compliance standards offers benefits such as "reduced administration and a greater potential for market penetration." Sivyer Steel already held ISO 9001:2008 certification from the International Organization of Standardization, assuring that the way in which its products are made results in a quality end product. The additional certification from ABS signals to Sivyer Steel's customers that its products meet ABS quality, safety and performance standards.

"Sivyer Steel is proud to be acknowledged as a corporation that strives for excellence and provides the highest quality assurance and minimal environmental impact," said Tonya Burgess, Director of Quality Assurance and Regulatory Compliance. "It's a point of pride for Sivyer Steel and a huge benefit for our customers."

Approval is valid for five years subject to an annual endorsement survey and will expire December 11, 2019.

Sivyer Steel Corporation is an ISO 9001:2008-certified steel foundry, which means that we meet the International Organization for Standardization's criteria for a quality management system. We are committed to producing high-quality, high-volume custom castings for many major manufacturing industries.

For more information, visit www.sivyersteel.com, search Sivyer Steel Corporation to find us on Facebook and follow us on Twitter @SivyerSteel.

Adding to the confusion of extensive tax laws is the fact that they change, says gold financial strategist William A. Storum.

In 2013, for example, new tax laws moved the highest federal income tax rate from 35 percent to 39.6 percent. For 2014, if your taxable income topped $406,750 - or $457,600 if you're married and file a joint return - you are in that 39.6 percent.

"Whether you're in that percentile or not, inflation is an inevitable part of our future because the government is printing money it doesn't have, affecting every American," says Storum, author of "Going for the Gold" (www.goldandtax.com).

"Gold is the standard, and that's why it's a great investment for your portfolio assets - anywhere from 5 to 35 percent is a good range."

But gold investments may be highly taxed in the future, which is why you'll need a tax-planning strategy.

In trying to navigate stocks, mutual funds and various tax traps for gold, such a strategy likely requires a comprehensive and highly detailed plan, says Storum, who offers a few basic tips for gold coins and bars.

•  Trading with like-kind exchanges : As many real estate investors know, like-kind exchanges mean that an owner can exchange one investment property for another and thus avoid paying tax on a sale. Like-kind exchanges are also possible for gold investors. You can exchange bullion - coins or bars - for another form, and as long as equal value changes hands, no income tax will be due. Why trade? One reason may be to obtain smaller, more liquid gold items. A one-ounce gold bullion coin worth $1,400 or more may not be practical for purchases or gifts.

•  Privacy protection: Unlike gold stocks, funds and other similar securities investments, the purchase of gold bullion often is not reported to the IRS. No government agency is able to keep track. For the most part, investors in gold coins and bars, and other precious metals, have a great deal of privacy - if you know the rules and understand when forms must be filed. It's important to work with a dealer who is in compliance with reporting regulations. The IRS may scrutinize dealers and their customers if their compliance is in question.

•  Helping loved ones: Many people today are still not making what they used to, and finding a job right out of college is still challenging for many recent grads. Instead of giving cash to your child, consider giving an appreciated gold coin, which can be sold to pay the mortgage, pay property taxes, buy food, etc. In times of financial distress, your child may be in a low tax bracket - perhaps a 0 percent bracket - and thus would owe much less tax than you probably would pay if you sold the coin yourself. However, due to the so-called kiddie tax, this strategy won't work as well with children who are fulltime students younger than 24.

About William A. Storum

William A. Storum, JD, is a member of the California Bar Association (inactive) and a licensee (inactive) of the California Board of Accountancy. He has extensive experience in individual, corporate, real estate and partnership taxation and has represented clients in tax audits and other tax matters with the IRS. As an investor, Storum came to understand the need to own gold in order to preserve wealth from the government's reach. He wrote "Going for the Gold" (www.goldandtax.com) in an effort to clarify widespread confusion about investment in and taxation on gold. Storum graduated cum laude from the University of Santa Clara with a bachelor's degree in accounting with a minor in economics, and from the University of Santa Clara School of Law, cum laude.