As tax day approaches, the Internal Revenue Service is not consistently using the same standards to fine late-filing taxpayers and losing millions of dollars in revenue, according to a new report.
A Boca Raton man appeared in federal court after prosecutors say he hid millions of dollars in assets from U.S. tax collectors in the Swiss bank UBS.
A Florida Senate bill that would levy heavy penalties on agents and financial advisers who make fraudulent annuity sales has moved closer to becoming law — though not without a few insurance industry-friendly changes.
President Obama has his eye on automatic enrollment in individual retirement accounts and an expansion of the Saver’s Credit Act as a way to encourage Americans to prepare for retirement, according to a retirement policy expert.
MetLife Inc. Chairman and Chief Executive C. Robert Henrikson received compensation of $12.4 million in 2008, down 13 percent from the previous year, according to an Associated Press calculation of figures disclosed in a regulatory filing Tuesday.
Advisers are being pelted with a dizzying array of new insurance products. But as quickly as products develop, so, too, do the challenges, which include evaluating carriers’ financial health and deciding which product might be favorable in a given economic environment.
Your client was a victim of a Ponzi scheme and wants to know whether he can deduct a loss on his tax return for the fraudulent behavior of the investment adviser.
More employer-sponsored retirement plans may start to offer Treasury and government money market mutual funds to minimize the risk of losses, according to a survey of plan consultants released today by Pacific Investment Management Co. LLC.
Opposition to the Obama administration's proposal to create automatic retirement plans in the workplace appears to be mounting — led in large part by both employers and financial advisers.
A marketing technique called framing is being looked at with suspicion even thought it often produces a positive result — getting people to save for retirement.
If you can’t file your 2008 federal income tax return with the Internal Revenue Service by April 15 and have to file for an Oct. 15 extension, you can still save on interest and penalties.
The cost of health care in retirement has risen 50% since 2002, according to research released today by Fidelity Investments.
Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston.
In his White House press conference last night, President Obama defended his proposal to reduce the tax deduction for philanthropic gifts, stating that the measure would not deter donors from giving.
Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today.
Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market.
Health care costs of Alzheimer's disease are at least $33,007 annually per patient, compared with $10,603 for an older person without Alzheimer's, according to a report issued Tuesday by the Alzheimer's Association.
Only advisers who are independent of mutual funds, brokerage firms, insurance companies and other entities that sell financial products could give advice on individual retirement accounts if House Health, Employment, Labor and Pensions Subcommittee Chairman Rob Andrews, D-N.J., has his way.
The U.S. Chamber of Commerce, the nation’s largest employer advocacy group, has made it clear where it stands on President Obama’s proposal to create automatic retirement plans in every workplace: nice try, but no thanks.
As Florida weighs proposed legislation that could make it easier to toss annuity salespeople into prison, agents and the insurance industry are rallying to fight the bill.
