News and other tidbits that Chad Cloman finds interesting enough to share
Taxpayers are eligible this year for a one-time refund of excise taxes paid on phone bills. The standard refund amount varies from $30 to $60 -or- you can dig up old phone bills and calculate the actual amount paid. The refund is not automatic—you have to claim it by filling in a line on form 1040 or 1040a, or by filing form 1040EZ-T.
Link: http://www.snopes.com/…
(via digg)
The US Mint has implemented some regulations that prohibit people from melting down pennies or nickels. Apparently the base metals are worth more than the coins.
Link: http://money.cnn.com/…
(via digg)
A US District Court judge has ruled that the US Treasury must change its currency such that blind people can distinguish between bills of different denominations. Apparently the US is one of the few countries where this is a problem. An appeal has already been authorized.
Link: http://www.acsblog.org/…
(via Slashdot)
Link #2: http://today.reuters.com/…
Second Life, a popular MMORPG, allows one to exchange virtual money (Linden dollars) for real money at a varying rate. Now a player claims to be the first person to reach an online net worth that could be cashed in for $1 million. Anshe Chung managed to do this via virtual real-estate transactions over a 2½-year period. This raises some interesting tax questions, which Chad’s News has covered previously.
Link: http://money.cnn.com/blogs/…
(via Neatorama)
Press Release: http://www.anshechung.com/…
Starting in 2007, the US Treasury will release “presidential” dollar coins. They’ll be phased in over time, similar to the state quarters, for all presidents up through Richard Nixon. Of note is that the coins will have inscriptions on the outside edge with date, mint mark, “In God We Trust,” and “E Pluribus Unum.” I’ve also heard that they will not tarnish as quickly as the Sacagawea dollars.
Link: http://www.usmint.gov/…
Link: http://today.reuters.com/…
(via Blogcritics Magazine via digg)
In the first week or so after making 75 of its movies available on iTunes, Disney sold an impressive 125,000 copies. Total revenue was $1 million.
The addition of a single comma will cost this company an estimated $2 million (Canadian).
Link: http://www.theglobeandmail.com/…
(via digg)
This German man has discovered a way to actually make money from farming. He covered his fields with solar panels and sells the energy to the utility company. Reminds me of the old joke where a farmer won the lottery. When asked what he’d do with the money, he replied that he’d keep on farming till he lost it all.
This man received some junk mail that included a non-negotiable sample check for $95,093.35 (along the lines of “you could make this much money if you use our get-rich-quick system”). Just for kicks he deposited the check, and it cleared. Fully expecting it to bounce at a later date, he didn’t withdraw the money. But after several weeks with no bounce and repeated reassurances by the bank, he decided to do some research. Turns out the check was indeed negotiable, even though it said “non-negotiable for cash.” So he got to keep the money. Note to self: Do not use real bank account information on fake checks…
This reminds me of my days in college, where a credit card insurance company sent me real checks. I was supposed to fill out my credit card info on the back but never did. I got several pizzas from that deal.
When the American Basketball Association (ABA) was folded into the NBA, the co-owners of one team opted to take a portion of the NBA’s television income, which at the time wasn’t that much. They are still receiving monthly payments, even though they haven’t owned a team since 1976, and it’s been worth about $168 million so far.
I had a friend, back in the pre-email days, who actually got a letter in the mail proposing a 419 scam. It’s amazing how well it works, even after all this time. And it hooks people who should know better.
What a month for the Bill and Melinda Gates Foundation. First, Bill Gates announces he will step down from day-to-day operations at Microsoft in order to spend more time on foundation-related work. Then, out of the blue, Warren Buffet announces he will donate $31 billion (yes, billion with a ‘b’) to the foundation, doubling its assets. Let’s hope all this money does some real good in the world.
