News and other tidbits that Chad Cloman finds interesting enough to share
TurboTax customers who e-filed at the last minute this year ran into some serious problems. The company’s servers were overwhelmed—I heard a report on the radio saying they were getting 50-60 requests per second. Some customers printed out the forms and made a midnight run to the post office, while others missed the deadline. Fortunately the IRS was merciful and gave TurboTax users a 48-hour reprieve.
Link: http://news.com.com/…
Ever wondered how credit card numbers are generated? The linked article explains all.
Here’s some really neat origami figures made from dollar bills. My favorite one is the cat.
Link: http://www.financialhack.com/…
(via digg)
Kiplinger presents its list of obscure-but-useful tax deductions. Note that you may have to file a 1040 and/or itemize deductions in order to receive some of them.
Link: http://www.kiplinger.com/…
(via digg)
Researchers tested 45 Irish banknotes and found traces of cocaine on all of them. Assuming this also applies to most American high-denomination currency, the finding is especially significant for people in the US—because detecting traces of drugs on currency is sufficient cause for law enforcement to seize (and keep) the money via a process known as forfeiture. Simply put, don’t carry large amounts of cash.
Link: http://news.bbc.co.uk/…
(via Nothing To Do With Arbroath)
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)
