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Stuck? How to get help on your taxes

NEW YORK - Some formerly resolute do-it-yourselfers are giving up their calculators and turning to professional tax preparers for help with their returns, following the flood of tax changes that were enacted as part of the fiscal cliff deal at the beginning of 2013.

Aaron Shepherd, a 38-year-old Minneapolis editor of a personal finance site, has been doing his own taxes since he was a teen, but now he thinks "it's just too complicated" so he's hiring a pro - at a cost approaching $400 - to do it for him. And he's sort of an expert who follows tax developments for a living.

About 40 percent of taxpayers typically file their own returns, according to the National Taxpayer Advocate's 2012 Annual Report to Congress. That's been the case for years and probably will continue in the future, say experts.

But that number may temporarily shrink as Americans try to make sense of the new tax code that emerged from the fiscal cliff deal at the beginning of 2013. Some tax breaks slipped away, others were resurrected and still others were modified. Nothing got simplified.

Now taxpayers, even those who use programs like Intuit Inc's TurboTax software, seem to want at least a little extra expert guidance. Services that catered to do-it-yourselfers are rushing to provide advice in a way that might win them new clients.

"Over time, we've mostly acquired customers from people who were preparing their taxes manually. Now the opportunity is to attract customers from the national franchises," says TurboTax spokeswoman Julie Miller.

But those national franchises are fighting for market share too. H&R Block Inc spokesman Gene King says its strategy is to win over customers who usually like to use other companies' online software with some new inexpensive and automated tax services.

As a result, there are more low-cost advice options on the menu this year. Most cost far less than the $246 average that the National Society of Accountants says it costs for a personal preparer to do a return including itemized deductions.

Your own CPA
TurboTax has launched a new remote paid-preparer option called CPA Select that matches users with certified public accountants. Clients upload their documents and communicate with the preparer via phone, video chat or email. Costs vary depending on the complexity of the return, starting at $89.95.

Customer Tatum Vitale, a 29-year-old organ transplant coordinator from Belmar, N.J., used the service for her 2012 taxes after trying to do them herself first. "This was the first year we owed money, and I didn't want to pay more than we had to," she says. She communicated by email with the CPA, and in the end owed less than she had originally calculated - and all for the same $125 she paid last year to file her federal and state returns using software on her own.

TurboTax, which processed 25 million returns last year, also provides free phone support for tax questions and live chat for customers of its CD, online or mobile products, which range from a free 1040EZ to a $74.99 Home and Business federal edition.

H&R Block, the largest professional tax preparation company, is expanding its "Block Live" offering to iPads, provides a list of CPAs who can complete a return remotely via a video interface and uploaded documents. Costs start at $39.99 to complete a 1040EZ and go past $219 for complex returns, with exact costs determined by the tax professional.

The company, which had 14.9 million retail clients and 7.4 million software users last year, also offers a "best of both" package, which allows customers to start with a standard software package - which ranges from $19.95 to $64.95 - and then get their returns reviewed remotely by an H&R Block professional for $79.95.

Customers can get live chat and unlimited email support with software packages but only one free phone session with a tax pro; additional chats cost $9.95.

"We have found consumers would rather do quick chat. They are on a computer already," says King.

The other major storefront tax preparer, Jackson Hewitt Tax Service Inc, also markets self-prep products ranging from free for a basic federal return to $49.95, along with extra support. Its DIY products come with unlimited email and live chat support, but only the highest level and small business packages come with unlimited phone support.

Free help
There are other ways to get help, including going directly to the Internal Revenue Service; the phone hotline is 800-829-1040. The IRS also offers a free Volunteer Income Tax Assistance (VITA) program for people who make less than $51,000 and a Tax Counseling for the Elderly (TCE) program. (Find a program near you.)

For taxpayers earning less than $57,000, there is also free tax help available at myfreetaxes.com, a partnership of the United Way Worldwide, Goodwill Industries International, the National Disability Institute and the Walmart Foundation in collaboration with the IRS.

While the 2012 filing season may push do-it-yourself filers into the arms of paid providers, says Michael Millman, of Millman Research Associates, a research firm based in Short Hills, N.J., "they tend to then go back to their traditional ways once they have a feel for how it's done."

Copyright 2013 Thomson Reuters.

Source: http://www.nbcnews.com/business/stuck-how-get-help-your-taxes-1C8824838

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by admin on March 12, 2013

KnowBe4 CEO Stu Sjouwerman addresses inaccurate Internet security myths and offers the real truth to help reduce losses due to cybercrime.CLEARWATER, FL (PRWEB) March 12, 2013 Last year, American businesses and consumers lost a combined $20.7 billion to cybercrime, with 71 million people falling victim to online scams and phishing attacks (1). With the high cost of cybercrime, security awareness ? View full post on internet security ? Yahoo! News Search Results

Source: http://webprominute.org/knowbe4-proves-myths-about-security-awareness-training-wrong-cybercrime-costs-businesses-over-20-billion-in-2012.htm

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Cardinals head to conclave to elect pope for troubled Church

By Crispian Balmer and Philip Pullella

VATICAN CITY (Reuters) - Roman Catholic cardinals prayed for divine help on Tuesday, hours before a conclave to elect a new pope to tackle the daunting problems facing the Church at one of the most difficult periods in its history.

The cardinals, including the 115 aged under 80 who will vote for the next pope, filed into St. Peter's Basilica as choirs sang at the ritual solemn Mass that precedes a conclave.

They prayed that God would inspire them to choose the right man to replace Pope Benedict, who abdicated abruptly last month saying he was not strong enough to confront the woes of a Church whose 1.2 billion members look to Rome for leadership.

The Mass was the last event for the cardinals as a group before they enter the Sistine Chapel on Tuesday afternoon and make their choice for the next pontiff before Michelangelo's famous fresco of the Last Judgment.

In his homily, Italy's Angelo Sodano, dean of the cardinals, said they should pray "that the Lord will grant us a pontiff who will embrace this noble mission with a generous heart".

He called for unity within the Church and urged everyone to work with the next pope, whoever he should be.

The secret conclave, steeped in ritual and prayer, could carry on for several days, with no clear favorite in sight.

Vatican insiders say Italy's Angelo Scola and Brazil's Odilo Scherer have emerged as the men to beat. The former would bring the papacy back to Italy for the first time in 35 years, while the latter would be the first non-European pope in 1,300 years.

However, a host of other candidates from numerous nations have also been mentioned, including U.S. cardinals Timothy Dolan and Sean O'Malley, Canada's Marc Ouellet and Argentina's Leonardo Sandri.

MANY CHOICES

Known as the "Princes of the Church", the cardinals will only emerge from their seclusion once they have chosen the 266th pontiff in the 2,000-year history of the Church, which is beset by sex abuse scandals, bureaucratic infighting, financial difficulties and the rise of secularism.

Many Catholics are looking to see positive changes.

"It's not an anxious moment, but a moment of great hope. The first thing the Church should do is return to the lives of the people, instead of losing itself in theology," said Italian Andrea Michieli, 22, who attended the Mass.

"The new pope should give a young image of the Church so everyone sees the Church is not just the Curia," he said referring the Vatican's central bureaucracy which has been criticized for failing to prevent a string of mishaps during Benedict's troubled, eight-year reign.

Mexican Cardinal Norberto Rivera Carrera told Italy's La Stampa newspaper there were many different views about the right profile for the next pontiff, with some wanting an academic, others seeking someone close to the people, or else a good manager.

Asked if the conclave could therefore drag on, he said: "I do not think it will be long because there are diverse opinions. We will come to an agreement very quickly".

The average length of the last nine conclaves was just over three days and none went on for more than five days.

Signaling the divisions among the cardinals, Italian newspapers reported on Tuesday an open clash between prelates in a pre-conclave meeting on Monday.

The newspapers said the Vatican hierarchy's number two under Benedict, Tarcisio Bertone, had accused Brazil's Joao Braz de Aviz of leaking critical comments to the media. Aviz reportedly retorted that the leaks were coming from the Curia, earning loud applause.

CORRUPTION AND INTRIGUE

All the red-hatted prelates in the Sistine Chapel were appointed by either the German-born Benedict XVI or his Polish predecessor John Paul II, and the next pontiff will almost certainly pursue their fierce defense of traditional moral teachings.

But Benedict and John Paul were criticized for failing to reform the Vatican bureaucracy, battered by allegations of intrigue and incompetence, and some churchmen believe the next pope must be a good chief executive or at least put a good management team in place under him.

Vatican insiders say Scola, who has managed two big Italian dioceses, might be best placed to understand the Byzantine politics of the Vatican administration - of which he has not been a part - and therefore be able to introduce swift reform.

The Curia faction of cardinals working inside the Vatican bureaucracy is said by the same insiders to back Scherer, who worked in the Vatican's Congregation for Bishops for seven years before later leading Brazil's Sao Paolo diocese - the largest in the country that has the largest national Catholic community.

With only 24 percent of Catholics living in Europe, pressure is growing within the Church to choose a pontiff from elsewhere in the world who would bring a different perspective.

Latin American cardinals might worry more about poverty and the rise of evangelical churches than questions of materialism and sexual abuse that dominate in the West, while the growth of Islam is a major concern for the Church in Africa and Asia.

The cardinals are expected to hold their first vote late on Tuesday afternoon - which is almost certain to be inconclusive - before retiring to the Vatican hotel for the night.

They hold four ballots a day from Wednesday until one man has won a two-thirds majority - or 77 votes. Black smoke from a makeshift chimney on the roof of the Sistine Chapel will signify no one has been elected, while white smoke and the pealing of St. Peter's bells will announce the arrival of a new pontiff.

As in medieval times, the cardinals will be banned from communicating with the outside world. The Vatican has also taken high-tech measures to ensure secrecy in the 21st century, including electronic jamming devices to prevent eavesdropping.

Cardinals earlier began moving into the Vatican's Santa Martha hotel, where they will live during the conclave.

(Additional reporting by Naomi O'Leary and Tom Heneghan; Editing by Alastair Macdonald)

Source: http://news.yahoo.com/cardinals-head-conclave-church-beset-woes-010338684.html

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Nigeria: Video shows bodies of foreign hostages

KANO, Nigeria (AP) ? A video posted online appears to show the corpses of some of the seven foreign hostages abducted by Islamic extremists in northern Nigeria and later killed, a gruesome warning of the growing dangers in the region.

The video, viewed by The Associated Press on Monday, matched still images released earlier by the Islamic extremist group Ansaru when it claimed the killings. The face of one of the corpses in the video also resembled that of one of the hostages already named by authorities.

European diplomats said Sunday that the hostages had been killed.

On Monday, Nigerian Interior Minister Abba Moro told the BBC's Hausa language radio service that those nations said that it was "likely" that their citizens had died in the attack.

"We hope they're alive," Moro said. Moro did not respond to requests for comment Monday from the AP. Nigerian officials often speak to the BBC Hausa service, as it is viewed as one of the dominant independent news sources in Nigeria's predominantly Muslim north.

In the video, a gunman stands in sand, holding a rifle near what appears to be dead bodies. A later shot in the video shows three male corpses, one of whom appears to have been killed by a gunshot wound to the head from a high-powered weapon.

The video has no sound. An accompanying caption for the video in Arabic calls it: "The killing of seven Christian hostages in Nigeria." Another description includes the statement Ansaru released Saturday claiming that it killed the hostages, signed by a man with the nom de guerre Abu Usamatal Ansary.

Ansaru fighters kidnapped the foreigners Feb. 16 from a camp for the construction company Setraco at Jama'are, a town 200 kilometers (125 miles) north of Bauchi, the capital of Bauchi state. In the attack, gunmen first assaulted a local prison and burned police trucks, authorities said. Then the attackers blew up a back fence at the construction company's compound and took over, killing a guard in the process, witnesses and police said.

Those kidnapped included four Lebanese and one citizen each from the United Kingdom, Greece and Italy. Local officials in Nigeria initially identified one of the hostages as a Filipino, something the Philippines government later denied.

The gunmen appeared to be organized and knew who they wanted to target, leaving the Nigerian household staff at the residence unharmed, while quickly abducting the foreigners, a witness said.

In an online statement Saturday in which it claimed the killings, Ansaru said it killed the hostages in part because of reports in the Nigerian press of the arrival of British military aircraft to Bauchi. However, the local news articles cited by Ansaru reported that the airplanes were spotted at the international airport in Abuja, the nation's central capital 180 miles (290 kilometers) southwest.

The British Defense Ministry said Sunday the planes it flew to Abuja ferried Nigerian troops and equipment to Bamako, Mali. Nigerian soldiers have been sent to Mali to help French forces and Malian troops battle Islamic extremists there. The British military said it also transported Ghanaian soldiers to Mali the same way. Ansaru had said it believed the planes were part of a Nigerian and British rescue mission for the abducted hostages.

The news of the killing of the hostages comes as the nation's security forces remain unable to stop the guerrilla campaign of bombings, shootings and kidnappings across the country's north. The majority of those attacks have been blamed on Boko Haram, an Islamic extremist group that grew out of the remains of a sect that sparked a riot and a security crackdown in Nigeria in 2009 in which about 700 people were killed.

Boko Haram has hit international targets before, including an August 2011 car bombing of the United Nations office in Abuja that killed 25 people and wounded more than 100. An online video also purportedly claims that Boko Haram is currently holding hostage a family of seven French tourists who were abducted from neighboring Cameroon in late February. The group is blamed for killing at least 792 people last year alone, according to an AP count.

Ansaru, which analysts believe split from Boko Haram in January 2012, seems to be focusing much more on Western targets. Analysts say it has closer links to al-Qaida in the Islamic Maghreb and cares more about international issues, as opposed to Boko Haram's largely local grievances. But much remains unknown about Ansaru, which has communicated through short, sometimes muddled online statements.

The hostage killings appear to be the worst in decades targeting foreigners working in Nigeria, an oil-rich nation that's a major crude supplier to the United States. Most kidnappings in the country's southern oil delta see foreigners released after companies pay ransoms. The latest kidnappings in Nigeria's north, however, have seen the hostages killed either by their captors or in military raids to free them, suggesting a new level of danger for expatriate workers there.

___

Associated Press writer Sunday Alamba contributed to this report.

___

Jon Gambrell can be reached at www.twitter.com/jongambrellAP .

Source: http://news.yahoo.com/nigeria-video-shows-bodies-foreign-hostages-090354417.html

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3 Red Hot Dividend ETFs - Zacks.com - Zacks Investment Research

Even though markets are surging higher, income investing remains as popular as ever. This is especially true in the dividend ETF world, as many top income funds have seen huge inflows to start 2013.

Seemingly, investors continue to embrace these products as a way to achieve equity appreciation with a lower level of risk. It also doesn?t hurt that many are concerned about the Fed looming over the market, causing some to reconsider their bond holdings for the long term.

These trends make dividend ETFs a viable option for nearly all stripes of investors in this current market environment (See 4 Excellent Dividend ETFs for Income and Stability).

However, not all dividend ETFs are created equal, and some have fallen by the wayside in terms of popularity to start the year. ETFs like the WisdomTree Dividend ex-Financials Fund ( DTN - ETF report ) and the First Trust Morningstar Dividend Leaders Fund ( FDL - ETF report ) both have seen outflows to start the year, despite the overall bullish tone in the market.

This hasn?t been a problem for some funds in the space though, as a few have seen huge inflows to start 2013. In fact, a handful have captured a great deal in assets, suggesting that sentiment is extremely bullish on these few products going forward.

While some might scoff at looking at popularity to find trends in the space, the strategy does have some merit. It can show the ETFs?and investment segments?that are increasingly in favor with investors, and which are believed to be the best places for portfolios going forward.

After all, we have seen a huge increase in invested capital for a number of Japan ETFs such as DXJ?timed along with the country?s surge?to start 2013, while we have also witnessed a big outflow in gold and gold mining ETFs like GDX, alongside a historic plunge in this commodity to open up the year (read Three Most Popular ETFs of February).

So there can definitely be something to looking at the top asset accumulating ETFs in the time period as a signal for trends heading into Q2 and beyond.

For investors subscribing to this theory, we have highlighted below three dividend ETFs that have led the way in terms of AUM accumulation so far in 2013. All three have gained more than four times as many inflows as the average unleveraged equity ETF in the time frame, suggesting they are surging up the popularity charts.

Due to this factor and some of the current market conditions favoring equities?and especially income generating stocks?over bonds, any of these three could be great choices for those seeking to ride a wave of popularity higher in the dividend ETF space:

iShares Dow Jones EPAC Select Dividend Index Fund ( IDV - ETF report )

This dividend ETF has seen nearly $300 million in inflows to start 2013, a level far in excess of many other products this year. It is especially noteworthy as it is one of the few broad developed market ETFs to see such impressive inflows in the time frame (read 4 International ETFs Yield more than 5%).

The ETF has nearly 20% of its assets in financials, and then about 14% in industrials, and 13% in both energy and utilities. Large caps do account for the bulk of the assets, while European securities make up roughly two-thirds of the total as well.

IDV does have a truly impressive yield though, as the fund is currently sporting a 5.3% 30 Day SEC payout. The cost is a bit higher at 50 basis points a year, but the fund does have a high volume and tight bid ask spread, which should keep overall fees low.

Vanguard High Dividend Yield ETF ( VYM - ETF report )

For a pick closer to home, many investors have pushed towards this U.S.-centric high dividend ETF. The fund has seen more than $470 million in inflows to start the year, putting it into the top 50 equity funds for the time frame.

The dividend ETF is ripe with household names though, as a variety of U.S. large caps dominate the top holdings. Consumer staples take up about 20% of the assets, followed by 13% for health care, energy, and industrials (see Guide to 10 Great ETFs Yielding 7% or More).

The yield for this fund comes in at 3.1% for 30 Day SEC terms, a robust level when compared to many bond products. Furthermore, the ETF is an ultra-low cost choice, costing investors just 0.1% a year in fees, along with very high volume.

This fund has a Zacks ETF Rank of 1 or ?Strong Buy? while it has a medium risk rating.

Vanguard Dividend Appreciation ETF ( VIG - ETF report )

The most popular dividend ETF?by inflows?to start 2013 is the ever trendy VIG. This ETF has seen over one billion in fresh assets this year, enough to put it in the top 10 for inflows to start the year.

The fund does have similar holdings to its cousin VYM, but a little bit of a difference. This dividend ETF looks to zero in on companies that have a track record of increasing their dividends year after year, rather than a pure focus on yield.

This results in a fund that has about 150 securities that have a heavy large cap focus. Household names are again atop the fund, with a big holding in consumer staples and industrials.

The focus on dividend growth does reduce the yield to a level of just 2.2% in 30 Day SEC terms, easily the lowest on the list. However, it does have a low expense ratio of just 13 basis points and it has outperformed the S&P 500 to start the year (see Two Unconventional Sources of ETF Yield).

This fund has a Zacks ETF Rank of 1 or ?Strong Buy? while it has a low risk rating.

Bottom Line

Yes, equity markets are broadly at, or are within striking distance, of all-time highs. But investors still continue to embrace dividend ETFs as great ways to obtain broad market exposure, as they can arguably offer up the best of both worlds in the current investing landscape.

Though, investors should note that there are literally dozens of choices out there that can offer up great exposure to this space. This can make sorting through the market very difficult, especially in generally positive market conditions.

For this reason, it could be a good idea to take a closer look at ETFs that have seen a surge in popularity to start 2013. Not only are there a number of great dividend focused options in this group, but they could be impressive picks for many investors if current trends in the market hold into the second quarter.

If you still aren?t sold, consider that all three of the ETFs highlighted above have beaten out the S&P 500 over the past six month period, further showing that investing in popular dividend ETFs could be the way to go in this market.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Follow @Eric Dutram on Twitter

Source: http://www.zacks.com/commentary/26232/3-red-hot-dividend-etfs

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Long to-do list awaits the next pope

VATICAN CITY (AP) ? The moment Cardinal Albino Luciani learned his colleagues had elected him pope, he responded: "May God forgive you for what you've done." The remark, by the man who became Pope John Paul I, was seen as an expression of humility ? but also a commentary on the mammoth task ahead.

There is no job like that of pope. He is the CEO of a global enterprise, head of state, a moral voice in the world and, in the eyes of Roman Catholics, Christ's representative on earth.

And the man who emerges as pontiff from the conclave starting Tuesday has a particularly crushing to-do list.

Here are some of the challenges awaiting the next pope:

___

REFORM: The next pope will have to restore discipline to the scandal-plagued central administration of the church. Benedict XVI, the former pope, commissioned a report on the Vatican bureaucracy, or Curia, that will be shown only to his successor. Benedict's butler had leaked the pope's private papers revealing feuding, corruption and cronyism at the highest levels of administration. The secretive Vatican bank recently ousted a president for incompetence and is under pressure for greater financial transparency. Bishops in several countries say nonresponsive Vatican officials are hampering local churches. The Curia decides everything from bishop appointments and liturgy, to parish closings and discipline for abusive priests.

___

SEX ABUSE: The Vatican remains under pressure to reveal more about its past role in the church's failures to protect children worldwide. The issue erupted ahead of the conclave, when victims from the U.S., Chile and Mexico pressured cardinals to recuse themselves because they had shielded priests from prosecution. Benedict instructed bishops around the world to craft policies to keep abusers from the priesthood, but church leaders in some nations haven't yet complied. "There's still the victims," Chicago Cardinal Francis George said in a news conference last week. "The wound is still deep in their hearts, and as long as it's with them it will be with us. The pope has to keep this in mind."

___

EMPTY PEWS: Secularism has already taken a toll on churches in Europe and the U.S., where a growing number of people don't identify with a faith. The move away from organized religion is also hurting parishes in Latin America. Churches in Brazil and other predominantly Catholic countries in South America already had been losing members to the spirited worship found in independent Pentecostal movements. As the church loses members, it also loses influence in public life in many countries. Church opposition to same-sex marriage has been largely ineffective in the West. The next pope must be a missionary-in-chief, with the gravitas, charisma and personal holiness to bring Catholics back to church.

___

EMPTY PULPITS: Europe and North America need more priests. Clergy in developing countries need more resources. And everywhere, priests are struggling with the outsized burdens of the modern-day pastor. The job requires fundraising, personal counseling and an ability to uphold doctrine, often to Catholics who don't want to listen. The abuse crisis, meanwhile, casts a shadow on today's clergy, even though most known molestation cases occurred decades ago. In recent years, some priests have made their own proposals to strengthen their ranks. Clergy in heavily Catholic Austria in 2011 called for ordaining women and relaxing the celibacy requirement. Benedict rebuked them.

___

RELIGIOUS PERSECUTION: Catholics and other Christians live as religious minorities in many countries, including Syria, India and China, where they face discrimination, government interference and, in many cases, violence as they try to practice their faith. The issue is a rare one that unites religious leaders across faiths. The pope is considered a key voice in the fight. Some of the tougher conditions are in Muslim nations, which often ban and punish Christian evangelizing. Addressing the issue requires utmost diplomacy; a misstep can cost lives.

___

GLOBALIZATION: While the church is shrinking in the West, it's booming in Africa and Asia. The new pope will have to shift much of his attention to the challenges for these relatively new dioceses: a life-and-death fight against poverty; threats from radical Muslim movements; and maintaining Catholic orthodoxy while leaving room for local styles of worship.

___

OTHER FAITHS: The new pope will have to keep up friendships with a long list of other Christian groups and other religions, including Orthodox Christians, Anglicans and Jews. But his most pressing task will be navigating relations with Islam. The importance of the issue was made starkly clear in the fallout from Benedict's 2006 speech in Regensburg, Germany, in which he cited the words of a Byzantine emperor who characterized some teachings of the Prophet Muhammad as "evil and inhuman." Benedict made many efforts to mend fences, including praying beside an imam that same year at the historic Blue Mosque in Istanbul.

___

UNITY: The next pontiff inherits a church divided over the role of lay people and women, on doctrine and social justice teaching ? even on what is required to be considered Catholic. In Benedict's final audience with cardinals, he urged them to work "like an orchestra" where "agreement and harmony" can be reached despite diversity. He could have been talking to the whole church.

_____

Follow Rachel Zoll at www.twitter.com/rzollAP

Source: http://news.yahoo.com/heavy-workload-awaits-next-pope-church-turmoil-164626575.html

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