Changes to ‘Know Before You Owe’ mortgage rules finalized

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Lydia WheelerThe Consumer Financial Protection Bureau (CFPB) has finalized some changes to its “Know Before You Owe” mortgage rules.The new rule, gives creditors more time to draft disclosure forms. Now, creditors have three days to provide a revised loan estimate once a consumer locks in a floating interest rate. Previously, the loan estimates were due on the day the rate was locked.Another change will give creditors more leeway in revising estimates for construction loans. Because construction loans take longer to settle than other loans, the CFPB said estimated charges often change. Under the new rule, there is a space on the loan estimate form where creditors can notify consumers they could receive a revised estimate if the loan does not settle in 60 days.“The new ‘Know Before You Owe’ mortgage forms improve consumer understanding, aid comparison shopping, and help prevent closing table surprises for consumers,” CFPB Director Richard Cordray said in a news release on Tuesday. continue reading »last_img read more

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Governor Wolf Lauds Revenue’s Online Innovation for Businesses and Tax Professionals

first_img SHARE Email Facebook Twitter Governor Wolf Lauds Revenue’s Online Innovation for Businesses and Tax Professionals September 08, 2016center_img Efficiency,  Government That Works,  Innovation,  Press Release Harrisburg, PA – Governor Tom Wolf today praised the Department of Revenue for developing new innovative technology that is enabling businesses and tax professionals to access their expanded tax account information easier and faster while improving efficiencies for businesses and the department.“Businesses and tax professionals have been requesting online access to their tax account information with more details and the Department of Revenue delivered,” said Governor Tom Wolf. “Making statements of account available electronically will help all businesses – especially small business owners – get their tax information quickly so they can spend more time with their customers and clients.”Through this innovation, business taxpayers and tax practitioners using the department’s business tax system, e-TIDES, can request electronic delivery of their statement of account and receive a PDF in their e-TIDES account the next business day. A video overview of the new self-service feature is available here.Previously, taxpayers could only obtain a simple hardcopy summary after making a request in writing or by phone. Department staff would print and mail the document – which could be hundreds of pages long. Expenses surpassed $100,000 annually when the process was limited to reduce costs. Revenue Secretary Eileen McNulty made addressing the issue a top priority.“Businesses and tax practitioners want and need timely access to their tax information which they can now get through the electronic statement of account,” said Secretary of Revenue Eileen McNulty. “Our new feature was tested and vetted with the help of several tax practitioner organizations to ensure the complex and complicated project delivers the necessary information they need. I thank all of those involved for their support to help make this new tool a reality.”Launched August 1, eligible taxpayers can submit the request through e-TIDES and the electronic statement will arrive in the Document Center the next business day. The self-service feature provides more information than ever before. More than 40 types of taxes including corporate net income, sales, use, employer withholding and other business taxes are available.“The best part is the department worked with taxpayers and tax practitioners to develop this new tool,” said Jason Skrinak of Reinsel Kuntz Lesher LLP, Certified Public Accountants and Consultants, and a member of the Pennsylvania Institute of Certified Public Accountants. “It’s fast and easy to use while providing comprehensive tax information which is important to keep a client’s account with the department up-to-date.”The new electronic statement provides a summary of the taxpayer’s account including the three most recent tax periods that have been filed, non-filed tax periods, and tax periods with open liabilities, payments or credits, grouped by tax type. Additional sections show tax periods under appeal, unused restricted credits, and W2 annual reconciliation, if applicable. Detailed account information is below the summary.Security is always an important need for the department. To protect taxpayer information, businesses and tax practitioners must be registered with e-TIDES to request an electronic statement of account. Additionally, tax practitioners must be granted access by their client. The exact steps vary by account.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolflast_img read more

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Alan Curtis claims Swansea midfielder Jonjo Shelvey is staying put

first_img Shelvey has fallen out of favour at Swansea in recent weeks and been linked with a move in the January transfer window, with Crystal Palace and Newcastle reportedly keen on the 23-year-old Londoner. The former Liverpool player did start Swansea’s goalless draw at Palace on Monday, but he was substituted early in the second half after an underwhelming performance. “There’s been questions asked about Jonjo’s attitude but in the couple of weeks I’ve been in charge he’s been excellent,” Curtis said. “There’s going to be a lot of speculation about Jonjo, he’s out of the side at the moment and he’s a current England international. “I guess people are putting two and two together that if he’s not in the team he will move in January. “But I’ve spoken to Jonjo and he wants to play a part at the club and, unless things change, I expect him to be with us through January. “He played on Monday and was disappointing, but if you look at his form you’ve got to look at the entire team as well for most of the season. “I feel it’s a matter of time with Jonjo, potentially he’s a great player and the class will always come through at the end.” Only bottom-placed Aston Villa have scored fewer goals than Swansea and Curtis admits that scoring more remains the team’s priority in the second half of the season. France striker Bafetimbi Gomis, who has scored only once in his last 15 appearances and is another who has lost his place in recent weeks, has been linked with a January move to Qatari club Lekhwiya. England midfielder Jonjo Shelvey wants to remain part of Swansea’s battle for Barclays Premier League survival, caretaker manager Alan Curtis has insisted. Press Association Gomis’ departure could finance at least one new striker for Swansea in the transfer window but Curtis insists it is a case of adding numbers to the current squad, not diminishing it in any way. “I hope he (Gomis) will stay,” Curtis said. “You see the speculation in the papers but the chairman certainly hasn’t mentioned players going to me. “We probably need to bolster the squad, I’m not sure if we need to allow people to go out the door the other way.” Curtis takes charge for the fifth time at Manchester United on Saturday having overseen an upturn in form, with the Welsh club now two points above the relegation zone. Swansea are unbeaten in three, with a win over West Brom and draws against West Ham and Palace, on the back of an unlucky injury-time defeat at Manchester City. “The fact we’ve got a couple of results has probably eased the pressure to get somebody in straight away,” Curtis said at his press conference ahead of the United game. “If we’d lost the four games there would be huge pressure to appoint a new manager, but the performances as well as the results have been good. “I did speak to the chairman (Huw Jenkins) on Tuesday and it’s exactly the same position. “The search for a new manager goes on and we carry on regardless unless the situation changes. “Things could change, even this week, but it’s probably highly unlikely at the moment.” last_img read more

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