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$110 million looking for its rightful owners -- could you be one?

Posted Nov 27th 2007 8:50PM by Sarah Gilbert (RSS feed)
Filed under: Personal Finance

Every time May rolls around, if I'm expecting a tax return, I start to wonder: What if the IRS got my address wrong? What if this is the time my mailman drops the letter in the gutter by accident? What if my check gets lost?

Evidently, my paranoia isn't all just imagination; every year, tens of thousands of refund checks are returned to the IRS as undeliverable. Could one of them -- or several -- be yours? The IRS is looking for 115,478 taxpayers whose refund checks were returned to them by the postal service. The checks aren't tiny, either -- they total $110 million and average just under $1,000. Some taxpayers have several checks sitting in the IRS bank account, just waiting for the government to get updated address information from you.

Update your address and check on your refund status at this IRS page; or download form 8822 to ensure the IRS has your most recent digits.

Higher 10-year bond is not necessarily a bad thing

Posted Jun 12th 2007 2:10PM by Eric Buscemi (RSS feed)
Filed under: Economic Data

Stock and bond market volatility has picked up the past few weeks as the yield on the ten-year bond increased from 4.6% to 5.14%, a big increase in what has been a mundane long-end of the curve for quite some time.

Pretty much following the bursting of the tech-telecom bubble and 9/11, the bond market has been stuck in a very tight trading range. Investors developed a Pavlovian response running into bonds on any bad financial news or events surrounding oil or terrorism. However, it appears that this might be about to change. The 10-year bond is oversold and due for a considerable rally, but after a bond market rally, look for a behavioral shift to equities to begin.

The returns for equities will be too promising to pass up and greed will win out over fear. Do not read too much into the recent selloff in bonds. Too much of the asset-allocation pie was directed into bonds, it is time for it to shift back into equities.