July 8, 2008

Editor's Note

The Treasury has announced plans to offer debit cards as an option for Social Security payment recipients. In today's electronic society, this seems like a smart move on several levels, cutting costs for the government - and of course we can assume the government will funnel that savings right back into the Social Security fund to help stave off the impending onslaught of payments that will be owing as the floodgates are trampled by the army of retiring baby boomers, right? The only ones who will probably be hurt by this move are the companies that are in the business of providing check-cashing services. If any of you readers out there have clients in this area, please let us know how these companies are planning on dealing with this change.

Best regards,
Gail Perry, CPA
Managing Editor
AccountingWEB, Inc.
editor@accountingweb.com


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