The Greenwich Old Timers Athletic Association Scholarship Program

Greenwich Old Timers Athletic Association pic

Greenwich Old Timers Athletic Association

A resident of Cos Cob, Connecticut, Michael J. Smeriglio III has more than 30 years of experience as a licensed certified public accountant (CPA). Michael J. Smeriglio III is also a board member of the Greenwich Old Timers Athletic Association in Connecticut.

Founded in 1960, the Greenwich Old Timers is an association created to provide a place for youth to enjoy sports and other activities in a safe, supportive environment. The association encourages good sportsmanship and awards college scholarships to deserving students. As of 2016, the association had awarded 86 four-year college scholarships to young men and women in the area.

Individuals, corporations, and association-sponsored events provide funds for the Greenwich Old Timers Athletic Association Scholarship Program. In 2016, the association raised enough money to award $29,500 in needs-based scholarships.

The association has also provided one-year scholarships to students, raising funds through the Joseph Piro Jr. Memorial Golf Tournament. The one-year scholarships help graduating seniors complete their studies and receive degrees.

What Do NASCAR Race Flags Mean?


NASCAR Race Flags pic

NASCAR Race Flags

Michael John Smeriglio is an experienced Certified Public Accountant, who owns the Michael J. Smeriglio III, CPA, accounting firm in Greenwich, Connecticut. Outside of his profession, Michael J. Smeriglio is an enthusiastic fan of NASCAR and owns a modified race team that has won three championships.

The National Association for Stock Car Auto Racing, or NASCAR, was founded in 1948. Headquartered in Daytona Beach, Florida, the organization has fan base that is second only to the National Football League. Currently, NASCAR sanctions a number of professional race car series that include the Monster Energy NASCAR Cup Series, the Xfinity Series, and the Whelen Modified Tour.

Regardless of the series, flags are used at all NASCAR races to communicate important messages to drivers. These include the green flag, which signals the start of the race, and a checkered flag, which indicates a driver has won the race.

Caution flags, such as the red flag and the yellow flag, are also often used. A red flag indicates drivers must stop, while a yellow flag is waved to trigger a caution period. During a caution period, drivers must slow down due to unsafe track conditions. Other flags include the black flag, waved to let drivers know they must exit the course, and a white flag, which is used when the leader has one remaining lap.

How a Tax Lien Works

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Tax Lien

Since 1986, Michael J. Smeriglio has owned and operated a private accountancy practice in Cos Cob, Connecticut. Michael J. Smeriglio draws on extensive experience in helping clients understand their taxes.

When an individual fails to pay due tax to the Internal Revenue Service (IRS), that entity may file a tax lien against the debtor’s property. This can only occur after the government has assessed the amount owed and sent a bill with a specified due date. If the taxpayer does not remit the total amount before the due date, the IRS can officially file a Notice of Federal Tax Lien.

The lien notice indicates that the IRS has first claim to the person’s property until the debt is paid. This automatically increases the taxpayer’s risk as a recipient for credit and can make it extremely difficult for him or her to secure a loan or other new credit.

An IRS lien must remain on the individual’s record until the debt is paid or a qualified installment agreement is in place. Such agreements are available to taxpayers who owe $25,000 or less and are fully compliant with other filing requirements, and who have not defaulted on previous direct debit agreements. The plan itself must pay off the debt within 60 days or before the expiration of the collection statute, whichever occurs first.

A tax lien automatically disappears after the debt has passed the specified collection statute. It may also be eligible for release if the IRS did not follow proper procedures for issuing the lien, provided that the taxpayer can secure evidence to that end.

Strategies for Organizing Credit Card Debt

Credit Card Debt pic

Credit Card Debt

As a certified public accountant, Michael J. Smeriglio guides individuals and families.

When reorganizing credit card debt, many debtors begin by transferring debt from an account with a high-interest rate to an account with a lower rate. Asking the account issuer whether the low-interest rate will last for the duration of the debt is important because some special promotions grant low-interest rates on transfers for only a short time and then raise the rate. If the long-term interest rate is favorable, it may save the debtor a significant amount.

When considering the transfer of funds from one account to another, attempting to negotiate a lower interest rate may be worthwhile. Many credit card companies find themselves motivated to offer better rates if they would lose a customer to a more competitive company. Once all interest rates are set, the debtor can begin to pay off the accounts with highest interest rates.