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What can I do when I anticipate difficulty in collecting my fee from a claimant I represented in a Social Security matter?

A representative may ask a client to deposit money, even money the client received in a Supplemental Security Income (SSI) retroactive payment, into a trust or escrow account to enable fee collection. To learn about the conditions that apply to an escrow account, refer to Social Security Ruling 82-39.


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    Q: An insurance policy that provides specific protection damages that may not be covered within standard liability insurance policies is called:

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   FIFO

"First In, First Out" or "FIFO" is an accounting method for inventory based on the premise that the oldest inventory will be the next inventory to be sold or shipped. While predominantly a method of calculating the value of inventory, it can be extended to any of a company's assets, using the same underlying assumption that the oldest assets will be the first ones to be used, sold, or disposed of. FIFO stands in contrast to LIFO--Last in, First Out—an accounting method based on the premise that the newest inventory or assets will be the first ones sold or disposed of. Companies use FIFO for a variety of reasons: for some it reflects the reality of their business, while others use it to maximize the recorded value of inventory or, under different circumstances, to minimize the taxable value of assets or inventory.

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