(Sandra from Arizona) i get some of my refund early every year but last year it was hard to find holiday refund loans can I get one this year? (more…)
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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Archive for the ‘Taxes’ Category
Can a Lender Request My IRS 1040 Form?
(j from Pennsylvania) Can a lender request my irs 1040 form? (more…)
What is Debt Forgiveness?
When examining debt relief options, clearly forgiveness of debt can be an appealing idea. Imagine getting all or a portion of your debt forgiven rather than having to deal with debt collectors and legal action! If it sounds too good to be true, understand that there are many consequences of debt forgiveness that could leave you in worse shape. (more…)
Tax Preparation Fees – How Much Is The Correct Amount?
The tax preparation fee for any individual depends on how complex his tax return is. The more complicated the return, the higher would be the fee. This holds true for all accountants who would charge for a tax return file on a flat rate, an hourly rate or quote a price for separate tax forms. (more…)
Debt Settlement Increases Income Taxes
Debt settlement might sound like the best option for you. Besides, many companies “claim” to be able to help you settle for half of what you owe. What they don’t tell you is that after paying their fees and increased taxes, you barely save anything. (more…)
IRS Raises Mileage Deduction a Whopping 8 Cents
The Internal Revenue Service announced that the mileage deduction will increase from 50.5 to 58.5 cents beginning July 1, 2008. This increase is an adjustment to “better reflect the real cost of operating an automobile,” according to IRS Commissioner Doug Shulman. (more…)
Are Stimulus Payments Taxable Income?
The Economic Stimulus Act of 2008 has provided working families with a boost to help with soaring costs. The purpose is to reduce the effects of recession. The payments we received certainly are helpful. However, will we be taxed on these payments? (more…)
Stimulus Payments Trigger Debt Settlements
The economic stimulus payments received by households in 2008 is intended to increase consumer spending. It was designed to soften the recessionary pressures caused by the credit crunch.
Many consumers, however are using it to catch up on late bills. Debt collectors are finding that many consumers are receiving substantial stimulus payments, which could be used as a lump sum payment to settle an old debt. (more…)
Some IRA Distributions Allowed Under Stimulus Plan
On April 30, the Internal Revenue Service announced that taxpayers who had their stimulus payments deposited into any account that has favorable tax treatment may withdraw the funds without penalty. Announcement 2008-68 by the IRS details the special allowance that the IRS has made regarding stimulus direct deposits. (more…)
Stimulus Payments Ahead of Schedule
Treasury Secretary Henry Paulson announced that the 2008 stimulus payments will be released ahead of schedule. Nearly 8 million taxpayers will receive their stimulus payments via direct deposit by Friday, May 2. (more…)
