We all know that individual tax returns are due on April 15 (or a day or two later if April 15 is on a weekend). But Congress inserted a little tax time craziness into sections 1308 and 1307 of the new and drastically unimproved Bankruptcy Code of 2005. Section 1308(a) states: (a) Not later than [...]
irs
Most of us have an idea of what income is for federal or state tax purposes. Wages are income, as are gains on the sale of stock. Dividends and interest also qualify. We know that. It’s intuitive and easy to understand. The classic definition of income is that it’s the return on labor or capital. [...]
As part of The Worker, Homeownership and Business Assistance Act of 2009 Congress passed an extension to the First Time Homebuyer program. Our “Friends” at the IRS have created a list of ten important things they want you to know about the program. If you are in the market for a new home, according to [...]
Here is a list of the top 10 types of documents you should keep for tax purposes. Proof of income can be established by a W-2 form or a 1099. Bank account statements and credit card statements show a history of account transactions. Invoices and payment receipts and canceled checks show how much is owed [...]
Part 3 of my review examines Kevin Trudeau’s book, “Debt Cures “They” Don’t Want You to Know”, Chapter 5: Negotiate! The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this [...]
Since tax season is on hand, the media is full of ads touting tax refund or “refund anticipation” loans. “Get your money NOW!” “In today’s economic climate, can you afford to wait for your tax refund?” Well, the easy answer is, especially in today’s economic climate you should not get a tax refund loan. Why [...]
