March 11th, 2011

3 Lessons from 2011 Tax Filing Delays – Don’t Rely on Your Tax Return Money!

tax time

**Today’s guest post is contributed by Money Crashers.**

Did you file your taxes early this year hoping to receive a refund in the mail pronto, only to be disappointed?

Many people filed early and were unable to receive their refunds before February due to recent tax law changes forcing the IRS to update their systems at the beginning of the year.

Maybe it’s the death of the rapid return option; I’m not sure. But I do know that I watched many of my friends and co-workers become wide-eyed with panic because they weren’t getting their refund as quickly as expected. Perhaps they had already spent their estimated tax return money with the expectation that they would receive the reimbursement early in 2011. Or maybe they had it earmarked for a bill or other expense.

If this happened to you and you missed a payment of some sort because you didn’t have access to your refund as soon as you would have liked, the silver lining are these three lessons:

Continue Reading | 1 Comment | Twitter | |

April 16th, 2010

Friday Scoop on Credit Karma & Housing Market News

Despite the Obama administration’s $75 billion budget for a mortgage-modification program for troubled homeowners, only 1 home is saved for every 10 foreclosures in America A government watchdog is cracking down on Uncle Sam’s mortgage-modification program for not keeping pace with the amount of foreclosures hitting the market; of the 6 million borrowers who are […]

Continue Reading | 2 Comments | Twitter | |

April 13th, 2010

Top Ways To Spend Your Tax Refund The Smart Way

If you haven’t sent in your taxes, be sure to file by April 15th and put your refund to work for you. The average income tax refund is a record $3,036, a 10% jump from last year’s average refund. Thanks to tax credits included in last year’s economic stimulus package, many Americans can expect a […]

Continue Reading | No Comments | Twitter | |

April 9th, 2010

Saving For Retirement? Shave $1,000 Off Taxes With The Saver’s Credit

If you’ve been socking away retirement money, you could be eligible for the Retirement Savings Contributions Credit, aka the Saver’s Credit. This often-overlooked credit rewards you for having the good financial sense to build your nest egg early by shaving off as much as $1,000 on your tax bill, $2,000 if filing jointly. It’s simple: […]

Continue Reading | No Comments | Twitter | |

March 17th, 2010

Tax Credits You May Be Eligible For!

You probably already know about the Making Work Pay tax credit and the Home Buyer tax credit, but did you know you might be eligible for a tax break thanks to your text message donation, or for job-hunting expenses, or simply being a college student? Check out the following tax credits and deductions to ensure […]

Continue Reading | No Comments | Twitter | |

November 16th, 2009

Millions might end up paying back part of Making Work Pay tax credit

More than 15 million people who received the Making Work Pay tax credit as part of Obama’s $787 billion stimulus package may end up paying back part of their tax credit due to the federal government mishandling allocation of the credit. The Treasury Department admits that the government may have been too generous in distributing […]

Continue Reading | 3 Comments | Twitter | |

February 23rd, 2009

Its Tax Time!!

April 15th is fast approaching and there is a lot of information out there. Don’t procrastinate! In order to get everyone into the tax spirit, I wanted to share a few of my favorite sites for helpful tax tips. One of the best places to start is Bankrate’s Tax Guide. Bankrate offers a wealth of […]

Continue Reading | No Comments | Twitter | |

January 29th, 2009

Tax Debt and You

As an American facing the economy today, you may be one of the many facing a tax debt with the Internal Revenue Service. Facing a large bill resulting from back taxes and old returns, is a huge problem that may seem very daunting. The IRS is a large agency, and there may be a number […]

Continue Reading | No Comments | Twitter | |

Archives

Categories