Preventing a Last-Second Tax Disaster

Today is a day of panic for millions of Americans. Today is April 15th or “Tax Day”. For households who are just now realizing that their checking account or savings account lacks the funds in it to pay their tax bill, viable options remain. What you can’t do is procrastinate and not file your return. If you don’t have the money to [...]

Stimulus Payment Schedule from IRS

Below are the schedules for economic stimulus payments related to tax returns processed by April 15, 2008.
Stimulus Payment Schedule for Tax Returns Received and Processed by April 15
Direct Deposit PaymentsIf the last two digits of your Social Security number are 00-20Your economic stimulus payment deposit should be sent to your bank account by May 2
If [...]

2008 Tax Tip: Deducting Points on Home Mortgage Loans

Homeowners face a lot of confusion regarding how “points” paid on their home mortgage loans can be deducted as mortgage interest on their tax returns. The IRS has published the following information on this topic:The term “points” is used to describe certain charges paid to obtain a home mortgage. Points may be deductible as home [...]

Answers about the Government’s Stimulus Package Payments

There have been a lot of questions about the Who? What? Where? and Why? of the government’s stimulus package payment to US taxpayers recently approved by Congress. Here are all the answers provided directly by the Internal Revenue Service on their website:
Starting in May, the Treasury will begin sending economic stimulus payments to more than [...]

What is the Government Sending to You? Find out with the 2008 Tax Rebate Calculator

IRS Refund E-Mail Scam Circulating the Internet

An e-mail which appears to be an e-mail from the IRS with instructions on how to claim a tax refund is poliferating around the internet. The e-mail appears to be sent from Service@irs.gov with a link to a cloned IRS website. The intent is to steal social security numbers after a visitor completes the refund [...]