ACORN Owes Millions in Taxes

by Amanda Carpenter, Townhall An intrepid researcher has discovered more than 200 tax liens totaling more than $3 ... for Reform Now for unpaid taxes since the late eighties. A tax lien is issued when a person or organization fails to pay taxes and that tax debt is considered seriously delinquent. A lien is only issued [more...]

Date: 2008-10-28 20:29:35

Blog posts (48) | Videos (26)
 

IRS Tax Debt

Filing of income taxes start as soon as individual start receiving their W2s ... . But unfortunately to some, they have irs tax debt still to pay to the government. I remember ... , he was devastated when he received a letter from IRS saying that he had IRS Debt because of misfiling [more...]

Date: 2009-01-01 12:43:57

Taxpayer Advocate’s Recommendation: Go Easier on Taxpayers Experiencing Economic Hardship

Nina Olson, the National Taxpayer Advocate, has released her Annual Report to Congress (PDF) ... having difficulty paying their tax debts. 2. Simplify “Cancellation of Debt” Rules for Foreclosures Simplify the “cancellation of debt” minefield that many taxpayers who default on debts must navigate [more...]

Date: 2009-01-08 02:37:42

Recovering from Neoliberal Disaster: Why Iceland and Latvia Won’t (and Can’t) Pay the EU for the Kleptocrats’ Ripoffs By Prof. Michael Hudson

17 August, 2009 — Global ResearchCan Iceland and Latvia pay the foreign debts run up by a fairly narrow layer of their population?The European Union and International Monetary Fund have told them to replace private debts with public obligations, and to pay by raising taxes, slashing public spending and obliging citizens to deplete their savings.Resentment is growing not only toward those who ran up these debts – Iceland’s bankrupt Kaupthing and Landsbanki with its Icesave accounts, and heavily [more...]

Date: 2009-08-22 16:39:26

Why Obama’s tax cut plan is a crock

His claim is he’s going to cut taxes for 95% of American families ... unless he’s going to smilingly stack another trillion plus in debt on to the 5 trillion "official" debt ... you that corporations are tax collectors not tax payers? Who would pay those corporate taxes? 100 [more...]

Date: 2008-09-19 06:05:07

WSJ: IRS Makes It Harder To Negotiate Tax Debts

Wall Street Journal: Wiping Out Your Tax Debt Gets Tougher; IRS Tightens Rules, as Firm That Acts as Middleman Settles Cases With 18 States, by Tom Herman: It's getting harder for taxpayers in debt with the IRS to negotiate a deal to pay ... in 2007 from 106,000 in 2004. ... Critics say the program needs to be overhauled. In a recent report [more...]

Date: 2008-07-23 16:45:31

Growing numbers avoiding or delaying paying tax

Growing numbers of people and businesses are avoiding or delaying paying taxes as the "credit crunch" bites, ... . The auditors estimate that up to 1.5 million working adults had a personal or business tax debt in April ... , introduced risk profiles on taxpayers to target those who could be bad payers and tailored debt collection [more...]

Date: 2008-11-20 08:28:37

No Graft?

From Megan McArdle a STIMULUS PROPOSAL: If the Government wants to stimulate the economy, ... you have with fiscal stimulus. People will save some of the tax cuts, but people need to pay down debt too ... . And a critique: The main problem with a payroll tax holiday is that it minimizes Congressional [more...]

Date: 2009-01-14 02:33:57

a stimulus plan you’ll never see

http://feedproxy.google.com/~r/instapund… If the Government wants to stimulate the economy, ... you have with fiscal stimulus. People will save some of the tax cuts, but people need to pay down debt too ... then why not just declare a payroll tax holiday immediately? It’s fast to turn on, fast to turn [more...]

Date: 2009-01-13 14:16:16

Government debt — who will pay?

“The ‘incidence’ of taxation refers to who pays the ultimate burden of a tax. The optimal theoretical resolution is government budget surpluses that reduce the debt. But that is the least probable scenario. Total government spending in the USA has reached an astonishing sixty percent of national income. Most of the American economy’s output is now allocated by government rather than the desires of individuals. [more...]

Date: 2009-09-24 04:57:10

“turn assets into tax relief” by selling crown assets, paying down the debt and applying interest savings toward tax relief, ... of the attempted elimination of the $2-(or so)-a-vote subsidy to major political parties [more...]

Date: 2008-11-28 02:38:25

Critical: Tell Gov. Schwarzenegger NO VET CARE TAX!

Animal guardians should not have to pay “luxury tax” on veterinary visitsMy fellow Californians: first the bad news, then the other bad news. Our state faces a $41 billion budget deficit over the next 18 months, and to make matters worse, Governor Arnold Schwarzenegger propounds to pay off this massive debt by sticking animal guardians [more...]

Date: 2009-01-15 09:04:00

Hopeless Economists

Hopeless Economists December 1st, 2008 By MICHAEL SILVERSTEIN I had a simple notion to help ease the economic crisis ... , Namely, that consumers might not spend the extra money they get but save it or pay down debt ... . And the mechanism to do this? Suspend the payroll tax for a year and pay Social Security benefits [more...]

Date: 2008-12-01 21:48:40

The Not-So-Great Depression

I’m going to keep reporting sales trends for as long as economic ruin remains the foremost topic on everyone’s mind ... consumer. Curio City has no debt, but after paying Q3 payroll and sales taxes it hasn’t got much cash ... and I keep an iron grip on my financials. My conservative, no-debt, bootstrap business model looks [more...]

Date: 2008-10-17 16:25:00

Affiliate Program Review: T3Leads.com

It seems that new affiliate programs are popping up all the time, ... are in niches including: Debt Settlement Credit Cards Pay Day Loans Insurance Tax Debts Mortgage [more...]

Date: 2008-12-15 05:04:37

Old Debt Settlements Can Come Back to Haunt with Large Tax Bite

Q. I settled a debt in 2007 for less than owed, paying $15,000 on a $22,000 debt ... you for being so singled out)! Most of the time if you settle your debt with credit card companies ... as a result of cancellation of debt. The amount of forgiven debt will count as income. According to the IRS [more...]

Date: 2008-12-01 14:54:03

Loany Bologna

Monday night (January 5th) the Sioux Falls city council will vote on an ordinance that would allow the city to borrow $38 million for needed ... tax to repay debt of municipality or political subdivision.  Any city, county, town, school ... for the collection of an annual tax sufficient to pay the interest and also the principal thereof [more...]

Date: 2008-12-31 22:16:21

IRS Unveils Initiatives to Help Taxpayers in Financial Trouble

IRS changes offer relief to delinquent taxpayers. The IRS unveiled a series of initiatives Tuesday aimed at helping people who can’t pay their taxes ... and collection letters to taxpayers who recently lost their jobs, rely on income from Social Security ... the IRS to set up an installment plan. These plans allow taxpayers to pay their debt in monthly [more...]

Date: 2009-01-07 06:45:10

Short sale debt forgiveness not to be taxed

The state Department of Revenue, reversing an earlier stand, says sellers do not have to pay real estate excise tax on debt forgiven in a short sale. [more...]

Date: 2009-01-15 18:03:00

Obama Considering $310 Billion Tax Cut

The Wall Street Journal has sent a news alert that says that Obama is mulling a stimulus plan that will rely more heavily on tax cuts than initially ... of the overall tax relief would involve cuts for people who pay income taxes or who claim the earned-income ... at all income levels are carrying a lot of debt, and given how any kind of missed payment [more...]

Date: 2009-01-05 02:51:52

"Is The Deficit A Threat To A Future Recovery?"

Jamie Galbraith responds to the question posed by the National Journal, "Is the deficit a threat to future recovery?" James K ... problem is not that it is too big, but that it is too small. Far too small. In principle ... device to promote expansion, since tax savings will be used first to try to pay down debt... A major [more...]

Date: 2008-12-03 20:24:00

School accountability: Not Is there ANYTHING a charter school can do wrong to get the charter school shills on the state Board of Education -- led ... that has been failing to pay taxes, has exceeded the enrollment cap, has run up a huge debt and which depends on unpaid staff to complete the year. Speaking of charter schools: The blizzard of [more...]

Date: 2009-01-08 02:14:33

$2.3 billion in crown assets for sale. Will Flaherty spend the cash or pay down the debt?

The Canadian Press is reporting that Finance Minister Jim Flaherty hopes to keep the government out of deficit in part by selling $2 ... proposing a temporary removal of the right to strike in the public service, perhaps indicating ... the national debt, and use the interest savings for tax relief stimulus. Kevin Gaudet with the Canadian [more...]

Date: 2008-11-28 02:11:48

Goldman Sachs Tax Rate Drops To 1%

Very, very bad public relations. And I thought it was bad PR when the auto company CEOs flew to Congress in private jets to ask for a bailout ... billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes ... is cause for concern. “This problem is larger than Goldman Sachs,” Doggett said. “With the right [more...]

Date: 2008-12-17 22:22:54

Balance? We Don’t Need No Stinkin’ Balance:

Balance? We Don’t Need No Stinkin’ Balance: Posted by Mike Folkerth on Thursday, January 15th, ... No problem, we’ll tax the public to pay your debts and you can get back to gambling and make [more...]

Date: 2009-01-15 14:19:29

In 2009 Go Back to Basics

Hi All,  Like most hardworking Americans you probably spend a good deal of time working for your money ... % credit card.  Dump it.  If you owe money on rent-to-own appliances, pay it off. If you have back taxes ... be wishy washy, eliminate high interest debt.   4) Own your own home.  Home ownership increases [more...]

Date: 2009-01-07 20:11:16

Do You Have To Pay Taxes Selling On eBay?

Last week the M-Network launched a new feature called Ask the M-Network where readers can ask any financial questions ... debt. Is there a minimum amount that I can make before I have to pay taxes on my eBay income [more...]

Date: 2009-01-12 13:16:09

Emergency Private Pension Plan

The simplest kind of stimulus governments the world over could provide is to cut withholding taxes. Let people keep more of their money from each pay check. People will then do what they have to do. That is, they'll either use the cash to pay down debts, save it, or spend it [more...]

Date: 2009-01-14 04:26:58

It will take the average…

…person with $10,000 in credit card debt 30 years to pay off. Consolidate this debt into your mortgage so you have the tax-deduction at the end of the year. [more...]

Date: 2009-01-12 17:32:56

Forgiven Debt Really is Income

There was a pretty good post over at WiseBread yesterday on how if a credit card company forgives some of what you owe, what was forgiven is income you have to pay taxes on. On the one hand, this is a point worth repeating because it seems to surprise most people. On the other hand, the post neglects to mention an important exception, and, moreover, feeds into the belief that this is an irrational fluke of the tax code. It isn’t. It makes sense. You owe Credit Card Corporation (CCC) $5000. [more...]

Date: 2009-09-23 15:59:00

A short note on a payroll tax "holiday"

By TigerHawk at 1/13/2009 09:13:00 AM Should we immediately pump money into the economy via a payroll tax holiday? ... will save most of the money or use it to pay down debt, rather than spend it or invest it an actual project ... debt. Why will it help (more than a little) to move yet more liabilities on to the federal [more...]

Date: 2009-01-13 14:13:00

Life in Gordon Browns socialist "Cool Britannia" - Debt collectors to pay for social engineering.

Yep, common sense go's out of the window. Never mind that folk can not pay the ever expanding tax bills, ... huge legal costs arising from bank-rupcy orders that dwarf the original debt, according to Citizens [more...]

Date: 2009-01-09 10:14:00

Paid Estimated Taxes, Who Sold Their Car? @ The Roundup

On Estimated Taxes The weekend was uneventful but we did have to pay our estimated taxes a few days ago ... out after reading about John McCain’s credit card liabilities. Over $100,000 in credit card debt ... month. Interesting bit here on the credit card habits of our political candidates. Five Cent [more...]

Date: 2008-06-16 16:02:44

GAS TAX is needed

Personally, I believe in the idiom—you get what you pay for—so cutting taxes too much has never made sense to me ... the Articles of Confederation (AC), the United States held a lot of debt, because under the AC, it was hard [more...]

Date: 2009-01-08 23:13:49

China: The Power Behind the $700 Billion Bailout

As Congress prepares to gift $15 billion to the three U.S. auto makers, there remains the mystery behind this year’s $8 ... . Yes, taxes will pay part of the bill. But the rest will be piled onto the national debt, which ... That Lend You Money,” which is Mr. Gao’s primary advice. One of Mr. Gao’s thoughts illuminates his take [more...]

Date: 2008-12-10 16:48:41

China: The Power Behind the $700 Billion Bailout

As Congress prepares to gift $15 billion to the three U.S. auto makers, there remains the mystery behind this year’s $8 ... . Yes, taxes will pay part of the bill. But the rest will be piled onto the national debt, which ... That Lend You Money,” which is Mr. Gao’s primary advice. One of Mr. Gao’s thoughts illuminates his take [more...]

Date: 2008-12-10 19:31:00

Cross Bay Bridge Rebate May Be Voided by Tonia Cimino - The Queens Courier

Read original...With these tough economic times, any kind of rebate or freebie helps ... to plummeting tax revenues, higher fuel costs and elevated debt service obligations. The MTA awaits ... with E-ZPass pay $1.55 each way; $2.50 for cash.“Elimination of the resident rebate program at Cross [more...]

Date: 2008-12-04 03:51:00

Obama wants to do what?

Obama's big plan to "jumpstart the economy" includes enacting a windfall profits tax on the oil companies in order to provide $1, ... it in my IRA or pay down my credit card.But I ask you, why should the oil companies be financing my retirement or paying off my debt?Another plan to help Americans is addressing predatory credit card company [more...]

Date: 2009-01-09 02:15:00

Devil In Details On MTA Tax and Spend Plan

A few figures provided by the MTA should give everyone pause about just how much money can be raised by the tolling of the Harlem River and East ... with a $469 million deficit.To begin to pay down the debt, a monthly fee of $1 per account will be instituted. This fee will be dedicated to reducing the E-ZPass debt and instituting improvements [more...]

Date: 2008-12-05 15:25:00

Deep Thought

The fact that more than two and a half million jobs were lost in 2008 proves that upper-class tax cuts are great economic policy. And thank God we took the advice of the great Alan Greenspan and didn't pay down the debt too quickly; that was always a serious risk and we sure couldn't use that money now. [more...]

Date: 2009-01-09 16:48:00

Suzee Orman Says “Pay off Your Mortgage, Boomers” - But I’m Not Sure

Suze  Orman has a new book that she’s promoting on Oprah’s website: Suze Orman’s 2009 Action Plan ... Your Mortgage says that carrying mortgage debt into retirement can wreak “financial havoc.”  He takes the reader through three scenarios of mortgage repayment, to review the tax effects of paying off [more...]

Date: 2009-01-12 16:48:32

Time to Stop Earmarks!

December 17, 2008 Filed under Economy, National Politics Tags: Economy, No More Taxes! ... from paycheck to paycheck wondering how I am going to pay my rent or student loan debt [more...]

Date: 2008-12-17 05:00:06

Mental Illness Made The Democrat Not Pay The IRS Or The State Of New York But He Was Fit To Work For The Governor

Robert, it really is a mental illness!  Gov ... he recently settled a debt that soared to at least $206,000. The sum included $151,000 owed to the IRS ... by the state. O’Byrne disclosed the tax debt and his failure to file returns after being questioned [more...]

Date: 2008-10-18 14:05:16

?If a company can not pay its interest..?

One of Mick’s picks for his Blog Rush ealier today, Simon at Irish Election, ... debt on to the banks balance sheet (and the tax payers laps). Meanwhile, property development company ... PricewaterhouseCoopers (PwC) to assess the extent to which the banks are delaying the collection of interest [more...]

Date: 2008-10-21 19:33:32

Borrowers Beware: Stricter Loan Requirements in 2009

Ah, credit. The nation’s widespread adoption of it has allowed several generations of Americans to spend beyond their means, ... pay more for it. You’ll also need to keep an eye on your overall debt ratio if you’re in the market ... debt ratio at or below 45 percent of their pre-tax income. If you plan to apply for an FHA loan [more...]

Date: 2009-01-13 13:27:55

Alt-A and ARM resets could trigger another crisis!!!

We are winding down out of subprime and going into Alt-A and ARM resets. We have government funding for homes in two ways. One, incentives with lower rates and tax credits, but, there is more. The GSE’s are allowing loans that are 105% and where the monthly debt to income is over 60%. These loans have high default rates and we will pay the price as unemployment stays high. quote Let’s look at a few facts: The Fed is literally the entire mortgage market. Yes, really. [more...]

Date: 2009-09-29 18:15:58

Basics About The Finance Information - Part 1

Savings. Pay yourself unrivaled. Start now stashing 10% of your income in an “Emergency” savings. Don’t aid it for anything but real emergencies. Keep a “For Sure” savings account for yearly expenses you know are coming and you can essence (e.g. Christmas, insurance, taxes, etc.). Also have a Buy Stuff account. If you do, you’ll symbolize producing to flee many financial disasters which bequeath face you, and you can escape borrowing iva or debt management from high-rate lenders. Borrowing. [more...]

Date: 2009-04-30 10:46:55

Here Is A Good Plan for Dealing with Tax Debt

Author : Vlavladi Vishnu If you are in need of tax debt relief you are part of a growing numbr of people With the economy htiting bottom and the financial world remaining shaky, many pople find it difficult to pay their tax bills For this reasson, it is vitally important to accept and understand that there is inndeed a serious isssue to be dealt with, and then to formulate a “plan of atack” Usually people who are dealimng with tax debt will have failed to file at least one reurn The first [more...]

Date: 2009-09-09 08:29:42

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