Taxpayers getting back money from the government this year have received an average refund of $ 2,893 so far, according to March 26 data from the Internal Revenue Service. That’s a nice bump up in cash flow, and a lot of people look forward to it as a chance to splurge, pay down debt or add …
Do you look forward to tax time? For some, it’s exciting because you know you’ll get a refund. It’s found money, like that $ 20 bill you find in the pocket of a coat you haven’t worn in a long time. But what to do with found money? Usually our thoughts go to all the …
by Paula Langguth Ryan, Mediator, Consumer Advocate and Communications Consultant Got debt? Thinking of using your tax refund check to play catch up or pay down a balance? Before you act, read this article. Most people who have debt make the wrong choices with their tax refunds. End result: you wind up even more stressed …
“Dear Jim, My husband is the only one that works and we have 4 children. He has made 51,000 and paid in 8,100 since February. Hi I am wondering if you could tell me approximately how much we will get back in 2013. Haley” Haley: To get a “rough” estimate of your 2012 refund, you …
A recent paper from the National Bureau of Economic Research has found that tax refunds create a spike in bankruptcy filings by as much as 7 percent. The reasoning behind this spike is due to households needing to file bankruptcy but not having the cash on hand to actually declare bankruptcy. The tax refunds actually …
Tax refund loans or tax refund anticipation loans as they were known, were always a stinker. People would pay tax preparers a lot in fees just to get their refund a little sooner. But those days are thankfully on the way out. This excellent article in the Washington Post explains how the loans grew and …
As tax season rolls around it’s no surprise to see tax refund check cashing schemes arising in the news. Announced Monday was the filing of a criminal Information charging defendants Wilson Lau, and his wife, Kate Yuee Lau, for their participation in a check cashing scheme involving more than $5 million in fraudulently obtained tax …
55 people have been indicted with connections to a large tax fraud scheme which involves hundreds of falsified income tax returns that sought over $250 million in refunds. This scheme has been deemed “Operation Stolen Treasures” and while it is not a big blockbuster movie starring Nicholas Cage it is a criminal investigation revolving around …
Alma “Dear Steve, I am presently in bankruptcy and i only have 11 months to go, but now I find that they did not get my tax refund what will happen I have already done 5 years. What will happen if I have not missed any payments? It is payroll deducted. Alma” Dear Alma, Huh? …
“Dear Steve, Okay you asked, I have my five credit cards($850), ($120), ($140), ($870), ($550) an overdraft, gas card, timeshare, 2 car loans and a mortgage. I also have to pay my property taxes for my home($1050) and the time share($883). I want to knock out 2 cards one both under $150, and try to …
