Tax Time Ulcer Avoidance 2009
Each year in the United States, many thousands of good folks experience an uncomfortable burning sensation in their stomachs as they contemplate their annual tax return.
I'm here to help ease that god-awful pain.
I'll give you the heads up on five important things the IRS wants you to know about this year - that benefit you! The tax man/woman is a human who is willing to help you.
Don't work yourself into a frenzy over your taxes this year; get in touch with them and let them help you sort things out.
As has been the case for many, many years, if you cannot afford to pay the taxes you owe, you must only pick up a phone and give the IRS a call to make payment arrangements.
If you do not think you can afford to pay your taxes because you/your family is suffering from some hardship, like income loss, major illness (or severe mental confusion), call and let them know before the filing deadline.
Here's the five important things the IRS would like you to be aware of this year: 1) Even if you did not qualify for tax credits in any previous tax filing year, check to see whether or not you qualify for them this year.
(check the Child Tax Credit, the Earned Income Tax Credit and the Alternative Fuel Vehicle Credit) 2) If you purchased a home for the first time in 2008, or have not owned a home in the three years prior to a purchase in 2008, take advantage of the (up to) $7,500.
00 tax credit.
http://www.
irs.
gov/newsroom/article/0,,id=187935,00.
html 3) If you did not receive a rebate check from the stimulus program in 2008, had a child in 2008, or a change in income, check to see whether you are eligible for the "Recovery Rebate Credit".
(Your rebate amount will be included in your tax refund, not issued in a separate check.
) Form 1040 Instructions, Fact Sheet 2009-3, or the "Information Center" at the IRS website.
4) There is an additional standard deduction for real estate taxes paid on your home in 2008, to your city or state, that you can claim.
(maximum of $500 for singles and $1000 for Married Filing Jointly) 5) If you are in a "Mortgage Workout" or in Foreclosure, you can exclude debt that has been forgiven on that principal residence if the balance of the original loan was less than $2 million.
($1 million for a married person filing a separate return.
) Form 982 These five things, if you qualify for any of them, can mean a great deal to anyone who doesn't want to hand over any more of their hard-earned dough to Uncle Sam than is absolutely necessary.
As you check out each of these opportunities to reduce you tax debt, or increase you tax refund, keep this in the forefront of your mind; the IRS does not want you to starve yourself or your children to satisfy your tax obligation.
They want you to put your family and good health first.
Take advantage of as many of these five opportunities as you can to reduce your tax burden this year and give your stomach a break!
I'm here to help ease that god-awful pain.
I'll give you the heads up on five important things the IRS wants you to know about this year - that benefit you! The tax man/woman is a human who is willing to help you.
Don't work yourself into a frenzy over your taxes this year; get in touch with them and let them help you sort things out.
As has been the case for many, many years, if you cannot afford to pay the taxes you owe, you must only pick up a phone and give the IRS a call to make payment arrangements.
If you do not think you can afford to pay your taxes because you/your family is suffering from some hardship, like income loss, major illness (or severe mental confusion), call and let them know before the filing deadline.
Here's the five important things the IRS would like you to be aware of this year: 1) Even if you did not qualify for tax credits in any previous tax filing year, check to see whether or not you qualify for them this year.
(check the Child Tax Credit, the Earned Income Tax Credit and the Alternative Fuel Vehicle Credit) 2) If you purchased a home for the first time in 2008, or have not owned a home in the three years prior to a purchase in 2008, take advantage of the (up to) $7,500.
00 tax credit.
http://www.
irs.
gov/newsroom/article/0,,id=187935,00.
html 3) If you did not receive a rebate check from the stimulus program in 2008, had a child in 2008, or a change in income, check to see whether you are eligible for the "Recovery Rebate Credit".
(Your rebate amount will be included in your tax refund, not issued in a separate check.
) Form 1040 Instructions, Fact Sheet 2009-3, or the "Information Center" at the IRS website.
4) There is an additional standard deduction for real estate taxes paid on your home in 2008, to your city or state, that you can claim.
(maximum of $500 for singles and $1000 for Married Filing Jointly) 5) If you are in a "Mortgage Workout" or in Foreclosure, you can exclude debt that has been forgiven on that principal residence if the balance of the original loan was less than $2 million.
($1 million for a married person filing a separate return.
) Form 982 These five things, if you qualify for any of them, can mean a great deal to anyone who doesn't want to hand over any more of their hard-earned dough to Uncle Sam than is absolutely necessary.
As you check out each of these opportunities to reduce you tax debt, or increase you tax refund, keep this in the forefront of your mind; the IRS does not want you to starve yourself or your children to satisfy your tax obligation.
They want you to put your family and good health first.
Take advantage of as many of these five opportunities as you can to reduce your tax burden this year and give your stomach a break!
