RoniDTaxLady

According to reports, the number of taxpayers attempting to claim inflated refunds was on the rise. When the economy falters people start looking for more cash. And that means more people are willing to “push it” on their taxes. Good luck, when the audits start rolling in. From Yahoo Finance : The IRS identified 335,341 tax returns claiming $1.9 billion in fraudulent refunds as of March 4, 2011, according to the findings of an audit conducted by the Treasury Inspector General for Tax... Read Full Story

Due to tighter standards from Frannie Mae and Freddie Mac, getting approved for a mortgage is getting more and more difficult for average Americans. People are getting denied left and right, sometimes for things beyond their control. CNN reports: Banks are reluctant to make loans without the Fannie and Freddie guarantee, and loans backed by them account for just about every mortgage written these days. In 2009, the agencies lifted the minimum credit score that borrowers must have from 580 to... Read Full Story

I've posted stories before about attempts to get the IRS to provide information about child abductors, but did you know there are parental abductors some who blatantly claim their kidnapped children on their federal returns? The hubris here is astonishing. Washington Examiner reports: Hardly a week passes without hearing something about missing children in this country. Some are believed stolen for sexual purposes, some are found murdered, and thousands of other children are kidnapped by one... Read Full Story

Yesterday was the deadline to get your tax return filed. Hopefully you filed your taxes right on time and are currently relaxing in post tax season glow. If not, here is my advice on how to get your taxes taken care of without incurring excessive fees and penalties. Don't Wait Any Longer The best advice I can give you is not to wait any longer. Get your tax returns prepared and filed as soon as possible. If you get your return filed within the next couple of days, any penalties you’re... Read Full Story

Spring season has begun, and houses are going up for sale across the country. Prices are low, and there are plenty of other good reasons to purchase real estate right now. However, be sure that you avoid making one of these missteps. From MSN : Considering your house an investment. (Yale economist Robert Shiller) found that except for a brief period after World War II and the boom between 2000 and 2006, the inflation-adjusted return on housing has been zero. Zilch. Nada. And Shiller's... Read Full Story

According to new reports, nearly half of Americans did not pay federal income taxes for tax year 2010. However, as CNN reporter Jeanne Sahadi explains, this statistic is often misunderstood, and misrepresented. Remember, politicians use stats like this to get everyone riled up, without providing any underlying information. Remember, everyone pays taxes, just not everyone pays federal income taxes, and that’s by design. From CNN.com : For tax year 2010, roughly 45% of households, or about 69... Read Full Story

The White House released the income tax return of President Barack Obama and his wife Michelle, and according to their returns, the Obamas made $1.7 million in 2010. The first couple paid over $450,000 in federal income taxes, and donated $245,000 to charitable causes. From Bloomberg.com : The Obamas reported $1.3 million in taxable income after deductions, according to a 2010 tax return released by the White House today, the deadline for filing tax returns. Obama earned his $400,000... Read Full Story

Today is the deadline to get your federal tax returns filed, which also means companies are offering Tax Day promotions. Go on and get your free stuff! From CBSnews.com : HydroMassage: HydroMassage locations nationwide will provide free massages between April 14 and April 18 to help eliminate the stress of tax filing. Get a coupon for a free message at www.hydromassage.com/taxday.htm and call ahead to schedule a session. IHOP: IHOP has a kids-eat-free special offer the entire month of April... Read Full Story

If you have to deal directly with an IRS agent, either because of an audit or a back tax debt, then here are a few rules to consider ( via WSJ.com ). Rule 1: Don't ignore the tax man. The IRS "has an automated collections system," says John Barrie, a tax lawyer and partner at Bryan Cave LLP. "They will start issuing notices. Each notice gets a little more harsh." Soon enough, the IRS may place a levy on your wages or bank account. Rule 2: You need to communicate with the IRS, but that doesn't... Read Full Story

If you are unemployed, taxes may be the last thing on your mind, however, you are actually entitled to a handful of additional tax breaks. Read on, the unemployed need all the money help they can get. CNN reports: "This is your money that you're entitled to, and if you're unemployed it's really in your interest to get that money back this year," said Bob Meighan, vice president at TurboTax. "Refunds are averaging around $3,000, which is a pretty good chunk of money, especially if you're... Read Full Story