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State Tax Refunds On Prepaid Cards Can Have $10 Per Withdrawal Fee
It’s plastic, it’s got a magstrip, and a bank logo, but don’t treat that tax refund given in the form of a prepaid card like it’s just another debit card. For instance, if you use it more than once at...
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Cancelled Student Loan Debt Creates Tax Nightmare
When Kim Thompson’s $91,000 student loan balance was cancelled due to total disability, she thought she had put at least one of her problems behind her. Instead, she traded it for another: a massive...
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Tax Help: How to Dispute A 1099-C Form
In 2006, “Anne” and her husband negotiated a settlement on credit card debt of $7,500 with one of the country’s biggest banks for roughly $2,900, wiping out just over $4,500 in debt. But just recently,...
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Stop Procrastinating: Last Minute Tax Tips
I have a confession: I have not completed my 2011 tax return. Yes, “Ms. Personal Finance Expert” is procrastinating. I have a pretty good excuse: some of the information I need to file won’t be...
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The Pitfalls of Paying the IRS With A Credit Card
When consumers receive their annual tax bill, it may be larger than they expected or can afford to pay at once, and in many cases, some may even consider paying the total off with their credit cards....
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Not Paying Your Taxes Can Hurt Your Credit Score
This year, Uncle Sam is giving U.S. taxpayers some extra time before the filing deadline. The 2012 deadline falls on Tuesday, April 17 as the normal April 15th date falls on a Sunday and Monday is...
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Reader Asks: Can the IRS Seize My Inheritance?
A debt to the IRS can create enormous problems. If the IRS files a Notice of Federal Tax Lien, your credit scores will tumble. And you’ll likely find out that the IRS has a wider variety of collection...
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Foreclosure Aftershock: Paying the IRS
Christine, a Credit.com reader, thought that after losing her home to foreclosure, there would be no new financial shocks for a while. Then she received a letter from the IRS. “I filed my taxes in 2010...
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Debt Cancelled, But How Much Will It Cost Me?
It’s a truism of the U.S. tax code that a simple question usually begets a complicated answer. That’s certainly the case for Sylvia, a Credit.com reader with a simple question about an increasingly...
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Online Threats That Will Throw You Off the Security Balance Beam
By Ondrej Krehel By now you’ve all seen the video of American gymnast Aly Raisman’s parents wincing, twisting and turning in their seats as they watched their daughter compete for Team USA in the...
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A Beleaguered IRS Serves Up Billions in Fraudulent Tax Returns
Identity thieves who have fallen on hard times, take heart. The IRS could be the answer to your prayers. The IRS may have delivered more than $5 billion in refund checks to you and your compadres who...
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7 Things ID Thieves Could Fund With Your Stolen Tax Refunds
Now that Governor Mitt Romney has picked US Rep. Paul Ryan to be his vice presidential running-mate there is little doubt that the budget will be a major issue in the 2012 campaign. While both parties...
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In Argentina, Government to Monitor All Credit Card Purchases
In an effort to curb out-of-country credit card use to keep the nation’s economy strong, Argentina’s government has issued a new tax law on consumers who use their cards in other countries, as well as...
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The Most Outrageous Tax of the Year
It just may become the latest outrage during a year of outrages. At the precise moment when the federal government finally delivers a modicum of justice and some economic relief to millions of...
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IRS May Have Missed $5.2 Billion in Fraudulent Returns
In recent years, fraudsters have been able to mine a rich vein of potential identity theft by filing bogus tax returns for other people. But while the IRS has tried to come down hard on this type of...
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Double Whammy: Short Sale Incentives May Mean Tax Bill
You’ve heard the adage about not looking a gift horse in the mouth. But what if that “gift” comes with a hefty tax bill? That’s what can happen in the case of homeowners whose lenders offer them...
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Credit.com in the News 11/17/12
This week the experts from Credit.com contributed to a wide range of publications on subjects including debt collection, identity theft, Hurricane Sandy and what the election outcome means for your...
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5 Year-End Tax Tips for 2012
Taxes are my personal finance Achilles heel. Every year, I promise myself I’ll be better organized than the last. With freelance income and a rental property — in addition to the usual stuff (mortgage...
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Many Consumers Don’t Take Advantage of Mortgage Interest Deduction
During the arduous and acrimonious debate over the fiscal cliff, one potential part of the solution that has come up often is the elimination of the mortgage interest tax break. And while many...
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What You Need to Know About Tax-Related Identity Theft
Tax day is months away, but take steps now so you can file your return early — before identity thieves beat you to the punch. Many victims of tax-related identity theft uncover the fraud after they...
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