ANISSUE THAT LIBERALS, INDEPENDENT AND CONSERVATIVES CAN AGREE WITH!!! Mike Huckabee is a supporter and a leader in the FAIRTAX(tax reform) and that is why John McCain should pick Mike Huckabee for Vice President!!! Call McCain's office at 703-418-2008 and let him know you want the FAIRTAX and Mike Huckabee for Vice President! A MUST READ!!! A brief summary of the FAIRTAX A. The FAIRTAX will eliminate income taxes, withholding, self-employment taxes, bonus taxes, overtime taxes, social security taxes, medicare taxes, alternative minimum taxes, estate taxes, gift taxes, corporate taxes, capital gain taxes, dividends taxes, small business taxes, and replace it with a 23% sales tax. Plus it will give each American household that are citizens a rebate check based on the poor necessities of life. It will also abolish the 16th admendment and prevent the government from taxing us twice! B. Its Fair because for example if you are rich and you buy a $20000 rolex watch you pay more in taxes but the same percentage as someone buying a $95.00 fossil watch so it is fair for the rich and the poor that may one day become rich. C. The FAIRTAX is Fair for the poor and middle class because of the rebate check. Under the FAIRTAX there is no taxes on necessity items (food, clothing, water etc), but it is not a necessity to have a party and to buy lots of food or to go on a shopping spree and buy lots of cloths. That is the purpose of the FAIRTAX rebate checks, and the size of the rebate ...
http://www.youtube.com/watch?v=r_YjpfAvdDc&hl=en
Friday, October 29, 2010
Sunday, October 24, 2010
Tax Debt Relief Acts of 2001 and 2007
Every year, taxpayers are required to file their tax returns with the IRS. However, the economy has suffered greatly in the recent years and so many taxpayers were not able to pay for their obligations on time. If you have no idea about tax debt relief, you should read this article.
Tax relief happens when the government exempts any form of tax. Perhaps you've heard about the Mortgage Debt Relief Act of 2007 and the Economic Growth and Tax Relief Reconciliation Act of 2001. Until today, people are still debating as to the specifications and terms of tax relief but this is primarily due to the complex tax laws. With the right info in your hands, you can easily handle this situation.
According to the Act passed in 2007, you can be exempted from paying for the tax which resulted from a debt amount that was canceled or forgiven. If you qualified for the loan modification, you can qualify for the debt relief. This can be applied from 2007 until 2012.
You can only qualify for this debt relief if you filed for bankruptcy, non-recourse loan, certain farm debt, and if you qualified for a loan modification provided that your home's value is lower than the amount owed. The maximum amount is $2,000,000 and for married individuals filing separately, the maximum amount is $1,000,000. Just in case your balance is greater than the amount, you can check out Form 982 for the instructions.
When you qualify for this act, you will need to fill out Form 982 and submit it together with your tax return. The Act of 2001 made considerable changes to the retirement plans. This included increased deductibility limits and contributions for the IRA, employer-sponsored plan, and the portability rules. The EGTRRA has also increased the amount for the generation-skipping transfer-tax exemption and estate-tax exclusion.
You need to be aware of these tax solutions so that you will not find it hard to pay for your tax debts. There is always an appropriate tax debt relief option that will work for you. It would also help if you consult a lawyer who specializes in tax.
***Update***
I have done a bit of research for you. Tax Settlement Experts can help you get the relief you deserve. Find out if you qualify for a tax debt settlement today.
Click here to fill out a short form to save your finances and get out of debt as early as this week!
Friday, October 22, 2010
Rep. Blumenauer on Economic Recovery
Rep. Earl Blumenauer spoke against a proposed Republican substitute offered by House Republicans which would cut tax relief for working Americans provided by the American Recovery and Reinvestment Act. This recovery package is the first crucial step in a concerted effort to create and save 3 to 4 million jobs, jumpstart our economy, and transform it for the 21st century. This means real change: it will strengthen the middle class, not just Wall Street CEOs and special interests in Washington.
http://www.youtube.com/watch?v=TFEl-wkHJu4&hl=en
http://www.youtube.com/watch?v=TFEl-wkHJu4&hl=en
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